Bitcoin price prediction has a bullish outlook during the US trading session as BTC bounced off the $23,300 support. The bitcoin price has been on a rollercoaster ride over the past few days, with significant price increases followed by heavy losses.
Binance CEO refutes claims of USDC delisting amid SEC regulatory actions
Binance, which has the highest trading volume of any cryptocurrency exchange, is reportedly looking to sever ties with its US trading partners. according to recent reports From Bloomberg, Binance is considering delisting tokens from any firm based in the United States due to recent regulatory action from the Securities Exchange Commission (SEC).
As the SEC is paying more attention to the crypto industry, Binance is one of several exchanges reviewing its policies and procedures to meet regulatory requirements.
After the Securities and Exchange Commission (SEC) stated that a stablecoin pegged to the US dollar is simply a security and then sued crypto firm Paxos, the relationship between exchanges and the US regulatory body has become more strained and uncertain. Has gone.
In light of these developments, Binance is reportedly re-evaluating its investments in the United States. While Binance is not licensed to operate in the US, it is conducting business in the country through its subsidiary, Binance.US.
However, with regulatory pressure mounting, Binance is one of many crypto exchanges now reviewing their operations and considering changes to their business model to remain compliant with US regulations.
Binance CEO Responds Quickly to Allegations
Responding to the allegations, Binance CEO Changpeng Zhao (CZ) took to Twitter to debunk the claims. CZ responded to a comment on the social media platform, saying:
Changpeng Zhao, the CEO of Binance, has been mired in controversy recently. a reuters reports It was revealed that Binance transferred $400 million from a “secret” account linked to its subsidiary Binance.US to Merit Peak, a trading firm owned by CZ.
The firm, which was incorporated in the British Virgin Islands in 2019, previously invested over $1 million in Binance’s US subsidiary. The transaction was facilitated through the crypto-friendly financial institution Silvergate Bank.
SEC Alleges Terraform Labs CEO Transferred Over 10,000 Bitcoins After Collapse
The SEC has sued Terraform Labs and founder Do Kwon for allegedly transferring millions of dollars of bitcoin to a Swiss bank account following the company’s collapse in May. The lawsuit includes allegations of the sale of unregistered securities.
The defendants are alleged to have moved more than 10,000 bitcoins from Terraform and Luna Foundation guard accounts to non-custodial wallets outside the exchange platform.
Since then, Terraform and Quon have reportedly transferred bitcoin to a Swiss financial institution and converted it to cash, resulting in withdrawals of over $100 million since June 2022.
The collapse of Kwon’s venture wiped out more than $40 billion in combined market value. Swiss financial regulator FINMA declined to comment on the matter.
Binance Reviews US Investment in Light of Regulatory Action
As regulatory scrutiny of Binance continues, the world’s largest cryptocurrency exchange is reportedly considering ending its partnership with the US firm. Bloomberg reports that Binance CEO Changpeng Zhao is reviewing the exchange’s venture capital investments in the US and is considering severing ties with American banks and service providers.
Binance is reportedly considering delisting tokens from US-based projects, including Circle’s USDC stablecoin.
The SEC, CFTC, DOJ and IRS are investigating Binance, which serves US customers through Binance.US. Despite the investigation, Binance.US claims to operate independently and has no plans to exit the US market.
bitcoin price
live from today Bitcoin The price is $24,323, and the 24-hour trading volume is $40 Billion. Bitcoin is down 2.5% in the last 24 hours. Bitcoin is currently ranked #1 on CoinMarketCap with a live market capitalization of $469 billion. The circulating supply of bitcoin is 19,293,956 BTC coins, with a maximum supply of 21,000,000 BTC coins.
Bitcoin rebounded after finding support near the $23,325 50% Fibonacci retracement level. The closing of the candles above this level initiated an uptrend, which created a buy trend in bitcoin.
Moving forward, the next resistance level for bitcoin lies at $24,350. If a bullish crossover occurs above this level, BTC price could potentially increase towards $25,300. Additionally, on the 4-hour time frame, a “three white soldiers” pattern could signal an upcoming uptrend in BTC.
The 50-day moving average is also contributing to the potential for continued growth in bitcoin. Investors may want to watch the $23,700 level to take buy positions and do the opposite if the price declines below this level.
bitcoin options
Cryptonews has released a comprehensive review of the top 15 cryptocurrencies investors should consider for 2023. The purpose of the report is to assist investors in making informed investment decisions.
Along with cryptocurrencies, there are other investment options with the potential for higher returns that investors may want to explore.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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