Binance confirms margin trading is coming very soon: 'The code is done'

08 May, 2019
by Jelmer van der Dussen
Exchange
Binance confirms margin trading is coming very soon: 'The code is done'

Shortly after the $40 million hack on Binance, CEO Changpeng Zhao discussed the incident in an AMA on Twitter. In the chat with the community, CZ also announced that margin trading will be coming to the exchange soon.

The margin trading tests were already spotted by a user last week, and CZ confirmed on Wednesday that Binance will indeed introduce margin trading. "Yes, we are working on a margin system that we will be rolling out very soon. First to a few of our key clients, large traders, so that they can help us test. They have an agreement that they will work closely with us if there is a bug."

Margin trading will probably be introduced pretty soon after Binance finished investigating its systems following the hack over the next week. "The code is done, we are now testing."

Binance stablecoin
CZ also addressed the rumors that Binance is working on its own stablecoin. "There are internal discussions about stablecons, whether we want to offer our own stablecoin. There are a few different proposals and plans and likely something may happen there. But plans change quickly, and we can't set anything in stone."

Next Launchpad project
Binance will also announce the next project that will be launched on Launchpad, Binance's IEO platform, soon. BitTorrent, Fetch.AI, Celer Network and Matic Network were the first four projects to have their token sale on the Binance platform. "We are working to arrange the next Launchpad project. We have a few candidates already and we are finalizing the final candidate for the next Launchpad. We will try to shorten the BNB period this time. The lottery system worked quite well last time, there were fewer complaints on social media so that seems to work."

CZ added to that that all the developments are delayed with a week because of the hack, in which attackers took 7000BTC from the exchange. "We want to focus this next week on working on the issue and bringing Binance fully live as soon as possible."

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