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Demands of Transparency for Crypto Exchanges after crash and its Effect on BTCUSDT

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Demands of Transparency for Crypto Exchanges after crash and its Effect on BTCUSDT

November 17
15:44 2022

With the fall of FTX and FTT, the cryptocurrency industry is under deeper scrutiny. While FTT investors and FTX users may find themselves stuck with their funds, others also suffered losses during this bloodshed that affected other major currencies. BTCUSDT pair started trading at $15757.20, resulting in the all time low for the year 2022.

Many claim that this marks progress in Crypto with higher expectations of transparency, whilst many are losing faith in Bitcoin and other Cryptocurrencies. Nonetheless, during these times of uncertainty, crypto exchanges have risen to give hope to their users.

BingX, the world’s leading social trading crypto exchange announced a special relief package of USDT $5million. While the aftermath of the crash is still in its early stage, BingX aims to lessen the impact it has on the Crypto industry.

“It is incumbent on us to do everything we can to avoid a slide into complete chaos after FTX’s crash”, said Elvisco Carrington, PR and Communications Director at BingX. “There will be a lot of innocent victims and some extremely tough knock-on effects. We are sorry to see this tragedy. We understand that partners of BingX also have suffered great losses, and we will unite as one. BingX wishes to light up a big campfire in this winter season by fulfilling our enterprise social responsibility. Hold hands, and we will thrive.”

While the market is taking a turn for the worse, it is expected that more traders will turn to contract trading, if you are unfamiliar with contract trading, you can copy top traders on BingX.

About BingX

Founded in 2018, BingX is a leading Crypto Exchange that offers spot, derivatives and copy trading services to more than 100 countries and regions worldwide with over 5 million users. Top pairs are available on BingX Web and App platform –  BTCUSDT , ETHUSDT , XRPUSDT, LINKUSDT, and ADAUSDT. BingX connects users with expert traders and the platform in a safe, leading, and innovative way.

Crypto and Gaming – how will this affect top Crypto Prices

1. With the rise of the internet, gaming and entertainment has been a growing industry.

2. Millions of dollars are spent just to hold yearly competitions

a. Riot (League of Legends Worlds 2022) – Top Artists like Jackson Wang and Lil Nas X are even involved with the performance b. Dota Major League 2022 – A grand prize of 19 Million dollars.

3. Whilst these games are not directly related to Crypto, we know that the demographics are pretty similar

4. Crypto games such as Axie Infinity and The Sandbox have proved that Crypto and Gaming share some similarities

a. https://blog.bingx.com/insights/an-obvious-match-how-esports-and-crypto-gaming-are-moving-closer/

5. While not all of us are gamers, how can one get into a growing industry like this?

a. Invest in Cryptocurrencies related to gaming(SLP, SAND, TVK, COCOS)

Media Contact
Company Name: BingX
Contact Person: Elvisco
Email: Send Email
Country: Singapore
Website: bingx.com/en-us/

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