The TWT token rate fell by 13% after the launch of Web 3.0-

What happened? Binance, the largest cryptocurrency centralized exchange (CEX), has released its own non-custodial Web 3.0 wallet to work with the decentralized finance (DeFi) ecosystem. The tool supports more than 30 blockchains. It is downloaded and accessed through the platform application.

🛡 Trust Wallet introduces Wallet as a Service (WaaS) - a new service for business and corporate clients.

🐋 HSBC will offer tokenized asset custody (RWA) services to institutional clients. The launch of the corresponding platform is planned for 2024.

#HSBC

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Update: Binance Web3 terms of use state that the wallet is linked to an account on the exchange (where KYC is required) and transactions will be monitored by platform tools for suspicious activity. Binance reserves the right to release this information at the request of law enforcement.

The solution uses MPC technology, breaking the access key into several fragments, part of which is stored on Binance servers. Considering the above, the wallet can be safely called custodial (centralized), while Trust Wallet allows you to store your keys yourself (non-custodial).

Among other interesting points, the wallet is regulated by Hong Kong law.

#Binance

Bloomberg learned about Circle's plans to hold an IPO in 2024

The issuer of the second largest stablecoin by capitalization, USD Coin (USDC), is considering the possibility of an IPO in early 2024. According to a company representative, going public has long been part of Circle's strategic plans.

Binance has confirmed that its reserves in SHIB fully cover client assets

Happycoin.club - On November 1, the largest cryptocurrency exchange by trading volume, Binance, published a new reserve confirmation report, generated as a result of an independent audit. Of particular note is the fact that Binance stores $601.57 million of client funds in Shiba Inu (SHIB).

According to the published document, Binance holds 77.48 trillion SHIB in its reserves. Exchange clients, in turn, have SHIB 75.19 trillion, which means their assets are covered by 103%. This is 300 basis points above the required 1:1 ratio.

Additionally, the centralized exchange records its proof of reserves on the Bitcoin (BTC) blockchain. Thanks to this, we see that the November self-audit took place at block 814748.

SHIB is currently trading at $0.00000820 per token. Throughout the past week, Shiba Inu has been moving in a bullish trend, rising in price by 6.9% during this time.

SHIB price chart for the week. Source: CoinGecko

Notably, Binance is the largest holder of SHIB tokens, as the exchange's reported reserves account for 13.15% of Shiba Inu's total supply.
#shiba

⚙️ Binance presented a Web3 wallet for interaction with the DeFi segment.

It supports 30 blockchains. Users can create a wallet through the Binance mobile app. It is unclear whether this will require KYC.

Amid the announcement, Trust Wallet Token (TWT) fell by 12%.
#Binance

🇭🇰 Cryptocurrency-focused Swiss SEBA Bank announced that its subsidiary in Hong Kong has received a license from the local financial regulator to provide services related to cryptocurrencies.
#Seba#Hong Kong