Binance loses European banking partner
Binance is in need of a new European banking partner as Paysafe Payment Solutions, a global payment service provider, announced its withdrawal of support for the crypto exchange.
- SEC has no jurisdiction over Coinbase: Coinbase claims that digital assets listed on its platform are outside the jurisdiction of the U.S. Securities and Exchange Commission.
- Bitcoin and ethereum reach new heights: Bitcoin and ethereum have experienced significant price surges this year, with bitcoin reaching over $30,000, its highest level since last summer.
- BTC/USD and ETH/USD performance: The bitcoin-dollar pair skyrocketed 1.0% in the last session, while the ethereum-dollar pair rose 1.0%.
- XRP/USD and LTC/USD performance: The ripple-dollar pair gained 2.2% in the last session, while the litecoin-dollar pair exploded 1.7%.
Daily Economic Calendar
- UK Current Account: Measures the net flow of current transactions in the UK’s economy. Will be released at 06:00 GMT.
- JP Annualized Housing Starts: Captures the construction of new single-family homes or buildings annually. Key indicator of the housing market.
- DE Unemployment Rate: Measures the percentage of unemployed people in Germany. Indicates labor market strength.
- US Personal Income: Measures total income received by individuals from various sources. Will be released at 12:30 GMT.
- UK Gross Domestic Product: Measures the total value of goods and services produced by the UK. Broad measure of economic activity.
- EMU Harmonized Index of Consumer Prices: Measures price movements harmonized across EU Member States. Similar to national Consumer Price Indices.
Hot Take: Binance’s loss of its European banking partner could have significant implications for its operations. Meanwhile, the SEC’s lack of jurisdiction over Coinbase’s digital assets brings up questions about regulatory oversight. The surges in bitcoin and ethereum prices reflect the growing popularity of cryptocurrencies despite regulatory concerns. Traders should keep an eye on the performance of different crypto pairs and follow the economic calendar for key economic indicators that could impact the market.