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BackBinance is shutting down one of its biggest operations: 4 main services will no longer exist
Binance is shutting down one of its biggest operations: 4 main services will no longer exist
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Uzman Coin56 minutes agoCrypto1 min readView original

Binance is shutting down one of its biggest operations: 4 main services will no longer exist

The exchange has decided to shut down all its related services, including mining pool and cloud mining, as of November 10.

Quick Look

  • Binance announced that it will discontinue its Bitcoin mining pool, cloud mining and transaction accelerator services as of November 10.
  • The exchange is shifting its strategic focus to stock options and AI-powered tools.

AI-generated summary

Why It Matters

Binance is shifting its operational focus to traditional financial products and artificial intelligence technologies.

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Binance has decided to completely shut down its Bitcoin mining-related services. Stock Exchange as of November 10 at 10 CEST; It will completely terminate the mining pool, pool yield, cloud mining and transaction accelerator services. Telegram hashrate and email notifications will also end.

In the statement made by the stock exchange, it was stated that miners should direct their devices to other pools. In addition, it was requested that the cryptocurrencies in the yield pool be withdrawn and the memberships therein be terminated. Users will also be able to view historical mining data, account records and payment status until November 24. Afterwards, this page will also be closed.

Goals have changed

In its recent statements, the stock exchange stated that it was turning to new areas, especially stocks and derivative products. The exchange, which will also offer options on US stocks and ETFs, will allow options on more than a thousand stocks traded on the US exchange. Trades will be offered through Nest Trading, a brokerage firm regulated by the Abu Dhabi Global Market.

The stock exchange, which does not remain silent about artificial intelligence, has also developed an AI-supported interface. This interface aims to enable users to benefit from artificial intelligence in trading transactions. The interface was put into service as of yesterday.

What to Watch

AI outlook — possibilities, not facts

  • Users will have to migrate their mining data until November 10.

    Very likely · Within days

Open Questions

  • What will be the impact of shutting down mining services on the user base?

Related Topics

This article was originally published by Uzman Coin.

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