Binance says Look Ma No Fees

While Celsius and Three Arrows are trying to sort out their liquidity we are sorting out the crypto news for you. Today we have a banger. Read on.

Today's Topics:

• Binance says Look Ma No Fees

• eBay goes Shoping

• YouTuber Coin Bureau breaks down 3AC collapse

• Quick Links

Binance says Look Ma No Fees

Binance.US is giving traders a break during this bear market by eliminating all fees on spot Bitcoin trading. Traders can swap Bitcoin for US dollars, Tether, USDC and Binance USD without spot trading fees. FREE is amazing, right?

The exchange offers the lowest trading fees among major crypto exchanges. Moves like this should make Coinbase and Kraken reconsider their fee strategy.

Robinhood led the way in equities by offering free trading and it looks like Binance is looking to do the same in crypto. Binance will most likely make money from your uninvested deposits, fees from other trades, or payment for order flow. Gotta pay for engineers somehow.

Let's see which other crypto brokers jump on the free trading train in the near future. Can we pencil in ETH for free trades?

eBay buys KnownOrigin an NFT marketplace

eBay the online auction company jumped into the NFT game not too long ago. Someone high up there decided the move to NFTs was not happening fast enough.

On Wednesday eBay announced the acquisition of KnownOrigin. Terms of the deal were not disclosed. Funny enough for a company called KnownOrigin we did not "know about their origin" until this deal broke.

We are guessing this is more of an acquihire since the team only has $7.8M in trade volume since launch in 2018. For context OpenSea did more than double that in the last 24 hours.

Sometimes it is better to buy vs build. If a team already has a working product eBay can throw its might into it to grow at a faster pace. Look what Google did with YouTube back in the day?

Coin Bureau breaks down the 3AC collapse

To sum it up he goes over how you take a lot of money and turn it into very little.

Quick Headlines

Voyager Digital stock takes a trip down Pain Lane - Three Arrows Capital owes them 15,250 Bitcoin and $350M in USDC. That is a lot of yachts.

dYdX the DEX is building it's own blockchain - Guess they like to do things in hard mode.

Tether launching stablecoin pegged to British pound - Called GBPT it will be available first on the ETH blockchain.

Funding News:

FalconX platform raises $150M at 8B valuation - Kudos to them for doubling valuation when crypto is cratering

Prime Trust bags $107M to build out crypto infrastructure - They will support crypto IRAs and tokenized products

Roxe a blockchain payment outfit is trying to SPAC - We thought SPACs were dead but guess not?

Scams:

Previous Huobi Manager accused of illegal trading - Dude made about $5M trading against his own company.

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Disclosure: We are a newsletter for information only. We are not financial advisors nor do we claim to be. Consult your legal, investment or tax advisor. Crypto is risky. Do you own research.