Crypto Market Forecast: Week of May 8th 2023

A curated weekly summary of forward-focused crypto news that matters. This week, Binance closes BTC withdrawals citing congestion, Montana signs a new bill to establish cryptocurrency friendliness, and Americans are worried about the safety of their money stored in banks.

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First Mover Asia: China’s State-Owned Banks Are Soliciting Hong Kong Crypto Business, but Opening an Account Is Hard

Are bitcoin traders shrugging off the CFTC's action against Binance? Or is there just not enough liquidity to go around?

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Crypto friendly Instpower power banks become available in French Burger King locations

Burger King has placed popular Instpower power bank rental machines in Paris, which take crypto payments handled by cryptocurrency payment services Alchemy Pay and Binance Pay.

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Bitcoin Has Benefited From U.S. Dollar Liquidity to Support Banks: Morgan Stanley

Traders on Binance now set the daily price for BTC with the crypto exchange’s share of trading volume reaching 80%, the report said.

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Binance CEO: Why Do The Same Banks Keep Falling?

In the wake of Credit Suisse’s crisis, Changpeng Zhao, the CEO of Binance, in a tweet on March 20, questioned the constant failures of banks and the regular, yet costly, need to bail them out using taxpayer’s monies.

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Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.

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Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging

CZ, the CEO of Binance, has suggested purchasing the ailing Silicon Valley Bank, which entered into a Federal receivership on March 10 after it had been exposed due to risky lending practices. The post Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging appeared first on CryptoSlate.

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USDC depeg – Everything we know so far as contagion spreads from TradFi banking

What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley bank collapse Binance suspended USDC conversions due to volatile market conditions Coinbase suspended USDC conversions “over the weekend while banks are closed” SVB contagion: […] The post USDC depeg – Everything we know so far as contagion spreads from TradFi banking appeared first on CryptoSlate.

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Exchanges using USDT to trade in Russia despite sanctions: Report

Huobi and KuCoin are reportedly allowing customers of sanctioned Russian banks to access their trading platforms. Binance was also allowing Russians to convert local currency to crypto without The post Exchanges using USDT to trade in Russia despite sanctions: Report appeared first on AMBCrypto.

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CZ denies Bloomberg US delisting report

Reports emerged that Binance Global intends to end partnerships with U.S.-based firms such as banks and terminate listing tokens linked to US-based projects as regulators cast the net deeper. Binance's CEO has refuted the claims. 

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Binance Suspends USD Withdrawals as Banks Flee Crypto

Binance to suspends USD deposits and withdrawals on Feb. 8, 2023.

The post Binance Suspends USD Withdrawals as Banks Flee Crypto appeared first on BeInCrypto.

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Binance clarifies USDC withdrawals were due to token swap, replenishing hot wallet

Binance CEO Changpeng ‘CZ’ Zhao blamed banks for the exchange delay in processing USD Coin (USDC) withdrawals in a December 13 tweet. The post Binance clarifies USDC withdrawals were due to token swap, replenishing hot wallet appeared first on CryptoSlate.

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Binance Re-Enters Japanese Crypto Market With Acquisition of FSA-Regulated Exchange Sakura

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Billionaire Changpeng Zhao Says Binance Is Interested In Buying Banks

Binance, the world’s largest crypto exchange by volume, is considering adding banks to its shopping spree, according to an interview the company’s chief Changpeng ‘CZ’ Zhao recently did with Bloomberg.

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Binance CEO Zhao Considering Buying Banks: Report

Zhao wants his crypto exchange to become a bridge between traditional finance and crypto, according to a report in Bloomberg.

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CryptoSlate Wrapped Daily: Bitcoin slumps after CPI release; Fed Vice Chair warns banks on crypto company deals

The biggest news in the cryptoverse for October 13 includes Bitcoin falling by 3% as CPI data of 8. 2% worsen fear of rate hikes, Binance allegedly filing inadequate financial reports in the UK, STEPN denying lay-off claims, and United States lawmakers demanding a probe of ERCOT for paying Bitcoin miners in Texas.

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CryptoSlate Wrapped Daily: Lebanon turns to crypto amid bank closures; FTX seeks to raise $1B; Zilliqa launches web3 gaming console

The biggest news in the cryptosphere for September 22 includes Binance’s newly-set Global Advisory Board that’ll foster responsible regulation of the crypto sector, the agreement Russia’s financial watchdog and largest bank reached to use crypto for international payments, and the indefinite close-up of the banks in Lebanon which pushed the Lebanese to turn to crypto.

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Why Analysts Are Bullish on Chronoly (CRNO), Binance (BNB), and Cardano (ADA)

Cryptocurrency may have started over 13 years ago as a Wild West dominated by mavericks, today the crypto market is a force to reckon with among financial institutions. Big banks and other financial service providers give it serious attention despite recent market downturns and regulatory crackdowns in different parts of the world.

