Saturday, Aug 13, 2022
Outlook Money

Former TikTok CEO Launches Blockchain Gaming Startup, Binance Removes Fees On Some Trades

Jason Fung, former CEO of TikTok's gaming team, launched Meta0, a blockchain video game firm. Bitcoin rose by 2.49 per cent as global markets trade in the green.

Former TikTok gaming team CEO Jason Fung has started Meta0, a blockchain video game company.

Jason Fung, the former CEO of TikTok's gaming team, has founded Meta0, a blockchain video game firm. Fung's duties will be wide, including the growth of Meta0 as an entire ecosystem of game creators, channel partners, and L1/L2 blockchains operating on Meta0. In addition, he will oversee fund-raising initiatives, alliances, and other strategic choices, according to a report in crypto

 The Meta0 project intends to improve interoperability across current blockchain networks so that developers are not obliged to use only a small number of blockchains to carry out their ideas. Fung claims he left TikTok to address one of the most prevalent issues in the NFT (non-fungible token) gaming industry: the lack of fully accessible blockchain infrastructure for developers.

In other news, Binance has removed trading fees on a wide range of Bitcoin spot trading pairs as the leading blockchain ecosystem celebrates its fifth anniversary.

"From July 8, users will be able to enjoy fee-free trading on thirteen stablecoin and fiat combinations including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, and more. The new trading fees will be in effect until further notice, allowing Binance users globally to enjoy the fee-free feeling beyond the two weeks of anniversary celebrations," it said in a press release.

Meanwhile, Genesis Global Trading has suffered losses in the hundreds of millions of dollars as a result of its exposure to Three Arrows Capital. In June, the hedge fund failed to meet a hefty margin call, requiring the collateral to be liquidated. Genesis has continued to isolate risk in collaboration with its parent business, Digital Currency Group (DCG), according to a report in

Cryptocurrency Prices

The global crypto market capitalisation went up by 2.49 per cent to $917.82 billion as of 9:30 am. The global crypto volume was down by 12.10 per cent to $57.28 billion, according to Coinmarketcap data.

 "Bitcoin continues to trade above $20,000 for the third consecutive day. The market leader has plunged psychological barriers for the last few weeks, with no signs of uptrend. Ether and few other altcoins are trading in the green, however a rally is not expected at the moment," says Gaurav Dahake, CEO and founder, Bitbns, a cryptocurrency exchange.

Bitcoin was trading at $20,445.21 up by 2.81 per cent in the last 24 hours. Ethereum (ETH) was up by 4.57 per cent to $1,173.75.
Among other significant coins, Cardano (ADA) was up by 2.36 per cent at $0.4636, Algorand (ALGO) was trading with a profit of 1.82 per cent at $0.312, Solana (SOL) was trading with a profit of 5.10 per cent at $37.09, Polkadot (DOT) was up by 2.19 per cent at $6.92, and Binance Coin (BNB) was up by 2.82 per cent at $23.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 2.81 per cent at $0.06869. Its volume to market cap ratio stands at 0.057061. Rival Shiba Inu (SHIB) was up by 2.47 per cent at $0.00001053.

Dogelon Mars (ELON) gains 3.68 per cent to trade at $0.0000003215, Floki Inu (FLOKI) gains 1.87 per cent at $0.000006538, and Samoyed Coin (SAMO) rose by 8.67 per cent at $0.009164.

In the DeFi segment, Dai (DAI) was up by 0.04 per cent at $1.00 and Wrapped Bitcoin (WBTC) was trading with a profit of 2.50 per cent at $20,433.53. Avalanche (AVAX) was up by 7.19 per cent at $19.39, Uniswap (UNI) was trading with a profit of 2.60 per cent at $5.34, and Chainlink (LINK) rose by 1.90 per cent at $6.67