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A flurry of macro and crypto specific factors are expected to impact his week’s $1.9 billion Bitcoin options expiry. The upcoming $1.9 billion Bitcoin (BTC) monthly options expiry on Aug. 25 is key to defining whether the $26,000 support level will hold. One could pin the recent cryptocurrency market sell-off to the U.S. Securities Exchange Commission decision to delay the spot Bitcoin exchange-traded funds (ETF), but there’s also the macroeconomic perspective. If the U.S. Federal Reserve's efforts to curb inflation work, it's probable that the trend of a stronger U.S. dollar will persist. This was evident as the Dollar Strength Index (DXY), a measure of the dollar against other currencies, reached its highest level in 76 days by August 22. To prevent a potential loss of $380 million due to the monthly BTC options expiry , Bitcoin bulls must ensure Bitcoin's price trades above $27,000 by August 25. Bitcoin bears will benefit from the threat of harsh regulation Cryptocurr...

Zhao Acknowledges Vulnerabilities Exposed By Fireblocks The CEO of the Binance exchange responded on X (Twitter) to security concerns raised by a recent report from the cryptography research firm Fireblocks . The BitForge zero-day flaws were found in well-known multi-party computation (MPC) protocols like GG-18, GG-20, and Lindell17, which are regarded as the industry standard for wallet security, according to the research. advertisement More than 15 suppliers of digital asset wallets, blockchains, and open-source projects were using implementations with these vulnerabilities, according to the analysis of the Fireblocks research team. The flaws could have made it possible for attackers with privileged access to steal money from wallets; some attacks could have been carried out in a matter of seconds without the user or vendor’s knowledge. The BitForge vulnerabilities exposed by Fireblocks centered around flaws in GG18, GG20, and Lindell17 protocols. The e...

Binance has reportedly raised the minimum staking amounts of several cryptocurrencies, such as solana (SOL), polkadot (DOT), and cosmos (ATOM), for users wishing to stake in their earning products. Binance adjusts asset caps The Binance Earn products are a suite of offerings that allow token holders to earn passive income from their crypto assets. Some of them include Flexible Savings and Locked Savings. In the latter, a user can lock a token for a specific period. After this, they can withdraw their staked coins and rewards earned. You might also like: Binance engages former DOJ prosecutor to counter SEC allegations Binance raised the caps for locking assets for 120 days on several crypto assets. As such, to lock ATOM for 120 days, users must now lock a minimum of 1,000 ATOM, up from 30 ATOM. Meanwhile, SOL stakers must lock at least 500 SOL, which is an increase from 30 SOL. However, as a consequence, the annual percentage rates (APRs) associated with these p...

As CoinGape Media reported, the proposed agreement only allows Binance .US employees to access customer funds on the US-based crypto exchange. Binance Global officials will be restricted from having access to private keys of all wallets including cold and hot wallets, hardware and software, as well as Binance .US’s internal systems and controls within 14 days. advertisement Also Read: XRP Lawyer And Coinbase CLO Grewal Urge Court To Order US SEC Respond To Petition Federal Judge Signed Binance, Binance.US, and US SEC Proposed Deal According to the consent order signed by Judge Amy Berman Jackson, Binance must “repatriate” all fiat currency and crypto assets related to Binance .US on or before the date the court issues this order. “Stipulating Defendants shall repatriate to the United States, transfer to BAM Trading, and confirm that BAM Trading maintains possession, custody and control in the United States of all fiat currency and crypt...

Also Read: Binance Looks To Deregister As Crypto Service Provider In Cyprus advertisement Binance SEC To Settle On Freezing Funds? As per the court proceeding, the federal judge asked to enter a mediation hearing that will eventually allow the biggest crypto exchange’s US affiliate to manage its basic operations. John Reed Stark, Former Chief of the SEC Office of Internet Enforcement addressed an argument made by the Judge in the Binance lawsuit. It indicated a skepticism in the commission’s approach towards the crypto industry with alleged forced enforcement. From the recent Binance SEC case hearing, he derived that the parties will likely form an agreement during the mediation process with the magistrate judge. However, the federal judge might come in to decide the size of “ordinary business expenses” and other issues in the matter. Recommended Articles ...

