Weekly Crypto Market News / 20 – 26 March

Changpeng Zhao responded to the complaint of CFTC. Changpeng Zhao published an official response to the complaint on the Binance blog:

• Binance is the biggest non-American exchange. It has the most strict KYC verification and forbids all the residents of the USA access to trading.
• The exchange actively cooperates with law enforcers. Around 55 thousand requests have been processed, and for 2022-2023, assets worth $ 285 million were frozen.
• It has the most significant number of licenses–16.
• Binance has never traded against customers. Changpeng Zhao and coworkers of the crypto exchange can trade futures and have the right to one trade with a coin for 90 days, don’t use Launchpad, Earn, or Margin tools. It looks convincing. However, if all this is true, why is a lawsuit? Read more

The Japanese Fujitsu cooperation is preparing to open cryptocurrency trading. Service Mark Application is already about this. Read more

Binance is launching a crypto hub in Georgia and a crypto school in Ukraine.
Binance, with support of Blockchain4Ukraine, is launching a crypto school in Ukraine. Read more

Bloomberg: Chinese banks intend to cooperate with crypto companies in Honkhong. Chinese banks have been directly reaching out to crypto businesses over the past few months, adding to signs that the city’s push to become a major digital asset center has backing from Beijing, even though trading of crypto has been banned on the mainland for well over a year.
Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban. Read more

Microstrategy has bought 6 455 BTC one more. Now, they have 138 955 BTC.
MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. Learn more

SEC has issued a warning about breaking the law in the staking and passive income programs.
Coinbase asked the SEC for reasonable crypto rules for Americans and got legal threats instead. Learn more

A platform for staking appeared in the institutional version of the crypto Metamask wallet.
The marketplace will bring together staking providers, offering simple, one-click staking to institutions. The aim is to facilitate broader institutional participation and boost Ethereum network security by simplifying ETH staking. Read more

Research: the USA authorities own 205 515 BTC.
The US Government is one of the biggest #Bitcoin whales. Since 2020, they seized 215k+ $BTC – currently holds at least $5.65b worth. Read more

Tether has announced excess backing of USDT in $1,66 billion.
Crypto firm Tether says it has around $1.6 billion in excess reserves to back its USDT stablecoin. Read more