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Texas and its neighboring southeastern states are at the forefront of economic and population growth in the U.S., making them the optimal location for a new national securities exchange. James Lee, founder and CEO of TXSE Group Inc., opined: “We’re thrilled to bring to fruition the long-held vision for a national stock exchange in Texas.” The executive elaborated:
Texas and the other states in the southeast quadrant have become economic powerhouses. Combined with the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national stock exchange in Texas.
Texas and the other states in the southeast quadrant have become economic powerhouses. Combined with the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national stock exchange in Texas.
The new Texas Stock Exchange’s impending debut aligns with shifting dynamics in the equity markets that are paving the way for increased competition and alignment. As corporate issuers and sponsors of ETPs call for enhanced stability and predictability in listing standards and costs, TXSE aims to broaden access to U.S. capital markets for all investors and improve market accessibility for public companies and entities seeking public capital.
“With approximately $120 million of capital raised, TXSE is expected to be the most well-capitalized exchange entrant to file a registration with the U.S. Securities and Exchange Commission,” the announcement adds, noting that the exchange plans to submit a registration with the SEC as a national securities exchange later this year. “TXSE will be a fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission,” the company clarified.
“With approximately $120 million of capital raised, TXSE is expected to be the most well-capitalized exchange entrant to file a registration with the U.S. Securities and Exchange Commission,” the announcement adds, noting that the exchange plans to submit a registration with the SEC as a national securities exchange later this year. “TXSE will be a fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission,” the company clarified.
Texas Stock Exchange Backed by Blackrock, Citadel Securities
TXSE Group Inc. announced on Wednesday that it is launching the Texas Stock Exchange (TXSE) in Dallas, supported by leading financial institutions. The company “successfully completed its initial capital raise with participation from more than two dozen investors, including some of the largest financial institutions and liquidity providers in the world, such as Blackrock and Citadel Securities, as well as prominent business leaders from around the country,” the announcement explains, adding:
TXSE will focus on enabling U.S. and global companies to access U.S. equity capital markets and will provide a venue to trade and list public companies and the growing universe of exchange-traded products.
TXSE Group Inc. announced on Wednesday that it is launching the Texas Stock Exchange (TXSE) in Dallas, supported by leading financial institutions. The company “successfully completed its initial capital raise with participation from more than two dozen investors, including some of the largest financial institutions and liquidity providers in the world, such as Blackrock and Citadel Securities, as well as prominent business leaders from around the country,” the announcement explains, adding:
TXSE will focus on enabling U.S. and global companies to access U.S. equity capital markets and will provide a venue to trade and list public companies and the growing universe of exchange-traded products.
Backed by major financial institutions like Blackrock and Citadel Securities, TXSE Group Inc. has announced its plan to launch the Texas Stock Exchange (TXSE) in Dallas. This new exchange will provide a platform to trade and list public companies and exchange-traded products. With a capital raise of approximately $120 million, TXSE stated that it is poised to become a major player in U.S. equity markets, promoting enhanced competition and accessibility.
How Do Crypto Savings Accounts Compare to Traditional Bank Accounts?
Traditional and crypto-backed savings accounts have quite a bit in common. Both require you to deposit funds, and both pay interest based on the amount of currency you’ve deposited. You also have the ability to deposit or withdraw funds for each type of account, though some of the rules relating to that access can vary.
One of the major differences between the two kinds of savings accounts — and the driving force behind much of the interest in crypto-backed variety — is the interest rate. The average interest rate on a traditional savings account is just 0.06%. Even with high-yield savings accounts, interest rates still often fall below 1%, barring a few outliers.
Crypto savings accounts provide far better yields. While the amount can vary depending on the provider, timing and the digital currency involved, you may find some cryptocurrency-based accounts offering double-digit returns.
When it comes to withdrawing funds, traditional savings accounts usually let you withdraw what you’ve deposited at any time, as long as you make no more than six withdrawals monthly. With crypto-backed accounts, the rules vary between providers. Some may prevent you from withdrawing the cryptocurrency for a certain length of time after depositing it. You may also encounter withdrawal fees, something you don’t see with traditional accounts in most cases.
Another big difference involves federal account protection. Traditional bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC), an agency that protects accountholders and ensures they can recoup money they’ve deposited — up to a limit of $250,000 — if the bank somehow fails. The same goes for credit union savings accounts through National Credit Union Administration (NCUA) insurance.
With cryptocurrency savings accounts, there’s no guarantee that any kind of insurance is in place. If the provider or platform fails and you’re cut off from access to the wallet holding your deposits, you might never be able to recover that digital currency.
Traditional and crypto-backed savings accounts have quite a bit in common. Both require you to deposit funds, and both pay interest based on the amount of currency you’ve deposited. You also have the ability to deposit or withdraw funds for each type of account, though some of the rules relating to that access can vary.
