Home / Trend News /BinaryX Releases Trailer And Opens Beta Test For Futuristic Space Game Project Matthew

BinaryX Releases Trailer And Opens Beta Test For Futuristic Space Game Project Matthew

13 Mar 2023

On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement.

Binance CEO Changpeng Zhao (CZ) announced on Monday that the company had converted $1 billion BUSD into bitcoin (BTC), BNB, and ethereum (ETH). “Given changes in stablecoins and banks, Binance will convert the remaining $1 billion from the Industry Recovery Initiative funds from BUSD to native crypto, including BTC, BNB, and ETH. Some fund movements will occur onchain. Transparency,” Zhao said.

After tweeting the announcement, CZ shared an address for the Industry Recovery Initiative and a transaction explorer link for the transfer that the exchange handled. One person replied to CZ’s Twitter thread and said: “People who are a bit unnerved by recent stablecoin developments will feel much more reassured.” The Binance CEO responded that he “didn’t even think about it that way. I was just discussing how to keep the funds in a safe asset. But that works too.”

At the time of writing, Binance holds 7.56 billion BUSD stablecoins, according to Nansen’s exchange portfolio tool. CZ’s announcement comes as USDC had troubles this weekend holding parity with the US dollar after the failure of Silicon Valley Bank (SVB). Furthermore, US regulators forced Paxos to stop issuing BUSD, and billions of BUSD tokens have been removed from circulation since.

While BUSD has faced regulatory scrutiny, the stablecoin managed to stay within the $0.99 to $1 range most of the time. On March 11, 2023, BUSD slightly dipped to the $0.9848 range for a short period of time, but remained stronger than five other stablecoins that deviated from $1 parity over the past weekend.

What are your thoughts on Binance’s decision to convert $1 billion BUSD into bitcoin, bnb, and ethereum? Share your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement.

Binance CEO Changpeng Zhao (CZ) announced on Monday that the company had converted $1 billion BUSD into bitcoin (BTC), BNB, and ethereum (ETH). “Given changes in stablecoins and banks, Binance will convert the remaining $1 billion from the Industry Recovery Initiative funds from BUSD to native crypto, including BTC, BNB, and ETH. Some fund movements will occur onchain. Transparency,” Zhao said.

After tweeting the announcement, CZ shared an address for the Industry Recovery Initiative and a transaction explorer link for the transfer that the exchange handled. One person replied to CZ’s Twitter thread and said: “People who are a bit unnerved by recent stablecoin developments will feel much more reassured.” The Binance CEO responded that he “didn’t even think about it that way. I was just discussing how to keep the funds in a safe asset. But that works too.”

At the time of writing, Binance holds 7.56 billion BUSD stablecoins, according to Nansen’s exchange portfolio tool. CZ’s announcement comes as USDC had troubles this weekend holding parity with the US dollar after the failure of Silicon Valley Bank (SVB). Furthermore, US regulators forced Paxos to stop issuing BUSD, and billions of BUSD tokens have been removed from circulation since.

While BUSD has faced regulatory scrutiny, the stablecoin managed to stay within the $0.99 to $1 range most of the time. On March 11, 2023, BUSD slightly dipped to the $0.9848 range for a short period of time, but remained stronger than five other stablecoins that deviated from $1 parity over the past weekend.

What are your thoughts on Binance’s decision to convert $1 billion BUSD into bitcoin, bnb, and ethereum? Share your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher.

Litecoin (LTC) rose by as much as 15% to start the week, as cryptocurrency markets rebounded from recent losses.

LTC/USD surged to an intraday high of $79.53 earlier in today’s session, less than 24 hours after hitting a low of $68.66.

The move saw litecoin climb to its strongest point since last Friday, when the token was at a peak of $84.92.

Looking at the chart, one catalyst of the move appears to be the 14-day relative strength index (RSI), which broke out of a recent resistance point.

As of writing, the index is tracking at 41.05, following a move beyond the aforementioned ceiling at 40.00.

Should momentum continue in this direction, there is a strong chance that LTC bulls will take price to a ceiling at $85.00.

In addition to LTC, ethereum classic (ETC) also rebounded from recent lows during Monday’s session.

Following a low of $17.05 on Sunday, ETC/USD raced to a peak of $20.20 to start the week.

This high has also acted as a point of resistance in recent weeks, and since a collision earlier in the day, bullish momentum has marginally eased.

