CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English
Country • Select Country
    Entity • The products and services listed on this website are not available to US residents.
    English العَرَبِيَّة Deutsch ελληνικά Español Français Italiano Magyar Nederlands Polski Română Русский 简体中文 繁體中文

    Boris Johnson’s brother quits as special adviser to Binance

    By Darius McQuaid

    16:28, 21 December 2022

    Conservative MP Jo Johnson, former minister and brother of Boris Johnson, is seen at the Houses of Parliament in London on 20 June, 2019
    Johnson joined the company in September and sat on Bifinity’s UK advisory board - Photo: Getty Images

    Jo Johnson, the brother of former British Prime Minister (PM) Boris Johnson, has stepped down from his advisory role at Bifinity, a payments technology company that Binance launched in March 2022.

    The former Conservative MP for Orpington, now Lord Johnson of Marylebone, joined the company in September and sat on Bifinity’s UK advisory board, The Daily Telegraph reported.   

    Commenting on the move, Binance, the world’s largest cryptocurrency exchange by trading volume, said: “Lord Johnson has recently taken on the role of executive chairman of FutureLearn. He will be focusing on his new role within the digital learning platform and is looking to scale back other activities.”

    FutureLearn is a British digital education platform founded in December 2012.

    Capital.com requested a comment from Johnson but did not immediately receive a reply.

    BTC to USD 

    Not the only lord to step down

    Lord Edward Vaizey of Didcot, former minister for culture and Conservative MP for Wantage, has also now resigned from his post at Bifinity. He joined in September as well.

    What is your sentiment on BTC/USD?

    69767.70
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    XRP/USD

    0.54 Price
    +4.120% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    DOGE/USD

    0.16 Price
    +5.010% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.0012872

    BTC/USD

    69,767.70 Price
    +5.640% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 106.00

    BCH/USD

    505.40 Price
    +3.640% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 2.50

    Bifinity

    Bifinity offers application programming interface (API) integration for both mainstream and crypto merchants, and supports more than 50 cryptocurrencies, as well as major payment methods such as Visa and Mastercard.

    It claims to connect “millions of users to the world of crypto and blockchain”.

    Binance says merchants can use Bifinity’s APIs to get their business “crypto-ready and start accepting crypto payments”.

    At the timer of its launch, Helen Hai, president of Bifinity said: “As the crypto and the Web 3.0 economy continue to grow, we see greater demand to build improved fiat-to-crypto on-ramps to bridge the gap between the traditional finance industry and the decentralised and centralised crypto economy.

    “At Binance, the vision is to increase the freedom of money globally. With the launch of Bifinity, we aim to accelerate mass crypto adoption.”

    Related topics

    #Cryptocurrency

    Rate this article

    Related reading

    Boris Johnson blockchain conference keynote: When will former PM make his Singapore symposium speech?

    Boris Johnson delivers his farewell address as PM outside 10 Downing Street

    UK crypto: ‘Tension exists between parliament and regulation’, says SNP’s Dr Lisa Cameron

    Representation of the digital crypto Ethereum and bitcoin
    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
    Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

    Still looking for a broker you can trust?

    Join the 610,000+ traders worldwide that chose to trade with Capital.com

    1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading

    Start trading on BTC/USD.

    69661.70
    69767.70