Bittrex Global Suspension of Trading Activities

Bittrex Global, a prominent player in the cryptocurrency exchange industry, has announced its decision to wind down its operations, beginning with the suspension of trading activities on Dec. 4.

In a recent update on the exchange’s website on Nov. 20, Bittrex Global issued a directive to its users, urging them to convert their U.S. dollar holdings into euros or cryptocurrency before the fast approaching deadline. Failure to do so could result in users being unable to withdraw their assets.

The exchange also cautioned against making deposits during the transition period, warning that there could be no guarantees of the safety of deposited funds.

This announcement came about nine months after Bittrex’s decision to discontinue operations within the United States due to ongoing regulatory issues.

Binance Facing Legal Troubles

Binance Holding Ltd. is facing the possibility of a $4 billion settlement to resolve accusations of multiple criminal violations. Binance’s founder, Changpeng Zhao (CZ), is potentially facing criminal charges in the United States amid a lengthy investigation focusing on allegations of money laundering, bank fraud, and violations of U.S. sanctions laws.

Earlier this year, Binance faced enforcement actions from the SEC and the CFTC. If a fine exceeding $4 billion is imposed by the U.S., it would be one of the largest settlements in the history of the cryptocurrency industry.

Binance Introduces AI Tokens Rewards Program

Despite its ongoing legal troubles, Binance recently introduced a trading rewards program for specific AI tokens, offering traders the chance to share in a reward pool of 10,000 USDT worth of token vouchers. The promotion applies to spot trading pairs of AI tokens that have surpassed $2 billion in trading volume in the past week.

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BNB Price Movement

Despite the looming criminal charges, the price of Binance’s native token, BNB, has shown some resilience. Technical indicators on BNB’s daily chart suggest that its price may continue to rise in the next 24-48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators were flagging bullish, suggesting that bulls have gained the upper hand against sellers.

BNB was able to break above the major resistance level at $255 over the past 24 hours, and continued to trade above this significant mark at press time, indicating potential for further price increases in the near future.

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By Team