Cryptocurrency

Starting from December 8 at 00:00 UTC, traders will be able to engage in fee-free transactions on six FDUSD pairs such as BNB/FDUSD and ETH/FDUSD. This promotional period is set against the backdrop of an evolving crypto market landscape with leading digital currencies showing bullish trends.Binance also clarified that trades on these selected pairs will not count towards users’ VIP tier volume nor will they qualify for Liquidity Provider program benefits during the promotion. The exchange is known for its tiered trading fee discounts based on volume and holding of its native BNB token but has chosen to exclude these trades from such calculations.Additionally, Binance has implemented a temporary one-hour interest fee waiver on margin loans for various cryptocurrencies, including BTC and ETH. This waiver is part of the exchange’s ongoing efforts to integrate FDUSD as a stablecoin substitute and follows their strategy of phasing out BUSD pairings. The waiver will be available until December 18 at 09:00 UTC.In parallel with these initiatives, Binance is set to enable fee-free transactions for additional spot and margin trading pairs such as XRP/FDUSD starting December 8. This service aims to promote fairness and equal opportunities for all users to enhance their portfolios.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The sale occurred as Coinbase shares hit a high of $146.30 before closing at $141.09 on Monday. This move follows Ark’s late November sale of over 118,000 Coinbase shares through ARKW and ARKF, signaling a nuanced approach to the firm’s crypto asset investments during the market’s recovery phase.Simultaneously, Ark Invest demonstrated its confidence in the fintech sector by purchasing 14,702 shares of Robinhood (NASDAQ:HOOD). The trading platform’s stock price reached $9.55 and was poised for further gains after announcing a 4.40% increase in after-hours trading. This uptick is partly attributed to news of Robinhood’s expansion into the UK market and the positive sentiment surrounding potential Bitcoin ETFs.Cathie Wood also commented on Bitcoin’s relevance in cyber warfare, reflecting the heightened interest from entities such as the Defense Department. Her remarks underscore robust market confidence in the varied applications of cryptocurrencies.Aside from its crypto-related transactions, Ark has been bolstering its fintech holdings by acquiring shares of companies like Robinhood and expanding into digital payments with investments in Toast Inc. Additionally, Ark’s significant purchase of PagerDuty (NYSE:PD) Inc shares indicates its belief in the growth potential of IT management solutions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

WASHINGTON (Reuters) – The cryptocurrency industry was on track to hit a new record for federal lobbying spending, after a year in which firms scrambled to repair their reputations and advance friendly legislation, according to data provided to Reuters by nonprofit research group OpenSecrets. Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year’s spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Last year, companies including FTX spent nearly $22 million on lobbying in total. Coinbase (NASDAQ:COIN), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates Crypto.com, the Blockchain Association and Binance Holdings.“Our goal is to engage directly with policymakers, build relationships and bridge the education gap to build a commonsense regulatory framework,” said Kristin Smith, CEO of the Blockchain Association, in a statement. Crypto companies have been expanding in Washington, in part to try to mend their reputations following a string of scandals last year, including the collapse of FTX, whose former CEO Sam Bankman-Fried had been a familiar presence in Washington. He was found guilty of fraud last month by a jury in a Manhattan federal court. Crypto firms have also been trying to combat growing regulatory scrutiny, especially from the U.S. Securities and Exchange Commission which says the industry has been flouting its rules. Lobbying escalated after the SEC sued Coinbase and Binance in June for allegedly failing to register tokens, claims they deny.The industry has also been pushing the SEC to approve a spot bitcoin exchange-traded fund (ETF), which would open up the world’s largest cryptocurrency to millions more investors. Optimism that the agency will green-light the product after losing to a key court on the matter in the summer helped drive bitcoin to a 20-month high on Monday.Crypto companies have also been trying to advance friendly legislation in the House of Representatives and scored a victory in July when a congressional committee in that chamber passed two major bills that lobbyists say would help provide clarity over which existing financial rules apply to crypto companies. Although those bills have yet to advance further, crypto lobbyists are not letting up. Coinbase, which in September launched a grassroots advocacy campaign, is continuing its push with more lawmaker meetings in coming weeks, a spokesperson said. Binance and Crypto.com did not respond to requests for comment. More

The withdrawal delays seem to be part of a broader pattern of transactional congestion. Today, reports have emerged of a Coinbase (NASDAQ:COIN) user facing a seven-hour wait, at the time of disclosure, for an Ethereum transfer to be completed, highlighting the frustration among customers over the prolonged transaction times across various platforms.Although Uphold has not specified the exact cause of the current withdrawal delays, past service interruptions at the company have been attributed to increased demand following favorable legal decisions regarding XRP. It is speculated that the current issues may be related to the registration process for the Evernode airdrop, which involves over two billion qualifying XRP tokens. The anticipation for this event could be contributing to higher-than-usual traffic and subsequent stress on the system.Cryptocurrency exchanges like Uphold and Coinbase are no strangers to challenges brought about by sudden spikes in activity. Users of these platforms are often reminded of the volatile nature of digital asset markets, not just in terms of price but also in operational performance during periods of high demand.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Moreover, open interest in on the CME has seen an uptick, starting to outpace BTC after a period of lagging. This shift could indicate growing interest from traditional finance (TradFi) investors in Ethereum, potentially as a reaction to the burgeoning ETF market for ETH.This article was originally published on U.Today More

This whale has been actively managing their investments in the digital currency space, aligning their moves with the fluctuating market trends.The investor’s activity first garnered attention during the Bitcoin rally from August 24 to September 2, when they acquired 6,000 BTC. Their smart trading tactics became evident as they capitalized on this momentum. On October 18, the whale took advantage of the market conditions by depositing 1,000 BTC into the Binance exchange platform for sale.Not stopping there, the investor continued their strategy by moving another batch of 1,000 BTC to Binance on November 8. Today, as Bitcoin’s value continues to climb, Lookonchain reported that the trader has executed another sale by transferring an additional sum of 1,000 BTC to Binance.Following these well-timed trades, the whale’s current assets consist of an impressive stash of 3,000 BTC. The estimated value of these holdings stands at approximately $125.2 million, with an unrealized profit nearing $45.8 million. These figures underscore the significant impact that strategic trading can have on an investor’s portfolio, particularly in the volatile cryptocurrency markets where timing and market sentiment play crucial roles in determining success.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

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Bukele proudly stated that the country’s investments in Bitcoin have made all the media that ridiculed this decision fall silent. Not only will El Salvador be able to cover all the funds it invested in BTC, it would also make a few million USD on top of that, should they sell all their Bitcoin now. But Bukele says they have no intention of selling.Early Bitcoin investor and advocate Max Keiser moved to El Salvador to become the to Bukele.Nayib Bukele reminded the community that when, three years ago, he decided to switch the country’s economy to Bitcoin-powered tracks and make BTC the national currency of El Salvador, there were thousands of articles that ridiculed their supposed losses on that investment.The president emphasized that they have no intention to sell their BTC, and that has never been the goal. He added: “We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.”He believes that “the naysayers and the authors of those hit pieces” should take back their negative statements and “issue retractions, offer apologies, or, at the very least, acknowledge that El Salvador is now yielding a profit, just as they repeatedly reported that we were incurring losses.”Earlier today, Bitcoin managed to and hit $41,900 for the first time since April last year.This article was originally published on U.Today More