Altcoin News by Thebittimes.Com

Amid escalating regulatory scrutiny and legal challenges, Binance experienced a 57% drop in its weekly Bitcoin trading volume since the beginning of the month, signaling potential turbulence for the world’s largest cryptocurrency exchange. This downturn coincides with mounting legal challenges and increased regulatory oversight targeting the exchange on a global scale. Binance US's weekly trade volume has fallen from a yearly high of nearly $5bn to just $40mn. pic.twitter.com/1imacBf9cA — Kaiko (@KaikoData) September 18, 2023 Regulatory struggles continue for Binance The exchange has been grappling with a series of legal and regulatory setbacks, including lawsuits, license denials, and voluntary market exits. Authorities from the U.S. Department of Justice are said to be considering filing charges against Binance. Additionally, the U.S. Securities and Exchange Commission initiated legal action against Binance, its American subsidiary Binance.US, and its founder...

During a Twitter Space on July 5, Binance CEO Changpeng Zhao delivered his forecast for the next Bitcoin bull run. Binance CEO Changpeng Zhao has delivered his prediction for the next Bitcoin (BTC) bull market. Speaking in a July 5, “ask me anything” session on Twitter, CZ explained how the price of Bitcoin has historically moved in four-year bull cycles. https://t.co/OENe6Ul4ag — Binance (@binance) July 5, 2023 While he admitted that he can’t see the future, Zhao emphasized the up coming Bitcoin halving event in 2024 and declared 2025 to be the most likely year for the next bull market, stating: "The year after Bitcoin halving is usually the bull year." CZ addresses BlackRock and Bitcoin ETFs Asked whether he was concerned about BlackRock’s recent entry into the spot Bitcoin ETF arena, CZ welcomed the idea saying it is “hugely beneficial” for the crypto industry. Since the firm’s June 15 filing, many have raised concerns that the intention of major TradFi firms stand in ...

BTC price action performs a "classic sweep" of the lows with Bitcoin on track to tackle the $30,000 mark once again. Bitcoin (BTC) hit new month-to-date lows overnight into April 4 as fresh rumors over biggest exchange Binance spooked fragile markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price returns to $28,000 after weekly lo Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $27,240 on Bitstamp. Its lowest since March 28, the performance followed an outbreak of claims that Binance CEO Changpeng Zhao (also known as CZ), already under investigation by United States regulators, was now wanted by Interpol. Their origin, an accidental leak of an encrypted tweet by private Twitter account @Cobie, subsequently appeared to lack evidence, and markets rebounded. Now trading above $28,000 at the time of writing, Bitcoin was exhibiting “classic” behavior, according to Cointelegraph contributor Michaël van de Poppe, founder and CE...

As it stands today, BUSD's market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022. Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021. Market cap of Binance USD (BUSD) over the last 12 months. Source: CoinGecko. Most recently, BUSD has been the subject of a potential lawsuit against Paxos by the United States Securities Exchange Commission (SEC) on Feb. 12 over a possible violation of investor protection laws. Since then SEC, $6.65 billion has been shaved off BUSD’s market cap. Paxos was also or...