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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writers opinion.

Binance [BNB] the largest crypto exchange by trade volume seems to be losing out with the mounting regulatory scrutiny from Western regulators. In the latest development, Mastercard, one of the leading payment service providers, announced it would be parting ways from the exchange.

Two major developments also took place in the last few days that reflect the currents of the ongoing tussle Binanceis engaged in across countries.

In Nigeria, a leading trade association urged the national government to ban the activities of Binance. The Nigerian regulator has already banned the exchange in the country.

Meanwhile, the exchange secured a license to operate in El Salvador. Binance is the first fully licensed crypto exchange in the country.

While we see Binance getting a warm reception in some jurisdictions, it is facing scrutiny in others. It all began when the U.S. Securities and Exchange Commission (SEC) sued the exchange inearly June for allegedly violating federal securities laws.

TradingView shows a surge in aggregated sell orders of about 125,000 BNB worth $37 million just before the U.S. SECs crackdown on the exchange. Speculations are rife around a possible case of insider trading.

In another development, the U.S. Department of Justice (DOJ) is reportedly contemplating the possibility of bringing fraud charges against cryptocurrency exchange Binance. Officials at the DoJ are concerned, Binance could trigger a situation similar to what FTX experienced in 2022. As a result, they were exploring alternatives such as imposing fines or establishing non-prosecution agreements with Binance, aiming to mitigate potential harm to consumers.

Earlier, BNBs price rose barely 7% after Ripple [XRP] secured a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. But it hasnt led to a significant price rally.

The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripples XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of the XRP tokens violated federal securities laws.

The crypto industry has lapped up the judgement instantly, generating a price rally across tokens for some time.

Binance has been subjected to relentless regulatory scrutiny in 2023, raising grave concerns about the survival of one of the largest crypto companies in the world.

The worlds leading crypto exchange is also under regulatory scrutiny across several countries in Europe besides the U.S.

Germanys financial regulator has rejected Binances request for a crypto custody license. The exchange has withdrawn its request for regulatory approval in Austria. It has also given up its registration with regulatory bodies in the United KingdomandCyprus.

The exchange has opted toquit the Netherlands after failing to register there. Belgium has also ordered the exchange to suspend its operations in the country. The French authorities are also reportedly investigatingthe exchange on aggravated money laundering charges.

In March, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit accusing the exchange and its founder Changpeng Zhao CZ of violating local compliance rules to expand its business. The exchange has decided to seek dismissal of CFTCs complaint.

However, the recent SEC-Ripple court judgement has led many to believe it will have a positive impact on Binances case also.

The future course for Binance and its native token, Binance Coin, is shrouded in uncertainty. And, most of the investors and analysts in the space would be busy understanding the dynamics of making informed decisions going forward. We at AMB Crypto, tried to get some help from an unlikely ally, ChatGPT

ReadPrice Prediction for Binance Coin [BNB]2023-24

Ever since it burst onto the scene, ChatGPT has become a rage, revolutionizing the way humans interact with AI. People have flooded the AI-powered chatbot with a plethora of use cases to get assistance with literally anything. Right from finding a bug in a code, asking philosophical questions about life, getting dating advice, and even writing full-fledged media articles (not this one though).

Put simply, it functions like a conventional chatbot that we have encountered in the customer support section of different e-commerce companies. However, the big difference here is that communication is more conversational, or to put it differently, more human-like.

Well, this is because it is trained using reinforcement learning from human feedback (RLHF). This helps it understand instructions and generate nuanced responses.

But crypto? Binance? Are we stretching the limits of ChatGPT? Lets see.

Binance is not new to compliance-related issues in the U.S. In 2019, it ceased operating in the country and launched a separate exchange, Binance.US, its American arm.

The platforms structure is quite similar to the fallen FTX in the sense that a major part of its administration is being controlled from outside the U.S. Hence, it has always been under the radar of the regulators.

We started to test our AI friend by posing this very sweeping, although controversial, question. Currently, the ability of ChatGPT to express itself is hindered due to the restrictions imposed by the creators. To make it speak its mind, we used the jailbreak hack.

ChatGPT speculated that Binace might consider adjusting its operational strategies inthe face of a regulatory storm in the U.S. However, the final outcome is shrouded in uncertainty.

Apart from regulatory concerns, the ecosystems blockchain, BNB Chain, has gained notoriety over the rising number of decentralized finance (DeFi) hacks of late. As per a report by ImmuneFi, a Web3 bug bounty platform, BNB Chain was the most targeted chain in Q1 2023 with 33 incidents of hacks and exploits.

