DOJ Seeks $4 Billion in Binance Settlement, CoinDesk Acquired by Bullish

Nov 20, 2023
Market Update U.S. equities are rising to start the week ahead of the Thanksgiving holiday. The SPX (+0.45%) is trading at $4,535, while the NDQ (+0.76%) is approaching $16,000. Investors will be watching Nvidia’s earnings release tomorrow, potentially serving as a catalyst for AI-related names. Crypto markets are rising following news that the U.S. Justice Department is seeking $4 billion in penalties from Binance in exchange for settling its criminal case against the exchange. $BNB has risen 5.80%, while $BTC (+0.27%) and ETH (+1.81%) are trading above $37.5k and $2k, respectively. All eyes were on $BONK this weekend, which has now risen 567% in November, surpassing the $200 million market cap mark. It will be interesting to watch if meme-coin capital rotates into $DOGE (-0.42%) ahead of a late-December space mission that will send a physical dogecoin to the moon as part of Astrobotic’s Peregrine Mission One.In an all-cash deal, crypto news outlet CoinDesk has been acquired from Digital Currency Group (DCG) by digital assets exchange Bullish. Although the terms of the acquisition were not disclosed, Barry Silbert stated in a tweet that DCG initially bought CoinDesk for $500k in 2016 when it was a small Bitcoin blog, and the sale marks one of DCG’s “best investmen

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Bitcoin experienced yet another weekend rally, breaking above $42,000 for the first time since the Terra unwind in April 2022. BTC 2.28%  has since retraced slightly, stabilizing around the $41.5k mark. A major beneficiary of the rally was STX 7.12% , the Bitcoin layer 2 token we pinpointed as a buy in our recent strategy note. The token has rallied impressively, marking an approximate 25% increase today and a 50% bump since the...

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