US support of Binance's coins across Coinbase, Bittrex, Polo, Kraken, Huobi, etc

[Raja_MBZ]

~snip~

5 coins + tether? what an epic disappointment! launching with less markets than coinbase seems like a horrible way to generate hype. i guess they are desperate to recapture USA traders ASAP because liquidity is leaving binance.com in droves now.

i also wonder if they're launching this way so they can engage in listing pumps. supposedly they're gonna keep adding coins:

Listing pumps? Well, it didn't happen in the case of Binance Jersey:

However, I smell some real trouble for the coins I've listed in OP. See, Binance Jersey was launched back in January. After all these (six) months, no coin other than ETH, BTC, and BNB is listed there (LTC got listed there today). Similarly, we'll probably only see the very few majors in the start at the US version of Binance, and getting the listing of other sh!tcoins (especially the ones that aren't a part of top ten projects by marketcap) can take years.

Even after 9 months of launch, Binance Jersey trading pairs consist of only BTC, ETH, LTC, BNB, and BCH.

After trading launches for this first phase, we will be continually adding to the selection of digital assets available for verified users to deposit and eventually trade on Binance.US. Trading availability of the digital assets we’re exploring will be based on our Digital Asset Risk Assessment Framework.

the first condition makes it sound like privacy coins and obvious securities are off the table.

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[gentlemand]

Listing pumps? Well, it didn't happen in the case of Binance Jersey:

EUR and especially GBP markets are minnows compared to USD, USDT or BTC. I've never really understood why EUR is piddling, it's the currency of one the world's richest areas. I certainly do get why GBP is. Because of the banking thing crypto's a long way behind most other places in the UK.

[squatter]

Listing pumps? Well, it didn't happen in the case of Binance Jersey:

However, I smell some real trouble for the coins I've listed in OP. See, Binance Jersey was launched back in January. After all these (six) months, no coin other than ETH, BTC, and BNB is listed there (LTC got listed there today). Similarly, we'll probably only see the very few majors in the start at the US version of Binance, and getting the listing of other sh!tcoins (especially the ones that aren't a part of top ten projects by marketcap) can take years.

Even after 9 months of launch, Binance Jersey trading pairs consist of only BTC, ETH, LTC, BNB, and BCH.

The Jersey exchange was intended to "help bridge the crypto-fiat channel for Europe and the U.K." European and UK traders were never barred from using Binance.com.

That's what makes this a distinctly different case. The US site is meant to function not only as a fiat gateway but also as a replacement for Binance.com. That's why I think they felt the need to suggest that dozens more listings are coming in their blog last month.

[Raja_MBZ]

Listing pumps? Well, it didn't happen in the case of Binance Jersey:

However, I smell some real trouble for the coins I've listed in OP. See, Binance Jersey was launched back in January. After all these (six) months, no coin other than ETH, BTC, and BNB is listed there (LTC got listed there today). Similarly, we'll probably only see the very few majors in the start at the US version of Binance, and getting the listing of other sh!tcoins (especially the ones that aren't a part of top ten projects by marketcap) can take years.

Even after 9 months of launch, Binance Jersey trading pairs consist of only BTC, ETH, LTC, BNB, and BCH.

The Jersey exchange was intended to "help bridge the crypto-fiat channel for Europe and the U.K." European and UK traders were never barred from using Binance.com.

That's what makes this a distinctly different case. The US site is meant to function not only as a fiat gateway but also as a replacement for Binance.com. That's why I think they felt the need to suggest that dozens more listings are coming in their blog last month.

A very good point, and it seems like the following tweet proves it:



CZ is already working on phase two of the US platform!

[Raja_MBZ]

Another exchange down for Polymath (POLY); Bittrex just announced that it'll make POLY unavailable for the US traders from 27 September!

Market Availability Changes for U.S. Customers 9/27/19

[Raja_MBZ]

To complete the onboarding process, users will be required to provide a valid government ID — driver’s license or a passport — and their social security number.

Yikes, social security number? That will be a deal breaker for some. I passed on joining Gemini because they required SSN, so of course I won't be going anywhere near Binance.US, who is far less trustworthy.

I wonder if this is just for AML compliance, or if they actually plan on sending 1099s to the IRS.

A new update: Prepare for Launch: Account Verification & Tiers

...and it seems like SSN is required, even in the "basic" verification:

[Raja_MBZ]

I find it a bit weird BNB isn't considered to be somewhere in security territory. It was launched with an ICO and its value hangs on the success of one corporation. I suppose it's not ownership of Binance as such but it's one hell of a long way from something like BTC.

Binance is playing with fire with that one. They burn BNB based on profits made -- lowering the circulating supply -- so it seems like there is indeed an expectation of profits. These are the four metrics of the Howey Test. BNB seems to fit every one:

• It is an investment of money
• There is an expectation of profits from the investment
• The investment of money is in a common enterprise
• Any profit comes from the efforts of a promoter or third party

Arguably, they issued unregistered securities to US persons. I also don't think that's the only area where they have legal exposure to the SEC.

Out of nowhere, Binance US has announced that it'll support one more crypto-asset, and that's BNB!

We are proud to announce one addition to our Phase 1 digital asset offerings. $BNB deposits will open along with registrations today!

This could get real ugly, TBH.

[gentlemand]

Coinbase is going mega shitcoin - https://blog.coinbase.com/coinbase-continues-to-explore-support-for-new-digital-assets-70419575eac4

I've never heard of almost all of them. It looks like Binance US may wind up a beacon of taste and respectability just as Coinbase spirals down the toilet bowl. A very weird move on their part but good luck anyway.

[squatter]

Coinbase is going mega shitcoin - https://blog.coinbase.com/coinbase-continues-to-explore-support-for-new-digital-assets-70419575eac4

I've never heard of almost all of them. It looks like Binance US may wind up a beacon of taste and respectability just as Coinbase spirals down the toilet bowl. A very weird move on their part but good luck anyway.

It's not so weird if they are expecting a replay of 2017 at some point. As the biggest US fiat gateway, the less exodus to altcoins exchanges the better.

I thought they were going "mega shitcoin" when they published their "Digital Asset Framework" a year ago. They only ended up listing 10 or so new coins, though. The launch of Binance.us probably gave them a kick in the pants. Coinbase already supports way more coins than Binance.us; maybe they're trying to keep it that way.

[Raja_MBZ]

Just opened Binance.US after a week and found some interesting additions:



Fresh addition to the platform includes the new USD pairs and a whole section of Alt/BTC pairs.