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Binance Allows Large Traders to Keep Assets at Banks, Native USDC Coming to Celo

Jan 30, 2024
Author
Tom Couture
Tom Couture AC
Market Update U.S. equities are showing moderate declines after JOLTS surprised to the upside with 9.03 million job openings vs. 8.75 million expected. The SPY and QQQ have declined by 0.14% and 0.63%, respectively. All eyes will be on tomorrow’s FOMC meeting and QRA announcement, which should give near-term direction to rates and the DXY. Crypto markets are showing strength, with $BTC rising 0.36% to $43.5k and $ETH gaining 2.46% to exceed $2,375. Bittensor ($TAO) is one of the strongest performers this week, gaining over 28%, as Vitalik Buterin mentioned the AI protocol in his latest crypto/AI essay. Similarly, Render Network is rallying ahead of Apple’s Vision Pro release on Friday. $RNDR has risen 19.74% this week as it provides distributed GPU services that virtual reality products can leverage.Binance has begun to let large traders custody their assets at independent banks instead of on the Binance exchange. Traders have traditionally been required to custody their assets with Binance’s custody partner Ceffu, which the SEC has ridiculed as being another Binance entity. Binance previously announced a tri-party banking agreement without identifying the banks, but the banks are now believed to include Switzerland’s Sygnum Bank and Flowbank. Allowing large traders

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