Over the weekend, Binance and Coinbase were accused of asking for millionaire fees for token listing, igniting a discussion about listing requirements, exchange rivalry, and FUD (fear, uncertainty, and doubt). Several industry figures weighed in on the matter, including Justin Sun, Brian Armstrong, and Changpeng Zhao, who denied the claims on Monday. Related Reading: XRP […]
Binance founder Changpeng Zhao, or “CZ,” is back in the limelight after serving four months in jail. One of Zhao’s first public appearances was at the Binance Blockchain Week conference, where he discussed his experience, future plans, and current relationship with the exchange he founded. Related Reading: Are Crypto Banks In Danger? FDIC ‘Pause Letters’ […]
Tron Network founder Justin Sun and Sonic Labs co-founder Andre Cronje have disputed Coinbase CEO Brian Armstrong‘s claim that the US-based trading platform provides free asset listings. On Nov. 4, Sun revealed that Coinbase allegedly demanded a payment of 500 million TRX, valued at around $80 million, for listing TRX, Tron’s native token. However, he […]
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Bitcoin (BTC) has had a volatile 24 hours, hitting as low as $68,830 on the Binance crypto exchange before recovering some losses. Liquidation Data At A Glance Although BTC is trading close to its all-time high (ATH) value of $73,737, yesterday’s quick drop in price cast doubts on whether the top digital asset will be able to record a new ATH. Related Reading: Bitcoin Makes ATH Against Euro Due To Change In Dollar Strength, Details Inside According to CoinGlass data from the crypto liquidations tracker, more than $296 million of active positions were liquidated in the last 24 hours. Nearly 77% were long positions, indicating that traders were largely betting on BTC’s continued upward momentum. Binance saw the most liquidations at $124 million, followed by OKX with $74 million and Bybit with $65 million. In digital assets, Bitcoin led with over $97 million worth of positions liquidated, followed by Ethereum (ETH) at $47 million, and Solana at nearly $17 million. With yesterday’s slump, the total crypto market cap has shrunk by about 3.5%, currently valued at $2.48 trillion. It is worth noting that although BTC is close to its ATH, the total crypto market cap is still considerably far from its ATH of $2.98 trillion recorded in November 2021. The gap between BTC’s performance and the overall market cap suggests that altcoins have not kept pace with BTC’s recent gains, contributing to the disparity. This could also indicate a cautious investor sentiment, favoring BTC over altcoins during uncertain periods. At the same time, it suggests that there is still a lot of room for altcoins to grow, which could tempt some more risk-seeking investors to accumulate altcoins in hopes of extraordinary gains relative to BTC. That said, Bitcoin dominance – a metric that gauges the proportion of the overall crypto market cap commanded by BTC – is steadily climbing toward 60%. A higher BTC dominance could spell disaster for altcoins already trailing BTC in price action. Can Bitcoin Still Hit ATH? The question on the minds of crypto enthusiasts is whether BTC will achieve a new ATH during this rally. The answer is not straightforward. Related Reading: Bitcoin’s Active Addresses Signals Golden Cross—What Next For BTC? Factors supporting a potential new ATH include the increased likelihood of pro-crypto US presidential candidate Donald Trump winning the election, the effects of BTC halving, increased inflows to BTC exchange-traded funds (ETF), and a low interest rate environment. On the contrary, sentiment indicators like the Fear and Greed Index suggest the market is still in a ‘greed’ phase, hinting that there could be more pain for the market before the next leg up. Regardless of the outcome, the crypto market will likely remain volatile in the coming days. However, long-term BTC holders do not appear fazed by this prospect, as profit-taking remained relatively muted when the digital asset crossed $71,000. At press time, BTC trades at $71,524, up a modest 0.6% in the past 24 hours, with a reported market cap of $1.41 trillion. Featured image from Unsplash, Charts from CoinGecko, CoinGlass, and Tradingview.com
The Binance (BNB) Foundation has announced the successful completion of its 29th quarterly BNB burn. During this period, it has burnt a total of 1,772,712.363 BNB tokens worth approximately $1.07 billion. This quarter’s burning and future burning will be carried out directly on Binance Smart Chain (BSC). moreover, the corresponding amount of the BNB tokens …
Changpeng Zhao, the former CEO of Binance, the world’s largest cryptocurrency exchange by trading volume, made his anticipated return to the public eye at the Binance Blockchain Week in Dubai on Wednesday. This appearance marks his first since serving four months in prison, which has reshaped his outlook on life and leadership. CZ Reflects On […]
Current Know Your Customer verification procedures are often cumbersome, costly, and time-consuming for industry service providers.
Binance is turning to Amazon Web Services (AWS) and its advanced generative AI tools to enhance user experience on its platform, according to an Oct. 31 statement shared with CryptoSlate. By incorporating AWS’s Cloud and Generative AI technologies, Binance aims to streamline user onboarding, strengthen customer support, and improve internal systems for automated diagnostics and […]
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Ahead of the upcoming US Presidential elections, Changpeng Zhao, the co-founder and former CEO of Binance, is hopeful about the future of global crypto regulations. He stated that the cryptocurrency regulations are heading in a promising direction worldwide during his first public speech since his release from prison in the US. The former CEO of …
The Binance founder received an ovation at a standing-room only appearance in Dubai.
Binance has announced a strategic collaboration with Amazon Web Services (AWS) to leverage AI-powered tools in enhancing user services on its platform. The partnership leverages GenAI to revamp user experience, from seamless onboarding to automated customer support. With tools like Amazon Bedrock and ECS, Binance’s KYC now auto-fills data, cuts OCR costs by 80%, and …
Developing crypto regulations, along with a political shift toward cryptocurrencies, is a “very positive direction” for the industry, according to Changpeng Zhao.
