Tuesday, November 12, 2024
Rohit Wad, chief technology officer at Binance | Fiat Reporter

Binance CTO: 'Binance is the best exchange in the world for slippage and order book depth'

Rohit Wad, Binance's Chief Technology Officer, said that the company's extensive order book minimizes slippage, making it the "best in the world" exchange for "order book depth." Wad made this statement during Binance Blockchain Week.

"Our order book is the deepest in the industry. It means that when you trade, you have very low slippage," said Wad. "Binance is the best exchange in the world for slippage and order book depth."

According to a report by Financial News London, major hedge funds significantly increased their cryptocurrency holdings in the first quarter of 2024. Millennium Management invested approximately $2 billion in spot Bitcoin Exchange-Traded Funds (ETFs), while Schonfeld allocated around $500 million.

The same report indicates that over 50% of top U.S. hedge funds now own Bitcoin ETFs, suggesting a growing institutional confidence in crypto assets.

A report by Reuters highlights that as of October 1, 2024, the total cryptocurrency market capitalization reached $2.2 trillion, marking a substantial increase from $8.3 billion at the start of 2023.

Wad leads the development of scalable, secure, and compliant Web3 solutions at Binance. With over 30 years in engineering, he ensures Binance's stability and regulatory compliance across regions. Before joining Binance, Wad was a Corporate Vice President at Microsoft and held engineering leadership roles at Facebook and Google. He contributed significantly to projects like Microsoft Teams and Skype.

Binance operates as a major global blockchain platform and features the largest digital asset exchange by trading volume. The company offers a wide range of financial products and services and is known for its comprehensive ecosystem, which includes educational resources, research initiatives, charitable activities, and an NFT marketplace. Binance supports users around the clock in 40 languages and prioritizes security and regulatory compliance to protect its users and contribute to the growth of the blockchain industry.