FTX Wallet adds support for BUSD and BNB tokens on Binance Smart Chain

The well-known cryptocurrency exchange FTX has launched support for BSC BEP20 tokens in its wallet service, which seems to be a continuing impact on market penetration. Although there was no official announcement, Sam Bankman-Fried, CEO of FTX comfirmed Development says:

“Ftx.com/wallet now supports BUSD and BNB BSC! (Withdrawals are real-time-I *think* deposits are; otherwise they will happen soon.)”

According to existing information, the FTX wallet now actively supports the native Binance Dollar (BUSD) and BNB withdrawals on the Binance Chain. The company will soon enable users to make deposits with BSC BEP20 tokens.

However, these services are not yet applicable to the US-focused FTX platform, FTX.US and other prohibited jurisdictions.In a previous interview, Bankman-Fried believed that the government needs more than Three to five years to provide regulatory clarity It is suitable for cryptocurrency businesses that wish to operate within its jurisdiction. According to reports, the entrepreneur also “spends five hours a day on everything from regulation to licensing.”

Recently, the company also Restrict its users to use up to 20 times the trading leverage Instead of providing 101 times leverage. The purpose behind this move is to minimize the inherent volatility risks associated with crypto trading. Surprisingly, the exchange did not experience any reduction in trading volume after the announcement.

related: FTX raises 900 million US dollars to break the record of cryptocurrency financing and become the ten-cornered beast of the exchange

Praising the technological development of cryptocurrency exchanges, FTX’s latest round B investment There were more than 60 participants. The resulting transaction brought FTX’s valuation to US$18 billion, an increase of 1400% from the previous US$1.2 billion.

Other market leaders such as Binance are also following Similar methods to facilitate low-risk transactions And increase the market adoption rate. The Binance CEO attributed this move to “the interests of consumer protection” statement Limiting a new user’s futures trading leverage to 20 times is “something he doesn’t want to do.”