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Binance wants crypto projects to migrate to its chain from Ethereum, and the firm’s massive trading business could help

by Frank Chaparro

April 17, 2019, 12:43PM EDT  ·  3 min read

Quick Take

  • In a short amount of time, Binance has become the largest crypto exchange
  • Now it is looking to leverage its influence to get developers to switch from Ethereum to its own native blockchain 

by Frank Chaparro

April 17, 2019, 12:43PM EDT  ·  3 min read

Binance’s quick rise has left other exchanges eating its dust, and now it is setting its sights on replacing one of the largest cryptocurrency networks. 

Sources familiar with the situation tell The Block the Malta-based firm, led by the notorious Changpeng “CZ” Zhao, is trying to lure projects building on Ethereum to switch over to Binance’s native blockchain, Binance Chain.