During Binance Blockchain Week Dubai 2024, co-founder He Yi addressed Binance’s biggest challenges, highlighting the impact of CZ’s resignation and ongoing regulatory pressures. In a fireside chat with CoinMarketCap’s Alice Liu, Yi shared Binance’s goal to become the “Google” of Web3, building a user-friendly internet for the future. She emphasized Binance’s culture, centered on Responsibility, …
Bitcoin is stretching gains, looking at price action in the past few trading days. At spot rates, buyers are “hungry” and aiming not only to confirm the rally of the past two days but also to close above March 2024 highs of around $74,000. Bitcoin “Golden Cross” Forms The optimism has been confirmed on-chain. On […]
In an official statement, Binance has announced the release of Binance Wealth, the first crypto exchange technological solution for wealth managers. Binance Wealth allows wealth managers to oversee the onboarding of their clients and make investment recommendations. It has already initiated the onboarding of clients and welcomes all Web2 fund managers to explore crypto opportunities. …
A former IRS special agent and Binance’s head of financial crime compliance, Tigran Gambaryan had been in Nigerian custody with reports of deteriorating health since February.
U.S. President Joe Biden called Bola Tinubu, the President of Nigeria, on Tuesday to personally thank him for the recent release of detained American Binance executive Tigran Gambaryan.
The service is offered through the global Binance.com platform meaning there are restrictions for some jurisdictions, such as the U.S.
The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
A crypto wallet owned by the US government might have been compromised and infiltrated by hackers, raising concerns about the security measures being implemented by the government on digital assets. The hacking incident could be a tell-tale sign of a lenient cybersecurity practice in handling government-controlled cryptocurrencies. It might indicate the need for the government […]
After spending eight months detained in the country, the Binance enployee was allowed to leave Kuje prison last night.
Chainlink is the leading middleware, linking on-chain dapps with external data securely. While the platform is critical in many crypto sectors, especially DeFi, LINK has recently struggled for momentum. LINK Holders Moving Tokens From Exchanges: Are They Accumulating? However, on-chain streams from IntoTheBlock reveal that more holders are moving tokens from top exchanges like Binance and Coinbase. In a post on X, the analytics platform observes that exchange flow over the past month has been negative, signaling sustained withdrawals. Related Reading: Bitcoin’s Quarterly Performance Hints At Possible Correction—Here’s What You Should Know Usually, whenever tokens are moved from exchanges, it could indicate that owners are confident of what lies ahead. Since LINK, the ERC-20 token, is supported by many DeFi protocols, it could suggest that holders are interested in engaging with these dapps, possibly earning passive income. The more transfers from centralized ramps, the higher the likelihood of prices expanding in tandem, which is a net positive for LINK bulls. According to Etherscan, Chainlink has a top supply of 1 billion LINK distributed to 721,996 unique addresses when writing on October 23. These holders have, in turn, moved LINK over 15.8 million times. A level deeper, onchain data reveals that Binance controls more than 4.2% of the total supply. LINK under their control exceeds $479 million at spot rates. Chainlink Building: Will Price Break Above $20? With IntoTheBlock data pointing to net outflows from exchanges, there is a chance that LINK will find support and resume the uptrend of the past few trading days. LINK has resistance at $12.3, and a double bar bear formation is printing out following the dip of early today. However, even if prices break higher, rejecting bears, bulls must decisively expand above the double top at around $13. The eventual spike will open the door for LINK bulls to create a solid base for a rally to $20. The pace of this growth depends on how top altcoins, including Ethereum, perform. If Ethereum prices recover, soaring above $3,000, it could reinvigorate DeFi and NFT demand, lifting LINK. Beyond this, price drivers will include the team’s progress. Yesterday, October 22, Chainlink Labs launched the Cross-Chain Interoperability Protocol (CCIP) Private Transactions. This feature enables data privacy without violating existing laws guarding cross-chain transactions. Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction The solution uses the middleware’s Blockchain Privacy Manager. This way, partner banks and other financial players can securely connect private chains with other ledgers whenever they share sensitive information. Feature image from DALLE, chart from TradingView
Nigeria's government has withdrawn the money laundering charges against Binance executive Tigran Gambaryan, local news outlet Punch reported first on Wednesday.
Italian Deputy Economy Minister Maurizio Leo announced today that Italy is considering raising the capital gains tax on Bitcoin (BTC) and other crypto assets from 26% to 42%. Italy Weighs Higher Bitcoin Capital Gains Tax At a news conference on October 16, 2024, Leo stated that the Giorgia Meloni administration is contemplating a significant increase in […]
Approaching the $600 psychological mark, the Binance Coin (BNB) price is nearing a crucial crossroads. The months-long resistance remains the key bearish level in the daily chart, keeping the bull run on hold. Will the recent bull cycle lead to a breakout rally to $800? Let’s find out in Coinpedia’s BNB price analysis. Binance Coin …
Approximately $58 million has been lost from a cybersecurity breach at the lending protocol, one expert said.
Cash-Margin denominated in bitcoin hits all-time high of 384k BTC ($25.5B)
Bitcoin’s recent price swings seem to have sparked a wave of uncertainty among retail and institutional investors as its Open Interest (OI) has witnessed a significant decline in light of several negative factors hindering the market, such as macroeconomic turbulence. Is Bitcoin Poised For A 2021-Style Performance? In a pessimistic development, the open interest in […]
Singaporean cryptocurrency exchange Fairdesk has unveiled plans to wind down its operations in the coming month. This move comes as a surprise, as there had been no prior indications of difficulties facing the platform. However, it aligns with a broader trend of exchanges shutting down amid increasingly strict crypto regulations imposed by national authorities. Related […]