Tag: Trading

Binance US Removes Selected Trading Pairs Amid SEC Allegations

Binance is also pausing its OTC Trading Portal services in the US. The exchange said that it will notify users if and when the portal opens in the coming weeks and months.  The US arm of top crypto exchange Binance has removed 10 advanced trading pairs from its platform. In an announcement, the exchange said it would let go of select BTC and BUSD Advanced Trading pairs by 9 am PDT on June 8, 2023. Notably, the company earlier planned to eliminate over 100 crypto assets. The initial decision was supposed to…

CEX trading volumes fell to 4-year lows even before Binance, Coinbase suits

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Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure from United States regulators and lawmakers. According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive month of dwindling crypto trading activity. As the data is only current to the end of May, it does not take into account any potential impact from the recent SEC lawsuits against Coinbase or Binance.…

SEC’s Move To Sue Top Exchanges Decreases Trading Volumes – Blockchain News, Opinion, TV and Jobs

By Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International  BTC closed last week at about $27,000, a 3.5% decrease from the $28,000 price at the end of last week. It dropped to about $25,500 on Monday, slightly moving upwards to $26.394 late Tuesday, after the SEC announced it is suing Binance and Coinbase, the world’s largest crypto exchanges by volume, for trading securities it deemed as being unlicensed in the US. Trading volumes remain at low levels, with BTC on-chain volume decreasing by 13% during May.…

Binance.US pauses OTC trading, removes numerous trading pairs

In a move to streamline its buy, sell & convert service, Binance.US has announced a reduction in the number of supported convert trading pairs, bringing the total to 226.  The announcement came amid the complaint filed by the U.S. Securities and Exchange Commission (SEC) on June 5. Responding to the complaint On June 7 Binance.US released a statement announcing the removal of several trading pairs, many of which are popular tokens. The new policyis set to go into effect on Thursday, June 8. However, users can still utilize buy, sell & convert…

Binance.US halts trading for dozens of USDT, BTC, BUSD pairs amid SEC lawsuit

Binance.US removed trading services for several crypto tokens on June 7. The move follows a lawsuit filed earlier this week by the United States Securities and Exchange Commission against Binance entities and thei leadership.  “After careful consideration, Binance.US will remove selected Advanced Trading pairs on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT. We have also decided to streamline our Buy, Sell & Convert offering and have paused our OTC Trading Portal,” reads an announcement. The pause affects over 90 trading pairs of the stablecoin Tether (USDT), eight…

SEC Crypto Crackdown on Coinbase and Binance Generates 444% Spike in DeFi Trading Volumes

Following a recent strike at major crypto exchanges, the SEC has inadvertently caused an over 400% rise in trading volumes on DeFi platforms. The ongoing crypto crackdown by the US Securities and Exchange Commission (SEC) has come with a silver lining for the crypto industry, especially for decentralized finance (DeFi). According to crypto data aggregator CoinGecko, the top three largest decentralized exchanges (DEXs) have recorded a 444% jump in median trading volume in the last 48 hours. The data shows a combined $792 million increase in total trading volume for…

SEC crackdown on Binance and Coinbase surge DeFi trading volumes 444%

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The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours as crypto investors reeled from the United States securities regulator’s recent legal actions against cryptocurrency exchanges Coinbase and Binance. According to aggregated data from CoinGecko, total daily trading volumes on Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum) and Pancakeswap V3 (BSC) — which account for 53% of the total DEX trading volume in the last 24 hours — increased by more than $792 million between June 5 and June 7. Trading volume on…

JPMorgan partners with Indian banks to enable dollar trading via blockchain

Global financial giant JPMorgan has announced a strategic partnership with six major Indian banks to launch a blockchain-based platform to settle interbank dollar transactions. This latest move is part of a broader effort to promote the growth of Gujarat International Finance Tec-City (GIFT City), a project by the Indian government to establish a competitive financial hub to rival global centers such as Singapore, Hong Kong, Abu Dhabi Global Market (ADGM), and Dubai’s International Financial Centre. Kaustubh Kulkarni, the senior country officer for India and vice chairman of Asia Pacific at…

Binance market share chopped with the end of zero-fee BTC trading

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New data has revealed that cryptocurrency exchange Binance has experienced a loss in market share after it ended its zero-free Bitcoin (BTC) trading. A report by CCData released in mid-May revealed that the exchange market share has continued to slide for the second consecutive, to 46.3%. This marks Binance’s lowest percentage of market share since October 2022. The market share drop follows Binance’s decision to end its zero-fee BTC trading promotion for most BTC trading pairs. A representative from Binance spoke to Cointelegraph saying: “We forecast a drop in market…

Coinbase Derivatives Exchange to Roll Out Bitcoin and Ethereum Futures Trading on June 5

Coinbase Derivatives Exchange will start trading BTC and ETH perpetual futures on June 5, 2023, for non-US institutional clients only. Leading American crypto exchange Coinbase has announced its plans to introduce futures contracts for Bitcoin (BTC) and Ether (ETH) in its newly launched derivative marketplace regulated by the Commodity Futures Trading Commission (CFTC). The new venture, Coinbase Derivatives Exchange, officially debuted last month in Bermuda following approval from the country’s financial regulator, the Bermuda Monetary Authority (BMA). The company said the derivative platform would enable traders to speculate on the…