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Binance to Focus on Regulatory Compliance
In a Bloomberg interview, Binance chief executive officer (CEO) Richard Teng talked about meeting regulatory compliance and the exchange’s hiring goals this year.
#Binance, the world’s largest crypto exchange, plans to spend big on meeting all aspects of compliance after the recent conflicts with regulators globally. #Binance Holdings plans to hire 1,000 people this year with many dedicated to compliance roles.
Crypto enthusiasts on Twitter and various news outlets enthusiastically discuss the upcoming ETFs. Industry experts hint at increased utility and demand for #XRP, which could significantly impact its price. For instance, a well-known crypto analyst, Alex Saunders, tweeted.
Table of Contents
•What Is an XRP ETF?
•Definition and Structure
•Comparison With Direct XRP Investment
•The Regulatory Landscape of XRP ETFs
•Securities and Exchange Commission (SEC) Stance
•Global Regulatory Perspectives
•Benefits of Investing in XRP ETFs
Is #XRP Army a Cult?
In addition to his critique of #XRP’s market performance, Pal expressed concern that the #XRP and #ADA communities had become cults. He argued that this mentality can cloud investors’ judgment and lead them to make irrational decisions.
In a video shared by Jungle Inc, another well-respected crypto figure and prominent crypto YouTuber, Pal argued that the #XRP market has been stagnant for an extended period, and investors should focus on newer assets with greater growth potential.
Raoul Pal, founder of Real Vision, recently made comments that had the #XRP army up in arms to defend their preferred digital asset. He ignited a fierce debate about the digital asset’s potential by urging investors to reassess their positions and abandon old coins like #XRP.
According to Binance, ETH suddenly plummeted to a low of US$2,111 and then rebounded. The amount of liquidation in one hour has reached 370 million US dollars.
The Trigger: Bank of Japan’s Rate Hike
The massive correction in crypto and traditional markets might have been triggered by the Bank of Japan, which last week hiked its benchmark interest rate. This monetary tightening sent the yen shooting higher and Japan’s Nikkei stock👆🏻
#Bitcoin’s price took a nosedive, dropping over 10% to slip below $54,500. The #altcoins are suffering even more, with #Ethereum down by 20% and other top #altcoins falling between 15-20%. The broader CoinDesk 20 Index is down 12% over the past 24 hours.
Crypto Market Liquidations Soar to $800M
Data from Coinglass shows that the past 24 hours saw over $800 million liquidated from the crypto market, with most of it happening in the last 4 hours. Out of this, $700 million was in long liquidations, while $106 million was in short
seen since February and Ether (ETH) back to prices not seen since December. Bitcoin is down 12% over the past 24 hours and 20% over the past week. Ether has taken an even bigger hit, down 21% over the past 24 hours and 30% for the week, wiping out its year-to-date gains.