Genesis Files Lawsuit Against Gemini, $100 Million Heco Chain Breach
Equities are continuing the November rally, with the Nasdaq and S&P gaining 0.6% and 0.5%, respectively. The yield on the U.S. 10-Year Treasury dropped below 4.4% for the first time in two months, in spite of the recent FOMC minutes suggesting that the policy will stay ‘restrictive’ until there is a clear trend of inflation heading towards the Federal Reserve’s target of 2%. BTC is recovering to trade at $37k after tapping $35.6k following Binance’s settlement with the U.S. Department of Justice, where it acknowledged violations related to anti-money laundering, unauthorized money transmission, and breaching sanctions. Binance has also reached settlements with the CFTC, FinCEN, and OFAC. As per the settlement terms, Binance will pay penalties and forfeitures totaling $4.3 billion, withdraw entirely from the U.S. market, and maintain an independent compliance monitor for three years. Additionally, CZ, who admitted guilt in contravening the Bank Secrecy Act and awaits sentencing in February, resigned as CEO and is barred from any involvement with Binance for a three-year period. The role of CEO will now be assumed by Richard Teng, Binanceâs head of regional markets and a former regulator in Abu Dhabi. ETH is trading above $2k after a brief sell-off, outperforming BTC over the last day with ETHBTC gaining 2.24%.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.53% climbing back above $61,000 and SOL 5.69% moving above $145, while ETH 0.45% is lagging, trading around $2,400. Among today's outperformers is SUI 1.37% , 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...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY -5.91% and QQQ -6.26% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 1.53% briefly dropping below $62k and ETH 0.45% below $2.5k. Among altcoins, SUI 1.37% is showing...
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