Crypto Morning Briefing: Voyager Redeems $150M of USDC to Fiat Through Circle
OpenSea Teases April Integration of Solana NFTs; Russia Delays CBDC Pilot To Await New Law; Crypto Twitter, CEO “CZ” Refute China-Binance Link After US CFTC Suit
Potential Impact of CFTC’s Lawsuit on Binance.US Users
Binance, one of the largest centralized cryptocurrency exchanges globally, has around 0.67 million users in the US as of February 2023.
Binance Sees $627 Million in Net Ethereum Outflow Following CFTC Lawsuit
Binance saw about $627 million in net Ethereum-related withdrawals in the 24 hours through Tuesday morning, following the Monday lawsuit filed by the Commodities Futures Trading Commission against the world’s largest cryptocurrency exchange for alleged violations of derivatives rules. Binance held about $64 billion worth of assets in publicly disclosed wallets as of Wednesday morning, according to Nansen data. For the seven days through Tuesday morning, the data showed Binance had $2.1 billion in net withdrawals of Ether and Ethereum-related assets. However, the withdrawals are significantly lower than what the exchange experienced in December when daily outflows at one stage surged to $3 billion following the collapse of the FTX exchange amid fraud allegations. Binance also saw $2.3 billion in stablecoin outflows on Feb. 13 after the New York Department of Financial Services ordered Paxos to stop issuing Binance USD (BUSD) stablecoin. (forkast)
U.S. CFTC Chief Behnam Reinforces View of Ether as Commodity
U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam reiterated Tuesday at a congressional hearing he believes ether is a commodity – a potentially controversial assertion that differs from what his counterpart at the Securities and Exchange Commission (SEC) has said.
CFTC Lawsuit Against Binance Unlikely to Derail Voyager's Bankruptcy Deal
The recent lawsuit filed by the Commodity Futures Trading Commission (CFTC) against Binance did not significantly affect Voyager's ongoing bankruptcy case, according to legal experts. The CFTC accused Binance of breaking trading and derivatives rules by allowing US customers to trade derivatives illegally. Binance US is in the process of acquiring Voyager's assets. As Voyager is not involved in derivatives trading, the lawsuit may not be applicable to the deal.
Former CFTC Chairman: Regulator's Lawsuit Against Binance 'Is a Big Deal'
The Commodity Futures Trading Commission (CFTC) lawsuit against Binance, the largest crypto exchange by trading volume, is, in Timothy Massad’s words, a “big deal.”
Bitcoin Price Holds Its Ground in the Wake of CFTC Case Against Binance
The price of Bitcoin has held its ground in the wake of a case filed by the US Commodity Futures Trading Commission (CFTC) against Binance, one of the world's largest cryptocurrency exchanges. The lawsuit alleges that Binance engaged in illegal trades on its platform and seeks damages and other relief.
Banks Keep Purging, Bitcoin Takes a Breath After CFTC Complaint Against Binance
What Market Phase are we entering into has been the introductory question for our last appointments. Are we going to listen to the Bulls or the Bears? Are we going to see a Bull Market or a Bear Market?
Binance Outflows Near $1 Billion Following CFTC Allegations
The global digital asset market printed red indexes on Tuesday as Commodity Futures Trading Commission (CFTC) alleged Binance, the world’s largest crypto exchange for violating trading rules. The fear among the investors has triggered a massive outflow from Binance over the past day.
Crypto Evening Briefing: China To Upgrade National Blockchain Standards by 2025
The Chinese government has been proactively pursuing advancements in its blockchain sector and aims to upgrade its industry development standards by 2025.
