Scan to download
BTC $60,835.67 -2.67%
ETH $1,614.73 -2.89%
BNB $563.38 -2.39%
XRP $1.07 -2.90%
SOL $67.83 -2.14%
TRX $0.3271 -0.51%
DOGE $0.0758 -3.59%
ADA $0.1476 -2.73%
BCH $189.51 -2.50%
LINK $7.43 -2.26%
HYPE $63.34 +1.35%
AAVE $79.00 +8.73%
SUI $0.6862 -2.30%
XLM $0.1865 -4.57%
ZEC $414.58 -1.07%
BTC $60,835.67 -2.67%
ETH $1,614.73 -2.89%
BNB $563.38 -2.39%
XRP $1.07 -2.90%
SOL $67.83 -2.14%
TRX $0.3271 -0.51%
DOGE $0.0758 -3.59%
ADA $0.1476 -2.73%
BCH $189.51 -2.50%
LINK $7.43 -2.26%
HYPE $63.34 +1.35%
AAVE $79.00 +8.73%
SUI $0.6862 -2.30%
XLM $0.1865 -4.57%
ZEC $414.58 -1.07%

not

All
Article
Flash

Reuters: Binance says it will not exit Europe and will seek other EU operating licenses

According to a report by Reuters, Binance's head for Europe and the UK, Gillian Lynch, stated that despite setbacks in its attempt to apply for a European Union cryptocurrency operating license in Greece, Binance still plans to remain in the EU and will seek to obtain local operating permits again.Lynch said, "Binance will not leave Europe." She mentioned that Binance may just need to obtain authorization through different paths, and if not in Greece, the company will look for other alternatives. Binance currently has only one week left before its existing European operating license expires, and if it cannot obtain a new license, it may need to gradually shut down its EU operations.Two informed sources said that Binance had communicated with regulators in Ireland, Latvia, and Greece, but faced resistance in all three countries. The sources indicated that regulatory officials were concerned about Binance's past penalties related to money laundering issues, its complex international structure, and what they perceive as a risk-seeking culture. Lynch stated that Binance is unclear why it was not approved, as it previously believed that the Greek regulators planned to issue licenses.She also mentioned that Binance has contacted four or five regulatory agencies but only submitted a formal application to Greece. Regarding Binance's past issues, Lynch stated that the company has invested in compliance and internal controls, hiring about 1,500 compliance personnel, and claimed that there are no unresolved issues with its license application.

CoinUp responds to recent market rumors: Zhu Pan is not the operator of the platform, and the volatility of CPX mainly comes from concentrated selling pressure in the market

According to official news from CoinUp, regarding recent market discussions about CoinUp and CPX, CoinUp stated that Zhu Pan is not the operator of the CoinUp platform and does not participate in the core operations of the platform; his role is solely as a project party for a project launched on the CoinUp platform.CoinUp also expressed gratitude to users, the community, and the media for their attention and supervision of CPX. In response to the recent significant short-term price fluctuations of the CPX/USDT trading pair, the platform previously announced that this fluctuation was mainly due to concentrated selling pressure from the market, and the specific reasons are currently under further investigation and verification, with updates to be provided in a timely manner based on the progress of the investigation.CoinUp emphasized that after a comprehensive security check of the platform, it has not suffered from hacker attacks, data breaches, or system vulnerabilities; the wallet system, account system, and asset custody are all in a secure and controllable state. The platform's recharge, withdrawal, and trading functions are operating normally, user assets are secure, and account data is complete, with no reported losses of user assets.CoinUp stated that it will continue to improve its risk control monitoring mechanisms, maintain market trading order, and advise users to rely on official channel information, view market fluctuations rationally, and pay attention to controlling trading risks.

Analysis: The net holdings of long-term BTC holders have reached a new historical high, indicating that the bottom of the bear market may not be far away

On-chain analyst Murphy stated that the net holdings of long-term holders (LTH) have reached a new historical high. As of June 17, the net holding amount of LTH reached 14.96 million BTC, an increase of 20,000 BTC compared to the peak formed on March 27. This is also the second time that LTH net holdings have reached a new high since BTC entered the bear market. More and more BTC are unwilling to participate in short-term speculation and turnover, with 75% of the total circulating supply held by LTH.He believes that historically, the bottom of each bear market usually appears after the net holdings of LTH begin to rise, meaning that there is first a "holding recovery," followed by a "bottom formation." In the last cycle, LTH net holdings experienced three new highs, corresponding to three strong distributions, which occurred during the periods of the Federal Reserve releasing interest rate hike expectations, the Luna crash, and the FTX collapse. This cycle has currently reached a new high for the second time. He believes that the key is not how many times a new high is reached, but whether the scale of previous LTH distributions shows a clear downward trend. If this distribution scale is lower than the last time, it indicates that selling pressure is gradually exhausting, and the true bottom of the bear market may have already formed or is not far off.

Strive CEO: The significant fluctuations of STRC and SATA today are due to leveraged liquidations, not a deterioration in underlying credit

Strive CEO Matt Cole stated that today is the most difficult day in the history of digital credit. STRC rebounded significantly after hitting a low of $82.5 during the trading session, while SATA recovered after dropping to just over $90 near its par value, with many investors experiencing a tough trading day. Matt Cole indicated that what occurred today was a leveraged liquidation event, not a deterioration in underlying credit quality.He pointed out that when investors find a certain type of asset with a high yield, relatively low volatility, and strong underlying credit characteristics, they often increase returns through borrowing and leveraging. However, once the market moves in the opposite direction, forced selling can trigger a cycle of price declines, margin calls, and further selling, causing the sell-off to detach from fundamentals and driven by balance sheet constraints. He emphasized that the issuer's credit quality remains robust. Strive's dividend reserves are intact, the company is not under pressure, and it still has the ability to meet obligations and continue executing its strategy.He also mentioned that both STRC and SATA saw significant buying near their intraday lows and quickly recovered, indicating that there is actual demand in the lower price range. Matt Cole stated that liquidation events are not the same as credit events. Today's price fluctuations did not change his confidence in the long-term opportunities in digital credit; instead, it reinforced his view that the sector is building a new category of financial instruments and will experience similar growing pains before maturing into a large fixed income market.
app_icon
ChainCatcher Building the Web3 world with innovations.