Category Archives: Binance
Binance CEO on 7th Anniversary: Weve Only Just Begun – DailyCoin
The past few years for Binance, the largest crypto exchange by trading volume, have been one for the books. They have been marked by intense regulatory drama across various jurisdictions, which has resulted in hefty sanctions and penalties for the exchange, such as the ousting of its founder from his executive position, operational license suspensions, and the exchanges exit from several key markets.
Despite the challenges, Binance has continued to grow, and it is now celebrating a major milestone that highlights its resilience over the years.
Celebrating the exchanges seventh-year anniversary, Binance CEO Richard Teng reflected on the exchanges accomplishments since its inception.
At the heart of his reflection is an appreciation for the exchanges journey since its launch in 2017, evolving from ground zero to its current status as one of the industrys foremost exchanges. Teng highlighted several of Binances notable achievements, including its accumulation of a 200 million global user base and exceeding $100 billion in fund holdings.
While the exchange is renowned for its major regulatory troubles across various regions, the CEO asserted that Binance has made substantial progress in its regulatory foothold. He emphasized that the exchange has placed an even greater focus on compliance, even collaborating with global authorities to combat illicit activity across the industry.
Binance has also recorded a significant 36% increase in institutional registrations this year, alongside increased utilization of its educational platform, Binance Academy.
The celebrations were not Tengs only focus, as the CEO charted an optimistic outlook for the exchanges future.
Looking to the future, Binances recently appointed CEO has outlined the exchanges key focus areas. Teng emphasized that the exchange is gearing up for the next phase of the industry and aims to remain at the forefront to accommodate evolving trends.
The industry is expected to attract more large-scale investors and capital, driven by the growing institutionalization of digital assets and greater regulatory clarity. To accommodate the expanding ecosystem and participants, Binance will prioritize enhancing user experience, providing accessible crypto knowledge, and improving customer support.
CEO Teng further asserted that the exchange will maintain its leadership position in the coming years. With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun, he remarked.
Despite its many troubles, Binance has undoubtedly cemented its place as an industry leader. However, the exchange still faces several regulatory woes, and its ability to successfully navigate these challenges and maintain positive momentum will determine its ability to retain its position.
Read more about the Binance executive detained in Nigeria Binance Gambaryans Health At Risk as Test Results Denied
Find out more about BitMEXs counter of the DOJs regulatory violation claims: Old News: BitMEX Dismisses Guilty Plea to AML Violations
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Binance CEO on 7th Anniversary: Weve Only Just Begun - DailyCoin
Binance Will Suspend Buy/Sell Orders for this Altcoin, Capital Moving to Hidden Ethereum Token – Crypto Reporter
In a strategic move to facilitate a seamless transition, Binance, one of the worlds largest cryptocurrency exchanges, has suspended existing spot trading pairs for Render (RNDR).
Binance has pledged to support Renders rebranding efforts, which will see RNDR tokens transition to Render (RENDER).
As Render prepares to unveil its new identity, investors can invest in the new Ethereum token, RCO Finance (RCOF), offering an ROI of up to 30x in the presale stage.
Render (RNDR), the innovative token powering decentralized rendering solutions, is undergoing a significant transformation.
Binance has pledged to support this rebrand and ensuing token swap and has suspended all existing RNDR spot trading pairs. This move is designed to streamline the transition process for investors and ensure a smooth migration to the new Render (RENDER) tokens.
Render has become a pivotal player in decentralized rendering, offering scalable solutions powered by blockchain technology.
The rebranding to Render (RENDER) signifies a strategic evolution to better align its brand identity with its core offerings and market positioning.
Amidst the market buzz surrounding Renders rebranding, RCO Finance (RCOF) is emerging as a promising opportunity for early investors with the ongoing token presale.
With presale prices starting at $0.01275 and expected listing prices ranging between $0.4 to $0.6, early investors can realize up to 3000% in price gains.
The presale stages of RCO Finance highlight its commitment to fair distribution and community engagement.
Investors participating in the presale secure tokens at advantageous rates and gain access to exclusive bonuses, including up to 40% bonus tokens during the Bonus Round phase.
The RCOF tokenomics, featuring a deflationary model, reinforces its value proposition and long-term viability.
In addition to growing your crypto portfolio, owning RCOF tokens unlocks many benefits, including discounted transaction fees, governance voting rights, and participation in dividend distributions.
As RCO Finance aims to disrupt traditional finance with its decentralized trading platform, early adopters can leverage its innovative features and capitalize on the burgeoning DeFi landscape.