Here again, we turn to our AI partner to know if hacks will be the undoing of Binance. This time, it seemed as if it was ready to respond to this question promptly.

ChatGPT said hacks were definitely a cause for concern and advised the developers to prioritize the issue. Otherwise, it may have a damaging effect not just on the adoption of the BNB Chain, but on the value of the BNB coin as well.

Well, ChatGPT asks readers to take its word of caution seriously. To address the security loopholes, BNB Chain soon announced a hard fork which is scheduled to go live on 12 April.

Another thing that caught our attention was the use of BSC rather than BNB in the latest response. Now, its a known fact that Binance Chain and Binance Smart Chain are now collectively referred to as one entityBNB Chain. The update took place in February 2022. However, ChatGPT continued to use BSC Chain.

This, because its knowledge cutoff date is September 2021, meaning that it will base its answers on the information available until this date only.

At press time, BNB was the fourth-largest cryptocurrency in the sector, with a market cap of more than $33 billion, as per CoinMarketCap data. As a result, significant fluctuations in its value could create ripples in the broader crypto market.

BNB commenced a bullish cycle at the start of 2023, something that has helped it in gaining 27% on a year-to-date (YTD) basis. However, recent hiccups have applied brakes to its momentum.

Although setting unrealistic expectations amidst this FUD is not the most sensible thing to do, we tried to put ChatGPT under a bit of pressure. We asked it what price BNB will hit towards the end of 2023, given the current state of uncertainty. The AI bot responded; it sees BNB hitting the price of $300-$350 by the close of 2023.

Enough of the AI praise! Needless to say, it isnt practical to only depend on what an AI tool says in price predictions and markets. There is nothing like getting the insights of real-world experts. Therefore, we got in touch with Marius Grigoras, Chief Executive Officer at BHero and a crypto-expert, to help us out with the same question that we asked ChatGPT. He stated,

While I cannot give a certain answer on whether BNB will reach $350 in 2023, we must consider the general market dynamics. Its evident that the recent regulatory crackdown has taken its toll on the entire crypto market, including BNB. But despite some fluctuations in price which may occur in the short term, I believe BNB possesses the resilience to rebound even stronger in the long haul.

Did you find similarities between human opinion and AI opinion?

Is your portfolio green? Check out theBNB Profit Calculator

BNB continues to bleed out since the U.S. SEC filed a lawsuit in early June. At press time, BNB was trading at $217.1. The price of BNB is nearly the same as it was a week earlier.

This is obviously not a good time for the token. The coin tanked to $220 during the December 2022 FUD around Binances proof of reserves.

While both BNBs Relative Strength Index (RSI) and Money Flow Index (MFI) rested below the neutral 50-mark, its On Balance Volume (OBV) also showed a downtick over the last few days.

While BNBs on-chart metrics dont point towards a price rally, ChatGPT predicts its price to more than double by the end of the year. However, its critical to underline that these indicators fluctuate on a daily basis and might quickly take a wild swing.

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I asked ChatGPT about BNB as the fate of CZ-led Binance is in limbo - AMBCrypto News

Bitcoin has pulled back from Tuesday's high above $28,000, a level the crypto asset traded before the mid-August sell-off, as investors mulled the implications of Grayscale's court victory over the US Securities and Exchange Commission (SEC).

Meanwhile, FET jumped 25% in value in the past three days, surging past $0.250 on Thursday. However, it went on to drop to $0.229 before going back up a bit to now trade at $0.24130.

With a market cap of $245.6 million, FET is the 128th largest crypto asset, and it is currently up 10.9% against USD 11.2% and 11.3% against BTC and ETH, respectively, in the past 24 hours while managing $135 million in trading volume, representing an increase of 200% from a day ago. With this, FET is currently up 17% this month and 193.3% over the past year.

Looking upwards, the price has resistance present at $0.25, $0.27, and $0.29, while if the price moves down, it will find support at $0.17, $0.15, and $0.13.

For FET, 2023 has been a good start as prices went from $0.09225 at the beginning of the year to $0.550 on Feb. 8. However, over the next four months, FET dropped 67.2% in value to $0.180 in mid-June. And since then, the price has primarily been trading in the $0.20 and $0.25 range.

Launched in 2019, the token quickly dropped from $0.35 to $0.03 later in the same year, only to hit its all-time low at $0.008169 in March 2020, much like the majority of the crypto market. Then, a year and a half later, it surged to its all-time high (ATH) of $1.17. The token is currently down 79.5% from its Sep. 2021 peak.

FET is an Ethereum token that serves as the primary medium of exchange within the Fetch.ai ecosystem. To avail of the services provided by the platform, one has to pay in FET. In addition to payment, through staking, FED holders can earn semi-passive income from their FET tokens while contributing to the Fetch network's operations.

The token has a total supply of 1.15 billion, out of which just over 1 billion are already circulating in the market.

Co-founded in 2017 by Humayun Sheik, Toby Simpson, and Thomas Hain, the platform raised $15 million in a seed funding round in June 2018 and then $6 million through an initial exchange offering (IEO) on Binance in February 2019. Fetch launched its mainnet in March 2021 and raised another $5 million.

In July 2021, Fetch.ai upgraded its network, and a month later, it was able to force Binance to find and freeze $2.6 million worth of assets allegedly stolen from the project's Binance trading account by hackers.

This year, in March, the Artificial Intelligence (AI)-focused crypto protocol yet again raised $40 million from market maker and investment firm DWF Labs. The capital will be used for deploying decentralized machine learning, autonomous agents, and network infrastructure on its platform, the firm said. This fresh funding came during the rise in popularity of AI-driven chatbots such as ChatGPT and image generation software DALL-E.

Click here to learn all about investing in Fetch.ai (FET).

Fetch.ai is a decentralized blockchain-based artificial intelligence (AI) and machine learning (ML) platform. It seeks to provide AI platforms and services that allow anybody to build and deploy AI at scale, at any time, and from any location.

The platform combines blockchain architecture with direct acrylic graph (DAG) technology, and for consensus, it uses a combination of PoW, PoS, and DAG, which is the UPoW (useful proof-of-work/proof-of-beneficial work).

Fetch.ai aims to be a decentralized digital world in which autonomous software agents conduct productive economic activities. As such, users can utilize the platform to accomplish tasks such as distributing data or offering services and be compensated with FET tokens for their efforts.

It further aims to link agents, digital entities representing data, service, hardware, individuals, or infrastructure elements, with value and users who need that value. Users can also digitize themselves or their businesses by claiming a digital twin, which is a personal agent who tries to improve users' lives.

So, while the crypto market has been making attempts at recovery, the project released the Fetch.ai Wallet version 0.15 in August. This marks the beginning of cross-chain support in the wallet, with the update serving as a stepping stone toward a future where interoperability between EVM networks and the Cosmos ecosystem becomes accessible to all, said the team.

The wallet now supports two new EVM chains, viz. Ethereum and Binance Smart Chain with more to be added in the future, including the ability to add custom chains in the next release.

At the same time, the team introduced native FET bridge support for Ethereum and Fetchhub networks, allowing users to effortlessly convert FET tokens from Ethereum ERC20 to Fetchhub native and vice versa.

As we embark on this journey toward greater cross-chain functionality, we envision a future where the lines between networks blur, and the endless possibilities of interoperable systems come to fruition, said the Fetch.ai team, which is also planning to roll out AI-based automation in subsequent releases.

The month before, the team released Agentverse v0.7, bringing new features and enhancements to the Fetch.ai Agentverse platform. This included smart contract capabilities introduced to Managed Agents within the Agentverse, allowing users to deploy and interact with contracts on the Fetch.ai ledger using CosmPy's LedgerContract object. Additionally, the Protocol Manifest Viewer allowed users to explore detailed specifications of protocols uploaded to the Agentverse, enhancing collaboration and innovation within the community. At the time, the testnet faucet was also replaced with a central funding manager for convenience.

Earlier this in Feb. as artificial intelligence-focused cryptocurrencies gained favor among investors and traders, Fetch.ai teamed up with electronics giant Bosch to form a foundation called the Fetch.ai Foundation for the research and development of blockchain technology's real-world use cases in the areas of commerce, hospitality, and transportation.

The Netherlands-based non-profit organization has a three-tier governance structure and is inspired by the Linux Foundation's decentralized innovation model. With the help of Bosch, Fetch.ai aims to fast track Web3 adoption in the industry and encourage participant growth and contributions from new participants.

Most recently, Fetch.ai's Discord server got compromised, resulting in phishing attempts. The team has advised the community to remain vigilant and use only the official channels via its website. The team has contacted Discord, Twitter, and Google to take down the fake accounts and landing pages.

Click here to learn all about buying Fetch.ai (FET).

FET's latest price action came after Bitcoin made one of the largest hourly moves since Terra's collapse, which is in part due to low liquidity. The other time was during the Aug. 17 sell-off, which sent Bitcoin's price to a two-month low, resulting in traders recording $1 billion of losses in liquidations.

