The Coinbase cryptocurrency exchange collapsed briefly with the fall of Bitcoin.
The leading cryptocurrency Bitcoin (BTC) has been experiencing incredible activity for about the last 1 week, and this situation is still not fully terminated. BTC, which reached up to $ 13,000 two days ago, lost value close to $ 2,000 yesterday and fell to the $ 11,000 band. Many people stormed the stock exchanges either to benefit from Bitcoin’s downfall and to buy BTC or to think that Bitcoin would fall completely and exit without harm.
Even Coinbase, one of the world’s largest cryptocurrency exchanges, could not withstand this volume and collapsed briefly. Both the desktop and mobile applications of the US-based giant stock market were activated back with 20’s and 30’s intervals respectively. However, the stock market’s failure to provide investors with 20 and 30 minutes of access at such a critical time has sparked a reaction on social media.
Coinbase Increases Criticism
Famous expert Peter Brandt, who predicted Bitcoin’s 2018 decline and 2019 rise, also reacted to the Coinbase stock exchange and stressed that such situations often occur when the stock market wants to benefit from its customers.
Although Coinbase is still one of the leading US stock exchanges, such events and Binance’s entry into the US market can completely change the industry.
Binance’s Coinbase Crypto Money Exchange ‘Enraged’ Moves!
According to a press release published on June 13, Malta-based Binance, one of the largest cryptocurrency exchanges in the world, is preparing to open a new cryptocurrency platform in the United States with a partner approved by the Financial Crimes Implementation Network (FinCEN).
Binance Goes to America!
Allegedly Binance’s Binance US cryptocurrency exchange will be launched in partnership with BAM Trading Services. BAM will be the operator of Binance US and will use Binance’s wallet and matching engine products.
Binance CEO Changpeng Zhao said in a statement on the subject:
“I’m excited that we’re finally going to release Binance US and bring Binance.com’s security, speed, liquidity to North America. Binance US will be managed by our local partner BAM and will serve the US market fully in compliance with regulations. ”
A spokesperson for BAM Trading Services said it was an honor to partner with Binance and that they would use the stock security and technology to their advantage.
In fact, Binance had made some moves to rival Coinbase, one of the most popular stock exchanges in the world, but this seems to be the most obvious competition move. The US’s entry into Coinbase’s territory, perhaps the number one cryptocurrency exchange, shows that Binance is determined to take the competition to the next level.
According to a news report by The Block, Binance has experienced an incredible rise in his two-year short career and has now become one of the biggest with both luck and successful moves.
During the same period, leading stock exchanges such as Poloniex, Kraken, Coinbase, and Bittrex suffered the wrath of Binance and experienced a sharp decline in volume. Binance cryptocurrency in the market has turned almost the majority of its business volume in its favor and still continues to do so.