One of the major differences between the two kinds of savings accounts — and the driving force behind much of the interest in crypto-backed variety — is the interest rate. The average interest rate on a traditional savings account is just 0.06%. Even with high-yield savings accounts, interest rates still often fall below 1%, barring a few outliers.
Crypto savings accounts provide far better yields. While the amount can vary depending on the provider, timing and the digital currency involved, you may find some cryptocurrency-based accounts offering double-digit returns.
When it comes to withdrawing funds, traditional savings accounts usually let you withdraw what you’ve deposited at any time, as long as you make no more than six withdrawals monthly. With crypto-backed accounts, the rules vary between providers. Some may prevent you from withdrawing the cryptocurrency for a certain length of time after depositing it. You may also encounter withdrawal fees, something you don’t see with traditional accounts in most cases.
Another big difference involves federal account protection. Traditional bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC), an agency that protects accountholders and ensures they can recoup money they’ve deposited — up to a limit of $250,000 — if the bank somehow fails. The same goes for credit union savings accounts through National Credit Union Administration (NCUA) insurance.
With cryptocurrency savings accounts, there’s no guarantee that any kind of insurance is in place. If the provider or platform fails and you’re cut off from access to the wallet holding your deposits, you might never be able to recover that digital currency.
What Are Crypto Savings Accounts, and How Do They Work?
On the surface, crypto savings accounts work like traditional savings accounts — they’re financial accounts that you deposit cryptocurrency into so you can begin earning interest on its value. You deposit whatever amount of cryptocurrency you’d like; whether you choose to deposit some or all of your holdings is up to you. You simply use crypto instead of a fiat currency, like dollars, to fund this type of account.
Functionally speaking, cryptocurrency savings accounts are pretty straightforward. Once you open an account with a provider, you’ll deposit your desired amount of cryptocurrency by sending it to a new crypto wallet that’s associated with your account. Once there, other platforms can borrow those crypto assets. Whenever those digital coins are borrowed, you earn interest.
The amount of interest you’ll earn is determined before other platforms borrow your crypto, giving you clear insights into the earning potential of your digital currency. However, the interest rates can change over time, meaning they can fluctuate in response to financial market conditions or adjust based on other factors. For example, when demand for cryptocurrency is high, interest rates typically rise. When demand declines, interest rates fall.
While market conditions play a big role in the equation, other elements also come into play. For instance, the provider you select matters, as some offer more competitive interest rates than others. Additionally, like all financial accounts, you could encounter savings platforms that charge fees or have other costs associated with the service, even though not all do.
It’s also important to note that the type of currency you receive as your interest payments may vary. The same goes for interest schedules, with some platforms paying interest out on a daily basis and others making monthly payments. Whether or not the interest is compounding may also change depending on the provider platform.
On the surface, crypto savings accounts work like traditional savings accounts — they’re financial accounts that you deposit cryptocurrency into so you can begin earning interest on its value. You deposit whatever amount of cryptocurrency you’d like; whether you choose to deposit some or all of your holdings is up to you. You simply use crypto instead of a fiat currency, like dollars, to fund this type of account.
Functionally speaking, cryptocurrency savings accounts are pretty straightforward. Once you open an account with a provider, you’ll deposit your desired amount of cryptocurrency by sending it to a new crypto wallet that’s associated with your account. Once there, other platforms can borrow those crypto assets. Whenever those digital coins are borrowed, you earn interest.
The amount of interest you’ll earn is determined before other platforms borrow your crypto, giving you clear insights into the earning potential of your digital currency. However, the interest rates can change over time, meaning they can fluctuate in response to financial market conditions or adjust based on other factors. For example, when demand for cryptocurrency is high, interest rates typically rise. When demand declines, interest rates fall.
While market conditions play a big role in the equation, other elements also come into play. For instance, the provider you select matters, as some offer more competitive interest rates than others. Additionally, like all financial accounts, you could encounter savings platforms that charge fees or have other costs associated with the service, even though not all do.
It’s also important to note that the type of currency you receive as your interest payments may vary. The same goes for interest schedules, with some platforms paying interest out on a daily basis and others making monthly payments. Whether or not the interest is compounding may also change depending on the provider platform.
Be Careful With Who You Trust
Whether you’re a Binance user or a blockchain startup founder, vigilance is the most powerful weapon. Criminals don’t need advanced technical skills to steal your funds — all it takes is making you believe them.
If you receive an email from someone claiming to be “Binance staff,” take note of the wording. Spoofed messages often contain subtle mistakes such as spelling, odd syntax, jarring phrases, and misspelled domain names.
Scammers often spur their victims into action by creating a false sense of urgency. For example, the scam email might say:
“Your Binance account will expire in a week. To avoid loss of funds, please move your assets into this secure wallet address.”
