Tag: Binance

BNB Price Crash To $5 Unlikely Despite Binance Critic’s Dire Predictions

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A Binance critic, “Whale Wire,” on X, who also claims to be a crypto whale, has issued a bold prediction that BNB, the native currency of the BNB Chain and which is used to incentivize trading activity on Binance, could plunge 95% to under $5 in the coming months.  Regarding Binance agreeing to pay $4 billion in fines related to legal settlements with U.S. regulators, Whale Wire argued that tighter oversight will supposedly “destroy Binance’s entire business model.” He further contended bankruptcy could be imminent as the effects of the BNB lead…

JPMorgan sees Binance settlement as positive development for crypto industry 

JPMorgan analysts believe that Binance’s $4.3 billion settlement stabilizes the crypto market and mitigates systemic risk. JPMorgan (JPM) has hailed Binance’s recent settlement with the U.S. Department of Justice (DOJ) as a ‘positive step’ for the crypto sector. Analysts at the firm believe it will be a beneficial step for both Binance and the wider cryptocurrency market, as revealed to the Block.  The resolution of these legal issues is seen as particularly advantageous for Binance’s operations and its BNB Smart Chain business. JPMorgan’s analysts emphasize that the settlement brings much-needed…

Bitcoin derivatives traders target $40K BTC price now that Binance is resolved

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The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) trades near $37,000 on Nov. 22, which is essentially flat from three days prior. Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States Authorities for violating laws involving money laundering and terror financing. Bearish news has had limited impact on Bitcoin price One might argue that entities have been manipulating Bitcoin’s price to avoid contagion, possibly involving the issuing…

Binance Settlement With U.S. Department of Justice Could Put an End to (BNB) Death-Spiral Fears

Rajeev Bamra, head of DeFi and digital-assets strategy at Moody’s Investors Service, praised Teng’s extensive regulatory background and experience, in an emailed statement from the credit-rating firm. Teng’s stepping in as the new leader of the exchange could provide an opportunity to move beyond regulatory concerns and “chart a path towards stability and a fresh beginning,” according to Bamra. Source

Bitcoin (BTC) Price and Crypto Prices Turn Higher After Binance and CZ Deals

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Stepping away from the headlines, a number of observers have noted that the Binance settlement in essence may have cleared the decks for the U.S. Securities and Exchange Commission (SEC) to finally approve a spot bitcoin ETF. The neutering of Binance and exit of CZ, they said, might have eased the agency’s concerns regarding overseas manipulation of bitcoin prices. Original

Binance CEO CZ’s downfall is ‘the end of an era’ — Charles Hoskinson

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In a Nov. 22 YouTube video, Cardano founder Charles Hoskinson reflected on the news that Binance CEO Changpeng “CZ” Zhao had stepped down from the exchange. Hoskinson claimed that the event represented “the end of an era.” He argued that entrepreneurs will need to comply with regulations or else develop completely permissionless protocols that can’t be regulated. The End of an Era https://t.co/d3AcHWu66C — Charles Hoskinson (@IOHK_Charles) November 22, 2023 In the video, Hoskinson claimed that CZ was “part of a class of entrepreneurs in the cryptocurrency space who really…

Binance New CEO Affirms Strength In Company’s Fundamentals

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The world’s leading cryptocurrency exchange Binance new Chief Executive Officer (CEO) and former global head of regional markets Richard Teng has recently expressed his confidence in the crypto company’s fundamentals. Binance Fundamentals Shows Strength Amid Challenges, New CEO Earlier today, the new Binance CEO confidently revealed the fundamental strength of the crypto company despite recent challenges. The CEO took to his official X (formerly Twitter) handle to share his belief in the company. According to Teng, the fundamentals of the company’s business are still solid.  Related Reading: Bitcoin Price Plunge…

Panic At Binance Following CZ’s Departure? Analyzing 24-Hour Inflow and Outflow Trends

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A new era for the crypto industry approaches as the world’s largest exchange, Binance, changes leadership. Yesterday, the company’s founder and CEO, Changpeng “CZ” Zhao, stepped down as part of an agreement with the US government. The deal might have sparked a new era of adoption and legitimacy for the nascent industry at the cost of CZ’s position and a $4 billion fine. Fresh data looked into Binance’s transactions to check if users believe in the company’s future following the historic decision. BNB’s price trends to the downside on the…

Ripple making connections amid Binance turmoil

The crypto analyst behind the JWK Show YouTube channel posted a video on Nov. 22nd highlighting recent allegations against crypto exchange Binance. He speculated that this could trigger a “bank run” and collapse similar to FTX. The host pointed to institutions capitalizing on the opportunity, highlighting a recent tweet from Grayscale touting its Grayscale Ethereum Trust as the world’s largest Ethereum (ETH) investment vehicle: We have Grayscale coming in, Wall Street never loses. In addition, JWK also found links between Binance and Ripple, the firm behind the XRP token. He…

BTC price bounces 3% post Binance amid call for Bitcoin bulls to ‘step in’

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Bitcoin (BTC) traded $1,000 off weekly lows after the Nov. 22 Wall Street open as a BTC price relief bounce held firm. BTC/USD 1-hour chart. Source: TradingView Bitcoin respects “very clear” key levels Data from Cointelegraph Markets Pro and TradingView followed crypto markets as they recovered from snap downside the day prior. As the dust continued to settle on news that largest global exchange Binance would be fined $4.3 billion by United States lawmakers, Bitcoin traders eyed the latest important price levels. Daan Crypto Trades showed BTC/USD respecting a trading…