Binance Dives into Bitcoin NFTs: Marketplace Grows Despite SEC Complaint

Binance has introduced Bitcoin NFTs to its marketplace. Significantly, this comes just one day after the U.S. Securities and Exchange Commission (SEC) lodged a complaint against them. Let’s dive in!

TL;DR

• Binance swiftly integrates bitcoin NFTs into its marketplace, despite the recent SEC complaint.

Binance Defies SEC Complaint: Introducing Bitcoin NFTs to Its Marketplace

Just 24 hours after the SEC filed a complaint against them, Binance has swiftly incorporated bitcoin NFTs into its marketplace. So, users can now explore and engage with a diverse range of Bitcoin NFT collections through Binance. These include BTC DeGods, Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, Bitcoin Punks, and others.

Markedly, the sudden rise in popularity of Bitcoin NFTs has captured the attention of the community. The introduction of the ordinals protocol has enabled the creation of these digital collectibles, fueling the current fascination surrounding them.

Software engineer Casey Rodarmor introduced the Ordinals protocol on the Bitcoin blockchain. Using the protocol, developers can associate data, called Ordinals, with each unit of Bitcoin. Then, this data can include smart contracts, allowing for the creation of NFTs. Essentially, the Ordinals protocol empowers developers to generate NFTs on the Bitcoin blockchain.

Ultimately, Binance is demonstrating its resilience by introducing bitcoin NFTs on its marketplace. Notably, signaling that it was undeterred by the SEC complaint. Binance CEO Chanpgeng Zhao is also implicated in the case, facing accusations of mingling funds within the cryptocurrency exchange. Furthermore, Binance has countered the charges. Markedly, it has responded by denying the charges and criticizing securities authorities for not providing clear and fair regulations for the new digital asset sector.

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