More Binance Drama

The courtroom tussle between the SEC)and crypto giant Binance has taken a twist. 🌀

The SEC’s bid to inspect Binance.US’s software, seeking potential links to its global counterpart, was shot down by Judge Zia Faruqui. The SEC alleges that Binance.US, claiming to operate separately from Binance, might have skirted American regulations.

Binance.US’s legal team labeled the SEC’s request a “fishing expedition.” Meanwhile, Binance.US’s trading volume has plummeted, with a staggering 98% drop from January 2022 to August 2023. In contrast, Coinbase boasts a daily trading volume of $983 million, overshadowing Binance.US’s $11.2 million.

Adding to the intrigue, Binance CEO, Changpeng Zhao (CZ) clarified on X that Binance.US never used Ceffu or Binance Custody:

However, other users responded to CZ, reminding him that Binance.US has used Ceffu when it was called Binance Holdings.

If CZ provides more clarity, we’ll update this story when it happens. 🗓️

Learn More About...

More in   Crypto

View All

Technically Speaking – March 5, 2024

Well, like I said, this isn’t a fun Litepaper. Instead of finding wen-Moon or wen-Lambo, we will be looking for wen-bottom. 💔

I’ll keep it short and sweet, quickly identifying where analysts and traders see strong support levels ahead.

Read It

News In Three Sentences – February 28, 2024

Great Zeus’s Beard That’s A Lot: BTC ETF trading volume spiked over $7.5 billion, more than double its previous record. 😱 WatcherGuru has more

BlackRock Turns Bitcoin ETFs into Its Own Personal Money Printer: BlackRock’s ($BLK) massive $520 million infusion into $BTC ETFs, combined with Europe’s unrelenting buying spree and a nifty GBP arbitrage opportunity on $COIN, propelled Bitcoin past the $60,000 mark despite expectations of a pause. Short-sellers everywhere are now questioning their life decisions. 🚀    Read more from TrustNodes

Read It

One Way To Use Stocktwits’ Social Data Tools

Have you ever heard the phrase ‘volume precedes price’? It’s an old-school technical analysis 101 maxim. For example, if an instrument is in a downtrend but then you start to see volume tick up, the theory is that price will follow the volume. 🧑‍🎓

It’s what technical analysts call a leading indicator—a heads-up or a warning that the probability of change is high and that it might happen soon. Analysts and traders might apply that principle (volume precedes price) to the Stocktwits Social Data. 

Read It