In this section, find each week the Analyzes and Crypto News not to be missed this week: GENESIS on the Verge of Bankruptcy?
Genesis on the Verge of Bankruptcy?
Already severely weakened by the bankruptcy of FTX, Genesis is in critical condition this Friday, November 18.
The platform has been hit hard by a series of payment defaults and of liquidations which shook the company’s accounts, in an industry considered to be very interdependent, in particular at the level of a subsidiary specializing in cryptocurrency loans.
48 hours ago, Genesis announced that redemptions and new loans were suspended in view of the exceptional volume of withdrawal requests.
The Wall Street Journal reported this morning that Genesis facing a massive cash outflow, Genesis has no choice but to attempt a quick recapitalization of one billion euros.
Time is running out, Genesis would only have three days to get out of it. The platform indicated that this fundraiser must be completed Monday at 10 a.m. Binance Exchange, which has already expressed interest in acquiring the company, will it emerge as the saviour?
DEX, the new Eldorado for gamers?
Battle Infinity is one of this year’s flagship projects. The platform concluded its pre-sales in record time, in just 24 days, three months before the scheduled deadline. Which pushes its $IBAT token to the top of the most promising cryptos. Buoyed by this great excitement, the team launched its decentralized platform on November 16, 2022.
A new platform DEX created by the Battle Infinity team was born under the name of Battle Swap. Players can use this tool to exchange their $IBAT tokens for one of four other cryptocurrencies of their choice. This will therefore avoid wasting time for crypto investors with various operations and manipulations.
Free courses offered by Binance?
Binance announced the launch of free online courses. In order to educate the public on the blockchain, them cryptocurrencies and the web 3 in general. These courses cover the uses, benefits as well as the risks of cryptocurrencies.
These courses will take place on Binance Academy and are open to everyone. The course for beginners consists of 6 modules that explain the basics of crypto, blockchain technology and various investment strategies. At the end of this course, participants will receive a certificate in the form of an NFT or play to earn games.
Entitled “ Blockchain Fundamentals “, this course will soon be accompanied by intermediate and advanced courses. Additionally, Binance will introduce professional certificates for those who wish to launch a career in the blockchain industry and cryptocurrencies in general. These modules will be available in English, but other languages should be available soon.
Cryptocurrencies of the Week
I don’t have much to share with you given the general context and the many twists and turns that have taken place this week. Nevertheless, we still see that the BNB stands out.
BNB
It is often said that the misfortune of some is the happiness of others. the trading volume on Binance increased by 300% since the fall of FTX.
Following the bankruptcy of FTX, Binance became the only big winner from this situation and continues to expand its position as the number 1 exchange platform. At the same time, the Coinbase platform is up 40%. BNB is in a weekly range between $330 and $210, but Binance continues to widen the gap and the exchange now seems unbeatable.
Don’t forget to read our news from last week !
This article is not investment advice. Do your own research before investing in the cryptocurrency market.