Mon 10 Jun 2024 5 min of reading by Luc Jose A.

Amid revolutionary announcements, technological developments, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic struggles. Here is a condensed overview of the most notable news of the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.

Bitcoin whales, those investors holding significant amounts of BTC, have now accumulated more than 40% of the total crypto supply. This trend, observed since mid-March, reveals an increased confidence of these entities in Bitcoins long-term potential, despite market concerns over price fluctuations. However, such concentration could lead to price manipulation and increased volatility, posing significant risks to market stability.

Binance has surpassed the milestone of 200 million users. Since its inception in 2017, Binance has innovated by offering diversified services, from spot trading to futures contracts, and decentralized finance (DeFi). This significant milestone reflects user loyalty and trust and showcases Binances commitment to making cryptos accessible to everyone. Beyond simple exchange, Binance promotes education and innovation in the blockchain sector through initiatives like Binance Academy and Binance Research. This impressive growth highlights the success of Binances vision and its key role in the global adoption of cryptocurrencies.

The European Central Bank (ECB) has decided to lower its key interest rate from 4.50% to 4.25%, a first in five years, despite a recent increase in annual inflation. This decision aims to revive the European economy by facilitating access to credit, although Christine Lagarde, President of the ECB, highlighted geopolitical and economic uncertainties that could affect inflation and energy prices. This rate cut is seen favorably for Bitcoin, providing a haven against fiat currency volatility. Additionally, the ECB will begin gradually selling the 1.85 trillion in debt accumulated during the pandemic starting July, a process that will take two decades.

Robinhood has announced the acquisition of Bitstamp, one of the oldest crypto exchange platforms, for $200 million. This strategic decision aims to expand Robinhoods influence in the crypto sector, despite regulatory pressures from the US SEC. Bitstamp, with its more than 50 licenses and registrations worldwide, represents a significant opportunity for Robinhood to expand its user base and attract institutional clients. This acquisition could strengthen Robinhoods position in the global crypto market, although regulatory challenges persist. Robinhood users will benefit from a more secure and robust platform thanks to the integration of Bitstamp.

Ethereum plans to launch a major update, Pectra, in the first quarter of 2025, promising significant improvements for users and developers. This update includes innovations such as the EVM object format (EOF) and EIP-7702, aiming to enhance smart contract security and efficiency while providing greater transaction flexibility. Pectra will integrate around 19 EIPs to address issues like high transaction fees on layer 2 platforms. The launch schedule has been carefully chosen to avoid rushing before Devcon, ensuring full integration of features and effective deployment monitoring. This update is part of a broader roadmap, with future improvements planned such as the Osaka upgrade and PeerDAS integration to enhance scalability and decentralization.

Heres the essential recap for this week. But if you want a more detailed summary and in-depth analyses directly in your inbox, dont hesitateto subscribe to our weekly newsletter.

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Diplm de Sciences Po Toulouse et titulaire d'une certification consultant blockchain dlivre par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'conomie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet cosystme en constante volution. Mon objectif est de permettre chacun de mieux comprendre la blockchain et de saisir les opportunits qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualit, de dcrypter les tendances du march, de relayer les dernires innovations technologiques et de mettre en perspective les enjeux conomiques et socitaux de cette rvolution en marche.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Bitcoin, Binance, Ethereum, and Ripple: The biggest crypto news of the past week - Cointribune EN

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Whale investors holding Binance Coin and Option2Trade exhibit steadfastness, emphasizing long-term confidence.

Whales holding Binance Coin (BNB) and Option2Trade (O2T) are showing steadiness. These large-scale investors are maintaining their positions, underscoring their confidence in the long-term potential of both tokens. This steadiness amid market fluctuations highlights their strategic patience, anticipating significant future returns.

The $1000 mark represents a coveted milestone for investors in Binance Coin and Option2Trade. Achieving this price point would mean notable returns on investment, a goal that is driving long-term strategies among whales. This ambitious target reflects the high expectations surrounding these tokens and their perceived value in the market.

Option2Trade (O2T) distinguishes itself with its creative A.I. technology and strategic growth plans. These features provide a strong foundation for sustainable long-term growth, positioning Option2Trade as an attractive investment opportunity. Whales are particularly drawn to Option2Trade (O2T)s potential to change trading and investment strategies through its advanced technological solutions.

Comparing BNB and Option2Trade reveals distinct strengths in each token. Binance Coin (BNB), with its established market presence and extensive ecosystem, offers stability and proven growth. On the other hand, Option2Trade combines technological creativity with practical utility, providing a unique value proposition that appeals to forward-thinking investors. This blend of stability in Binance Coin and creativity in Option2Trade attracts significant interest from whales who seek to balance their portfolios with high-potential assets.

Crypto analysts are optimistic about the future of both Binance Coin and Option2Trade. They emphasize the strong fundamentals and strategic initiatives driving these tokens. For Binance Coin, its integration within the Binance ecosystem and continuous developments in DeFi and blockchain technology are key growth drivers. For Option2Trade, its A.I.-driven approach and strategic partnerships are expected to propel it to new heights. Analysts believe that both tokens are well-positioned to achieve significant growth, making the $1000 mark a realistic target in the long term.

The sentiment among whales towards Binance Coin and Option2Trade is overwhelmingly positive. These investors are strategically positioning themselves to maximize potential gains from these tokens. For Binance Coin, confidence stems from its track record and ongoing enhancements within the Binance platform. For Option2Trade, the excitement is driven by its creative capabilities and recent performance. The strategic patience exhibited by these investors indicates a belief in the substantial growth potential of both tokens.