RCO Finance is spearheading innovation in decentralized trading with its robust platform powered by AI and machine learning.
Using cryptocurrencies, the platform allows users to invest in various assets, including stocks, real estate, and commodities. This seamless integration of traditional and digital finance bridges gaps in accessibility and offers unprecedented investment flexibility.
Central to RCO Finances appeal is its AI-powered Robo Advisor, which provides personalized investment strategies tailored to individual preferences and market conditions.
This Robo Advisor leverages advanced algorithms to analyze financial goals, risk tolerance, and market trends, enabling users to make informed investment decisions confidently.
By automating portfolio management and eliminating emotional bias, RCO Finance enhances user experience and maximizes investment potential.
Moreover, RCO Finance prioritizes security and transparency through its audited smart contracts and decentralized infrastructure. The platforms non-KYC approach preserves user privacy while adhering to regulatory standards, ensuring a compliant yet user-centric trading environment.
With features like automated market making, crypto lending, and pre-derivatives trading, RCO Finance empowers users to optimize their investment strategies and participate actively in the evolving DeFi ecosystem.
Investors looking to capitalize on the future of finance should consider investing in RCO Finance for its cutting-edge technology, robust security measures, and comprehensive investment solutions.
For more information about the RCO Finance Presale:
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Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.
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Clandeno (CLD) Presale & Ethereum (ETH) Both Surge Amid Binance Coin (BNB) Uncertainty – The Cryptonomist
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TL;DR
Clandeno (CLD) was one of the revelations this summer. The decentralized e-commerce platform has amassed $2 million after launching its presale earlier this month, indicating the major traction it has gained with its exciting Web3 take on e-commerce. Clandeno (CLD) is ushering a new era in the trillion-dollar online shopping industry with the launch of its decentralized online marketplace. The project is being widely expected by analysts to be among the biggest gainers of 2024 thanks to its features and innovations. Analyst price predictions peg Clandeno (CLD) to turn in outsized ROIs this summer, outperforming Ethereum (ETH) and Binance Coin (BNB) end-of-year price predictions.
Ethereum (ETH) had been struggling mightily to start off July, falling all the way to $2,700 in the wake of the Bitcoin (BTC) crash. However, the recent Ethereum (ETH) approval and the recent recovery of Bitcoin (BTC) to $60K catalyzed a pump that pushed Ethereum (ETH) prices to $3,200 as of press time. However, Binance Coin (BNB) failed to show the same robust growth over the past week, recording a modest 5% gain compared to Ethereum (ETH) and Bitcoin (BTC). One of the major concerns for investors is Binance Coin (BNB) issuer Binances legal woes, which have contributed to an overall bearish trajectory of Binance Coin (BNB). Currently, Binance Coin (BNB) trades at $538.
Clandeno (CLD) is introducing blockchain technology and combining it with Web3 to create an online marketplace with exciting DeFi and decentralized e-commerce features. Clandeno (CLD) will connect merchants and sellers under one roof and provide the most viable decentralized alternatives to eBay and Amazon. With the trillion-dollar e-commerce industry only set to grow exponentially in the coming years, Clandeno (CLD) Token prices are as low as they ever will be. Dont sit this presale out!
Forget Binance Coin (BNB) and Ethereum (ETH) if you wish to make serious and tangible gains worth your investment. To get the most out of your capital, the best opportunity on the board is THE most awaited ICO of July: Clandeno (CLD).
To find out more about the Clandeno presale, visit their website here
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U.S. Rep Proposes Bill to Free Binance Exec Held in Nigeria – Crypto Times
U.S. Representative Rich McCormick has put forward a bill to secure the release of Tigran Gambaryan, a Binance executive who has been held in Nigerian custody for several months.
The bill, titled Urging the Government of Nigeria to immediately release Binance employee Tigran Gambaryan from imprisonment, has been referred to the House Committee on Foreign Affairs.
Gambaryans detention is connected with Nigerian authorities accusations against Binance and its executives for being involved in money laundering following earlier claims that the crypto exchange was affecting local currency growth. However, this case has attracted attention from the crypto space as well as U.S. lawmakers
Recently U.S. Congress members, French Hill and Chrissy Houlahan visited Nigeria on a national security mission where they had a meeting with Gambaryan. They reported disturbing details about his condition including having malaria and double pneumonia among other things. They further noted that he had lost lots of weight, and he was not receiving enough adequate medical assistance. However, Nigerian prison officials have disputed these claims about Gambaryans health status.
