The American entity of leading cryptocurrency exchange Binance has updated its terms to reflect the U.S. dollar funds in their wallets on the exchange are no longer protected by deposit insurance from the Federal Deposit Insurance Corporation (FDIC). The exchange also halted U.S. dollar withdrawals.
Reddit has revealed that it’s phasing out its blockchain-based Community Points, which are different blockchain-based tokens distributed to users of its r/CryptoCurrency, r/Ethtrader, and r/FortniteBR communities.
The collapsed cryptocurrency exchange FTX has proposed a revised plan to reimburse creditors up to 90% of their holdings that were retained on the platform prior to its financial downfall last November.
Top stories in the Crypto Roundup today:
- Binance.US Drops FDIC Protection, Halts Dollar Withdrawals
- Reddit to Shut Down Blockchain-Based Community Points Feature
- FTX Offers Up to 90% Reimbursement to Creditors in Revised Plan
- Grayscale’s GBTC Discount Narrows to Lowest Level Since December 2021