Binance Delists These Trading Pairs Within the Scope of New Developments.
Binance includes #Bitcoin (BTC), #Ethereum (ETH), #BNB , #Solana (SOL), #XRP , Cardano (ADA), Chainlink (LINK), Polygon (MATIC), Litecoin (LTC), and Dogecoin (DOGE) until December 20. It plans to delist some important spot pairs, including.
Crypto exchange Binance announced that it will remove and halt trading of GBP spot pairs in its official announcement on December 22. The move comes amid growing challenges such as regulatory burden, increased scrutiny and loss of banking partners. Binance trades ADA/GBP, BNB/GBP, BTC/GBP, DOGE/GBP, ETH/GBP, GBP/USDT, LINK/GBP, LTC/GBP, MATIC/GBP, SOL/GBP and XRP/GBP as of 29 Dec 06 It will be removed as of :00.
In October, Binance stopped accepting new customers in the UK in compliance with new FCA regulations restricting promotions by offshore digital asset companies in the country. Moreover, GBP users encountered problems with withdrawals and deposits after Binance's UK banking partner terminated its operating agreement.
“To protect users and maintain a high-quality trading market, Binance periodically reviews all listed spot trading pairs. “The exchange may delist selected spot trading pairs due to multiple factors.”
While there may be some pullback in the crypto market, the removal of GBP spot pairs will not cause a correction in the crypto market. Most of the trading volumes come from stablecoins and USD pairs.
BTC price has been moving sideways in the last 24 hours ahead of important US PCE inflation data. Due to the decline in trading volumes, the price is currently trading below $44,000. Meanwhile, in the 24 hours BTC reached a low of $43,387 and a high of $44,367. Altcoins are trading relatively stronger than Bitcoin. But a Christmas rally is expected amid spot advertising for the Bitcoin ETF approval. $BTC $ETH $BNB
✅CZ facing justice. It's still sometimes hard to believe, but CZ is no longer the boss of the world's first cryptocurrency platform. No, he is now a simple litigant like the others. He faces charges of violating anti-money laundering laws. As such, he had to find an arrangement with the courts to determine whether or not he pleaded guilty to the facts with which he is accused. Yesterday a judge in Seattle finally made a decision and here it is.
🚨DOJ AND CHANGPENG ZHAO REACH AGREEMENT AND CZ WILL PLEAD GUILTY
✅Judge Richard Jones of Seattle, who represents the Western District of Washington State, therefore accepted that Changpeng Zhao would plead guilty in the proceedings against him before the US Department of Justice (DoJ). He had expressed this wish last month during the hearing which determined the amount of the financial sanction against his company and all that was missing was the judge's definitive response concerning his personal case.
✅As a reminder, CZ had also agreed to pay $50 million out of his own pocket, but above all, he had to resign from his position as CEO of Binance, which then created a shock wave in the cryptosphere. But in recent days, the former world number 1 in crypto has started posting messages again on social networks and he displays unfailing optimism.
✅It now remains to be seen whether he will be able to return to his family abroad or whether the United States will force him to stay on this side of the Atlantic while awaiting his trial. To be continued, on the Journal du Coin.
