Binance to Venture Into Media Industry to Promote Crypto Industry
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Binance CEO Changpeng Zhao, CZ, noted that they “want to identify and invest in one or two targets in every economic sector and try to bring them into crypto.” The billionaire exchange founder believes that spreading the company’s reach into the media industry could help the industry attract more adoptions.
The FT report also revealed that profiting off crypto transaction fees, the exchange’s primary source of profit is under threat from regulatory calls from policymakers across the globe.
CZ noted that the company was strategically assembling a compliance and enforcement team of professionals to address all regulatory matters. Binance has also launched its customer-checking software, similar to the ones used by traditional banks, to up its KYC (know-your-customer) compliance for users. Zhao added that his company now has 70 employees in the UK focused on regulatory matters.
The UK has been one of the most restrictive in its regulatory measures against Binance, with its Financial Conduct Authority (FCA) coming down hard on different occasions on the exchange. The FCA even forced the giant exchange to cease its operations in the UK last year.
Key Binance Coin Levels to Watch — March 11
Binance Coin (BNB) has struggled to record a decent bounce to $380 over the past 24 hours amid a bearish sentiment in the broader market. Meanwhile, the recent bearish momentum has resulted in the formation of a double-bottom pattern indicating a possible bullish continuation over the weekend.
That said, I expect a price boost towards the $400 top in the coming days, considering that a bearish move beyond the $365 support appears unlikely at this time.
Meanwhile, my resistance levels are $380, $390, and $400, and my support levels are $365, $350, and $340.
Total Market Capitalization: $1.73 trillion
Binance Coin Market Capitalization: $61.2 billion
Binance Coin Dominance: 3.53 %
Market Rank: #4
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