Binance Financial News

As part of its monthly routine, cryptocurrency exchange Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder disclosed. The 1 April action saw the exchange, which committed to the LUNC community proposal last year, burn over 1.6 billion LUNC.

Just five days after Binance and its CEO Changpeng ‘CZ’ Zhao got sued by the United States Commodity Futures Trading Commission (CFTC) for alleged trading violations, a new $1 billion lawsuit was filed against the crypto exchange, CZ, and three crypto influencers for promoting unregistered securities.

While stablecoins were designed to maintain a stable value, recent months have demonstrated that they are not impervious to the volatile swings in the cryptocurrency market. Furthermore, their close association with the fluctuations in Bitcoin’s [BTC] value has become increasingly evident over time.

As the cryptocurrency market continues to experience significant volatility, all eyes are on Bitcoin (BTC), the original digital asset, to determine its potential trajectory. 

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators. 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

In a bold move, Binance [BNB] CEO Chanpeng Zhao shared a comparison of Binance.US’s trading volume with that of Coinbase on 31 March, showcasing an impressive surge in activity for the former. With such a significant uptick in trading volume, one might wonder if this newfound confidence has also extended to the BNB coin.

cryptocurrency market experienced a significant surge, with Bitcoin leading the charge and gaining over 30%. The rally can be attributed to several factors, including a massive short squeeze, a billion-dollar buy by Binance, the Fed's response to the banking crisis, and news on Ethereum's upcoming update. Over $300 million in leveraged BTC short positions were liquidated, resulting in over $300 million in buying pressure for BTC. This is a substantial amount during a bear market when it doesn't take nearly as much money to move prices up or down. The rally was also helped by the fact that Binance turned $1 billion worth of BUSD into BTC, ETH, BNB, and other unnamed cryptocurrencies. Another factor is the official announcement of the Ethereum Shanghai hard fork update date (April 12), which will allow users to withdraw their staked ETH and is expected to stimulate Ethereum market demand. Institutional investors are expected to find ETH more appealing because they love yield, and the ability to earn a yield on what is effectively the next network for payments is an attractive prospect. It is believed that many institutions were hesitant to stake ETH because it wasn't possible to unstake, but this will change with Shanghai, and millions, if not billions, of dollars could flow into ETH in the days and weeks that follow. BTC is also considered sensitive to changes in money supply, and as such, many have argued that the increase in the size of the Fed's balance sheet is the key driver of the rally.

In the world of cryptocurrency, investors are always on the lookout for the next big thing. While Bitcoin has been the dominant player in the market for years, there is always speculation around its price movements. The technical analysis predicts that BTC will dip below $25,000 before bouncing back up. 

Bittrex, an exchange that claims it offer the “widest selection of cryptocurrencies in the U.S.” and marked its ninth birthday last month, said it would end its U.S operations, saying it can't operate amid a rising tide of regulatory scrutiny.

Regulators in the United States have a fresh target on their radar: Binance. The Commodity Futures Trading Commission (CFTC) has sued the world’s biggest crypto exchange by trading volume for regulatory violations. Accusations range from insider trading to concealing office locations around the world to evade authorities’ oversight. 

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Binance’s [BNB] United States-based subsidiary, Binance.US, temporarily suspended Binance USD [BUSD] stablecoin pairs via One Common Billing System (OCBS) as the Commodity Futures Trading Commission (CFTC) investigated the exchange for alleged violations.

Tech entrepreneur Vinny Lingham appeared in an interview with Jason Calacanis on 30 March, where he spoke about the future of cryptocurrency and Bitcoin [BTC] in the U.S. amidst regulatory actions against Coinbase [BASE] and Binance [BNB].

Amid the ongoing uncertainty around the global banking turmoil, Binance’s United States-based arm Binance.US is halting some services.

Binance has been accused by the Commodity Futures Trading Commission (CFTC) of allowing trading firms based in the US to trade crypto derivatives on Binance’s international exchange.

Bitcoin (BTC) is back below $28,000 as the countdown to the monthly close keeps everyone on their toes.

Hedera [HBAR] , the decentralized enterprise-grade public network got an opportunity to discuss the idea behind its project at a U.S. Department of state meeting.

On 30 March, Binance [BNB], the largest crypto exchange in the world, announced the listing of RDNT. The latter is the native token for an upcoming multi-chain DeFi platform Radiant Capital.

The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella.