Binance Pool Launches Bitcoin Cash (BCH) Mining Service

Binance Pool Launches Bitcoin Cash Mining Service

Binance Pool, Binance’s service platform dedicated to improving miners’ income, has announced the launch of its Bitcoin Cash (BCH) mining service. Here are the key points:

– The new offering utilizes the FPPS settlement method.
– Mining rewards will be automatically credited to users’ Funding Wallets by 10:00 (UTC) daily.
– Account verification is required for users to participate in the BCH mining service.

In addition, Binance Pool launched a $500 million lending project last year to support the struggling Bitcoin mining industry. They have been working with various cloud mining products to provide capital support for crypto miners during the crypto winter. The company also released multiple batches of Cloud Mining products for BTC mining.

However, Binance has been facing regulatory issues in the US. The CFTC filed a lawsuit against the exchange and its CEO, Changpeng ‘CZ’ Zhao, in March. The SEC also recently charged Binance with securities law violation and accused it of manipulating trading volume with the help of a company led by CZ called ‘Sigma Chain.’ As a result, Binance’s spot market share has decreased from 64% to 50% in just seven months.

Hot Take:

Despite facing regulatory challenges, Binance continues to expand its services and offerings. The launch of the Bitcoin Cash mining service on Binance Pool demonstrates their commitment to supporting miners and providing them with additional income opportunities. It will be interesting to see how Binance navigates the regulatory landscape while maintaining its position in the crypto industry.