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Gulf Energy makes investment in Binance.US and BNB as part of JV

An energy company in Thailand owned by billionaire Sarath Ratanavadi today announced investments in Binance.US and BNB tokens. Gulf Energy Development Public Company Limited said in a regulatory filing on April 18 that it had, through a subsidiary, made an investment in “series seed preferred stock” issued by BAM Trading Services Inc., operator of Binance.US. The exchange announced a $200 million raise at a $4.5 billion valuation on April 6. Per a separate filing on April 18, Gulf Energy has …

Layer by Layer Issue 25: Avalanche, Terra, BNB Chain, and Cosmos

March 24, 2022, 3:47PM EDT • 17 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding L1 teams are starting to develop closer partnerships with other teams, leveraging the technical strengths and communities of their respective networks to forge new synergistic strategies for growth This week, we take a look at Avalanche, Terra, BNB Chain, …

Layer by Layer Issue 21: BNB Smart Chain, Cronos, Solana, and Fantom

February 17, 2022, 7:09AM EST • 20 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding In an era of attention scarcity, L1 teams are employing a variety of strategies in order to build sustainable network effects Pockets of growth can still be found within different ecosystems, fueled by product innovation This week, we take …

Binance removes its name from its blockchain ecosystem, now BNB Chain

Crypto exchange Binance has renamed its blockchain ecosystem in a move that suggests the company does not want to be directly associated with the blockchain and its token. Its blockchain ecosystem, previously known as Binance Smart Chain, has now been renamed to BNB Chain, and its token BNB — once known as Binance coin — has now been rechristened as “Build and Build.” “Over the years, we’ve realized that BNB has evolved into something beyond Binance and in fact, BNB …

Binance destroys over 1.68 million BNB tokens in its latest burn

Crypto exchange Binance announced Monday that it has burned over 1.68 million BNB tokens in its 18th burn. The burned tokens are worth nearly $800 million at current prices, but the actual dollar amount of the burn isn’t known as Binance recently implemented a new system for its BNB burns. Until last month, Binance had been burning BNB tokens on a quarterly basis based on revenues it generated during a period. But the exchange recently implemented a new procedure, called …

Crypto exchanges saw over $14 trillion in trading volume this year

Centralized crypto exchanges, which hold customers’ private keys unlike decentralized exchanges, reported more than $14 trillion in trading volume in the year 2021, according to The Block Research. That figure is a massive 689% increase compared to 2020 trading volumes, based on data as of December 24. Last year, centralized crypto exchanges facilitated over $1.8 trillion in trading volumes. All these numbers are from The Block’s Legitimate Index, which takes volume data from the largest exchanges that are known to …