Tag: Ltc

Binance to Delist LTC/BUSD and DOGE/BUSD Perpetual Contracts

by Blockchain News

Binance Futures has announced its decision to delist the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts. Here are the primary details:

Automatic Settlement and Delisting

All positions on the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts will undergo an automatic settlement on 2023-08-24 at 09:00 (UTC). Following this settlement, the contracts will be officially delisted from the platform.

Adjustments to Leverage & Margin Tiers

Prior to the delisting, Binance Futures will make adjustments to the leverage and margin tiers of these contracts on 2023-08-17 at 12:30 (UTC). It’s crucial for users to note that positions opened before this update will be affected. To avoid potential liquidation, users are strongly advised to adjust their positions and leverage settings accordingly.

Key Recommendations

Users are urged to close any open positions related to these contracts before the specified delisting time to sidestep automatic settlement.

From 2023-08-24 at 08:30 (UTC) onwards, users will not have the option to open new positions for the aforementioned contracts.

Protective Measures: Binance Futures has highlighted that, in the interest of user protection and to counteract potential risks in volatile market conditions, it might introduce additional protective measures for these contracts without further notice. Such measures could encompass adjustments to various parameters like leverage values, position values, and maintenance margins.

For those seeking more comprehensive details, Binance has provided resources on its platform, including specifics on the delisting of futures contracts, trading rules, and other related topics.

Recent Delistings:

On August 15, 2023, Binance announced its decision to delist SNM, SRM, and YFII effective from August 22, 2023.

On August 16, 2023, Binance Margin communicated its intention to delist the EPX/BUSD, GAL/BUSD, GMX/BUSD, HIVE/BUSD, KLAY/BUSD, RAD/BUSD, and TVK/BUSD cross margin and isolated margin pairs. This change will take effect on 2023-08-24 at 06:00 (UTC).

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EDX Markets Debuts Cryptocurrency Trading Platform and Wraps Up Latest Investment Round

by Blockchain News

In a key milestone, EDX Markets has successfully kick-started its cryptocurrency trading operations and completed a fresh funding round. Based in Hoboken, New Jersey, EDX has been established as a trusted marketplace for digital assets, promoting safe and compliant trading through reliable intermediaries.

EDX has garnered the attention of major financial institutions, becoming the preferred cryptocurrency marketplace for industry leaders. The platform stands out with its non-custodial model designed to prevent conflicts of interest. It also offers benefits like enhanced liquidity, competitive quotes, and a retail-only quote, giving retail-originated orders a better pricing advantage. Currently, EDX supports the trading of well-known cryptocurrencies (mainly POW), including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

Another milestone is on the horizon for EDX. Later this year, it plans to launch a clearinghouse, EDX Clearing, which will settle trades matched on EDX Markets. The clearinghouse will function as a central counterparty for trades, reducing settlement risks, promoting price competition, and increasing operational efficiency.

The launch of EDX and the forthcoming EDX Clearing comes on the heels of a successful new funding round. The round saw participation from strategic investors such as Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. These firms join the platform’s founding investors, including heavyweights like Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial. The newly secured funding will bolster the ongoing development of EDX’s trading platform and strengthen its market leadership position.

Jamil Nazarali, CEO of EDX, expressed his confidence in the platform’s potential and its ability to attract investors. He stressed EDX’s commitment to incorporating the best practices from traditional finance into the cryptocurrency market and hinted at the significant edge EDX Clearing will provide by improving competition and operational efficiency.

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Litecoin (LTC) Announces Completion of Privacy Upgrade Following Years of Development

by Dailyhodl

The developer of the Litecoin (LTC) cryptocurrency, Litecoin Foundation, is announcing a privacy and security-enhancing update.

Litecoin Foundation says that the Mimblewimble Extension Block (MWEB) upgrade is now a Release Candidate after undergoing development, testing, reviewing and auditing for years.

