cryptocurrencies

Crypto Exchange Binance Denies It Will Introduce Dollar Trading

How Much Is Bitcoin Really Worth?

Binance, the world’s biggest cryptocurrency exchange by traded value, denied reports that it will allow users to buy digital tokens with dollars.

The reports are “fake news,” a spokeswoman said by email.

Articles claiming that Binance would introduce dollar transactions circulated on Twitter and several cryptocurrency websites on Friday, pushing up prices for so-called alt-coins including EOS and Monero. Binance currently only handles trades between cryptocurrencies, meaning clients can swap one token for another but not for a traditional currency like the dollar or the euro.

EOS and Monero both rose more than 8 percent over the past 24 hours even as the gain in Bitcoin, the original cryptocurrency, was more subdued at around 2 percent, according to Coinmarketcap.com.

Founded by Zhao Changpeng less than a year ago, Binance consistently ranks No. 1 on Coinmarketcap.com’s list of exchanges. It handled $2.2 billion of trading in the past 24 hours, according to the data aggregation site.

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