The situation has raised human rights concerns, with advocates calling for Gambaryans release and return to his family. Rep. McCormick, who represents Gambaryans home state of Georgia, is leading this legislative effort to address the ongoing detention.
Earlier this year, Nigerian authorities detained Gambaryan and his colleague, Nadeem Arjarwalla, from the office of the National Security Adviser. The visit aimed to discuss regulatory matters. While Arjarwalla reportedly escaped custody, Gambaryan remains detained. Although tax evasion charges have been dropped, the Economic and Financial Crimes Commission (EFCC) continues to pursue money laundering charges.
Binance has maintained that Gambaryan is not a decision-maker in the company and has continued to advocate for his release.
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U.S. Rep Proposes Bill to Free Binance Exec Held in Nigeria - Crypto Times
Empire Newsletter: What the SEC dropping its Paxos probe really means – Blockworks
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The coolest thing about torrenting site ThePirateBay is that it really does operate like a pirate ship. When one jurisdiction forces it offline, it pops back up under a different domain.
At least in one point in time, ThePirateBay itself didnt own any actual servers. Its operators instead chose to spread the sites functionality across 21 virtual machines hosted around the world by various commercial cloud providers.
If one of the hosts pulled out, those virtual machines could be easily deployed to a different provider. More importantly, though, it meant there were no physical servers for police to seize.
And besides, the virtual server structure meant the actual cloud hosts keeping ThePirateBay online were unaware they were even hosting the torrenting portal further insulating it against police.
Binance has operated under similar mystique. For the longest time, the company had claimed to have no headquarters, something new CEO Richard Teng walked back after taking over from founder and CEO Changpeng Zhao, whos currently serving a four-month prison sentence in California.
Like ThePirateBay, Binance bounced between jurisdictions for years, from China to Japan and Malta, before all three eventually pushed the exchange to mosey on somewhere else. Dubai is currently tipped as the next potential destination to dock, although there hasnt yet been any official announcement.
All this might explain why the SEC was so eager to cut Binance off from its primary stablecoin provider, the New York-headquartered Paxos, by threatening to take it to court to prove that BUSD was an unregistered security.
And that really worked: BUSD was the seventh largest cryptocurrency by market cap, worth $16.1 billion, before the SEC sent its Wells notice to Paxos in February 2023. Paxos stopped minting new tokens and over the next month, BUSD holders redeemed about half the supply. By January this year, there was only $100 million in circulation.
But while the US has seemingly thrown anything that might stick at Binance and Zhao, there appears to have been little impact on Binance user activity.
After collating the exchanges monthly proof of reserves disclosures, its clear that Binance hasnt skipped a beat, at least in terms of user capital on the platform.
Binance disclosed $115 billion in user funds at the start of July, up from $61 billion one year ago, and $45.6 billion when reports first surfaced of a years-long DOJ investigation in December 2022.
Other stablecoins including TrueUSD, USDT and FDUSD plugged the gap left after Paxos wound down BUSD, with the latter two headquartered outside the US. TrueUSD meanwhile fell out of favor, leading to a number of delistings earlier this year.
In any case, as Zhao waits out the rest of his sentence, the makeup of user funds on the platform is morphing, with the data indicating that the general consensus is to hold.
Bitcoin made up 18% of user funds in December 2022 now its over one-third. Similarly, BNB went from 14% to 20%, while ETH has stayed largely unchanged at about 14%, presumably on account of lackluster price growth compared to bitcoin and BNB.
The real tell is that only one-fifth of all user funds on the platform are currently stablecoins $24.4 billion down from more than half before Zhaos troubles really began. That means 80% of Binance user funds are held in non-dollar-pegged crypto assets.
Clearly, users are confident after the SEC and DOJs actions, not only that everything at Binance is above board, but that prices will rise from here.
David Canellis
Paxos is getting off scot-free after the SEC said it wouldnt pursue legal action against the company.
Lets back up for a second. The SEC issued Paxos a Wells notice last February. This came, obviously, before the SECs case against Binance in June.
I mention this because the SEC, in its complaint against Binance, alleged that BUSD was a security.
Thereve been some interesting developments in that case as well.
Last month, Judge Amy Berman Jackson the judge overseeing the Binance case ruled against a motion to dismiss filed by Binance and its US entities. However, there were a few curveballs hidden in her ruling.
Jackson wrote that the SEC didnt plausibly allege that BUSD was offered and sold as an investment contract.