The MWEB upgrade will be bundled with the Taproot upgrade and released as part of Litecoin Core 0.21.2. Taproot is an update to enhance the privacy and efficiency of the network.

According to the Litecoin creator and the managing director of the Litecoin Foundation, Charlie Lee, the upgrade will go live as soon as the activation threshold is hit.

“Note that although MWEB is released, it won’t be ready to use immediately. We are using Bitcoin Improvement Proposal 8 with 75% activation threshold and one year time limit. So miners need to update to the new release and signal for activation.”

According to the Litecoin Foundation, the upgrade will solve a problem common to Litecoin and other blockchains where the “amounts sent between wallets are publicly displayed, allowing anyone to see how much is being sent, received and held; making the users’ ‘privacy’ impossible to protect.”

The privacy-enhancing MWEB upgrade will be optional for users, according to the Litecoin developer.

“Until now, cryptocurrency has been lacking these basic privacy measures offered by traditional banking systems – which, for the most part, afford individuals privacy concerning their finances – but that’s all changes with Litecoin’s MWEB upgrade.

Users may not require this level of ‘privacy’ for all Litecoin transactions, which is why using MWEB is optional, allowing users to ‘opt-in’ at their discretion, based on their needs.”

Mimblewimble consists of various technologies including coin-mixing and a technique for concealing the transaction amounts.

Extension Blocks provide optionality and can be viewed as an adjacent chain or a “parallel highway” that allows users to choose MWEB or the main Litecoin chain and vice versa.

Litecoin is trading at $11 at time of writing, up by 4% over the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Troyan/WindAwake

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Kiss this: You can buy Gene Simmons’ Las Vegas mansion with crypto

by Cointelegraph

Rock legend Gene Simmons says he will accept crypto payments for the sale of his $13.5 million mansion in Las Vegas.

The iconic bassist and co-lead singer of Kiss will accept payments in or a combination of Bitcoin, Ethereum, Litecoin, Uniswap, Polkadot, Aave or Try.Finance according to hard rock news site, Blabber Mouth.

Listing broker Evangelina Duke-Petroni from Berkshire Hathaway Home Services told the Las Vegas Review-Journal in a Feb 1 interview that any potential crypto payment for the property would have to be “verified through closing costs, including taxes and commissions.”

The three-level mansion sprawls across over 11,000 square feet in the Ascaya luxury community overlooking the Las Vegas skyline.

Although Duke-Petroni didn’t provide any further clarification, she did add the property will “be paid in a currency that’s recognized by traditional standards.”

Simmons describes himself as an “outspoken proponent of cryptocurrency.” He said:

“It is the future of money, and it just makes sense to offer interested parties the option of using cryptocurrency to purchase the estate.”

The Demon has been bullish on the crypto scene for quite some time now. Back in 2017, the Israeli-American musician alluded to his interest in Bitcoin during an interview with The Street.

He also made headlines back in 2020 with some elusive comments on a tweet from Gemini co-founder Cameron Winklevoss, suggesting that he was working on making crypto more accessible.

On Feb 1 2021, Simmons tweeted confirming he owned both Ripple (XRP) and Dogecoin (DOGE). Six days later, returned to Twitter to share that he had bought even more DOGE, and yet again on Feb 19 claiming he had purchased $300,000 worth of Cardano (ADA).

The rock star has also shared that he owns $300,000 worth of Ether (ETH), and $300,000 worth of Binance Coin (BNB). However, some members of the crypto community appeared skeptical of Simmon’s rapid fire crypto endorsements.

Related: Coinbase CEO reportedly buys LA mansion for $133M

Simmons originally purchased the property for $10.8 million in May 2021, before listing it for sale at $14.95 million in Oct, not even half a year later.

He’s not the first celebrity to accept crypto payments for his home. Back in June 2021, DJ David Guetta put his luxury $14 million apartment on Miami Beach up for sale and was accepting payments in BTC and ETH at the time.