• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, June 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Binance to permit crypto collateral off exchange

by Om Chaturvedi
January 17, 2023
in Crypto
Reading Time: 2 mins read
0
Binance to permit crypto collateral off exchange

Credits: Khaleej Times

TwitterWhatsappLinkedin

Binance, the operator of the world’s biggest crypto exchange, will allow institutional investors to keep the collateral for leveraged positions off the platform, a move to ease concerns caused by the collapse of one-time rival FTX.

You might also like

June crypto boom is coming! Pi, XRP, SOL are trending strongly—OPTO Miner cloud mining will reach a new high

Name Change, Same Debate: Why the SEC Is Rolling Back Gensler Era Crypto Rules

Brazil Enforces 17.5% Flat Crypto Tax for All Investors

The exchange will enable investors to post collateral with Binance Custody, which will hold the assets off the internet, in cold storage wallets, Binance said in a statement on Monday. Once trades are settled, the assets would then become accessible to the user again.

Crypto exchange Binance
Credits: Business Today

The feature, called Binance Mirror, could be a major blessing for crypto investors trading in the leveraged markets as most crypto traders have to keep their collateral on the exchange for trading. However, using cold storage wallets means users can continue to trade crypto during volatile sessions without massive outflows on an exchange. Users’ assets would also be protected against on-chain hacks, to which hot wallets are vulnerable.

The collapse of Binance’s rival FTX in November last year prompted fears about crypto exchanges’ ability to keep users’ assets safe, with regulators probing FTX over the misuse of customer funds. “This an exercise to build trust among institutions that their funds will remain safe. Its a positive development that shows Binance is moving toward becoming an institutional-focused crypto exchange,” said Markus Thielen, head of research and strategy at crypto services provider Matrixport.

Binance and Huawei came together to retrieve $2.5M from Harmony
Pic credits: Getty Images

“However, this might not be enough as exchanges will likely have to work with external custodians to completely eliminate risks around collateral ownership,” Thielen added.

After FTX’s demise, users yanked funds from Binance and other rivals. At the peak of that pullback in early December, users withdrew billions of dollars in one day from Binance’s trading platform. Additional concern surfaced in mid December when the accounting firm Mazars halted work for Binance and other crypto firms on proof-of-reserves reports.

The feature, called Binance Mirror, could be a major blessing for crypto investors trading in the leveraged markets as most crypto traders have to keep their collateral on the exchange for trading.Its a positive development that shows Binance is moving toward becoming an institutional-focused crypto exchange,” said Markus Thielen, head of research and strategy at crypto services provider Matrixport.

“Our clients are a lot more conscious of managing risks,” said Catherine Chen, the head of VIP & Institutional at Binance, in an interview. “We hear from our users that they love to trade on Binance, but at the same time they are getting ‘pressure’ from their internal risk control. For them to scale up further activities on Binance, they need to look for ways to help them diversify the on-exchange risks.”

Tags: #Crypto exchangesBinance
Tweet54SendShare15
Previous Post

Binance and Huawei came together to retrieve $2.5M from Harmony

Next Post

Iran and Russia planning to issue a new cryptocurrency backed by gold

Om Chaturvedi

Om is a final year Engineering student in Panjab University, Chandigarh. Content Writer by Choice. Special Interest in Crypto, Metaverse and AI. Three Years of Experience in writing and ambitious to bring change with Pen & thoughts.

Recommended For You

June crypto boom is coming! Pi, XRP, SOL are trending strongly—OPTO Miner cloud mining will reach a new high

by Techstory
June 14, 2025
0
June crypto boom is coming! Pi, XRP, SOL are trending strongly—OPTO Miner cloud mining will reach a new high

OPTO Miner, a well-known cloud mining platform in the UK, has officially launched a new mobile app, bringing a more convenient and efficient mining experience to users! Through...

Read more

Name Change, Same Debate: Why the SEC Is Rolling Back Gensler Era Crypto Rules

by Anindya Paul
June 13, 2025
0
SEC

On June 12, 2025, the US Securities and Exchange Commission (SEC) stated that it is formally rescinding 14 crypto focused rule proposals put forth under the leadership of...

Read more

Brazil Enforces 17.5% Flat Crypto Tax for All Investors

by Anindya Paul
June 13, 2025
0
Brazil

Brazil's Ministry of Finance's Provisional Measure No. 1303 is finally changing the tax treatment of cryptocurrency gains. As of approximately mid-June 2025, all resident investors will pay a...

Read more
Next Post
Iran and Russia planning to issue a new cryptocurrency backed by gold

Iran and Russia planning to issue a new cryptocurrency backed by gold

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?