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Binance CEO Changpeng Zhao Laying The Pieces For An Epic Crypto Revolution

Binance’s CEO touched down in Brazil and has left a pretty interesting trail. The company acquired a brokerage in Brazil and unveiled plans to purchase banks. Brazil might be gearing up to be the leading cryptocurrency hub of South America.

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Binance CEO Says Firm Is Looking Into Buying Banks and Payment Processors in Brazil

The company will seek to strengthen its presence in the Latin American country and comply with local regulations, according to Changpeng “CZ” Zhao.

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Binance joins Russia’s Bank Association as its first crypto member

Cryptocurrency exchange Binance has become the first crypto-centric entity to join the Association of Banks of Russia (ABR), the company announced last Friday. The post Binance joins Russia’s Bank Association as its first crypto member appeared first on CryptoSlate.

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Binance Executive to Lead a Crypto Expert Center for Association of Banks of Russia

focus on crypto regulation. Binance executive Olga Goncharova will lead the operations in the expert center. The center will be tasked with reviewing crypto circulation in Russia and international developments in the industry.

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Binance exec to lead crypto expert center by Russian bank association

The Association of Banks of Russia has launched a dedicated expert center focused on cryptocurrency regulation.

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Binance Loans Review – Can You Borrow Money From Binance?

Binance Loans Review Taking out loans from conventional banks these days can be a time-consuming and arduous process. The conditions that are set for the users are becoming stricter, and even if you get a loan from a bank, there are various fees and hidden costs that will be very expensive in the end.

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CBDCs Could Fail Due To Their Walled-Garden Nature, Says Binance’s CZ

With banks around the world increasingly joining the race to develop their own Central Bank Digital Currencies, Binance’s founder Changpeng Zhao, commonly known as “CZ” is already predicting their demise if certain conditions are not met.

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How To Do Yield Farming On BSC With BNBMatrix?

Yield farming is a still-nascent crypto strategy to high return on investment (ROI) on depositing cryptocurrencies, including bitcoin, ethereum, Binance coin (BNB), and stablecoins. While traditional investments in banks pay a quarter percent, yield farming can give triple-digit % yields.

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DEXs could see demand boost as regulators target centralized exchanges

From indictments against figures behind BitMEX to banks blocking transactions, and then Binance, some CEXs are under pressure. Is this an industry-wide phenomenon?

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After Barclays and Santander, UK Bank Natwest Blocks Payments to Binance

A major high street bank in the U. K. , Natwest, has blocked payments to crypto exchange Binance. Natwest’s decision came after two other major British banks — Barclays and Santander — made a similar move to block fund transfers to Binance.

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Binance Faces Further Issues As Major Europe Payments Partner Denies Services To The Beleaguered Exchange

Clear Junction, one of Binance’s key payments partners in Europe has cut ties with the embattled cryptocurrency exchange. The suspension marks the latest prohibition on customers moving funds on Binance from traditional banks and other types of financial accounts.

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Santander joins the list of U.K banks banning Binance payments

Santander, one of Europe’s largest banking groups, has tweeted it will stop customer payments to Binance. The post Santander joins the list of U.K banks banning Binance payments appeared first on CryptoSlate.

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After Barclays, Santander Bank Blocks Payments to Binance in UK Citing Customer Protection

Santander Bank in the U. K. has become the latest high street bank in the country to block fund transfers to cryptocurrency exchange Binance. Recently, Barclays and Natwest banks reportedly made a similar move.

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Santander UK Joins Other Banks to Block Payments to Binance Due to FCA Warning & to Keep its Customers ‘Safe’

The British unit of the Spanish banking giant also said that they have seen “a large increase in UK customers becoming the victims of cryptocurrency fraud.” The post Santander UK Joins Other Banks to Block Payments to Binance Due to FCA Warning & to Keep its Customers ‘Safe’ first appeared on BitcoinExchangeGuide.

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Binance Faces Ban In China And Blocks In Europe

European banks began blocking customer payments to the crypto exchange Binance after the UK financial watchdog banned operations of Binance's subsidiary in the UK. In China, Binance faces blocks of its website and apps.

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Banks, Including Barclays, Are Banning Transfers to Crypto Exchange Binance Using Debit and Credit Cards

All of this has been done in the name of keeping the customers’ money safe while Binance says, “If our partners have any concerns, we would welcome a dialogue to discuss,” adding UK regulator FCA’s notice to BLM, isn’t about Binance.

