Coinbase, one of the biggest cryptocurrency exchange platforms is back on Google ads. The news comes in the limelight after the CEO of Coinbase, Brian Armstrong, announced that the exchange platform was whitelisted for Facebook ads earlier this week.
Google, the biggest search engine platform in the world, had published a new financial services policy which stated that the advertising of cryptocurrency is banned on the platform. This included Initial Coin Offering [ICO], cryptocurrency exchanges, cryptocurrency wallets and trading advice. The new policy has been in effect since June 2018.
“Our policies are designed to give users information to weigh the costs associated with financial products and services and to protect users from harmful or deceitful practices. For the purposes of this policy, we consider financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.”
In order to be approved by Google for advertising, the company has to be licensed by the financial authority of their respective country. The ads and the landing page should comply with all the AdWord policies and necessary legal requirements.
The Director of Sustainable ads of Google, Scott Spencer had earlier stated that they have seen enough consumer harm or potential consumer harm with cryptocurrencies and since they do not know the future of cryptocurrencies, it is an area they want to approach with extreme caution.
When Coinbase was whitelisted on Facebook, the Co-Founder and the CEO, Brian Armstrong had announced that they are back to introducing more people to the financial system. The approval to advertise on Google would mean that the biggest exchange platform has access to billions of people and the exposure of Bitcoin and cryptocurrency would be double.
Steven81, a Redditor says:
“After Facebook, Google does too. Bull is prepped :p Seriously though, even google search trends (for bitcoin) seems to have bottomed, finally, after months and months of falling. Manipulation or not, the way this bear started (ads ban, Korea ban) may also be the one to end it (restart of ads, Korea is back)”
SoberJohnDaly, another Redditor says:
“Crypto advertising was put on the back burner by most websites. This is them now allowing coinbase to advertise again. I really doubt coinbase would ever pull the plug on advertising on the largest search engine in the world.”
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Binance Coin [BNB] rises as Binance unveils new look for its margin trading service
Binance, one of the largest cryptocurrency exchanges in the world, continued to make progress in the market despite falling victim to a security breach a few days ago. Changpeng Zhao, the co-founder and CEO of Binance, revealed that the exchange’s order volumes were much higher than the volume during Bitcoin’s peak at the end of 2017 and beginning of 2018.
With all the positive news surrounding the platform, the exchange unveiled a new interface, with margin trading being the highlight. The exchange announced on Twitter,
— Binance (@binance) May 24, 2019
To this, ICO Drops stated on Twitter,
— ICO Drops (@ICODrops) May 24, 2019
Rumors of Binance providing margin trading service had been circulating in the space months prior to any official confirmation. Earlier this month, a Redditor, Lifofifo pointed out that the exchange platform had enabled margin trading flag on its API for top cryptocurrencies.
Post this, CZ confirmed that the exchange would be rolling out margin trading service and that they were working on a marketing system that would be launched “very very soon”. Based on a previous report, the exchange would roll out this service for Bitcoin, Binance Coin, Ethereum, Tron, and XRP, paired with Bitcoin and Tether.
Margin Trading enables users to trade cryptocurrency with borrowed money/ leverage. The notice on Binance’s interface stated,
“Margin trading confers a higher profit potential than traditional trading, but also greater risks. Please be aware that in the event of extreme market volatility, there is even a risk that your assets may be liquidated.”
Meanwhile, the platform’s token, Binance Coin [BNB] surpassed its all-time high record again. According to CoinMarketCap, at press time, Binance Coin was trading at $33.46, with a market cap of $4.724 billion. The trading volume of the cryptocurrency was reported to be around $582 million and the coin witnessed a significant rise of 34.65 percent over the past seven days.
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