US district judge Amy Berman has asked the Securities and Exchange Commission (SEC) to reach a compromise agree ment with Binance.US on the best possible way to protect users’ funds on the platform instead of completely freezing the company’s asset s as requested by the watchdog. As part of its June 5 enforcement action against Binance, the world’s flagship crypto exchange, the SEC filed an emergency motion for a restraining order against Binance.US, asking a Washington D.C. federal court to freeze the entire assets of the latter. Binance.US filed a response opposing an SEC’s proposed restraining order to freeze its assets, labeling it as “draconian and unduly burdensome.” In the suit, Binance.US argued that freezing its assets would victimize its US customers and make it impossible for the company to continue operating normally. You might also like: Binance.US counters SEC’s motion to freeze funds as it threatens its business In the latest development, U.S. Dis...

The SEC lawsuit against Binance led to an outflow of over $700 million worth of assets on Ethereum in the past 24 hours with outflows from the exchange still dominating inflows. The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange. According to data shared by crypto analytic firm Nansen, Binance saw a negative netflow of $778 million on the Ethereum blockchain , where $871 million worth of assets inflowed onto the exchange while $1.6 billion worth of assets went out of the exchange. Even in the first 24 hours following the SEC lawsuit, Ethereum-based tokens have seen a negative netflow, where in the past hour, $14.8 million worth of assets flowed in, and $50.5 million worth of assets went out of the exchange. Binance netflow on Ethereum. Source: Nansen Binance’s reserve assets had a net outflow of approximately $1.4 billion within the f...

In February, Binance Australia Derivatives abruptly closed certain derivatives positions and accounts, citing investor classification compliance. The Australian Securities and Investments Commission (ASIC) has canceled the license of Binance Australia Derivatives after a targeted review of Binance’s operations in the country. “ASIC has today canceled the Australian financial services license held by Oztures Trading Pty Ltd trading as Binance Australia Derivatives,” the securities regulator stated in the official announcement on April 6. Following the license cancellation, Binance Australia Derivatives clients will not be able to increase derivatives positions or open new positions with the platform from April 14. The company will also require users to close any existing derivatives positions before April 21, as Binance is expected to close any remaining open positions on that day. “The terms of the cancellation include a provision that the cancellation has no effect on the requirement...

The crypto industry has witnessed the arrival of a plethora of assets over the years. However, most failed to get on par with prominent crypto like Bitcoin [BTC] or Ethereum [ETH]. A meme coin, Shiba Inu [SHIB] changed this narrative as its popularity witnessed immense growth. Despite encountering a major drop in value this year, its popularity kept the asset afloat. The world’s largest crypto exchange, Binance shared a tweet highlighting the most- watched crypto in 2022. It did not come as a surprise that BTC and ETH were on the list. But, Shiba Inu’s presence did shock quite a few. The Shib Army, however, was ecstatic. We present to you the most watched crypto assets in #2022withBinance 🤝 Which crypto currencies were you watching? pic.twitter.com/6RGXdVm59Y — Binance (@binance) December 18, 2022 2022 has clearly been quite significant for Shiba Inu. From rolling out a SHIB-themed restaurant to its very own video game, the network made qu...

While the delisting didn't concern many due to its inactivity, others questioned the focus on price for delisting as it may prompt projects to artificially pump the price. A decentralized social network project called Mithril (MITH) was recently delisted from Binance and in return, the crypto project asked for the 200,000 Binance Coin (BNB) it had to deposit as insurance for listing on the exchange. Binance CEO Changpeng Zhao aka CZ responded to MITH’s demand on Twitter with a screenshot of their contract that suggests if the listed token price falls below a certain threshold, the exchange has the right to deduct the insurance fund partially or fully as an additional fee. CZ said that the said project’s token price fell below the trigger threshold on multiple occasions and after looking at the project, it hasn’t updated the community for almost 2 years. CZ claimed that the “team has made the right decision and acted fully within our right to do so.” Your token price is way belo...