At the time of writing, ETC/USD is trading at $19.65, which is still nearly 15% higher than yesterday’s bottom.

Overall, it appears that previous bulls have moved to secure gains, as the RSI nears a ceiling of its own at 48.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Bullish, ethereum classic (ETC), litecoin, LTC

Will this uptrend continue for the remainder of the week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher.

Litecoin (LTC) rose by as much as 15% to start the week, as cryptocurrency markets rebounded from recent losses.

LTC/USD surged to an intraday high of $79.53 earlier in today’s session, less than 24 hours after hitting a low of $68.66.

The move saw litecoin climb to its strongest point since last Friday, when the token was at a peak of $84.92.

Looking at the chart, one catalyst of the move appears to be the 14-day relative strength index (RSI), which broke out of a recent resistance point.

As of writing, the index is tracking at 41.05, following a move beyond the aforementioned ceiling at 40.00.

Should momentum continue in this direction, there is a strong chance that LTC bulls will take price to a ceiling at $85.00.

In addition to LTC, ethereum classic (ETC) also rebounded from recent lows during Monday’s session.

Following a low of $17.05 on Sunday, ETC/USD raced to a peak of $20.20 to start the week.

This high has also acted as a point of resistance in recent weeks, and since a collision earlier in the day, bullish momentum has marginally eased.

At the time of writing, ETC/USD is trading at $19.65, which is still nearly 15% higher than yesterday’s bottom.

Overall, it appears that previous bulls have moved to secure gains, as the RSI nears a ceiling of its own at 48.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Bullish, ethereum classic (ETC), litecoin, LTC

Will this uptrend continue for the remainder of the week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

PRESS RELEASE. Singapore, Singapore, 13th March 2023, Chainwire. BinaryX announced today the upcoming release of a space-building simulation game, Project Matthew. The team just released the trailer video which gives a first look at the game, and is also opening registration for their Closed Beta Test happening soon.

Introducing Project Matthew: The Exciting New Space-Building Game

Project Matthew is an upcoming space-building simulation game published by BinaryX.

The game takes place in outer space, where players have taken over as landlords of a distant land called Matthew. The goal of the game is for players to build their own extraterrestrial cities, by setting up industrial production lines that produce resources for further development.

Develop A City

The adventure begins as players are given an NFT plot to start their city. Players can build different types of helper robots that will contribute different skills to scavenge, battle, or explore new territories to develop the city.

Lead A Virtual Army

Players can recruit a robot army with different skills and abilities, and challenge enemies on the battlefield to earn massive rewards. The battlefield is divided into different levels of difficulties. The more difficult the level, the greater the rewards.

Explore Space

Exploration is one of the primary ways to obtain rewards and resources in Project Matthew. The gameplay features a collection of neighboring and faraway planets waiting to be explored.

“Project Matthew is our biggest project for the first half of 2023. We wanted to bring in new genres of games into the BinaryX ecosystem, and this game is the first ever simulation game that we will have on our platform. We want our players to immerse themselves in space as landowners and explorers. We’re really excited to welcome a whole new group of space enthusiasts and simulation gamers into our expanding community”, said Rudy S., Global Head of Business Operations and Development of BinaryX.

BinaryX is kicking off the launch of Project Matthew with a Closed Beta Test. Registration starts on 13 Mar, 9 PM UTC+8, and closes on 20 Mar 6 PM UTC+8.

The Closed Beta Test will be available to Windows users only, with more details to be revealed on their registration page and social media channels.

Register for the closed beta test here.

About BinaryX

BinaryX is the GameFi platform behind play-to-earn games CyberDragon and CyberChess, both of which run on the BNB chain.

BinaryX began as a decentralised derivative trading system. The team gradually evolved into developing decentralised video games, and is now a GameFi platform offering IGO services to bridge Web2 developers to Web3.

As one of the top 10 projects on the BNB Chain, BinaryX has a vast community of more than 100k coin holders and 17K monthly active wallets. It is also one of the largest metaverse projects by trading volume on the BNB chain, with more than 200 million in market cap. BinaryX also has a token, $BNX, that has consistently demonstrated strong performance despite the bear market.

For more details and information about BinaryX, please visit www.binaryx.pro

About BinaryX deck

Find BinaryX on social media: BinaryX | Twitter | Discord | Telegram | YouTube | Medium

Contact

Communications Lead

Kora K.

BinaryX

marketing@binaryx.pro

 

 

 

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

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