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Binance Unrattled With SEC Lawsuit, Introduces Bitcoin Ordinals Support Within 24 Hrs

source-logo  coingape.com 06 June 2023 14:31, UTC

Crypto News: Binance, the world’s leading cryptocurrency exchange, made headlines once again today as it announced its support for Bitcoin Ordinals in its dedicated NFT marketplace. This move comes on the heels of the recent lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance, alleging multiple violations of the country’s securities laws. Despite the legal challenges, the crypto giant seems committed to expanding its offerings and exploring new frontiers in the rapidly evolving world of NFTs.

Binance embraces Bitcoin NFTs

The integration of Bitcoin NFTs into Binance’s marketplace is expected to bring a surge of excitement to the already-thriving NFT space. Users will now be able to execute Bitcoin NFT transactions directly from their Binance accounts, streamlining the process and offering greater convenience. This development could mark a significant milestone in the world of NFTs, as the integration of Bitcoin NFTs allows users to utilize their Binance accounts for a wider range of transactions, beyond traditional cryptocurrencies.

Read More: US SEC Sues Coinbase Exchange Following Binance Lawsuit

Ordinals, introduced in Janurary of this year, have lately become the talk of the town. The Ordinals protocol has given Bitcoin an additional layer of utility where users can now use the token for more than just a store of value. The current lineup of supported Bitcoin NFTs on Binance’s marketplace is extensive, featuring popular NFT collections such as Bitcoin Bandits, Bitcoin Frogs, Bitcoin Fizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, BTC Machine, and many others.

In the wake of this crypto news, the price of BNB — Binance’s native cryptocurrency — remained relatively stable, failing to experience a notable increase. This can be attributed to the ongoing selling pressure caused by the recent SEC lawsuit, which accuses Binance of intentionally evading US regulations and jeopardizing customer funds.

Also Read: Binance Moves Millions Of Ethereum (ETH) For Staking As BETH Depegs