Binance Financial News

Attorneys for Binance.US and Binance CEO Changpeng Zhao argued that the US Securities and Exchange Commission’s temporary restraining order to freeze its assets should be denied. 

United States-based crypto exchange Binance.US has reportedly hired a former enforcement official from the Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating as an unregistered securities exchange.

The US SEC has been actively examining the operations of digital asset exchanges, raising concerns about investor protection and market integrity. 

Terra Luna Classic (LUNC) bulls are fighting back against building sell pressure on Monday, with the cryptocurrency last up around 1.5% on the day in the $0.000089 area and up close to 15% from the fresh yearly lows printed over the weekend in the $0.000077 area.

Many US-based crypto firms have been keen on expansion moves amid heightened regulatory uncertainty in the United States.

Binance.US has bulked up its legal expertise and added four lawyers to fight recent charges from the US Securities and Exchange Commission. 

LONDON — Andreessen Horowitz is opening its first office outside of the U.S. in London, the venture capital firm announced Monday.

The crypto market took a huge hit last week, largely due to the lawsuits that the United States Securities and Exchange Commission (SEC) filed against crypto giants Binance and Coinbase. This caused the market to lose billions in market cap, and it’s unclear how the events will unfold and what further impact they will have. Most coins are in the red, with a select few being only slightly affected.

A bearish trend formation has been pressuring cryptocurrency prices for the past eight weeks, driving the total market capitalization to its lowest level in more than two months at $1.06 trillion, a 2.4% decline between June 4 and June 11.

In the aftermath of the US Securities and Exchange Commission’s crackdown on major crypto exchanges Binance and Coinbase, Latin America’s crypto holders have reacted to this development with a surge of new accounts registered with Bitget, a crypto derivatives exchanges. 

Binance said it was halting dollar deposits, while trading platform Robinhood Markets said it was delisting some crypto tokens, after the U.S. securities regulator stepped up its crackdown on the crypto sector. Binance.US, the purportedly independent partner of Binance, said in a tweet on Thursday that its banking partners were preparing to stop dollar withdrawal channels as early as June 13, after the U.S. Securities and Exchange Commission asked a court to freeze its assets. Customers have until Tuesday to withdraw their funds. The development is the latest blow for the world's largest cryptocurrency exchange and raises questions about whether its U.S. operation can survive the SEC lawsuit, which alleges Binance manipulated its trading volumes and comingled customer assets, among other civil charges that it denies. «This is very serious for Binance.US,» said Clara Medalie, director of research at Kaiko, a digital asset data provider.

The price of Cardano (ADA) has risen by 8% in the past 24 hours, with its jump to $0.282965 providing a partial correction to its steep fall over the weekend.

The XRP price has risen by 1% in the past 24 hours, recovering to $0.516186 after a weekend in which the exit of market makers from Binance caused altcoin prices to fall by more than 25%.

Cardano (ADA) bounced modestly after losing nearly 30% of its valuation in the previous week, its worst seven-day performance since May 2021, when the Terra collapse sparked a cryotocurrency market crash.

Bitcoin and Ethereum, the dynamic duo of the cryptocurrency world, have recently hit turbulent waters as a wave of risk-averse sentiment swept through the market, triggering a substantial 7% sell-off in the last seven days. 

While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears. 

Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67.

Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

Binance, the world's largest cryptocurrency exchange by trading volume, has been ordered to cease operations in Nigeria by the country's Securities and Exchange Commission (SEC). 

The Las Angeles-based sports and entertainment arena, Crypto.com Arena, will be keeping its name despite the cryptocurrency exchange’s decision to shut down its institutional exchanges in the United States.

Crypto exchange Bitget has seen a surge in new accounts in Latin America following lawsuits by United States regulators against major competitors Binance and Coinbase.