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2024-05-11

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Crypto Funding Woes Continue in Q3 2023 Bitcoin flashes signs of resiliency as October growth holds steady How to buy cryptocurrency in NigeriaReason Behind Rapid Surge in Base TVL Source: Adobe StockBinance Marketing Partner Rebuildingsociety has been sanctioned by the UK's Financial Conduct Authority (FCA), informing them that they cannot act on behalf of Binance for financial promotions under current law.In a recent regulatory development, Rebuildingsociety, a firm duly recognized and regulated by the UK's Financial Conduct Authority (FCA), has been subjected to restrictions. The FCA has mandated Rebuildingsociety "not to approve the content of any financial promotion for a qualifying cryptoasset for communication by an unauthorized person.This notice has sparked speculation regarding the recent Binance's potential shift in UK partnerships to ensure compliance with the FCA's marketing requirements. This sanction comes a mere seven days after Binance announced its partnership with Rebuildingsociety. The partnership was aimed to facilitate Binance in marketing its various offerings, including spot trading, nonfungible tokens (NFTs), and various other products and services specifically targeted towards users in the UK.However, the FCA directive indicates that Rebuildingsociety must, by 5 pm on October 11, 2023, withdraw any existing approvals of financial promotions containing a qualifying cryptoasset.The FCA's instructions extend to Rebuildingsociety's client engagement. The firm is required to inform any clients it has engaged with or has been engaged with for the purpose of approving content in any financial promotion containing a qualifying cryptoasset about the imposed requirements. Additionally, Rebuildingsociety is mandated to withdraw any advertisements or similar promotional materials offering to approve the content of such financial promotions for communication by an "unauthorized person."Furthermore, Rebuildingsociety must affirm its compliance with the FCA's requirements by no later than 5 pm on October 13, 2023, in written communication to its designated contact at the Authority.Binance Launched UK-Specific Domain in Compliance with FCA's Financial Promotions RegimeOn October 6, in a strategic move to align with the Financial Conduct Authority's (FCA) Financial Promotions Regime, Binance embarked on a partnership with Rebuildingsociety.com Limited and unveiled a dedicated domain for UK users.Since 2021, the FCA, in response to its assessment that Binance was "not capable of being effectively supervised," has acted on Binance's request to revoke several permissions previously granted to its UK unit. Consequently, Binance's UK arm was barred from engaging in regulated activities within the country.However, this collaboration allowed Binance to operate within the UK while adhering to the updated Financial Promotions Rules. Rebuildingsociety, being a sanctioned and FCA-regulated firm, holds the authorization to approve crypto marketing and communications materials as an 'S21 approver.'As part of its commitment to conform with the FCA's stringent regulations, Binance took several measures. These include the discontinuation of services such as referral bonuses, research and academy offerings, and gift cards in the UK. All marketing materials associated with these services will be subject to approval by the Rebuilding Society. These changes were set to come into effect for retail users in the UK starting on October 8, 2023.FCA Continues Vigilance on Crypto Asset PromotionsThe FCA has maintained a vigilant stance on promotional activities in the crypto asset sphere. In a recent development, the FCA announced that it had issued a total of 143 notifications pertaining to promotional activities tied to crypto assets.Starting from October 8, 2023, the FCA mandates that any entity seeking to promote crypto assets in the UK must be either authorized or registered by the Financial Conduct Authority (FCA). Alternatively, they must obtain approval for their marketing materials from an authorized entity.These regulatory guidelines emphasize transparency, equity, and the absence of misleading information in promotions. They also require the prominent display of risk warnings and prohibit any encouragement of investments that may be deemed inappropriate.It is crucial to note that these financial promotion regulations are binding on all firms involved in marketing crypto assets to UK consumers, regardless of their location or the technology employed for promotional endeavors. These measures are aimed at empowering consumers with a deeper understanding of crypto asset investments and the associated risks.SBF's Lawyers Seek To Cross-Examine Gary Wang on Counsel’s Involvement in Alameda Loans

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Kennedy had been teasing his decision for several days. The super-PAC (political action committee) supporting him, American Values 2024, released polling results on Oct. 2 that, it claimed, showed he would be the strongest independent candidate in the modern history of U.S. elections, with the support of 19% of the electorate. That is compared to 38% support for U.S. President Joe Biden and former president Donald Trump. The daily time frame technical analysis for XRP shows that the price created a very long lower wick on August 17 (green icon). The wick is considered a sign of buying pressure, suggesting that sellers could not push the price down further and buyers took over instead. Gemini Crypto DerivativesHowever, the Australian Securities Exchange (ASX) last year halted its blockchain system development, which was aimed at modernizing its outdated settlement layer, after three years of effort. Analysts predict the U.S. “debt spiral” may push up interest in crypto assets such as XRP to rival gold.

Zug is considered to be Switzerland’s crypto valley. One of Switzerland’s benefits is its adaptable political system and flexible legislation, which allow for new and creative ventures. This characteristic attracts international businesses looking for investment opportunities in the state. Additionally, through establishing research institutions with the goal of assisting groundbreaking experiences, particularly in the crypto space, the government supports state-level inventive endeavors. It also helps that Switzerland is home to renowned research institutions that offer funding and assistance for start-up initiatives in digital currencies. So whether they'll all be ready at the same time, that is open to question. And I find it almost impossible to believe that they're all at the same level of operational preparedness.What Next For Shiba Inu Price as 1 Trillion SHIB Tokens Hit Crypto Exchanges? Amid Crypto Bank Crisis, Fidelity Expands Bitcoin, Ether Trading To Most Retail AccountsBitcoin price edged toward reclaiming $28,000 on October 6, as markets reacted positively to the latest US Labor market report. Can the bullish whale investors capitalize on the positive news event to reclaim the $30,000 territory? The month’s positive end preceded a number of ether (ETH) futures ETFs that went live Monday. Yet despite initial optimism, those vehicles performed modestly out of the gate.

Analyzing the 4-hour chart, it is evident that the price has predominantly followed a downward trend, forming a descending wedge pattern. However, ETH recently reached the crucial support level of $1.5K and found support, leading to a period of sideways movement within this range. Also, blockchain is a type of Distributed Ledger Technology (DLT) that stores records of data processed through blocks in several connected computer nodes. Each of the nodes of the ledger consists of transaction details that are consensually shared across the globe. How to Trade Cryptocurrency ? For Beginners-acrossbecomeThe profit/loss momentum indicator aims to identify an asset’s existing trend, according to Glassnode. The analytics firm defines short-term holders as traders who have held Bitcoin for less than 155 days. John J. Ray III, the CEO and Chief Restructuring Officer of the FTX Debtors, which handles the FTX bankruptcy proceedings, later said that $323 million in various tokens were hacked from its international exchange and $90 million from its U.S. platform.

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