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Tag: Binance Group

Binance Partner EQONEX Launched Bitcoin Exchange Traded Notes!

Crypto Charlene Lensburg -
The Nasdaq-listed digital asset financial services venture EQONEX Limited announced the launch of its BaFIN-approved USD-denominated Bitcoin Exchange-Traded Note (ETN) available on the German XETRA Exchange. In July, they already launched a Euro-denominated ETN, providing direct investment exposure to bitcoin via an exchange-traded product. Investors can trade in and out of ETNs via their existing brokerage accounts with Euro or USD. EQONEX is part of the Binance Group of companies.

Breaking: Nasdaq-Listed Binance Partner Eqonex Shuts Down Crypto Exchange!

Crypto tamir -
Publicly traded crypto Eqonex announced on Monday that it will shut down its cryptocurrency exchange operations, citing falling trading volume, “intense market competition, and low margins.” The company said it is exiting the crowded crypto exchange space and focusing resources on the businesses that offer the most potential for revenue growth and long-term financial sustainability: Asset Management and Custody. Eqonex is part of the Binance Group, the world's largest crypto exchange operator.

Interesting! The Ambitious Binance Project With EQONEX!

Crypto-Exchange tamir -
In March 2022, the Nasdaq-listed crypto exchange operator EQONEX Limited entered into a strategic partnership with the Binance Group, making it a sort of subsidiary. Under the terms of the strategic alliance, Lithuanian Bifinity UAB provided a $36 million loan and has the right to nominate key management positions and Board members. Consequently, Jonathan Farnell has been appointed CEO, Almira Cemmell Chief Corporate Affairs Officer, and Daniel Ling was appointed Chief Financial Officer (CFO).

Regulatory concerns! The UK FCA really does not like crypto giant Binance!

Crypto Payments Charlene Lensburg -
Early this week, the UK Financial Conduct Authority (FCA) said that it would be aware of the announcement made by the Eqonex Group and the Binance Group confirming that an entity called Bifinity UAB will advance a US$36 million convertible loan to Nasdaq-listed crypto exchange Eqonex. Bifinity has acquired some specific contractual rights over Eqonex Limited through this loan. The Lithuanian Bifinity is the official fiat-to-crypto payments provider for the Binance Group launched on 7 March 2022.

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