Binance Is Rolling Out A Platform For VIPs, Amidst Global Crypto Crash

Binance Is Rolling Out A Platform For VIPs, Amidst Global Crypto Crash

Binance, one of the biggest cryptocurrency exchanges globally has announced the launch of a new platform. The Binance Institutional will be a new platform for institutions and VIPs and it will be offering a broad range of services.
One of these includes algorithmic trading and a broker program for companies looking to utilize Binance’s exchange.

The announcement is coming up at a point where the crypto market is suffering a crash, and some other exchanges are downsizing.
According to our source, the new platform will attend to high net worth individuals and institutional investors, including asset managers, hedge funds, and family offices, among others.
The services will also include algorithmic trading, asset management and a broker program for companies looking to utilize Binance’s cryptocurrency exchange.

Binance’s BNB coin rose 5% to $241.67 after the announcement was made.

The new platform comes as top tokens like bitcoin and ethereum fell over 70% from their all-time highs last November and the total crypto market cap has plunged to less than $1 trillion after peaking at $3 trillion last year.
Binance CEO Changpeng Zhao has however shrugged off the cryptocurrency crash. He tweeted on Thursday, “I am most bullish in bear markets.”

Zhao also tweeted on the 15th of June that Binance is hiring for more than 2,000 positions while rival exchange platform, Coinbase implements a hiring freeze and BlockFi slashes a fifth of its workforce.

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