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Berrycream Crypto News

Robert Kiyosaki Of Rich Dad Poor Dad Warns Inflation Could Worsen The Depression<br>

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Berrycream Crypto News

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  1. Binance CEO Maintains Close Relations With Singapore Authorities Binancehas named Richard Teng as the new CEO of its Singapore firm. Teng formerly worked as the CEO of the FSRA at Abu Dhabi Global Market. He also spent almost a decade with the Singapore Monetary Authority. Teng commented on his hiring, saying that with the rise of crypto and blockchain technology, industry participants must concentrate more on the regulatory front by collaborating with legislators. Mr. Teng expressed his excitement at joining Binance Singapore at such a critical juncture in the blockchain and crypto industries. Teng looks forward to collaborating with the great team at Binance Singapore to strengthen their business expansion in an adaptable and responsible way by addressing stockholders’ needs, complying with best practices, and abiding with regulatory frameworks. He also asserted that they are seeing swift, widespread acceptance of blockchain and crypto innovation, which necessitates better comprehension and recognition among people, organizations, and governments, and that they pursue to collaborate intimately with business representatives and lawmakers to enhance knowledge of this fast- growing market and support its long-term development. Binance Singapore allows traders to invest in Bitcoin, Ethereum, and BNB. The platform launched in 2019 allows users to deposit and withdraw Singapore dollars using Xfers Direct. The hiring follows Binance’s heightened emphasis on worldwide regulatory compliance. Regulators have recently chastised the trade for allegedly assisting financial fraud and housing cryptocurrency scams. Moreover, existing users who do not have intermediary authentication will only be able to withdraw monies. According to the exchange, the action was taken to improve its anti-money laundering (AML) rules. Binance capped the daily withdrawal limit for unconfirmed customers last month, and the current upgrade expands on that. Binance has stated that it plans to quadruple its legal department by the end of the year in response to escalating legal concerns. According to Zhao, the firm has expanded rapidly, and adapting to the evolving market was necessary. ========================================

  2. Biggest Crypto Bloodbath in Canada As ETFs Bleed Out Significantly After Forever Traded funds of Canada, which quickly became the biggest crypto country with thousands of investors emerging from crypto, experienced the most significant dip in monthly outflows since the year 2013. It happened when Canadian crypto lenders and investors dumped their crypto and equity funds to survive the brutal market crash. As Canada became one of the biggest markets for crypto after Canadian investors quickly became a significant part of the crypto-traded funds, it quickly became the country to abandon the market amidst a severe crash. The country came under focus after its crypto ETF assets experienced a sudden redemption in outflows following CSD 700 million outflows until June. Out of this figure, about 16% of the total crypto-assets were under management, as the National Bank financial analyst Daniel Straus reported. These outflows were a direct result of Canadian investors selling off their direct indexed funds from the US, which automatically resulted in a higher equity ETF outflow. The first-ever significant monthly dip recorded in the Canadian crypto market after three years was by the end of June, when the Canadian-listed ETFs were recorded at an all-time low of CSD 628 million. The biggest loss was recorded by the RBC alliance, a coalition between BlackRock Inc and the Canadian Royal Bank when the withdrawal amount for the month of June was recorded to be exceeding the amount of CSD 1 million. Another company’s funds, iShare, which works as the large-cap fund’s tracker in Canada, was hit with a total loss of CSD 719 million as investors withdrew their funds from their accounts, which accounts for a total of 6% of the total assets. =====================================

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