Binance's U.S Based "VIPs", Tether Market Cap Nears All-time High

Name: FS Insight
Price range: $$$

Apr 6, 2023

Market Update Crypto and Equities are up today, with the S&P gaining 0.30% while $BTC was up 0.5% as investors assess weak job market data releases. Investors had reacted positively to poor economic data in anticipation that the Fed could pause ongoing rate hikes but attention is shifting to whether the Fed has induced a potential recession. Despite a short trading week for stocks, all eyes will be on the Labor Department's March jobs report coming out tomorrow, which will show the economy's resiliency and whether a soft or hard landing is developing on the back of the Fed's rate hikes. $ETH is underperforming $BTC, down 0.8% over the last day. $DOGE is underperforming among the top ten digital assets by market cap, falling 3.4% over the previous day as the hype-based rally from Twitter changing its logo begins to fizzle. The CFTC has named US-based trading firms Jane Street Group, Tower Research Capital, and Radix Trading as Binance's top three "VIP" clients in their lawsuit against Binance. The commodities regulator alleges that Binance's relationship with the firms violated US law since Binance was not authorized to serve US customers. Despite Binance publicly declaring it did not serve US customers, according to the CFTC, the firms used offshore entities to avoid the ban.

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -2.23% ETH -3.31% RENDER -3.45% SOL -2.95% STX -1.72% TAO 0.78% TIA 2.28% WIF -9.51% XMR -1.04% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -2.23% falling to $60k and ETH -3.31% approaching the low $2,300s. Aptos (APT -1.30% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 0.69% is also showing slight gains following...

AAVE 0.69% APT -1.30% BTC -2.23% ETH -3.31% TOTAL XRP -4.36%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.23% climbing back above $61,000 and SOL -2.95% moving above $145, while ETH -3.31% is lagging, trading around $2,400. Among today's outperformers is SUI 4.42% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...