Binance Coin "has nothing but air below it," one analyst warns as BTC price action goes from bad to worse.
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Bitcoin targets $16.7K amid fear BNB may 'drag whole crypto market down'
Bitcoin (BTC) looked set to ditch $17,000 after the Dec. 16 Wall Street open as United States equities continued to fall.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst: $240BNB "has nothing but air below it"
Data from Cointelegraph Markets Pro and TradingView tracked new intraday lows of $16,743 for BTC/USD on Bitstamp.
The pair had abruptly dived nearly 3% earlier in the day, compounding losses, which immediately followed one-month highs.
Ongoing concerns over largest global exchange Binance pervaded the mood, these coming despite the best efforts of CEO, Changpeng Zhao, to dispel what he called “FUD.” As Cointelegraph reported, longtime crypto traders were similarly skeptical of the credibility of the “craziest rumors” about the crypto exchange sector.
Nonetheless, markets refused to give them a break, and beyond Bitcoin, warnings increased over the fate of Binance’s in-house token, Binance Coin (BNB).
FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations
According to lawyers representing FTX's provisional liquidators, allegations that Bahamian officials were giving residents preferential treatment were “wholly without merit”.
Raydium is attacked, loses $2 million
The team said that authority over the automated market maker and farm programs have been paused, “for now.”
Only for foreign trade: Bank of Russia stands against free crypto investment
The Russian government doesn’t want to enable Bitcoin for regular Russian people but exclusively for foreign trade entities.
Only for foreign trade: Bank of Russia stands against free crypto investment
The Russian government doesn’t want to enable Bitcoin for regular Russian people but exclusively for foreign trade entities.
No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios
The firms work with prominent crypto exchanges such as Binance, KuCoin, Crypto.com, Gate.io, OKX and FTX.
BNB insurance Binance listing? CZ addresses delisted project's claims
While the delisting didn't concern many due to its inactivity, others questioned the focus on price for delisting as it may prompt projects to artificially pump the price.
Bitcoin dips under $17K as 'craziest rumors' over Binance sink BTC price
Bitcoin traders stay wary over Binance "FUD" triggering overly bearish BTC price action.
Bitcoin dips under $17K as ‘craziest rumors’ over Binance sink BTC price
Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance “FUD” fuels bearish BTC moves
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp.
The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States.
Amid ongoing concerns over the solvency of largest global exchange Binance, market sentiment showed what traders argued was a clear case of cold feet.
The evidence, they suggested, simply did not stack up in bears’ favor.
Binance proof-of-reserves removed from the auditor's site
Mazars Group, known for its proof-of-reserve audit services for crypto companies, reportedly removed PoR audits from its site.
Bitcoin is a better platform for Web3, says Lightning Competition organizer
A tournament to find and support new Bitcoin companies could be a way of attracting developers from Web3 ecosystems to crossover to Bitcoin.
Amber Group raises $300M to recover from FTX contagion
The new funding from Fenbushi aims to help Amber address some of the “significant drawdowns” as an aftermath of the FTX default.
Silvergate faces class-action lawsuit over FTX and Alameda dealings
The suit is looking to hold Silvergate accountable for its alleged roles in transferring FTX user deposits to Alameda bank accounts.
Charges laid over alleged ‘crypto mining’ Ponzis that netted $8.4M
Various creators and promotors of two allegedly fraudulent crypto companies are facing a litany of charges that could land them 20 years in jail.
Japan set to ease 30% crypto tax on paper profits for token issuers
As it stands, Japanese crypto issuers are required to pay a set 30% corporate tax rate on their holdings, even if they haven’t realized a profit through a sale.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
SBF reportedly files new bail application in the Bahamas Supreme Court
Bahamas media reports that Sam Bankman-Fried lodged a new bid for bail just two days after a judge denied his previous application and called the FTX founder a flight risk.