Facebook Flips Crypto-Related Ad Ban; Bitfinex Confirms $1 Billion IEO; Binance Margin Trading 'Very Soon'

Leading today’s crypto headlines was Facebook’s announcement it will significantly relax its ad policy for a number of cryptocurrency-related products and offerings. Bitfinex was again in the news, although this time it was with respect to the publication of its whitepaper ahead of a planned $1 billion token sale. Following the $40 million hack, Binance, in an attempt to give gloomy supporters something to look forward to, revealed they will begin rolling out a margin trading system "very soon."

Bitcoin (BTC), for the first time in nearly six months, rose north of $6,000 today. At time of writing, it is trading at $6,060.33 (+2.65%). Also seeing green today was ether (ETH) and the MVIS CryptoCompare Digital Assets 10 Index, which are currently $169.79 (-0.35%) and 2,865.4 (0.75%), respectively, at time of writing.

CryptoCompare Coinlist

Facebook Flips Cryptocurrency-Related Ad Ban

In a blog post released by the social media giant, it explained it will “no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.” Worth noting, certain crypto-related ads, such as those for initial coin offerings (ICOs), that Facebook will keep banning. In relation to promoting cryptocurrencies or crypto exchanges, Facebook will continue to demand prospective advertisers firstly obtain pre-approval. This is the second time Facebook has loosened its policy on crypto-related ads since January 2018, when it introduced an all-encompassing ban.

Bitfinex Confirms $1 Billion IEO Rumors

Despite allegations of commingling from an ongoing investigation by the office of the New York Attorney General (NYAG), Bitfinex confirmed it is indeed planning to raise $1 billion through an initial exchange offering (IEO). As stated in a whitepaper published by the cryptoasset exchange yesterday, Bitfinex’s management intends to sell up to 1 billion LEO tokens at a unit cost of one tether (USDT). Reportedly, Bitfinex is currently conducting a private token sale round, which is set to close on May 11th, 2019. If required, Bitfinex will initiate a public token sale in the hope that the remainder of the LEO tokens can be sold.

Binance to Roll Out Margin Trading, CEO Reveals

In a live-streamed ask-me-anything (AMA) session, Binance co-founder and chief executive, Changpeng ‘CZ’ Zhao, declared the top-tier exchange – which yesterday suffered a 7,000 BTC hack – will begin rolling out a margin trading system “very soon.” The product is currently in a testing phase with large traders, CZ shared with his audience. Another notable outtake from the AMA was the Binance leader’s admission there are “a few different proposals and plans” in motion regarding stablecoin listings. It is “likely something may happen there,” added CZ, who was not yet able to commit to any particular option.

NFL Players Keep Buying Bitcoin; Binance Chain to Hard Fork

The top daily news from the cryptocurrency and blockchain space:

  • LedgerX wins regulatory nod on physically-settled bitcoin futures.
  • NFL players continue to buy up bitcoin.
  • Binance Chain set for major hard fork.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $12,595.5 (+11.4%) and $325.7 (+4.0%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 5,135.9 (+4.3%).

Bitcoin Ethereum CryptoCompare

LedgerX Wins Regulatory Nod on Physically-Settled Bitcoin Futures

U.S.-regulated bitcoin derivatives exchange and clearinghouse, LedgerX, had its application for designation as a contract maker approved by the U.S. Commodity Futures Trading Commission (CTFC); meaning it can now offer physically-settled bitcoin futures contracts.

With its application – which was initially filed in November 2018 – now approved by the CTFC, LedgerX will be able to list bitcoin derivatives contracts, including both options and futures, and offer them to investors, regardless of whether they are of a retail or institutional background. Such products are expected to trade on a new platform known as LedgerX Omni, the New York-based company shared in a blog post.

NFL Players Buy into Bitcoin Bull Run

How many NFL players have purchased bitcoin? At least 32.

That’s according to star NFL player and staunch Bitcoin proponent, Russell Okung, who today upwardly revised a June 17 tweet wherein he declared there were “at least 30” players in the NFL who had purchased the world’s top cryptocurrency by market cap.

Okung – who serves on the executive committee of the NFL Players Association – first updated his count on Tuesday evening (PT) from 30 to 31. Then, an hour later, he once more updated the tally to 32.

Prompting the second of the two updates was Oren Burks, a linebacker for the Green Bay Packers who responded to Okung’s June 17 tweet with the hashtag ‘HODL’, the popular term used within the crypto community when one intends to keep – rather than sell – their cryptocurrency holdings.

Binance Chain Set for ‘Galileo’ Hard Fork

Appearing on the Binance Chain community forum was a post outlining a June 26 Binance Chain testnet hard fork. The upgrade, which has been dubbed ‘Galileo’, will bring with it various changes to Binance Chain nodes, the Binance Chain client, and the fork of Tendermint upon which Binance Chain is built atop.

Some notable features of the upcoming Binance Chain hard fork include token time-locking capabilities and a newfound ability of validators to, in relation to Binance DEX, “create a delist proposal and vote on delisting trading pairs via governance.”

As for when the Binance Chain mainnet will receive the ‘Galileo’ upgrade, Tuesday’s post stated it will be “a few weeks” from now. A separate announcement will come in relation to this.