This Article is From Jul 19, 2022

Binance To Hire Indian Engineers And Breed Web 3.0 Startups

The crypto-company is focusing on blockchain startups and is actively monitoring India’s Web 3.0 and blockchain markets.

Binance To Hire Indian Engineers And Breed Web 3.0 Startups

Crypto Update For The Week: Binance to Hire Indian engineers, UK, US frame rules

Binance, the largest cryptocurrency exchange in the world, is looking to hire Indians and incubate Indian Web 3.0 startups. 

The company is looking to onboard startups in the fifth round of its incubation program. The crypto-company focuses on blockchain startups and actively monitors India's Web 3.0 and blockchain markets. 

One of the projects Binance had previously supported was eco-friendly blockchain Polygon, developed by co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

"We focus on fundamentals and long-term to select projects that will directly impact the blockchain industry. Web3 startups in India have great potential to grow," said Ken Li, the investment director at Binance Labs, in an interview.

A round up of crypto updated for the week:

New Crypto Regulations From The UK And US

The Financial Conduct Authority (FCA), the UK's financial regulator, has stated that it will be working towards bringing tougher crypto regulations while working in partnership with the Securities Exchange Commission (SEC) in the US. 

With many bleeding-edge innovations in the crypto and De-Fi space still having no legal clarity, the collaboration between the two regulators is expected to clear the confusion that permeates the space and thus, reduce risks for investors. 

"The US and UK will deepen ties on crypto asset regulation and market developments — including about stablecoins and the exploration of central bank digital currencies," said Nikhil Rathi, Chief executive of FCA, reported

The statements from Rathi come two weeks after participants from the two countries met at the U.S.-UK Financial Innovation Partnership (FIP) in London for the third Regulatory Pillar meeting. The participants gathered there discussed matters related to crypto and digital asset ecosystems. 

Crypto Prices 

Bitcoin prices have started to move upwards once more. The price of the largest cryptocurrency has recovered by 10.05 per cent over the last day of trading to hit $22,249.60 (at the time of writing). 

The token's price is up by 17.42 per cent after it had dipped to below $19,000 at the start of July. 

Ethereum, the second largest token in the world, was also up by 5.92 per cent over the past close. Ethereum is now sitting at $1,453.32 (at the time of writing), compared to the start of the month when it had fallen below the support point of $900.