This Week in Crypto
September 1, 2023
Welcome to another edition of This Week in Crypto. We’ve got some exciting news to share, with an important update from MXC, so stick around until the end!
- Grayscale Triumphs Over SEC
- Binance’s BUSD Support to Gradually Fade Away
- Streamlining Your DataDash Account: MXC’s zkEVM Layer 3 Transfer
Grayscale Triumphs Over SEC
The crypto community celebrated this week as Grayscale, the renowned digital asset investment firm, won a significant lawsuit against the U.S. Securities and Exchange Commission (SEC). This legal victory revolves around Grayscale’s application for a Bitcoin spot ETF. While there’s still a 45-day review period ahead, this win is seen as a promising step forward in the world of crypto.
In a separate but equally noteworthy case, the SEC was also in the spotlight for a substantial fine of an NFT project. These legal tussles remind us that regulatory waters in the crypto world are far from calm.
Binance’s BUSD Support to Gradually Fade Away
In other news, cryptocurrency exchange Binance is making changes to its BUSD stablecoin support. They’ve announced a gradual end to BUSD support in spot and margin trading pairs. Users are urged to convert their BUSD holdings into other assets by February next year.
For those using BUSD as a loanable asset, Binance will cease support on September 6. Withdrawals of Binance-pegged BUSD tokens on BNB Chain, Avalanche, Polygon, and Tron will also be halted on September 7. This decision follows Paxos, the issuer of BUSD, being ordered to stop minting the coin in February. Binance CEO Changpeng Zhao had hinted earlier that BUSD’s support would dwindle over time, and it seems the time for this transition has come.
Streamlining Your DataDash Account: MXC’s zkEVM Layer 3 Transfer
Now, for some exciting news from MXC Foundation, we’re taking a big leap forward in the world of blockchain technology, the MXC zkEVM Layer 3 blockchain, designed to enhance your crypto experience.
If you’re a registered DataDash user, get ready for a change that’s sure to make your crypto journey smoother.
In a world where innovation drives progress, the MXC zkEVM Layer 3 transition is a testament to this spirit. By following the steps outlined in this guide, you’re securing a seamless transition of your account balance to a new blockchain, promising a more optimized crypto experience.
The MXC team is eager to embark on this exciting journey with you. If you have any questions, reach out through official MXC community channels. Stay tuned for more updates in the ever-evolving world of crypto!
