EddieJayonCrypto
22 Dec 23
Binance, the world’s largest crypto exchange platform, is reducing the minimum order size of top memecoins for spot and margin trading pairs, aiming to make crypto trading more accessible globally. The changes will take effect tomorrow and will lower the minimum amount investors must spend from five...
Binance, the world’s largest crypto exchange platform, is reducing the minimum order size of top memecoins for spot and margin trading pairs, aiming to make crypto trading more accessible globally. The changes will take effect tomorrow and will lower the minimum amount investors must spend from five stablecoins to one. Additionally, Binance settled in court with the CFTC after being found guilty of violating the law, resulting in a $150 million civil monetary penalty against former CEO Changpeng Zhao, and requiring Binance to disgorge $1.35 billion of ill-gotten transaction fees and pay a $1.35 billion penalty to the CFTC.
Binance is implementing this update that will reduce the mandatory minimum order size of certain meme assets for spot and margin trading pairs, including Pepe (PEPE) and a handful of dog-themed meme cryptos, such as Floki (FLOKI), Shiba Inu (SHIB), and red-hot Bonk (BONK). The reduction of order sizes aims to make trading more accessible and improve the trading experience while not affecting existing spot or margin orders. Further, the minimum amount that investors must spend will be lowered from five stablecoins to just one. Additionally, Binance settled with the CFTC and CEO Changpeng Zhao faced a $150 million monetary penalty, while Binance was required to disgorge $1.35 billion and pay a $1.35 billion penalty to the CFTC as a result of violating the law.
Disclaimer:This is not financial advice. Please do your own research before investing in any asset.