At the time of writing, the largest cryptocurrency by market cap is trading at $27,290, while Ether is exchanging hands at $1,710. The broader crypto market mirrored the two leading assets' move, with the total crypto market also falling a bit to $1.131 trillion.

This week, the crypto market rejoiced with the news of a federal appeals court ordering the SEC to review its rejection of investment manager Grayscale's bid to convert its $16.95 billion Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF), spurring an immediate rally in not just digital asset prices but also crypto-related stocks.

Talking about Grayscale's win, broker Bernstein said in a research report that it was the second landmark win for the crypto industry against the SEC following Ripple's favorable ruling last month. The ruling likely clears the path for a spot bitcoin ETF and increases the chances that the Commission might approve all the current applications together, analysts led by Gautam Chhugani wrote.

Advocates expect this product to enable a greater swath of the general public to invest in Bitcoin without having to go through the trouble of buying it directly. So far, the SEC has rejected every such ETF application it has reviewed.

Hence, the decision has been hailed as a landmark victory that could potentially pave the way for a spot BTC ETF in the future and the entry of fresh capital in the market. During the summer, several investment firms applied or renewed their bid to list such a product, including TradFi giant BlackRock.

BlackRock's Bitcoin ETF will attract an allocation of $20-50bn over time, a calculated assumption given that Gold ETFs alone hold $100 billion, wrote Markus Thielen, head of research and strategy at Matrixport, in a note to clients this week, adding the well-diversified portfolio would allocate 42% to global fixed income, 21% to global equities, and 37% to alternatives including 10.6% to BTC.

However, it is notable that the ruling doesn't automatically guarantee the approval of Grayscale or any other firm's application. According to Berstein, it does give a fair basis for Grayscale to be treated in line with other Bitcoin ETF applicants. Bernstein has previously said that it expects a spot bitcoin ETF market to reach 10% of the BTC market cap in just a couple of years.

While it's too early to tell how sustainable the latest spike in price was, we could see a slight reversal, said Clara Medalie, director of research at Kaiko, in an interview. This expectation for a reversal is based on the fact that this rally was only accompanied by modest trading volumes, which represents market participants' engagement in the market and climbed to just a two-week high relative to other mini bull markets.

The good thing is average BTC buy orders, unlike volume, have jumped to the highest since June, suggesting activity from large investors. The average trade size for Bitcoin on Kraken increased to above $2,000 on Tuesday after the ruling, from around $850 the day prior, as per the data from Kaiko. The last time BTC's average trade size was higher than $2,168 was in June.

While a series of ETF approvals will be a bullish catalyst for the crypto market, Medalie said, We are still in the middle of a tumultuous period for the industry with quite a few bankruptcies and lawsuits ongoing.

With Bitcoin price showing weakness after the initial jump, further downside is expected, with the support level to watch at around $25,000.

This week, another piece of good news came from the social media platform X (formerly Twitter), as it obtained a license required for crypto payments and trading in the US. The Rhode Island Currency Transmitter License was approved on Monday, which is required to provide virtual asset-related services on behalf of users. It will enable X to exchange, transfer, and store digital assets for its massive user base.

Separately, X owner Elon Muskagreedlate on Wednesday to DogeDesigner's post about the social media company not launching any X-coin but rather making real money work on the app rather than some substitute currency. Previously, Musk has stated that he wants to turn the platform into an everything app.'

On top of it all, the US Labor Department's Job Openings and Labor Turnover Survey (JOLTS) said vacancies dropped to the lowest level in over two years in July. The data weakens the case for continued rate hikes and, as a result, sent Treasury yields and the dollar lower.

So, as we saw, the crypto market has made several developments, but the price has lost strength, which means a further downtrend is to be expected in the near future. But while it takes time for the market to regain interest and traction, it is a good time for projects like Fetch.ai, which are also leveraging the trending AI narrative, to prepare for the times when retail gets back in.

The rest is here:

Fetch.ai (FET) Continues 2023 Momentum, up Almost 200% Year ... - Securities.io

Continuing our column with analysis of the crypto world, focusing on news and prices of digital assets, today we focus on Monero, Ripple and BNB.

Lets start with Monero, the current price is US$142.94, with a market capitalization of US$2.6 billion.

Over the past 24 hours, the transaction volume was US$96.8 million, while the circulating supply of Monero is 18.3 million XMR. The all-time high recorded by Monero was US$517.62, nearly 5 times more than the current price.

In the span of seven days, Monero recorded a positive change of +2.95%, we cannot call it a substantial increase, but it is still a positive figure.

