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BNB Chain Launches Q2 2024 Hackathon: One BNB - Coding the Future, Prizes Over $470k
BNB Chain has announced the "One BNB – Coding the Future" hackathon in Q2 2024, following the successful launch of opBNB and BNB Greenfield in 2023. The event, spearheaded by the vibrant BNB Chain community, endeavours to pioneer blockchain solutions embracing the "One BNB" multi-chain journey ethos.

Besides annual sponsors – Polyhedra Network, Dora Factory, DEGO Finance, TUSD, Sonorus, and THENA – BNB Chain also welcomes new sponsors Baby Doge and Holoworld AI this quarter. Participants can look forward to an exhilarating dive into the world of decentralized applications, potentially transforming their ideas into tangible real-world solutions.

Prizes for the Hackathon exceed $470k, with rewards including a $50,000 Winner prize pool, $10,000 for honorable mentions, $60,000 unlockable milestone rewards, and a total of $300,000 in Kickstart programs, among others. Additionally, an extra prize pool of up to $51,500 is also available for participants competing in the sponsor’s challenge track.

Entry to the Hackathon is straightforward, and more details on the registration process can be found on the website. Post competition, winners will be extended support from BNB Chain for up to a month, aiding the successful deployment and launch of projects. Notably, all winners will also be granted a $50,000 comprehensive Kickstart program package and get direct interview opportunities with MVB, enhancing their chances of joining this esteemed community.

We look forward to the outpouring of creativity and technical prowess as we embark on this exciting chapter of Blockchain technology evolution. The BNB Chain 2024 Hackathon marks not just a competition but a journey of innovation, transparency, and transformation.
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Philippines SEC Bans Binance, Affects Filipino Crypto Users
Philippines SEC bans Binance, sparking worry among Filipino crypto investors

The recent ban on Binance by the Philippines Securities and Exchange Commission (SEC) has stirred concerns among Filipino investors about the fate of their cryptocurrencies.

Attorney Paolo Ong, from the SEC, detailed in an interview how the ban is part of broader regulatory efforts, not solely targeting Binance but including other platforms operating without compliance.

Binance’s situation echoes the broader regulatory crackdown on crypto exchanges in the Philippines, with approximately 14 platforms banned in 2023 for similar compliance failures.

Ong emphasized, “We’re not singling out Binance,” showcasing the SEC’s uniform approach to protecting investors.

See Also: Paraguay’s Proposed Crypto Mining Ban Could Cost It $200m A Year

In a similar vein, eToro faced warnings for lacking the necessary registrations and licenses, mirroring Binance’s regulatory issues.

Both platforms were highlighted for operating without SEC approval, stressing the importance of compliance in the region.

For Binance users worried about accessing their funds, Ong mentioned a “grace period” had been given, starting from an advisory issued last November, allowing ample time for users to transfer their assets out of the platform.

The SEC is drafting regulations to safeguard the booming crypto transactions in the Philippines, which hit $80 billion in 2023.

The creation of the Innovation Office aims to educate the public on the risks and opportunities of new financial technologies while the regulatory framework is being finalized.

Despite the SEC’s clear stance, neither Binance nor eToro has applied for a license to operate in the Philippines, highlighting a gap in efforts to comply with the country’s financial regulations.

This situation underlines the SEC’s dedication to protecting investors and ensuring that financial platforms operate within the legal framework.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

#Binance #WRITE2EARN

The post Philippines SEC Bans Binance, Affects Filipino Crypto Users appeared first on BitcoinWorld.
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