![]() ![]() affiliate of Binance halted dollar deposits last week and gave customers a deadline of June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets. Under other provisions in the proposed agreement, Binance.US will create new crypto wallets to which the global exchange's employees have no access, provide additional information to the SEC and agree to an expedited discovery schedule, the filings said. User funds have been and always will be safe and secure on all Binance-affiliated platforms." these prohibitions are essential to protecting investor assets," Gurbir Grewal, director of the SEC's enforcement division, said in the statement.Ī Binance spokesperson said in a statement on Saturday: "Although we maintain that the SEC's request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms. "Given that Changpeng Zhao and Binance have control of the platforms' customers' assets and have been able to commingle customer assets or divert customer assets as they please. The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets. Under the agreement, which does not resolve the SEC lawsuit, Binance.US will take steps to make sure that no Binance Holdings officials have access to private keys for its various wallets, hardware wallets or root access to Binance.US's Amazon Web Services tools, the court filings showed. exchange Coinbase (COIN.O) represented a dramatic escalation of a crackdown on the industry by U.S. The suit and one filed by the SEC the following day against major U.S. customers from its platform and misled investors about its market surveillance controls. The SEC on June 5 sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator, alleging that Binance artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S. customer assets do not go offshore, the agreement allows only Binance.US employees access to these assets. The agreement, disclosed in court papers filed late on Friday, still requires the approval of the federal judge overseeing the litigation. customer assets remain in the United States until a sweeping lawsuit filed this month by the regulatory agency is resolved. Securities and Exchange Commission to ensure that U.S. Hi Guys, would you keep your Doge coins in Doge wallet or Binance I use Binance for all my other Crypto and seems safe, but have kept my Doge in Doge Wallet for sometime, but just after opinions on this Cheers. I'm happy for any shibe to copy-paste these answers, and I think they resolve 99% of queries about supply.June 17 (Reuters) - Binance, the world's biggest cryptocurrency exchange, and Binance.US have entered into an agreement with the U.S. This amounts to 3.9% supply inflation in 2021, and every year it gets lower, but it never gets to literally 0%. Doge's new supply is fixed eternally at 10k per block. It is not like fiat which lacks a cap because the supply can be adjusted at any point. Therefore Dogecoin is a deflationary coin.Įlon Musk expressed this point succinctly when he wrote: "Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault."Īnswer: Dogecoin has a cap, and that cap is 10k per block. At some point (and maybe already) these lost coins will outweigh the new supply. There are always coins lost due to abandoned dust and lost keys.Over time new supply eventually would fall to an arbitrarily low value (0.0000000000001% per year, etc) but can never reach exactly 0%.Dogecoin supply inflation is currently 3.9% per year, and it falls every year.Binance only finally added Dogecoin in summer 2019 when either a shibe finally capitulated and paid the bribe to support Dogecoin or. I provide an explanation which is a little simplified and geared toward newcomers.įor people who say Dogecoin is "unlimited" or "permanently inflationary" Despite Dogecoin being a top crypto since its inception in 2013, Binance had long refused to support Dogecoin unless they were paid a 'listing fee' aka a bribe of 500,000. Perhaps it can help if we reframe things a little and have a simplified and clear explanation that doesn't provoke counter-questions. I'm keen to try to help find a way to help Patrick and others get more sleep and not need to explain obvious stuff to people. Here is the explanation by u/CEO_OF_DOGECOIN that you should read: ![]()
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