Users should always be suspicious of messages asking to transfer money or share sensitive information such as personal details or passwords. For more tips on safeguarding your Binance account, users can refer to our complete security guide.
Whether you’re a Binance user or a blockchain startup founder, vigilance is the most powerful weapon. Criminals don’t need advanced technical skills to steal your funds — all it takes is making you believe them.
If you receive an email from someone claiming to be “Binance staff,” take note of the wording. Spoofed messages often contain subtle mistakes such as spelling, odd syntax, jarring phrases, and misspelled domain names.
Scammers often spur their victims into action by creating a false sense of urgency. For example, the scam email might say:
“Your Binance account will expire in a week. To avoid loss of funds, please move your assets into this secure wallet address.”
Users should always be suspicious of messages asking to transfer money or share sensitive information such as personal details or passwords. For more tips on safeguarding your Binance account, users can refer to our complete security guide.
The first line of defense, however, is always the users themselves. As a member of the crypto community, it’s imperative that you:
Be vigilant and always take proactive steps to ensure you don’t fall prey to scams and impersonations.
Use the Binance Verify tool to check whether the account officially represents Binance. Please note that Binance Verify is not foolproof. For example, a scammer can spoof their “from” email address or hide behind the real name of a Binance employee. In both cases, Binance Verify would produce mixed results.
Report any suspicious activities or accounts to Binance Support
Be vigilant and always take proactive steps to ensure you don’t fall prey to scams and impersonations.
Use the Binance Verify tool to check whether the account officially represents Binance. Please note that Binance Verify is not foolproof. For example, a scammer can spoof their “from” email address or hide behind the real name of a Binance employee. In both cases, Binance Verify would produce mixed results.
Report any suspicious activities or accounts to Binance Support
When I started at Binance approximately one year ago, I was shocked by the layers of security protocols that new employees had to go through to get set up. Little did I know, the onboarding process was the easy part. Binance employees across the globe undergo regular training and random security checks to ensure they abide by the strict cybersecurity rules in place.
Despite having previously led one of the world’s largest cybersecurity teams and managed some of the largest data breaches in history (US OPM, Ashley Madison, etc.), I was not prepared for the onslaught of cyberattacks, phishing attacks, and scams that regularly target the crypto community. Now I understand why Binance goes to the lengths it does.
However, criminals will almost always find a way to adapt to and circumvent even the most secure system. Over the past month, I’ve received several online messages thanking me for taking the time to meet with project teams regarding potential opportunities to list their assets on Binance.com. This was odd because I don’t have any oversight of or insight into Binance listings, nor had I met with any of these people before.
It turns out that a sophisticated hacking team used previous news interviews and TV appearances over the years to create a “deep fake” of me. Other than the 15 pounds that I gained during COVID being noticeably absent, this deep fake was refined enough to fool several highly intelligent crypto community members.
Beyond this latest incident, there’s been a recent spike in hackers pretending to be Binance employees and executives on platforms such as Twitter, LinkedIn, Telegram, etc. We are prepared to defend our users and our ecosystem. After all, we have the largest and most experienced cybersecurity team in the industry, complete with leading investigators with experience at the FBI, US Secret Service, IRS, Europol, and other reputable agencies with a proven track record of fighting cybercrime. These world-class experts are here to help Binance build a digital asset ecosystem that is safe and secure for all users.
Despite having previously led one of the world’s largest cybersecurity teams and managed some of the largest data breaches in history (US OPM, Ashley Madison, etc.), I was not prepared for the onslaught of cyberattacks, phishing attacks, and scams that regularly target the crypto community. Now I understand why Binance goes to the lengths it does.
However, criminals will almost always find a way to adapt to and circumvent even the most secure system. Over the past month, I’ve received several online messages thanking me for taking the time to meet with project teams regarding potential opportunities to list their assets on Binance.com. This was odd because I don’t have any oversight of or insight into Binance listings, nor had I met with any of these people before.
It turns out that a sophisticated hacking team used previous news interviews and TV appearances over the years to create a “deep fake” of me. Other than the 15 pounds that I gained during COVID being noticeably absent, this deep fake was refined enough to fool several highly intelligent crypto community members.
Beyond this latest incident, there’s been a recent spike in hackers pretending to be Binance employees and executives on platforms such as Twitter, LinkedIn, Telegram, etc. We are prepared to defend our users and our ecosystem. After all, we have the largest and most experienced cybersecurity team in the industry, complete with leading investigators with experience at the FBI, US Secret Service, IRS, Europol, and other reputable agencies with a proven track record of fighting cybercrime. These world-class experts are here to help Binance build a digital asset ecosystem that is safe and secure for all users.
The head of communications for the cryptocurrency platform said scammers tricked crypto project founders into meetings using a deepfake of him.
