Last week, the biggest cryptocurrency exchange in the industry, Binance, added a number of new coins to its trading platform.
New margin assets include the stablecoin US Dollar Coin (USDC), Litecoin (LTC) and Ethereum Classic (ETC). The same three are also borrowable assets. It has also added margin trading, with the margin pairs: BTC/USDC, LTC/USDT, LTC/BTC, ETC/USDT and ETC/BTC.
This announcement comes among a slate of others which occurred last week, many of which have been made through the Twitter of Binance CEO, Changpeng Zhao or ‘CZ’, who has more than 400K followers on Twitter and has been described as an ‘ambassador’ for cryptocurrency. Some of these updates include a partnership with Crypto.com, the announcement of an ICO on the Binance Launchpad for the startup Perlin, the enabling of margin trading for Canadians, expansion into the European market with a London office, and the introduction of new stablecoins on Binance DEX.
These updates saw an astronomical surge in the value of Binance’s cryptocurrency, the Binance Coin (BNB), last week, despite industry-shaking news of a KYC data leak of Binance users. The token used to be worth around $6 this time last year but is now worth $30. The coin had been growing especially fast the previous week, with a near-11% growth.
The growth was good for Binance, after the KYC leak. An unidentified individual had leaked hundreds of images containing personal KYC (Know Your Customer) data of Binance users, such as their passports, licenses and pictures. While these images were leaked earlier this year on the dark web, last Wednesday a person asked Binance for a ransom of 300 BTC in exchange for not leaking the images on major social media platforms. When Binance did not comply, the data dump started occurring on Telegram, the messaging platform.
Binance confirmed that the pictures were not taken from its servers, as they lacked the hidden digital watermark that the company places as a security measure. They suspected it was taken from a third-party who they had contracted previously.