The SEC makes the vague assertion that Binance used at least a portion of those returns to enable and promote the Binance ecosystem, which it says gave BUSD its potential profit, but it does not explicitly link the value of the token which was tied to the US dollar to the success of the platform, she said.
The SEC, at the hearing on the motion to dismiss, also tried to argue that it wasnt claiming BUSD by itself was a security but rather that it was sold as a package that promoted a profit-making program.
Judge Jackson, in denying the charge regarding BUSD sales, clearly decided that there wasnt enough to support the claims.
Unfortunately, the BUSD of it all is a bit of a moot point, given that Paxos quickly shut down its Binance partnership and stopped issuing the stablecoin in late February of last year.
But theres no doubt the SEC dropping the investigation is a win for Paxos.
Paxos Trust Company has always maintained that its USD-backed stablecoins are not securities under federal securities laws and that the Wells Notice was unwarranted and unjustified, the company said in a statement.
Does this mean that the SEC is potentially abandoning the ability to label stablecoins as a security?
The SECs decision to not bring an enforcement action against Paxos signals that it may consider that USD-backed stablecoins are not securities. If the question of whether stablecoins are securities is definitively answered, the SEC would provide a necessary degree of regulatory certainty to this asset class, said David Oliwenstein, partner at Pillsbury Law.
But others say its still unclear. Right now, theres too little information to read deep into that scenario confidently.
The declination letter is a significant victory for Paxos and what should be viewed as encouraging to the industry, even though it doesnt establish with any certainty that any specific type of stablecoin is or is not a security, Andrew Hinkes, partner at K&L Gates, said.
If you wanted to look on the positive side, then one might even think the SEC was somehow being thoughtful in its approach to regulating the industry. Or maybe its just acknowledging that BUSD is DOA at this point.
Either way, its Friday.
Katherine Ross
Taking a page from the Gensler playbook?
That was the impression I couldnt quite shake whilst following Rostin Behnams testimony yesterday before Congress.
According to Fox Business Eleanor Terrett, the CFTC chief reportedly said that 70-to-80% of the crypto market comprises non-securities. A bold statement, and suggestive of the idea that theyre commodities instead and thus under the agencys purview. Behnam might also be signaling that the CFTC is basing this reasoning on market capitalization, with BTC and ETH comprising the bulk of the pie.
Sound familiar? That kind of expansive terrain-charting is reminiscent of Genslers frequent citation that most of the crypto market consists of, well, securities a declaration that would make it largely the SECs beat instead.
Its certainly curious of Behnam to make such statements, especially as if some Congress has its way the two agencies will be required to join forces in some areas on crypto oversight.
Perhaps the jockeying for position, and money, has already begun.
Michael McSweeney
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Empire Newsletter: What the SEC dropping its Paxos probe really means - Blockworks
Can Solana (SOL) and Binance Coin (BNB) Hit $2000 This Bull Run? Rollblock Presale Sees Record Day As Momentum Keeps Building – NewsBTC
Major coins in the cryptocurrency market are still experiencing their bearish phase. For example, Binance Coin (BNB) and Solana (SOL) have seen sharp declines in value during the last seven days.
Meanwhile, a new cryptocurrency is making headlines. Analysts believe it could experience significant growth in Q3, having already raised over $1 million in less than two months. The project? Rollblock.
Rollblock is an online casino built on the Ethereum blockchain. It combines features from centralized and decentralized gambling platforms to offer a unique GambleFi experience. According to experts, its utility token, $RBLK, is expected to soar by 720% during its presale alone!
Solanas (SOL) price was in an uptrend on 2nd July, reaching a peak of $154.60. Nonetheless, the next day it crashed to $131 thereafter before recovering to $140 on 9th July. According to charts, Solanas stance has moved from bullish to bearish over the past month, and experts believe additional decreases are on the way.
Some experts are optimistic that due to institutional adoption, forthcoming upgrades and innovative features, Solana could go as high as $2,000 in 2024. With a potential Solana ETF on the way, all eyes are on the altcoin, though its value continues to fluctuate, making Solana a somewhat risky investment.
Over the last 30 days, Binance Coin (BNB), the native token of Binance Smart Chain (BSC), has dropped by 23.9%. However, Binance Coin investors remain confident in the projects growth, with many predicting that it could hit a new all-time high in Q3.
Several factors could influence this growth, including an influx of new investors, an increase of users on the Binance exchange, and confidence in Binance Coin. Although Binance Coin is currently facing bearish trends, the project has a strong foundation that could easily see Binance Coin recover during the next bull run.
