Tag: Binance

[Third Update] SEC to Infrawatch: Binance is Not Registered, Cautions Public Not to Invest, Binance Says Infrawatch Complaint is Misleading

Posted on By Michael Mislos

[Breaking News] The SEC sent a response letter to Infrawatch, stating that Binance is not registered in the Philippines and cautions the public not to invest with the exchange.

The post [Third Update] SEC to Infrawatch: Binance is Not Registered, Cautions Public Not to Invest, Binance Says Infrawatch Complaint is Misleading appeared first on BitPinas.

Digital Currency, News

Trade Republic, Crypto.com Register as Cryptocurrency Operators in Italy

Posted on By Lubomir Tassev

Trade Republic, Crypto.com Register as Cryptocurrency Operators in ItalyGerman investment platform Trade Republic and digital asset exchange Crypto.com have registered as crypto service providers in Italy. Since February, the financial authorities in Rome maintain a registry for all cryptocurrency platforms permanently operating in the country. More Companies Register as Providers of Crypto Services in Italy Germany-based investment platform Trade Republic and Singapore-headquartered digital […]

Digital Currency, News

Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing ‘Very Serious’ Violations

Posted on By Kevin Helms

Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing 'Very Serious' ViolationsThe Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), […]

Digital Currency, News

Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’

Posted on By Jamie Redman

Opensea Cuts 20% of the NFT Market's Staff Citing 'Crypto Winter' and 'Macroeconomic Instability'The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the […]

Digital Currency, News

Binance CEO Anticipates Inflation To Grow By 500%

Posted on By Sarah

The current US inflation data has thrown a great tantrum and panic within several market sectors. Different expectations and reactions are surfacing following reports of the inflation data. It seems to be a fact that even the crypto space now receives impacts from inflations and other macroeconomic factors. With reports from the US Bureau of Labor Statistics, different markets are loaded with diverse opinions. However, according to the released data, there’s been an increase of 9.1% in the consumer price index since June last year. This value is more than predictions from some analysts. Related Reading | A Breakout Above This Level Could Help Polkadot Recover On Chart However, Binance CEO Changpeng Zhao (CZ) seems to have a contrary idea concerning the released inflation data. According to CZ Binance, the 9.1% inflation is a magically low value concerning some surrounding events. Changpeng Zhao stated that the USD supply increased by 80%, equivalent to 5 times its original supply, through more minting of the note. Hence, the inflation value is expected to amount to about 500%. In CZ’s terms, such calculation should depend entirely on the rise in money supply over a given period. Twitterati swiftly offered a corrective response to Changpeng Zhao’s indications for inflation data. In further explanation, inflation calculations should consider different demand and supply factors. Also, it should consider the money supply remains within a given period. Several Markets Plunge With High Inflation Data With the release of the inflation data, Bitcoin experienced a dip in value as it fell below $19,000 in just a few minutes. Unfortunately, BTC was not alone in its downward movement. Other conventional stocks such as S&P 500, Nasdaq, and Dow Jones plummeted with the resulting high inflation data. The broader crypto market has been tossed about considerably as inflation keeps increasing with the year. The impacts create massive instability in the market value through the first half of 2022. Subsequently, the market plunged by over 70% since the beginning of the year, with several threats of insolvency to many firms. Before it announced the inflation data, predictions from market consensus expected 8.8% for June’s CPI. The predicted value was 0.3% lower than the US Bureau of Labor Statistics report. More prominent personalities in the crypto space have also been reacting to the high inflation rate. These include Michael Saylor, Tyler and Cameron Winklevoss. In their opinion, the high value has advanced the current situation of BTC and even the broader crypto adoption. As the inflation rate flag red alerts, it indicates a sharp rise in interest rates by the Federal Reserve. Such a trend is a big minus for the entire cryptocurrency ecosystem. Related Reading | Avalanche Notches Solid Mid-Week Bounce – Can AVAX Sustain The Positive Noise? Bitcoin fared very poorly with an increase in lending rates. Its poor performance brought the crypto market low as well. Featured image from Flickr, chart from Tradingview.com

Digital Currency, News

Despite the Price Drop, Number of Bitcoin Held on Exchanges Continues to Slide

Posted on By Jamie Redman

Roughly 49 days ago, the number of bitcoin held on exchange was around 2.503 million, according to statistics recorded by cryptoquant.com. Since then, $4.76 billion worth of bitcoin has been removed from centralized crypto exchanges, as there’s 2.275 million held on trading platforms today. Glassnode reported on July 5, that despite bitcoin’s “weak price-action through […]

Digital Currency, News