Tag: Binance

Badger DAO utility token surges amid Binance Futures launch

The Badger DAO utility token, BADGER, has skyrocketed in value thanks to cryptocurrency exchange Binance. Badger DAO (BADGER) is a decentralized autonomous organization (DAO) with a single purpose: to create the products and infrastructure needed to accelerate the use of Bitcoin (BTC) as collateral for other blockchains. In 24 hours, BADGER saw an impressive 20.18% increase, rising from $2.8 to $4.61 in the price range. At its peak, the token price reached $5.53. This price increase indicates positive market sentiment following Binance’s announcement. BADGER price | Source: CoinMarketCap The coin’s…

Binance to stop accepting deposits in Russian rubles

Starting Nov. 15, the Binance cryptocurrency exchange will stop accepting deposits in Russian rubles. Withdrawals will continue until Jan. 31, 2024. Users with fiat balances in Russian rubles can transfer funds to CommEX for free, according to the announcement. At the same time, on Nov. 9, CommEX itself added a channel for replenishing and withdrawing funds from the exchange wallet in rubles and opened trading in the USDT/RUB pair on the spot market. “Register for a CommEX account or log into the CommEX account, and connect it to the corresponding…

CME, Where Institutions Trade Bitcoin, Flipped Binance in Futures Volumes. Is That as Bullish as It Sounds?

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But, if you believe in efficient markets, then you’d have to think a pre-scheduled event that 99.9% of all bitcoin holders know about and eagerly await would have to be “priced in.” Then again, it’s hard to say crypto markets are efficient. And the same guys who thought up the Efficient Markets theory also said it’s impossible to find a $10 bill on the street, because, if it was there, it’d already be pocketed by someone. Yet I find (and lose) money all the time, and crypto traders sometimes make…

CME Tops Binance, Holds Largest Bitcoin Futures Open Interest

CME’s rise to the top suggests increasing institutional interest as the platform is a favorite among large traditional financial institutions. The Chicago Mercantile Exchange (CME) has surpassed Binance as the exchange with the largest Bitcoin futures open interest (OI) for only the second time in history. The first time was over two years ago. At the time, strong investor appetite after the launch of ProShares Bitcoin Strategy ETF increased Bitcoin (BTC) Futures trading on the exchange. CME surpassed Binance by about $2 million on open interest before the latter retook…

CME overtakes Binance as leading Bitcoin futures exchange

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The regulated derivatives marketplace Chicago Mercantile Exchange has surpassed Binance to become the leading Bitcoin (BTC) futures exchange. The shift marks the first time in two years that CME has claimed the top spot, indicating a surge in demand from institutional traders. CME currently holds the top position among futures and perpetual futures exchanges, per CoinGlass data, with an open interest (OI) of around $3.99 billion and a notable 24.32% of the market share. Meanwhile, Binance’s OI has decreased to $3.77 billion, down by 13% over the same timeframe. Notional…

Binance to terminate Russian ruble deposits next week

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Cryptocurrency exchange Binance is progressing with its exit from Russia and is preparing to terminate local currency deposits next week. Binance will stop accepting deposits in Russian rubles starting Nov. 15, 2023, the firm officially announced on Friday. Binance also advised users to withdraw RUB from the platform, as it expects to terminate RUB withdrawals on Jan. 31, 2024. The announcement notes that Binance users can transfer their funds to CommEX, a new crypto exchange business that acquired Binance’s Russian division in September 2023. Binance noted that RUB withdrawals on…

CME overtakes Binance to grab largest share of Bitcoin futures open interest

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Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months. A number of analysts highlighted the ‘flippening’ of Binance by CME, with the latter overtaking the global cryptocurrency exchange for the largest share of Bitcoin futures open interest. Wow, the real flippening that no one is talking about: CME just flipped Binance for the largest share of Bitcoin futures open interest. Bittersweet — there will soon be more…

Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC

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Binance’s arguments used in its motion to dismiss a lawsuit from the United States securities regulator relies on an incorrect legal analysis and have no basis in law, the regulator has argued. In a Nov. 7 court filing the SEC rebuffed Binance’s earlier bid to toss the regulator’s suit saying no court has adopted Binance’s “tortured interpretation of the law.” The SEC sued Binance in June alleging it, Binance.US and its founder Changpeng “CZ” Zhao sold unregistered securities and failed to register as an exchange in the United States. Binance argued…

Crypto Exchange Binance Has No Real Argument for Dismissing SEC Suit, Regulator Says

The SEC pushed back against Binance and Binance.US’s motion to dismiss the suit it brought earlier this summer, saying the motion relies on “distorted” and “tortured” interpretations of both federal law and precedents. The SEC first sued Binance in June, a day before suing Coinbase, arguing both companies offered unregistered securities to the investing public (the Binance suit included some other allegations). Original Source ArgumentBinanceCryptoDismissingExchangeRealRegulatorSECSuit CryptoX Portal