CryptoSlate wMarket Update: Litecoin re-enters top 10 amid wider market weakness

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• Binance Revolutionizes Security: Traders Can Now Secure Collateral at Banks

  TL;DR Breakdown Binance responds to increased demands for enhanced security measures by considering a solution that allows institutional traders to secure their collateral at banks, reducing counterparty risk. Collaborations with FlowBank and Bank Frick are being explored as potential intermediaries for this service, providing an added layer of security and instilling confidence among traders. In response to increased demands for enhanced security measures in the wake of FTX’s collapse, cryptocurrency exchange Binance is reportedly considering a solution that would allow institutional clients to secure their trading collateral at banks. Swiss-based FlowBank and Liechtenstein-based Bank Frick have emerged as potential intermediaries for this service, according to anonymous sources familiar with the matter. Contents hide 1 Binance Responds to Counterparty Risk Concerns 2 A Tri-Party Agreement for Enhanced Security 3 The Future Outlook and Binance CEO’s Perspective 4 Conclusion Binance Responds to Counterparty Risk Concerns In the aftermath of the collapse of FTX, which resulted in significant losses for numerous traders, Binance, a leading cryptocurrency exchange, is actively exploring measures to reduce counterparty risk for its institutional clients. Recognizing the growing demand…

  Article 2023年6月3日

• Legal setbacks and lawsuit shake FTX as founder’s defense strategy is thwarted

  TL;DR Breakdown FTX co-founder denied access to documents from Fenwick & West in federal fraud case defense. FTX files lawsuit to reclaim over $700 million from investment firms. Description Sam Bankman-Fried has been denied his request to obtain documents from Silicon Valley law firm Fenwick & West LLP as part of his defense strategy in his federal fraud case, according to a court order from Friday. Bankman-Fried had sought these documents to support his claim that he relied on legal advice while engaging in … Read more Sam Bankman-Fried has been denied his request to obtain documents from Silicon Valley law firm Fenwick & West LLP as part of his defense strategy in his federal fraud case, according to a court order from Friday. Bankman-Fried had sought these documents to support his claim that he relied on legal advice while engaging in the activities for which he is currently facing prosecution. Bankman-Fried’s legal team approached U.S. District Judge Lewis Kaplan, who oversees the case, urging the prosecution to hand over the documents obtained from Fenwick & West or to allow…

  Article 2023年6月26日

• Architect fintech earns NFA license to offer brokerage services

  TL;DR Breakdown Architect financial technology has earned an NFA license to serve as an introductory broker. Targeting the crypto and traditional derivatives markets. Description Architect Financial Technologies, a startup founded by former FTX US president Brett Harrison, is making significant moves in the world of financial derivatives. This expansion comes as its subsidiary, Architect Financial Derivatives, receives approval from the National Futures Association (NFA) to operate as an independent introducing broker. The company’s ambitions extend beyond just cryptocurrency derivatives, … Read more Architect Financial Technologies, a startup founded by former FTX US president Brett Harrison, is making significant moves in the world of financial derivatives. This expansion comes as its subsidiary, Architect Financial Derivatives, receives approval from the National Futures Association (NFA) to operate as an independent introducing broker. The company’s ambitions extend beyond just cryptocurrency derivatives, as it aims to make its mark in both the digital and traditional financial markets. Architect cleared to act as a brokerage platform An introducing broker, as defined by the NFA, is a member organization that solicits or accepts orders to buy or…

  Article 2023年9月24日

• Australia’s largest bank  to reject “certain”  crypto transactions

  TL;DR Breakdown Australia’s largest bank, Commonwealth Bank (CBA), has announced that it will refuse or temporarily delay certain payments to cryptocurrency exchanges due to concerns over the risk of scams. CBA mentioned that it had introduced these measures to safeguard customers from scam-related risks associated with making payments to cryptocurrency exchanges.  The general manager of CBA’s fraud management services emphasized that scammers worldwide were taking advantage of the growing interest in cryptocurrencies. Australia’s largest bank, Commonwealth Bank (CBA), has announced that it will refuse or temporarily delay certain payments to cryptocurrency exchanges due to concerns over the risk of scams. This decision follows recent legal challenges faced by two major global exchanges at the hands of the United States securities regulator. Additionally, it comes shortly after another prominent Australian bank, Westpac, prohibited its customers from transacting with the crypto exchange Binance. CBA disclosed on June 8 that it would decline or impose a 24-hour hold on “certain payments to cryptocurrency exchanges.” However, the bank did not specify which exchanges or payment types would be affected by these new measures. Reporting…

  Article 2023年6月13日

• Avalanche price analysis: AVAX moves past $14 support but stays bearish

  TL;DR Breakdown . Avalanche price moves above $14 support on daily chart . Price remains bearish after dropping as low as $13.77 earlier . RSI moved back into the oversold region Avalanche price analysis shows a continued bearish trend in place, despite a slight uptrend occurring over the past 24 hours to take price past the $14 support. Earlier, AVAX price dipped down to as low as $13.77 which was followed by a slight recovery to move back to earlier levels. Avalanche has largely been in downtrend throughout the month of May, after declining on May 8 from the $16.52 mark. The $16 price point now acts as resistance for the current trend, with price at $14.41 at the time of writing. Avalanche trading volume dropped around 4 percent over the past 24 hours, with market cap at $10,365,619,812. The larger cryptocurrency market showed minor downtrends across the board, with Bitcoin dropping to $27,600 with a 2 percent decline. Ethereum also incurred a small decline to move down to $1,900. Among leading Altcoins, Ripple stands out to incur a 3…

  Article 2023年6月2日