There is a saying in Chinese, "trouble doesn't travel alone". 祸不单行。
Well, I believe this 2nd trouble (my X account got temporarily suspended) is purely from the fact that I changed my profile name. It happened immediately after. The X bot detection algo needs some work, @User-x1337 . It doesn't detect all the bad bots, and wrongly targets the real humans. 🤷♂️😂
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Binance Futures Will Launch USDⓈ-M BEAMX Perpetual Contract With Up to 50x Leverage
Fellow Binancians, Binance Futures will launch the USDⓈ-M BEAMX perpetual contract at 2023-11-17 13:30 (UTC), with up to 50x leverage. More details on the USDⓈ-M BEAMX Perpetual Contract can be found in the table below: USDⓈ-M Perpetual ContractBEAMXUSDTLaunch Time 2023-11-17 13:30 (UTC) Underlying AssetBEAMSettlement AssetUSDTTick Size0.000001Capped Funding Rate+2.00% / -2.00%Funding Fee Settlement FrequencyEvery Four HoursMaximum Leverage50xTrading Hours24/7Multi-Assets ModeSupported Please note: Beam assumes the ticker BEAMX on Binance. This is different from the on-chain display. The maximum funding rate of the BEAMXUSDT Perpetual Contract at the time of launch is +2.00% / -2.00%.The funding fee settlement frequency is every four hours. TimeMax Funding Rate2023-11-17 16:00 (UTC)+2.00% / -2.00%2023-11-17 20:00 (UTC)+2.00% / -2.00%2023-11-18 00:00 (UTC)+2.00% / -2.00%2023-11-18 04:00 (UTC)+2.00% / -2.00%…… Based on market risk conditions, Binance may adjust the specifications of the BEAMXUSDT Perpetual Contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.Multi-Assets Mode allows users to trade the BEAMXUSDT Perpetual Contract across multiple margin assets, subject to the applicable haircuts. For example, when the Multi-Assets Mode is activated, users can use BTC as margin when trading the BEAMXUSDT Perpetual Contract. The BEAMXUSDT Perpetual Contract is subject to the terms of the Binance Terms of Use and the Binance Futures Service Agreement.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Further Information: Trading Rules of USDⓈ-M Futures ContractsLeverage and Margin of USDⓈ-M Futures Contracts Binance Futures Fee StructureHow to Select Trading PairsFunding Rate HistoryMark Price and Price IndexMulti-Assets Mode Thanks for your support! Binance Team 2023-11-17
US Spot Bitcoin ETF Has 90% Odds of Approval — Bloomberg Guru
What Happens If SEC Rejects BlackRock’s Bitcoin ETF? Read CoinChapter.com on Google News
YEREVAN (CoinChapter.com) — The US Securities and Exchange Commission (SEC), currently led by Gary Gensler, is notorious for its skepticism and opposition towards spot Bitcoin ETFs (Exchange-Traded Funds).
Anyone following the crypto industry has seen the SEC repeatedly reject applications for such products. Its most recent denial of VanEck’s attempt to launch a spot Bitcoin ETF is a good case in point.
The SEC has cited consumer protection as the basis for its continuous rejections. Because the Bitcoin market can be easily manipulated, an ETF that tracks its spot price can be risky.
Despite the stiff opposition, there is growing speculation and optimism about the potential approval of a Bitcoin spot ETF soon.
Spot Bitcoin ETF by January 2024 — Analyst
The deadline for approving a spot BTC ETF is fast approaching. As he indicated in his recent post on X, applications submitted by Hashdex and Franklin have a deadline of Nov. 17. Moreover, the Global X ETF application deadline is Nov. 21.
The first and second deadlines for some Bitcoin ETF applications are approaching. Credit: Bloomberg
Bloomberg analyst James Seyffart believes that the SEC will implement its delaying tactics but will eventually approve it.
“Okay, we’re nearing in on deadline dates for 3 spot Bitcoin ETF applications. I want to get ahead of it because there’s a pretty good chance we’ll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan. 10, 2024,”
he predicts.
Some of these positive speculations stem from the SEC’s recent decision not to contest Grayscale’s Bitcoin ETF lawsuit. Many have interpreted this decision as a sign that the SEC may be having a change of heart.
Bitcoin (BTC) hit $68,789 on Nov. 10, 2021. Approval of a spot Bitcoin ETF by Gensler’s team will significantly boost the token’s accessibility to investors. It could trigger a new all-time high in its price during the next bullish cycle.
The price of Bitcoin has surged over the past weeks. Credit: TradingView
Earlier, ARK Invest CEO Cathie Wood voiced her conviction in eventually approving a spot Bitcoin ETF. She believes an approval could take the cryptocurrency market cap from its current level to a $25 trillion opportunity by 2030.
Her company’s application for a Spot Bitcoin ETF is just one of a dozen that the SEC is currently reviewing. Others include BlackRock, Fidelity, Grayscale, and Wisdomtree.
In September, US Representatives Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel addressed a letter to Gensler demanding that he approves a Spot Bitcoin ETF. The letter also hinted at possible discrimination by the agency against the industry.
Will the SEC meet the growing demand and approve a spot BTF ETF by January 2024? Possibly. However, knowing Gensler, one shouldn’t be overly optimistic.
The post US Spot Bitcoin ETF Has 90% Odds of Approval — Bloomberg Guru appeared first on CoinChapter.