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Decentralized exchange (DEX) aggregator 1inch.exchange has raised $2.8 million in its first-ever external funding round.
The investment was led by Binance Labs, with participation from FTX, Galaxy Digital, Dragonfly Capital, and several others. Kyber Network founder Loi Luu and NEAR Protocol co-founder Illia Polosukhin also backed the round.
Launched by software engineers from Porsche and NEAR Protocol, 1inch has raised $2.8 million in a funding round led by Binance Labs.
The platform was launched at the ETHGlobal hackathon last year as a liquidity aggregator connecting multiple decentralized exchanges (DEXs). This summer, it reported passing $1 billion threshold in the total volume of tokens going through its smart contracts.
Crypto exchanges Binance, FTX and Poloniex are most active when it comes to listing decentralized finance (DeFi) governance tokens, according to The Block Research.
Binance has already listed nine out of 13 DeFi tokens, including Maker and Compound. FTX follows next in Tier-1 category of exchanges with six listings, and Poloniex is at the top in Tier-2 category with 11 listings.
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Remember MtGox? Would you rather leave your portfolios on big Exchanges like Binance, Bittrex, Coinbase etc? Or you would only send tokens there when you are about to do any kind of tradings?
Remember transfer fees is a factor, and also risks of losing your tokens to hacks and exit-scams(like Gox) is another of the factors to be considered. What would you advise new crypto users and traders?
Remember to join this challenge, it’s about general Crypto/Blockchain Education/knowledge for every Commun users!
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New York banks can now list and custody Binance Stablecoin, Binance USD, (BUSD) after the recent approval by the New York Financial Department of Financial Services, NYDFS.
The NYDFS updated its greenlight list to include Binance USD meaning that banks can go ahead and use the asset without requiring any further approval from the regulatory watchdog, apart from a heads up notification.