Bitcoin Is Splitting Into Two Currencies and Nobody Knows What's Going On
Binance, the world's largest cryptocurrency exchange by trading volume, has topped up its $1 billion Safu Fund to $1.2 billion.
The move comes amid ongoing price fluctuations in the cryptocurrency market and as investors continue to assess the impact of bitcoin's split into two currencies last month.
The move comes as Binance CEO Changpeng Zhao said that he expected the new bitcoin spinoff to change the landscape for cryptocurrencies significantly.
We're very optimistic about bitcoin cash, Mr Zhao told Bloomberg TV at the Money20/20 conference in Amsterdam on Wednesday. It will bring a lot of innovation and change.
Binance is one of several exchanges that have been working on projects related to bitcoin cash, which was created last month by splitting off from bitcoin's blockchain network.
Mr Zhao said that Binance was considering listing new assets on its platform for trading pairs with fiat currencies such as US dollars or euros, although he did not specify when this would happen.
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