Lets continue with Ripple, the current price of XRP is US$0.50, with a market capitalization of US$26.7 billion. Over the past seven days, XRP has seen a negative change of -1.52%.

Over the past 24 hours, the transaction volume was $1.1 billion, while the circulating supply of XRP is 53.0 billion XRP. The average holding time for XRP is 48 days, reflecting some stability in its distribution.

Currently, Ripple (XRP) is ranked fourth in terms of popularity in the cryptocurrency market.

The all-time high recorded by Ripple was US$3.84.

Finally, BNB: The current price of Binance Coin (BNB) is US$214.82, with a market capitalization of US$33.1 billion.

Over the past 24 hours, the transaction volume was US$463.5 million, while the circulating supply of BNB is 153.9 million. The all-time high recorded by Binance Coin was US$690.93.

In the seven-day period, Binance Coin recorded a minimal change of -0.03%.

This data reflects the dynamics of the cryptocurrency market, which is characterized by significant price fluctuations. But now let us turn to the most important news that characterized the prices and statistics in question.

In a recent twist in the cryptocurrency world, XRP lawyer John Deaton and Ripples Chief Legal Officer (CLO) Stuart Alderoty are celebrating what they consider a significant victory over the US Securities and Exchange Commission (SEC).

Their jubilation stems from a recent court ruling that marked a substantial setback for the SEC in its case against Grayscale, and prompted Deaton to label the agency as transient regulators.

Deaton, a prominent XRP supporter and critic of the SECs actions, argues that the SECs recent court defeat highlights its changing and unpredictable regulatory posture.

According to him, the agencys approach has been far from consistent, generating confusion in the cryptocurrency industry.

The root of this legal battle can be traced back to the SECs lawsuit against Ripple Labs, which claimed that the companys sale of XRP tokens constituted an unregistered securities offering.

One of the key points in this ongoing saga has been the SECs expectation that Ripple would settle with regulators to resolve the issue. However, Ripple vehemently opposed this course of action, resulting in a lengthy legal battle.

Stuart Alderoty, Ripples CLO, commented on the situation, emphasizing the role of prosecutors in limiting the SECs reach.

He argues that the courts ruling that the SECs actions were illegal is a clear indication that the agencys authority should not extend beyond reasonable limits.

The recent court ruling, which favored Grayscale, underscores the challenges the SEC faces in maintaining its regulatory dominance in the cryptocurrency space.

The circuit judge of the US Court of Appeals Neomi Rao dealt a blow to the SEC, stating that the rejection of Grayscales claims was erroneous.

This court victory was celebrated not only by XRP supporters, but also by the broader cryptocurrency community, as it raises questions about the SECs approach to regulating digital assets.

Deaton and Alderotys comments serve as a reminder that regulatory clarity and consistency are essential to the healthy development of the cryptocurrency industry.

In a dramatic twist in the cryptocurrency sphere, a cryptocurrency wallet associated with the BNB Smart Chain exploit faced a substantial setback, with three of its positions liquidated in a sudden market crash that saw the price of Binance Coin (BNB) plummet below the $220 mark.

This market crash triggered a cascade of liquidations among various traders. What makes this incident particularly noteworthy is its connection to the infamous BNB Smart Chain exploit, which had previously led to the theft of an astonishing sum of nearly $600 million in BNB tokens.

The exploit, which occurred on 6 October, resulted in the suspension of the crossbridge of the BNB Smart Chain blockchain network. This exploit allowed the cunning attackers to steal as many as 2 million BNB tokens, a sum that was equivalent to as much as $568 million at the time of the theft.

The sheer audacity of this breach reverberated throughout the cryptocurrency community.

However, the story took another turn on 18 August, when a cryptocurrency wallet linked to the exploit found itself in a precarious position.

With collateral assets exceeding $53 million, the wallets assets were ruthlessly liquidated on the cryptocurrency lending platform known as Venus Protocol, as revealed by blockchain security firm PeckShield.

It appears that the hacker responsible for the exploit used these illicit tokens as collateral for a 30 million Tether (USDT) loan on the protocol, a bold move that ultimately led to a substantial loss in the ensuing market turmoil.

This incident serves as a reminder of the volatility and unpredictability that characterizes the cryptocurrency market. While the cryptocurrency landscape is rich in opportunity, it also presents significant risks.

As the cryptocurrency community grapples with security challenges and strives to find more secure and transparent solutions, this incident is a testament to the ever-evolving nature of the digital asset ecosystem, where fortunes can change in the blink of an eye.

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Latest crypto news on Monero, Ripple and BNB - The Cryptonomist