As Binance Coin and Option2Trade continue to develop and expand their market presence, the future looks promising. Binance Coins established ecosystem and continuous innovations provide a stable growth path, while O2Ts technological advancements and strategic initiatives offer exciting growth prospects. Investors eagerly anticipate realizing the $1000 token dream, positioning themselves to capitalize on the substantial returns these tokens promise. The steady accumulation and holding by whales signal a bright future for both Binance Coin and Option2Trade, with significant milestones on the horizon.

For more information on the Option2Trade presale, visit the official website or follow the project on Telegram and X.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Binance and Option2Trade whales stay steady, awaiting $1000 token dream - crypto.news

Binance, the worlds biggest crypto exchange, said in a post on X that it had reached 200 million global users, despite a leadership change, paying a record fine to US regulators, and other more recent issues.

At the end of 2023, the exchange said it had added 40 million users to bring its total to 170 million, which means that it has gained about 30 million in the first half of this year. Your support is the heartbeat of our journey to 1 billion users, the celebratory post said.

In 2023, reaching settlements with U.S. regulators, we took responsibility for our past conduct and opened a new chapter in Binances history. ... The scrutiny has helped create the comprehensive compliance program we have today, the company said in a year-end blog post.

In November, Binance pleaded guilty to anti-money laundering violations, unlicensed money transmitting, and sanctions violations and paid $4.3 billion in fines and restitution. It was one of the largest payments the Justice Department had ever received from a corporation, Attorney General Merrick Garland said at the time.

DL News reported that founder Changpeng Zhao struck a deal with prosecutors. He agreed to step down from his position as CEO, plead guilty to violating the Bank Secrecy Act, and pay a $50 million fine. He is now serving a four-month sentence at a low-security prison in California.

Zhaos successor, CEO Richard Teng, pledged a new era of compliance was dawning for the exchange, but he has had to deal with lingering problems.

In March, officials in the Philippines blocked Binance after the exchange failed to obtain a licence following months of warnings.

Then Nigerias anti-corruption agency charged Binance with money laundering and tax evasion, charging two Binance executives with the same allegations and even imprisoning one.

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Still, the value of funds that Binance holds on behalf of its users exceeded $100 billion in March, according to a company blog post.

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Binance marks 200m global users in spite of leadership change, fines and setbacks - DLNews

The largest cryptocurrency exchange, Binance, has appealed to have a large portion of a 10 billion ($12.8 billion) lawsuit against them thrown out. It is claimed that Binance and multiple other exchanges colluded to have the Bitcoin Satoshi Vision (BSV) token delisted across the market.

The BSV Holders case is being overseen at Londons Competition Appeal Tribunal (CAT). It was brought forward by a group of over 200,000 holders of the BSV token. Kraken is the other high-profile exchange being sued in the case.

Claims made by lawyers representing the BSV holders state that the exchanges engaged in anti-competitive behaviour in order to delist BSV in 2019. The argument is that this behaviour stopped BSV from becoming a top tier cryptocurrency as the collusion from the exchanges resulted in the price of BSV crashing. The prosecutor values this aspect of the claim at up to 9 billion.

EXPLORE: Are We Still Early in Crypto? Taking Stock of Crypto Adoption as Binance Hits 200M Users

Binance is seeking for the CAT to dismiss the part of the case that claims it prevented BSV from becoming a major cryptocurrency. This claim is being made by the lawyers representing BSV holders who continued to hold the token even after it had been delisted.

Brian Kennelly, Binances lawyer, has refuted these claims. He stated that people who continued to hold BSV had made an entirely voluntary decision. He went on to add that they could reasonably have sold it and reinvested it in comparable cryptocurrency.

In response to Binance attempting to have this part of the case dismissed, lawyers for BSV argued in court documents that the issue should proceed to trial with the rest of the case.

This case stems back to 2019, when Binance, along with Kraken and other exchanges all delisted BSV from their platforms. It was delisted due to Australian computer scientist, Craig Wright having close ties with the BSV project. Around this time, Craig Wright was making claims that he was the pseudonymous Satoshi Nakamoto, the creator of Bitcoin.

A UK judge ruled in May 2024 that Craig Wright lied extensively and forged documents during the high-profile trial. The judge went on to slam Wrights narrative as riddled with inconsistencies and absurd explanations. He also added that Wright was not nearly as clever as he thinks he is. Craig Wright has announced his decision to appeal the decision.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Crypto Firm Binance Fighting To Dismiss $11.5 Billion Claim By BSV Token Investors - - 99Bitcoins

What could be improved Regulatory concerns

In June 2023, the SEC brought charges against Binance, Binance.US, its founder Changpeng Zhao, and other related crypto entities. "Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law," said SEC Chair Gary Gensler. The accusations, which echo those brought by the CFTC earlier in the year, include:

In a blog post, Binance says it plans to defend itself against the accusations. "Any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staffs action in light of the ample time the Staff has had to conduct their investigation."

Binance.US is not alone in not accepting credit card payments. In fact, it isn't always a good idea to try to buy crypto using a credit card. You may face extra charges from your card issuer, plus you're essentially taking on debt to make a high-risk investment. Nonetheless, this is a slight negative.

Binance.US is not available in Hawaii, New York, Texas, or Vermont. Cryptocurrency traders in these states will need to look for another exchange. Check out our list of top cryptocurrency apps and exchanges for more options.

Binance.US does not have a telephone customer support line. It has a 24/7 live chat function that can give basic assistance and allow users to connect to live agents for more complex inquiries. But users with more specific queries need to fill out a form and wait for an email response. This is an issue for several cryptocurrency exchanges, as customers want more hands-on assistance, especially if theyre trying to report fraud or suspicious activity.

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Binance.US Review: Pros, Cons, and More - The Motley Fool