Thu. Feb 22nd, 2024

• Binance is reportedly considering ending relationships with U.S. business partners due to tighter securities regulations from the SEC.
• The exchange’s CEO, CZ, denied the rumors on Twitter.
• The crypto space has had a rough first quarter of 2021 despite the start of a crypto bull run.

Binance Considering Ending US Business Relationships

According to a Bloomberg report, crypto exchange Binance is considering ending relationships with U.S. business partners due to a tightening in regulatory policies by the Securities Exchange Commission (SEC). This comes after allegations by the SEC that BUSD, a stablecoin pegged to the US dollar, is a security and suing the crypto firm Paxos.

CZ Rejects Allegations

Binance’s CEO Changpeng Zao (CZ) denied these allegations in a Twitter post saying “False”. In addition, Binance spokesperson Kimberly Soward told Reuters that Merit Peak, an investment firm owned by CZ, is neither trading nor providing services on the Binance.US platform and only Binance employees have access to it.

Q1 Crypto Market Turbulence

The intense scrutiny from U.S regulators has caused much uncertainty in the crypto market during Q1 2021; despite recording a crypto bull run that is barely starting to take shape.

Ripple Signing Singapore As CBDC Customer?

Ripple may be signing Singapore as its next customer for Central Bank Digital Currency (CBDC). This could lead to new opportunities for financial institutions in Singapore and provide them with easier access to payments and potentially other services offered through RippleNet products such as xCurrent or xRapid.

“The Matrix” Star Keanu Reeves On Crypto

Keanu Reeves recently shared his thoughts about cryptocurrency saying “The principle behind crypto is amazing”. He views it as something that can bring people together without requiring trust from each other or any third-party intermediary . He believes that this technology can help promote financial inclusion across different parts of society while providing individuals with more autonomy over their finances and transactions they make online

By admin