Rollblock (RBLK) is one of the first community-backed GambleFi casinos. It uses blockchain technology to solve many problems associated with traditional centralized casinos.
By harnessing the immutable nature of blockchain technology, Rollblock offers greater security and transparency. All transactions are recorded on the Ethereum blockchain, and bets cannot be altered once placed.
Rollblock also offers an improved sign-up process which lets users enter the casino without having to go through Know Your Customer (KYC) verification. This enhances confidentiality and also makes it easier for many people to join.
Rollblocks native token, RBLK, is used for rewards throughout the casino. Furthermore, it can be staked for industry leading returns and grants holders access to Rollblocks revenue share model. Rollblock is one of the only GambleFi casinos to share its revenue with token holders, who will be granted a share in up to 30% of the platforms revenue.
To share revenue, Rollblock will buy $RBLK tokens from the open market. Half of the tokens it buys are permanently burned, and the remaining half are used as staking rewards. By burning tokens, Rollblock creates token scarcity, driving up the price of tokens held by investors.
According to experts, Rollblock could disrupt the $450 billion gambling market in just a few years. The project is currently in stage 3 of its presale, and $RBLK tokens are available for $0.0154. However, with tokens selling out fast, analysts dont think it will stay at this price for long.
Over the next few months Rollblock plans to add several new features to its ecosystem. These include sports betting, which is predicted to become a massive hit amongst the Rollblock user base. Currently, over 5,000 investors have signed up for the platform, which is already live and has all required licensing.
Given its potential, experts believe that $RBLK could see a massive 100x rally before the end of 2024. With early investors already enjoying returns of 54%, this is a huge opportunity for altcoin investors to maximize their returns and recover from recent bearish trends.
Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!
Website: https://presale.rollblock.io/
Socials: https://linktr.ee/rollblockcasino
Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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Nigerian Court Will Announce Verdict on Binances Tax Evasion Charges in October – Live Bitcoin News
Binance faces four tax evasion charges from Nigerias Federal Inland Revenue Service (FIRS). A court in Abuja has scheduled its verdict for October 11.
Binances lawyer in Nigeria, Ayodele Omotilewa, argued on July 12 to have all charges dropped against Binance due to lack of sufficient grounds. They maintained the crypto exchange was not guilty in front of Judge Emeka Nwite.
The same judge dropped tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, Binance executives visiting Nigeria in February to negotiate with the government. They were detained in Nigerian prison after the negotiations turned hostile.
Anjarwalla managed to escape prison and flee to Kenya, the country he is a citizen of. Gambaryan remains under custody. The individuals are yet to be acquitted of money laundering charges, which have prevented Gambaryan from getting his freedom.
US lawmakers have urged the Nigerian government to set him free as he does not occupy a decision-making role in the Binance. They also urged US President Joe Biden to prioritize Gambaryans release. One lawmaker brought a resolution to provide the executive the hostage status if he is not freed by July 15.
The ongoing case against Binance and its executives coincides with the Central Bank of Nigeria bringing new licensing and registration norms for crypto firms operating in the country.
It has claimed that firms like Binance have facilitated Nigerian citizens to trade its national currency, the Naira, for the US dollar and cryptocurrency unlawfully, without maintaining anti-money laundering (AML) programs. Moreover, it blames the Nairas devaluation on these firms. It also maintains that cryptocurrency use within the country is a national security risk.
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Nigerian Court Will Announce Verdict on Binances Tax Evasion Charges in October - Live Bitcoin News
BINANCE COIN PRICE ANALYSIS & PREDICTION (July 11) BNB Meets Resistance After A Week Recovery, Incoming Drops? – NullTX
An additional 2% gain in the past 24 hours has sustained BNBs bulls in the latest recovery. While it traded in a green zone over the past few days, the trend remains bearish daily with no signs of reversal yet.
Breaking lower this month, BNB found support after rejecting the $455 low a week ago. It bounced back and it is now trading at a resistance of $536 the May support level that flipped during last weeks crackdown.
The price appeared strong on the day despite a slight rejection but the bulls commitment seemed not enough to push through the resistance. An increase above this resistance could allow recovery to Junes low.
But looking at the market structure, which still reveals a downtrend, BNB may break lower soon. If this scenario occurs, the recent monthly low may be revisited with a potential breakdown.
While such a setup is capable of causing more pain in the market, it should provide a huge discount for buying from a long-term perspective.
