Crypto exchange Binance has recently made the decision to reduce employee benefits, effective from June 19, in response to a declining profit margin. The company announced that it would no longer provide mobile-phone reimbursement, fitness reimbursement, and other staff-related bonuses. Binance attributed this cost-cutting decision to the challenging market environment and regulatory climate, which have
admin
Crypto traders are expressing pessimism in the derivatives market regarding Binance’s native coin BNB, as regulatory turmoil continues to plague the embattled crypto exchange. According to data from Coinglass, the open interest-weighted funding rate for BNB turned negative over the weekend. This negative open interest indicates that traders who are betting on a price decline
The Financial Stability Board (FSB), an international body responsible for monitoring and providing recommendations for the global financial system, has recently released its finalized global regulatory framework for crypto-asset activities. In addition to this framework, the FSB has published several “high-level” recommendations for the regulation, supervision, and oversight of the crypto industry and its markets.
The Securities and Exchange Commission (SEC) chair, Gary Gensler, has voiced his disappointment regarding a recent court ruling that declared Ripple’s XRP token as “not in and of itself” a security. While speaking at an event hosted by the National Press Club in Washington DC, Gensler expressed his displeasure on behalf of retail investors while
The United States appears to be on the brink of reaching an agreement between Republicans and Democrats regarding the regulation of stablecoins. Two influential members of the Financial Services Committee in the US House of Representatives, who were responsible for drafting the bill on stablecoin regulation, have revealed that Republicans are in favor of a
Republican Congressman Glenn Thompson from Pennsylvania is preparing to introduce a new cryptocurrency bill in the House of Commons this week. Thompson believes that the recent court ruling regarding Ripple will help garner support from Democrats for the legislation. According to Bloomberg News, the court ruling determined that programmatic sales of Ripple’s XRP to the
Bitcoin (BTC) has encountered difficulties in breaking above the $31,800 mark, resulting in a 6.3% correction down to $29,700. This price action has raised concerns among investors that ongoing regulatory developments and macroeconomic headwinds could drive Bitcoin below the $29,000 level, last observed on June 21. In terms of Bitcoin futures, there has been increased
New data from crypto analytics firm Glassnode reveals that Bitcoin (BTC) at $30,000 has become the most popular “buy” level to date. Despite the price action of BTC stalling near this mark, buyer behavior indicates a significant demand for the largest cryptocurrency in the market. Glassnode’s Entity-Adjusted URPD (UTXO Realized Price Distribution) metric, which monitors
Wall Street Memes, a retail investing community that emerged in 2021, has achieved a significant milestone with its presale of the $WSM token reaching $15 million. The movement gained traction as small investors united against Wall Street, becoming a powerful force in the world of retail investing. With a massive following of 1 million across
Solana’s (SOL) price experienced a momentary surge to a new year-to-date high on June 14 following Ripple’s partial victory against the United States Securities Exchange and Commission (SEC). The court ruling contested XRP’s (XRP) classification as a security, leading to a 48.09% increase in the token’s value, reaching a peak of $32.40. However, the price