Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Binance website URL is now accessible in India. URLs of 9 offshore crypto exchanges including Binance, OKX, Kucoin were blocked by Govt. of India on January 12, 2024. These platforms received show-cause notice from the finance ministry in December 2023 for not complying with India’s anti money laundering laws. Kucoin was the first offshore crypto exchange to register with FIU and after paying a fine of  ₹34.5 lakh  its URL was unblocked in March. 

Binance filed for FIU registration in April and was fined ₹18.82 Crore while OKX decided to discontinue its services in India.

Even though Binance URL is now accessible, the app is yet to reappear on Play store and App Store.
There is still no update or announcement from the official Binance on its social media or blog, however people are able to access the website. This might be a signal that Binance URL has been unblocked completely.

Elon Musk has taken part in today’s X Takeover podcast hosted by the Tesla Owners Silicon Valley account on Musk’s X social media platform. When he was asked to share his current take on the world’s leading cryptocurrency, Musk responded that while he does think “there is merit in Bitcoin and maybe some other cryptos” however, Musk made it clear that he does not intend to promote crypto, any crypto. He also said that if anyone sees a video where he is pumping crypto, that is a deepfake. 

According to the latest CoinShares report, the newly issued spot Ethereum ETFs have pulled up a significant $2.2 billion in inflows alongside a 542% hike in ETH exchange-traded products. The new inflows milestone was tempered by $285 million in overall net outflows from Grayscale’s $1.5 billion Ethereum trust. Alongside ETH developments, Bitcoin also has attracted $3.6 billion in inflows over the past month, contributing to a year-to-date total of $19 billion. The surge is likely driven by speculation surrounding the upcoming US elections and the potential for BTC to become a strategic reserve asset.

A decade-old Bitcoin holder has transferred a large 37 BTC holdings worth over $2.5 million after 11 years. These sorts of events happen due to increased asset prices as traders often look to make quick profits. The transfer is debated along social media spaces as some are lauding the move based on the huge profit and long wait period of over a decade. However, others point to the projected asset price amid inflows suggesting holders should not let go of their assets. The Satoshi-era holders are popular for driving market sentiments with their whale structure, unlike smaller traders.

In a significant move, the Ethereum Foundation has transferred its entire holdings of TKO tokens to Bitcoin Suisse, a prominent institutional crypto service platform. The transaction involved 3.484 million TKO tokens, valued at approximately $9.16 million. This transfer comes just weeks after the Ethereum Foundation received these tokens from the Taiko mainnet on June 28. The transfer coincides with some market fluctuations for Taiko (TAIKO) tokens. As of writing, TAIKO’s price stands at $2.58, down over 1.7% in the past day, with a 24-hour trading volume of $22.3 million.

Robert Kiyosaki took X to discuss money as an interesting subject. He shared that he used to make his coins by melting down old tubes of toothpaste, which made out of lead. That game taught him about “counterfeiting.” He shared his regrets about schools never teaching children about money or taxes, and therefore he stressed, “90% of the people today work for and save counterfeit, a.k.a. fiat, a.k.a. fake money.” He has advised people to “Get smarter and save gold, silver, and Bitcoin.”

The cryptocurrency market has recorded a strong bullish recovery over the past weekend by adding over $50 Billion to its valuation, from $2.42 Trillion to $2.47 Trillion. Following this, the market leader, Bitcoin price has gained 3.47% within the past 24 hours with a trading volume of $21.323 Billion. Notably, Bitcoin’s dominance in the market has grown to 55.5%, the highest in over 39 months. On the other hand, the altcoin leader, Ethereum price has breached its important resistance of $3.25K and has jumped 4.84% over the past day with a volume of $10.58 Billion.

The price of Shiba Inu surged by 27,000,000% in the first ten months of 2021, which could be achieved due to significant contributions from Vitalik Buterin. He had received half of SHIB’s total supply from Shiba Inu’s pseudonymous founder and had burned most of the gifted tokens, which helped bolster investors’ confidence in Shiba Inu, prompting leading crypto exchanges to support its listing. Therefore, the price of Shiba Inu spiked massively. If Shiba Inu witnesses a surge of 27,000,000% as it did in 2021, SHIB’s price would increase from its current value of $0.00001726 to $4.66.

Samson Mow has recently commented on a presentation by Michael Saylor and expressed his support for Saylor’s Bitcoin prediction. “By 2045 the dollar will not exist,” he wrote in an X post. Michael Saylor predicted Bitcoin could reach $13 million by 2045, requiring a 29% annual return and a market cap of $280 trillion. In a bullish scenario, it could hit $49 million, while the bearish case suggests $3 million. Saylor’s comments sparked criticism from Bitcoin skeptic Peter Schiff, who accused him of advocating for a government bailout of Bitcoin, suggesting taxpayers would be left holding the losses.

Max Keiser, a Bitcoin advocate and advisor to the president of El Salvador, has shared his view on the future of Bitcoin in a recent post on the X platform. He stated that World War Bitcoin has started and everyone with Bitcoin wins. In his view, fiat money, stock and gold do not stand a chance against BTC, because no one will trade those assets for Bitcoin. “Everything goes to zero against Bitcoin,” he concluded.

Crypto exchange BingX has launched a pre-market trading feature giving users early access to coins alongside enhanced liquidity and price discovery. This will benefit both the platform and users as traders will be drawn to the exchange due to the reputation of giving early listings. As per the BingX update, the new feature will operate as an over-the-counter platform increasing changes in optimal prices. Users can choose orders based on demand and price expectations. The exchange plans to introduce users to new tokens ahead of the wider market.

Peter Schiff in a recent X post made a certain comment about Bitcoin implying that Bitcoin’s widespread recognition and the high attendance at Bitcoin conferences contradicts the claims of it being the “world’s best kept secret.” He also used the comparatively lower attendance at gold conferences to highlight the hype surrounding Bitcoin. Schiff’s comments caught Brandt’s attention, who highlighted the stark contrast in attendance figures between Bitcoin and gold conferences, and responded, “That’s because most of the gold bulls have died off.”

In a bold declaration at the Bitcoin Conference 2024, Robert F. Kennedy Jr. announced that if he is elected the President, he would sign multiple executive orders on his first day in office to integrate BTC into the U.S. economic strategy. He announced the inception of a Bitcoin reserve if elected and claimed that the U.S. government would buy 550 BTC daily under his leadership. However, Peter Schiff criticized this labeling Kennedy’s plan as a ‘vote-buying’ strategy. He suggested that the candidate is attempting to attract BTC enthusiasts by promising to use taxpayer funds to buy Bitcoin and eliminate income taxes on Bitcoin gains.

U.S. Sen. Tim Scott, the top Republican on the Senate Banking Committee who may be in position to be its next chairman, argued at a Bitcoin 2024 appearance on Friday that the government should make it easy for the crypto industry to innovate in the U.S. While he stayed relatively quiet on crypto, he broke the silence with his lively crypto debut at Bitcoin 2024 in Nashville, where he shouted the merits of digital assets. He also spoke of having to get rid of the folks who are in the way, speaking alongside Senator Cynthia Lummis, criticizing SEC Chair Gary Gensler as a crypto-policy roadblock.