Meanwhile, the bulls are still much more formidable with an attempt to scale through the current trading resistance level mentioned above. If they successfully conquer this resistance level, a bigger price movement can be expected in the future.
Above this holding resistance lies a key resistance level of $560 Junes low. A push above it could bring more recovery to the $587 level and potentially $614.4.
Considering the existing bearish market condition, the price may roll back to the $508 and $471 support levels if the bears step back. A breakdown at $455 could bring the price to minor support of $440 before testing the main $428 support level.
Key Resistance Levels: $560, $587, $614.4
Key Support Levels: $508, $471, $455
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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Crypto adoption in Argentina soars amid 276% inflation spike – Cointelegraph
Cryptocurrency adoption in Argentina has set records as the local inflation rate skyrockets.
Argentina has been leading the Western hemisphere in cryptocurrency adoption with a 276% annual inflation rate, according to analysts from the American business magazine Forbes.
Crypto adoption in Argentina is higher as a share of its global population than any other country in the Western hemisphere, Forbes analysts reported in an article on July 8. Out of 130 million visitors to 55 of the largest exchanges worldwide, 2.5 million came from Argentina, the report noted, citing website data from Similarweb.
Argentina is also the top market on Binance one of the worlds largest crypto exchanges in terms of visitors. According to SimilarWeb, website traffic from Argentina accounts for 6.9% of Binances total visits.
In contrast to the surging memecoin trend in the crypto industry, the crypto adoption in Argentina has not been driven by memecoins. The locals instead prefer holding stablecoins like Tether (USDT), the analysts claimed, citing remarks by Maximiliano Hin, Bitgets head of Latin America.
Argentina is an anomalous market where many people buy USDT and dont leave room for much else, Hinz said, adding:
Stablecoins like USDT are a type of cryptocurrency designed to maintain a stable value by pegging to a reserve of US dollars at a 1:1 ratio. With massive local inflation rates, holding money in USDT makes sense for people in Argentina despite the countrys lack of significant measures to protect stablecoin investors.
Despite Argentinas friendly stance on cryptocurrencies like Bitcoin (BTC), the country has apparently struggled to create a framework to regulate the industry.
In late 2023, after President Javier Milei took office, Argentina officially endorsed using Bitcoin in legally binding contracts.
Related: Canadian crypto adoption struggles as cash remains king
Since then, Argentina has been trying to regulate the local cryptocurrency market, passing registration requirements for crypto firms in April 2024.
Despite the governments crypto regulation efforts, Argentina still struggles to provide regulated cryptocurrency services to its population, according toForbes.
The report claimed that none of Argentinas top crypto exchanges, including Binance, have registered with the national securities regulator, Comisin Nacional de Valores (CNV).
To the best of my knowledge, there is no licensing requirement in the Latin American countries where Bitget operates, Bitgets Hin stated.
Cointelegraph approached CNV for a comment regarding local crypto regulations but did not receive a response at the time of publication.
Magazine: Crypto-Sec: Phishing scammer goes after Hedera users, address poisoner gets $70K
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Crypto adoption in Argentina soars amid 276% inflation spike - Cointelegraph
$537 million Binance deposits tied to BTC price drop suggest whales selling: LookOnChain – The Block
The Block July 5, 2024, 3:31PM EDT Published 1 minute earlier on
Two wallets have deposited 9,500 BTC +2.55% to Binance since June 27, potentially indicating whales liquidating nearly $550 million in cryptocurrency.
The wallets, first spotted by blockchain analytics firm Lookonchain, could represent whales cashing in on their bitcoin holdings, which are currently valued at $537 million. When the transfers began last week, the stash was worth closer to $575 million.
Lookonchain also analyzed the timing of transfers from each of the two wallets and found a correlationbetween the transfers to addresses tagged as Binance deposit wallets by Arkham Intelligence and subsequent declines in the price of bitcoin that were likely sparked by the large sales.
One wallet still holds over 4,300 bitcoin worth nearly $250 million at current prices. Its most recent deposit to a Binance address occurred two days ago.
The crypto industry has been roiled in recent days by the movement of bitcoin associated with hacked exchange Mt. Gox's repayment of creditors in bitcoin and bitcoin cash. The news has already caused hundreds of millions of dollars of liquidations across the crypto market, though the timeline for repayments varies per custodian, and some creditors may have to wait up to three months to receive their coins.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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$537 million Binance deposits tied to BTC price drop suggest whales selling: LookOnChain - The Block