Bitcoin Stumbles as ‘Uptober’ Kicks Off With a Slump

October 1, 2024 Bitcoin.com

Bitcoin

Bitcoin stumbled on Tuesday, casting a shadow over the much-anticipated ‘Uptober.’ Around 11 a.m. EDT, prices dipped to an intraday low of $61,801 on Bitstamp. Bitcoin Sinks, $289 Million in Longs Liquidated Across Crypto Markets Over the past 24 hours, bitcoin (BTC) slid 1.8%, and by 12:15 p.m. EDT, it hovered at $62,600 per unit, […]

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Bybit Expands in CIS Region With Kazakhstan License for Crypto Services

September 28, 2024 Bitcoin.com

AFSA

Crypto exchange Bybit has secured a major license in Kazakhstan, marking its expansion in the Commonwealth of Independent States (CIS) region. With its new regulatory approval, Bybit plans to offer a broad range of services including digital asset trading and crypto loans, while emphasizing Kazakhstan’s growing influence in the global crypto ecosystem. Bybit Secures Key […]

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Bitcoin Taps $63K After Fed Rate Cut Sparks Market Rally

September 19, 2024 Bitcoin.com

Bitcoin

Bitcoin reached an intraday peak of $63,227 on Thursday, following the U.S. Federal Reserve’s decision to lower the benchmark interest rate by 50 basis points the previous day. The entire cryptocurrency market has gained over 5%, and in the past 24 hours, global trading volume jumped by 26.92%. Crypto Market Surges 5%, Stocks Rise, Gold […]

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Crypto liquidations may be way worse than data has let on, suggest researchers

September 2, 2024 Coin Telegraph

Binance

“Liquidation data from exchanges are bogus and a vast underrepresentation of actual liquidation volumes in the market,” according to K33 Research.

The amount and scale of crypto market liquidations could be much worse than data from major exchanges suggest, according to a researcher.

On Aug. 29, K33 Research senior analyst Vetle Lunde reported that major cryptocurrency exchanges such as Binance, Bybit, and OKX had significantly altered their reporting of liquidation data since 2021.

These alterations meant that exchanges recorded one liquidation per second instead of reporting all liquidations.

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Bitcoin Blasts to $64,853—Powell’s Rate Cut Hints Lift Entire Crypto Market

August 23, 2024 Bitcoin.com

Bitcoin

Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which […]

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US regulator fines crypto fund $150K for illicit Bitcoin loan

August 20, 2024 Coin Telegraph

Bitcoin

It’s part of the fallout from the industry-wide liquidity crunch triggered by FTX in 2022.

Cryptocurrency fund lkigai Strategic Partners agreed to pay the National Futures Association (NFA) in the United States a $150,000 fine for an allegedly illicit Bitcoin (BTC) loan, according to an Aug. 20 decision by an NFA hearing panel.

The action is part of the ongoing fallout from the industry-wide liquidity crisis following crypto exchange FTX’s collapse in 2022. It is also the latest instance of NFA — which helps regulate the United States derivatives market — policing activities in the spot cryptocurrency markets.

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Binance Pays $1.75 Million to Settle Irregular Derivatives Offering Procedure in Brazil

August 16, 2024 Bitcoin.com

Binance

Binance, one of the largest cryptocurrency exchanges in the world, has settled an administrative procedure with the CVM, the securities regulator of Brazil. The exchange proposed to pay 9.6 million Brazilian reais (approximately $1.75 million) to resolve a case involving the irregular offering of derivatives, including futures contracts and options, dating back to 2022. Binance […]

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DeFi market stages a comeback as derivatives surge

August 16, 2024 Coin Telegraph

Coin Telegraph

Onchain derivatives fuel DeFi’s resurgence, with daily volumes reaching $5 billion amid rising competition.

Following a relatively modest 2023, the decentralized finance (DeFi) market experienced a remarkable resurgence during the first half of 2024.

As of Aug. 16, the total value locked (TVL) within the ecosystem stands at $82.67 billion, up from $54.4 billion at the beginning of the year — representing a robust growth of 51.9%.

One of the primary drivers behind this substantial uptick has been the growing adoption of onchain derivatives. In fact, since the beginning of the year, the average daily trading volume for crypto derivatives has skyrocketed from $1.8 billion in 2023 to $5 billion.

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Binance reaches $1.7M agreement with Brazilian securities regulator

August 14, 2024 Coin Telegraph

Binance

Brazil’s CVM issued a warning to the crypto exchange in 2020 that it was offering residents derivatives products without authorization.

Cryptocurrency exchange Binance reached an agreement with Brazil’s Securities and Exchange Commission (CVM) over offering derivatives products.

In an Aug. 14 notice, the CVM said Binance agreed to pay 9.6 million reais — roughly $1.7 million at the time of publication — to the securities regulator. The CVM issued a warning to Binance in 2020 that the exchange was offering Brazilian residents derivatives products without authorization.

“Since the regulator’s first communication to Binance in 2020, the exchange has taken all necessary measures and actions to respond to the authority and comply with local requirements,” said Binance in a translated statement to Cointelegraph Brazil. “The CVM board’s decision to accept the proposed Term Sheet reaffirms that the adjustments and updates made by Binance over time are sufficient for the regulator.”

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Crypto.com Opposes Proposed US Ban on Prediction Markets and Event Contracts

August 11, 2024 Bitcoin.com

bitcoin.com

Crypto.com Senior Vice President Steve Humenik has joined Coinbase by voicing opposition to a proposed rule change by the Commodity Futures Trading Commission (CFTC) that could lead to the prohibition of prediction markets in the United States. In a letter to the CFTC, Humenik expressed concerns about the implications of the proposed regulation, urging the […]

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