Scammers often impersonate companies or executives through fake emails and social media profiles. Now fraudsters have reportedly taken things to the next level by creating a “deepfake” of an executive at Binance, the world’s largest cryptocurrency platform.
Patrick Hillmann, the chief communications officer at Binance, claims that a “sophisticated hacking team” used video footage of his past TV appearances and digitally altered it to make an “AI hologram” of him and trick people into meetings.
In a company blog post**,** Hillman warned users to be vigilant following the incidents.
Scammers often impersonate companies or executives through fake emails and social media profiles. Now fraudsters have reportedly taken things to the next level by creating a “deepfake” of an executive at Binance, the world’s largest cryptocurrency platform.
Patrick Hillmann, the chief communications officer at Binance, claims that a “sophisticated hacking team” used video footage of his past TV appearances and digitally altered it to make an “AI hologram” of him and trick people into meetings.
In a company blog post**,** Hillman warned users to be vigilant following the incidents.
According to a lawsuit filed by the US SEC, Binance and its founder have mishandled funds and violated US securities laws.
The world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao have been accused of misusing investor funds, operating as an unregistered exchange, and violating a slew of US securities laws in a lawsuit filed by US regulators.
Filed in a federal court in Washington DC, the US Securities and Exchange Commission (SEC) lawsuit on Monday lists 13 charges against the firm - including commingling and divert customer assets to an entity Zhao owned called Sigma Chain.
The news caused Bitcoin, the largest crypto in terms of value in circulation - worth over $500 billion (€468 billion) - to plummet, losing almost 2 per cent in a matter of minutes.
The world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao have been accused of misusing investor funds, operating as an unregistered exchange, and violating a slew of US securities laws in a lawsuit filed by US regulators.
Filed in a federal court in Washington DC, the US Securities and Exchange Commission (SEC) lawsuit on Monday lists 13 charges against the firm - including commingling and divert customer assets to an entity Zhao owned called Sigma Chain.
The news caused Bitcoin, the largest crypto in terms of value in circulation - worth over $500 billion (€468 billion) - to plummet, losing almost 2 per cent in a matter of minutes.
How To Withdraw Crypto From BinanceWithdrawing crypto from Binance to another wallet is an easy process but may be delayed due to network congestion and verification by the receiving blockchain. To withdraw any crypto or fiat currency, log in to Binance and click on "Wallet" then "Withdraw". Next, select the crypto you would like to withdraw. Some crypto can be issued on multiple networks so you need to select the exact network. After this, you will need to copy the exact wallet address and click "Submit". Tap the coin in the receiving wallet and click "Receive". How to Withdraw Fiat From BinanceBinance supports a wide range of fiat currencies. To withdraw, log into your account, then click on "Wallet" and "fiat and spot". Click "Withdraw" then select "Fiat". Choose the currency you'll like to withdraw, then proceed to select the payment method.
This process varies depending on countries and regions. Enter the withdrawal amount and confirm. Most of the time, funds should be received within 30 minutes. You'll be charged withdrawal fees. Before every withdrawal is complete, you must complete the 2-step authentication process.
This process varies depending on countries and regions. Enter the withdrawal amount and confirm. Most of the time, funds should be received within 30 minutes. You'll be charged withdrawal fees. Before every withdrawal is complete, you must complete the 2-step authentication process.
How Safe Is Binance?Binance is a generally secure exchange, although it suffered a major hack in 2019 that resulted in 7,000 Bitcoins worth $40 million being stolen from the exchange. Binance has since strengthened its security and has promised that all losses will be recovered through its insurance fund. Binance uses two-factor authentication (2FA) to help secure user accounts. A well-known expression used by Binance CEO, Changpeng Zhao (CZ), to assure users is “SAFU”, implying that Binance’s funds are safe. While it initially only meant that funds are secure (here’s how), it now stands for “Secure Asset Fund for Users”, an emergency “rainy day” insurance fund.Binance has also previously worked with authorities to freeze hacked assets or criminals’ accounts, although it doesn’t roll back hacks on its proprietary blockchain Binance Smart Chain (BSC).
What Is Binance Coin (BNB) And How To Buy It?Binance Coin (BNB) is the cryptocurrency that powers the Binance ecosystem. At the time of writing, it ranks third in the list of top cryptocurrencies according to market capitalization. Back in 2017, Binance Coin (BNB) was created as a utility token to offer discounts on trading fees on the exchange. Within a short span of time, its uses have expanded. The coin can now be used on Binance Launchpad to avail free tokens of new projects. It can also be used as a payment method for travel bookings, entertainment services, and financial services. It is also used to pay the transaction fees on Binance Smart Chain. Just like any other cryptocurrency, BNB can be bought on a number of exchanges, including Binance, KuCoin, FTX, Gate.io, Bithumb, and Poloniex, among others.