The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 29, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Amid growing skepticism about CommEx — Binance’s mysterious buyer in Russia — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx. “Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph about the…
Amid growing skepticism about CommEx — the mysterious buyer of Binance’s Russian division — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx. “Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph…
In the last Bitcoin news, the price of the first cryptocurrency by market cap has been experiencing some gains on low timeframes. However, traders on the crypto exchange Binance were surprised when the BTC price suddenly dropped. As of the writing of this Bitcoin news, the cryptocurrency’s price trades above $27,000 for the first time in weeks. BTC recorded a 2% profit in the last 24 hours and seven days, while the price of Ethereum leads the incipient bullish momentum. BTC’s price moving sideways on the daily chart. Source: BTCUSDT…
The SEC’s case against Binance centers on its claim that BUSD was sold as an investment contract, primarily because Binance marketed it as offering yield through reward programs. In a recent development, renowned stablecoin issuer Circle has intervened in the US Securities and Exchange Commission’s (SEC) case against Binance, arguing that stablecoins should not be classified as securities. Circle Defends Binance via Stablecoins The crux of Circle’s argument is that financial trading laws should not be extended to stablecoins whose value is intrinsically tied to other assets. This intervention comes…
In a court filing, Circle argued that assets that are pegged to the U.S. dollar, like the Binance USD (BUSD) or its own stablecoin USDC, are not securities, partly because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not have the “features of an investment contract” on their own. Circle, the company that issued the USD Coin (USDC) stablecoin, has weighed in on the United States Securities and Exchange Commission (SEC) case against crypto exchange Binance, arguing that stablecoins…
CZ confirmed that Binance did encourage CommEX to have a similar design and technical features to Binance. Changpeng Zhao (CZ) has denied claims that he may be the owner of CommEX, a company whose identity continues to raise suspicion. CZ issued the disclaimer on Thursday in line with the growing speculations around the ownership of the mysterious company. Recall that earlier this week, CZ announced that Binance was leaving Russia. In the announcement, he stated that the decision has to do with an ongoing investigation of the company that’s being…
Binance’s CEO sought to quell rumors about the mysterious, day-old, crypto company as he seeks to quit Russia. Source
Crypto exchange Binance has urged users to convert their Euros into Tether (USDT) before the end of October, after losing the support of its banking partner. On Sept. 28, Binance urged European Paysafe users to convert their EUR balances in their Binance accounts to USDT before Oct. 31, noting that Paysafe has “unilaterally decided to stop processing EUR deposits for Binance users.” Binance however noted that users may continue to withdraw their EUR balances from Binance accounts to their bank accounts. “Paysafe users are advised to take appropriate actions in advance.”…
Binance France has temporarily extended its collaboration with Paysafe. The partnership, which was supposed to end on Sep. 25, has been prolonged to ensure smooth operations. Binance France clients are now urged to convert their fiat balances to crypto. In June, Binance said it was working with Paysafe, the global payment solutions provider, to implement an orderly and fair process to terminate this service over the next few months. In the Sep. 26 update, a Binance France spokesperson said the exchange had negotiated more time for clients and would provide another update on…