Just recently, Binance announced the launch of its mining pool following exchanges like Okex, and Huobi. Alongside this, a great number of crypto exchanges are staking proof-of-stake (PoS) coins, which have caused some grievances among the crypto community.

Binance Reveals the Firm Plans to Launch a Mining Pool in Q2 2020

Since the 2017 cryptocurrency bull run, a number of crypto trading platforms have grown massive over the years. For instance, a variety of digital currency exchanges like Kraken and Coinbase have been acquiring a slew of startups and projects in order to scale themselves further. Last summer, news.Bitcoin.com reported on how the San Francisco-based digital currency exchange, Coinbase acquired Xapo and has been quietly becoming the world's biggest bitcoin bank by reserves held. Now in order to increase revenue, a bunch of exchanges started to stake PoS coins and mine SHA256 assets like BCH, BTC, and BSV. Now Binance, one of the top crypto exchanges worldwide by trade volume, has announced the company is starting a mining pool.