Binance Lending Phase 3: XRP, BNB, LTC, ETC, USDT, and USDC Lending Products

On Monday (September 9), Binance announced the upcoming launch of phase three of the Binance Lending platform. 

According to Binance's announcement, at 06:00 UTC on 11 September 2019, the following 14-day fixed-term lending products will become available:

Binance Lending Phase 3 Table.jpg

The subscription period is from 06:00 UTC on September 11 to 00:00 UTC on September 12, and the format is "first-come-first-served". The interest calculation period begins at 00:00 UTC on September 11 and ends at 06:00 UTC on September 25. The interest will be paid out "immediately after loan term matures."

Binance announced on August 26 that it was going to launch a crypto lending platform on August 28.

Phase one went live at 06:00 UTC on August 28, and it offered 14-day fixed term lending products for Tether (USDT), Binance Coin (BNB), and Ethereum Classic (ETC).

Phase two went live at 06:00 UTC on September 4, and it offered 14-day fixed term lending products for USDT, ETC, ADA, ETH, BTC, as well as 28-day fixed term lending products for BNB, BTC, and USDT.

Featured Image and Lending Products Table Courtesy of Binance

Bitcoin Whale Reportedly Risks 800 BTC for $0.01 Payout in Dogecoin

A bitcoin whale has supposedly risked a total of 800 BTC, worth around $5.8 million, to help the cryptocurrency remain at the $7,200 mark in a bid to win a bet he made on social media.

A Twitter exchange between Dogecoin supporter Samu and bitcoin whale Joe007 shows that both agreed to bet on bitcoin’s future price, with Samu agreeing to pay 5 million DOGE (around $11,000) to the whale if BTC traded above $7,100, and the whale agreeing to pay Samu the same amount if it was below $7,100 at 13:00 UTC on December 12.

The BTC whale ended up winning the bet as the price of the flagship cryptocurrency didn’t drop below the agreed-upon mark. Some of those watching the thread, however, noted that something seemed to be going on before the bet’s deadline expired.

The bet was made according to the price of the Bitfinex cryptocurrency exchange, and a trader soon alleged on social media the BTC whale could’ve placed an 800 bitcoin order to “defend” the $7,200 so the cryptocurrency’s price wouldn’t dip.

While it isn’t possible to tell whether Joe007 was the one behind the 800 BTC order, the whale seemed to warn Samu before the bet was made that he was extremely confident he was going to win, tweeting out “you really don’t want to make this bet, believe me…”

After the deadline the posts suggesting market manipulation came out so Samu said he “got revenge” on the bitcoin whale cheating, by offering to pay him only 6 DOGE, currently worth about $0.013.

The Dogecoin addresses Joe007 showed as the destination for the funds currently has little over 10,000 DOGE in it, worth close to $22. Some argued Samu should have paid the funds as no terms were defined in the bet, while others agreed with him.

Featured image via Unsplash.