The US Commodity Futures Trading Commission (CFTC) has reached a settlement with CZ Zhao and Binance, resulting in payments of $150 million and $2.7 billion, respectively. The court found that both parties violated the Commodity Exchange Act and CFTC regulations, with CZ resigning as CEO of Binance as part of the settlement. Binance will establish a formal corporate governance structure, while CZ faces potential jail time for money laundering charges.
about CFTC Settles with Binance and Former CEO for $2.85 Billion in Landmark Crypto CaseCryptocurrency Exchanges
1 in Finance and 0 in Crypto last week
ARK Invest Continues to Sell Grayscale Bitcoin Trust Shares, Increases Holdings in Block
ARK Invest has sold a significant amount of Grayscale Bitcoin Trust (GBTC) shares, reducing its exposure to the asset. At the same time, the company has been accumulating shares of Block, a financial payment processor. GBTC currently ranks as the third largest asset in ARK’s portfolio, while Block is edging closer to GBTC in terms of weight.
about ARK Invest Continues to Sell Grayscale Bitcoin Trust Shares, Increases Holdings in BlockBitcoin ETF Applicants Shift to Cash Redemption Model to Comply with SEC Regulations
Major applicants for a spot Bitcoin ETF in the United States, including BlackRock and ARK Invest, are amending their filings to comply with the cash redemption model required by securities regulators. The SEC’s “cash-only” requirement means that authorized participants will only be able to obtain more shares of the ETF by bringing cash to the table, rather than non-monetary payments like BTC. This move indicates that the debate over in-kind redemptions is over and suggests a potential approval for spot Bitcoin ETFs in January.
about Bitcoin ETF Applicants Shift to Cash Redemption Model to Comply with SEC RegulationsUniswap’s Trading Volume Surpasses $1.7 Trillion, UNI Coin Price Analysis
Uniswap, a decentralized finance (DeFi) protocol, has achieved a remarkable trading volume of over $1.7 trillion. Despite a dip in Total Value Locked (TVL) in October, Uniswap’s TVL has now surpassed $4 billion, making it an increasingly important platform in the growing DeFi market. The price of UNI Coin currently stands at $6.15, with key support at $6, and potential advancements if Bitcoin rebounds.
about Uniswap's Trading Volume Surpasses $1.7 Trillion, UNI Coin Price AnalysisBinance Settles with CFTC for $2.7 Billion, Bitcoin Market Shows Bullish Trend
Binance and its former CEO, Changpeng Zhao, have agreed to pay a total of $2.7 billion in a settlement with the CFTC for violating the Commodity Exchange Act. Meanwhile, the Bitcoin market is showing signs of an upward trend, potentially reaching $45,000, driven by BlackRock’s recent ETF filing.
about Binance Settles with CFTC for $2.7 Billion, Bitcoin Market Shows Bullish TrendBitcoin Mining Companies Outperform Bitcoin in Year-to-Date Returns, Reveals Matrixport Report
Bitcoin mining companies and other digital asset firms have outperformed Bitcoin in terms of year-to-date returns, with a 266% return compared to Bitcoin’s 150% growth. The surge in transaction fees has increased revenues for Bitcoin mining companies, and Solana has outperformed most Layer1 and Layer2 tokens in the crypto market. Matrixport projects a bullish outlook for Bitcoin, with a price projection of $63,140 by April 2024 and $125,000 by year-end.
about Bitcoin Mining Companies Outperform Bitcoin in Year-to-Date Returns, Reveals Matrixport ReportEffortless and Secure: Stoic Trading Bot Simplifies Automated Crypto Trading
Stoic Trading Bot is a secure and convenient automated crypto trading platform that manages users’ crypto portfolios on Binance. With its hedge fund quant strategies, daily rebalancing, and access to quantitative research, users can stay updated on market trends and events in the crypto industry.
about Effortless and Secure: Stoic Trading Bot Simplifies Automated Crypto TradingCoinbase Appeals SEC’s Denial of Cryptocurrency Rulemaking Petition
Coinbase has appealed the United States Securities and Exchange Commission’s (SEC) denial of its petition for rulemaking on cryptocurrency. The crypto exchange argues that the SEC’s denial was arbitrary and capricious, and that the agency’s regulation by enforcement exceeds its statutory authority. The SEC has been ordered to file the record of its decision by January 24, 2024.
about Coinbase Appeals SEC's Denial of Cryptocurrency Rulemaking PetitionBonk Inu (BONK) Gains Momentum, Poised to Challenge Shiba Inu as Top Meme Coin
Bonk Inu (BONK) has gained attention in the cryptocurrency market, with BitMEX co-founder Arthur Hayes praising its valuation and suggesting it could surpass Shiba Inu. BONK’s recent surge in price, association with Solana, and listings on major exchanges like Binance and Coinbase have contributed to its growth. While BONK’s market cap currently stands at around $1.2 billion compared to SHIB’s nearly $6 billion, there is potential for BONK to flip SHIB if it can build a strong community and maintain hype.
about Bonk Inu (BONK) Gains Momentum, Poised to Challenge Shiba Inu as Top Meme CoinBONK Coin Skyrockets in Value, Boosts Solana Ecosystem
BONK Coin’s value has surged 89-fold in the last 42 days, making it an attractive long-term investment. The coin’s success has also had a positive impact on the Solana ecosystem, boosting the price of SOL Coin. However, as with all meme coins, BONK’s future trajectory remains unpredictable due to the volatile nature of such currencies.
about BONK Coin Skyrockets in Value, Boosts Solana Ecosystem