CZ Confirmed Binance Earn Does Not Rely Any Other 3rd-Party
After Gemini Earn said that they have paused customer redemption requests due to Genesis’s Effect, CEO of Binance has announced that Binance does not rely on Genesis and any third parties for Binance Earn.
On November 16, Genesis Global Capital temporarily suspended new acquisitions and loans in its lending business due to market effects following the FTX crash. This has had a direct impact on Gemini Earn because Genesis is an important partner and provides loans to serve Gemini Earn products.
Immediately, CEO Changpeng Zhao stated:
Binance does not rely on Genesis or any other 3rd-party for our Earn products. For on-chain staking, Binance uses our own nodes where possible.
In June 2022, Binance had a detailed article on the self-sufficient business model of the Binance Earn program. Unlike Gemini Earn, Binance Earn offers reasonable rewards and avoids over-subsidization.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
May
Coincu News
Author
News
CZ Confirmed Binance Earn Does Not Rely Any Other 3rd-Party
After Gemini Earn said that they have paused customer redemption requests due to Genesis’s Effect, CEO of Binance has announced that Binance does not rely on Genesis and any third parties for Binance Earn.
On November 16, Genesis Global Capital temporarily suspended new acquisitions and loans in its lending business due to market effects following the FTX crash. This has had a direct impact on Gemini Earn because Genesis is an important partner and provides loans to serve Gemini Earn products.
Immediately, CEO Changpeng Zhao stated:
Binance does not rely on Genesis or any other 3rd-party for our Earn products. For on-chain staking, Binance uses our own nodes where possible.
In June 2022, Binance had a detailed article on the self-sufficient business model of the Binance Earn program. Unlike Gemini Earn, Binance Earn offers reasonable rewards and avoids over-subsidization.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
May
Coincu News
Other Posts
Related Posts
Latest
Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025
Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?
Press Release
Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025
Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?