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UK Banks Suspend Payments to Crypto Exchanges Due to “High Levels of Suspected Financial Crime”

Barclays, Starling, and Mozo are blocking their customers from transferring money to cryptocurrency platforms like Binance and Swiss Borg. These banks are cracking down on transfers to crypto exchanges in recent weeks by suspending payments to the sector, reported local media.

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UK Banks Are Blocking Payments To Cryptocurrency Exchanges

According to a recent report from The Telegraph, three UK banks, Barclays, Monzo, and Starling have halted payments to cryptocurrency exchanges like Binance and SwissBorg. The banks cite concerns regarding crypto-related financial crime as the primary motivation for this action.

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Banks Refusing To Work With Crypto Will Pay A Hefty Price: Binance CEO CZ

The CEO of Binance has been very vocal about his stances on the cryptocurrency market. Yesterday, the CEO revealed he may have underestimated cryptocurrencies like DOGE, ETH, BTC, and BNB. He even emphasized DOGE’s impressive performance, despite holding zero Dogecoin.

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Ethereum Centralization Concerns Take a Back Seat as Fee Insanity Intensifies

The entire ethos of cryptocurrency and DeFi is to gain distance and freedom from centralized banks and corporations. However, these virtues appear to have been lost at the moment as Ethereum fees are driving users to centralized providers such as Binance.

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Central Bank of Nigeria Prohibits Banks to Deal with Crypto’s which Became Popular in EndSARS Protests

Binance has already disabled deposits while citizens of Africa's largest economy object to CBN’s decision. The post Central Bank of Nigeria Prohibits Banks to Deal with Crypto’s which Became Popular in EndSARS Protests first appeared on BitcoinExchangeGuide.

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New York Banks Get Approval to List and Custody Binance USD Stablecoin

New York banks can now list and custody Binance Stablecoin, Binance USD, (BUSD) after the recent approval by the New York Financial Department of Financial Services, NYDFS. The NYDFS updated its greenlight list to include Binance USD meaning that banks can go ahead and use the asset without requiring any further approval from the regulatory […]

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Binance Says New York Banks Can Now Use Its Stablecoin After Watchdog Approval

NYDFS has added Binance USD to its approved list, cutting away most of the red tape around custody and listing of the stablecoin.

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COVID и четыре фактора, которые могут склонить банки и регуляторов к криптовалютам

Представляем вашему вниманию мнение обозревателя CoinDesk Аджита Трипати, который также является исполнительным директором в компании Binance и ведущим подкаста Breaking Banks Europe. Оригинальная статья была опубликована на сайте CoinDesk.

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As Central Banks Go On Printing Spree: Binance CEO Reminds ‘No Inflation In Bitcoin’

Binance CEO Changpeng Zhao (CZ) took to Twitter to share his thoughts about the ongoing interventions by governments to stabilize their economies. CZ sent a cryptic tweet on March 26 proclaiming that Bitcoin does not have inflation.

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Binance Inks Deal with Turkish Bank Akbank for Direct Lira Transfers 

Binance, a leading cryptocurrency exchange in terms of trading volume and users, has announced its partnership with Turkey’s Akbank, one of the largest banks in the Western Asian nation. The alliance makes Akbank the first lender ever to directly integrate with Binance and it will also allow users to deposit and withdraw the Turkish liraRead MoreRead More.

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Cryptocurrency News From Japan: Jan. 20–24 in Review

This week’s news from Japan includes digital currency interest from several central banks and authorities, cryptocurrency exchange Binance and more

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Binance CEO: Govts' embrace of digital currency to push adoption in 2020

Bitcoin skyrocketing, altcoins nosediving, scams, hacks, even central banks announcing digital currencies, 2019 had it all and then some. Looking at the onset of the next decade, the market has a lot The post Binance CEO: Govts' embrace of digital currency to push adoption in 2020 appeared first on AMBCrypto.

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Binance Supports New Fiat Onramp to Buy Crypto Assets with the Indian Rupee via WazirX

Binance can now purchase Bitcoin (BTC) and other cryptocurrencies through Rupee bank transfers that are powered by WazirX, the Indian digital exchange for assets. Not banned in the country, people in India still find it difficult to trade and buy Bitcoin because banks don’t have the green light to work with crypto exchanges and companies. […]

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African Bitcoin Exchange Founder Vanishes, Claiming Lost Wallet Password

Bitcoin by design is secure, for people to be their own banks it needs to be. Responsibility for your own assets and private keys is of paramount importance, even more so if you are a custodian of assets for others.

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Binance.US USD deposits eligible for FDIC insurance coverage

All US Dollar deposits on Binance. US’s platform are now eligible for Federal Deposit Insurance Corporation [FDIC] insurance coverage. According to a blog post published on its official website, the United States-dedicated wing of Binance stated that all the US Dollar deposits are held in “pooled custodial accounts” at numerous banks that are FDIC insured.

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