TOP 5 Losers Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Celestia | $5.56 | 6.97% |
| Immutable | $1.39 | 6.10% |
| FTX Token | $4.08 | 6.09% |
| Klaytn | $0.2107 | 5.62% |
| ORDI | $21.50 | 5.50% |
Following Binance's $4.3 billion settlement and CEO Changpeng Zhao's admission of guilt, the US CFTC warns other crypto exchanges of potential similar actions. CFTC Commissioner Christy Goldsmith Romero emphasizes a zero-tolerance approach to regulatory breaches, citing the privilege of access to US markets and global jurisdiction persistence.
Binance , facing regulatory challenges, seeks a crypto license in Hong Kong. Founder Changpeng Zhao's guilty plea to US anti-money-laundering laws raises doubts. Hong Kong's Securities and Futures Commission questions Binance's license approval amid entanglements. Local affiliate HKVAEX, linked to Binance, faces complications in meeting regulatory requirements, emphasizing anti-money-laundering compliance.
Cathie Wood's ARK Invest reduces holdings in Grayscale Bitcoin Trust (GBTC) by over 700,000 shares amid Binance's $4 billion lawsuit. Despite Bitcoin's recent price surge, ARK sells $1.66 million worth of GBTC on October 28, raising speculation about a potential connection to its Bitcoin-based ETF filing. ARK Invest actively addresses SEC concerns in ongoing prospectus updates.
Crypto market sentiment is mixed as Fear and Greed Index drops to 66 after Binance's $4.3 billion settlement. Bitcoin faces monthly expiry with 108k BTC options expiring, anticipating a possible rise. ETH, with 1.2 million options expiring, sees traders cautious amid market cap concerns post-Binance events. Analysts advise buying on deeper retraces.
Ripple-backed XRP gains momentum as a whale transfers 25.20 million XRP ($15.66 million) to Bitstamp and 25 million XRP ($15.55 million) to CEX Bitso. The surge in whale activity aligns with XRP's 1.79% price increase to $0.6205. Analysts predict a possible upturn, and Ripple's collaboration with Uphold contributes to the positive sentiment.
The Monetary Authority of Singapore (MAS) outlines measures to curb speculation in cryptocurrency investments. DPT service providers must assess customer risk awareness, avoid offering incentives, financing, or leveraged transactions, refuse local credit card payments, and not consider crypto holdings in determining customer net worth. MAS aims to mitigate risks associated with speculative and highly risky cryptocurrency trading.
Binance's Bitcoin reserves drop by $200 million after CEO Changpeng Zhao's guilty plea. On-chain data reveals a shift of Bitcoin from Binance to Coinbase, possibly due to legal concerns. Analysts attribute the decrease in Binance's reserves to retail outflows, as users seek reassurance on compliant or licensed exchanges amid ongoing legal challenges.
A Bitcoin transaction worth $2.1 million incurred a record fee of 83.65 BTC (over $3.1 million), as reported by Whale Alert. The unusually high fee is likely a mistake, with past incidents of accidental exorbitant fees corrected by mining pools. The sender and the mining pool, Antpool, have yet to comment on the situation.
Former SEC official John Reed Stark criticizes Binance and CEO Changpeng Zhao for alleged criminal violations, emphasizing the severity of charges beyond financial misconduct. Stark accuses Binance of enabling illicit transactions, including those linked to terrorism, ransomware, and child exploitation. The recent $4.3 billion settlement reflects the scale of Binance's conduct.
Also read - 24 Crypto Update, 23 Nov: Yearly Highs Pose Challenge for BTC and ETH
