Binance Entering the Japanese Market, 0VIX Protocol Loses $2 Million

Market Update Markets are mixed today following the release of March PCE data which came in slightly above expectations. The $SPY (+0.29%) is continuing yesterday’s march upwards, while the $QQQ (-0.19%) is down slightly. The market is looking forward to next week’s FOMC meeting, where it's expected the Fed will raise interest rates by another 25 bps. Crypto markets are cooling off after yesterday's large move upward. $BTC (-1.38%) is holding above $29k and $ETH (-1.51%) has fallen back below $1,900. Render ($RNDR) is outperforming today, rising 4.91% at the time of writing. Additionally, $RNDR has been the best performer in the top 100 coins over the last seven days, appreciating 29%, as the community has approved a migration to the Solana network.Binance plans to re-enter the Japanese market after acquiring Sakura Exchange Bitcoin (SEBC), a Japanese regulated crypto exchange. Binance made the acquisition in November of 2022 after it failed to obtain an independent Japanese license. SEBC will cease operations under its current name and re-open as Binance Japan. This is expected to occur as early as June. Users will have until May 28th to withdraw their funds. After the deadline, any remaining account funds will be automatically converted into Yen and sent to users’ bank