There have already been more than 1 million sign-ups for Coinbase’s nonfungible token (NFT) platform since the waitlist went live on Tuesd. Coinbase opened up the waitlist via a blog post announcing its upcoming NFT platform, which is slated to launch later this year. The platform, dubbed “Coinbase NFT,” will initially support the Ethereum-based ERC-721 and ERC-1155 token standards, with plans to expand support to other blockchains in the future. At the time of writing, there are almost 1.1 million people waiting for early access to the NFT platform. Sanchan Saxena, vice president of product at Coinbase, tweeted that the …

The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pattern with an upside target of $560. Dubbed as Cup and Handle, the pattern appears when the price forms an advance that appears like a U-shaped trend (Cup). That follows up with a formation of a descending channel range (Handle). A breakout above the Handle range typically leads to an upside continuation, with a bullish target at a length equal to the Cup's size. So it appears that BNB has undergone a price trajectory that looks like the Cup and Handle pattern. Furthermore, the …

Binance crypto exchange officially announced on Wednesday that the company will delist the Chinese yuan (CNY) from its peer-to-peer trading platform on Dec. 31. Alongside terminating yuan trading pairs, Binance will continue further restricting access to its platform for users from mainland China, introducing new measures for accounts found to be linked to the region. Binance will specifically limit such accounts to “withdrawal only” mode, limiting transactions to withdrawals, redeeming and closing positions. Binance emphasized that the company “withdrew from the Chinese mainland market in 2017” and has not been engaged in exchange business in the region since. The exchange …

The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program and Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment, respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the already burgeoning areas of the technological sphere. This includes …

Under pressure from regulators around the world, major exchange Binance is looking to establish headquarters in Ireland. Until now, it has operated globally for years under what its CEO, Changpeng Zhao, has described as a “decentralized” structure. A Wednesday report from Irish media outlet Independent noted that Binance had established three subsidiaries in the country on Sept. 27 — Binance (APAC) Holdings, Binance (Services) Holdings and Binance Technologies — with Zhao listed as the director for each. In an interview with Reuters published on Thursday, Zhao stated that Binance is currently “in the process of establishing a few headquarters in …

In stock markets and the crypto sector, traders are always looking for a definite reason to explain an asset’s price action, which means it’s important to stress that correlation doesn’t imply causation. While it may be easy to connect a regulatory statement or pending legislation to the outcome of an asset’s price, there’s not always hard proof that these were the exact drivers. Some indicators described below may have happened due to pure luck, even if the coincidence continues throughout history. For example, Bitcoin’s (BTC) pump to $48,200 on Oct. 1 could have been related to the Sept. 30 remarks …

Cryptocurrency exchange Binance has hired a former United States Internal Revenue Service agent to head its new intelligence division, a strong indication that the company is looking to bolster its compliance resources. Tigran Gambaryan joins Binance as vice president of global intelligence and investigations, the company announced Thursday. Binance is Gambaryan’s first private-sector employer since he joined the IRS as a special agent in September 2011. During his time at the IRS, Gambaryan investigated cases involving national security, terrorism financing, tax evasion and identity theft. He was also involved in the investigation of Silk Road, a dark web marketplace that …

Uniswap (UNI) prices staged a solid rebound after crashing last week in the wake of China’s decision to intensify its anti-Bitcoin (BTC) and cryptocurrency rhetoric. UNI price gained 14.90% on Monday to reach an intraday high of $26.26. UNI/USD’s climb came a day after it dropped to a monthly low of $17.63. As a result, it churned out more than 48% profits for the dip buyers within the last 24 hours. Adoption FOMO UNI serves as a governance token inside Uniswap’s decentralized exchange (DEX) ecosystem. As a result, its holders get to vote on matters that help steer the future …

Binance has announced some changes to its crypto trading services for customers in Singapore. According to a statement on its website published on Monday, Singapore-based users will be geo-fenced from certain account functions on the Binance.com website. Binance users in Singapore will no longer have access to fiat deposits, crypto spot trading, liquid swap and crypto purchases via fiat channels on the website. “We will be restricting Singapore users in respect of the Regulated Payments Services in-line with our commitment to compliance,” the statement added. Based on the new directive, Binance users in Singapore have been urged to cease all …

Stablecoins have emerged as significant players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency times. These currencies are defined as a type of digital currency that can be pegged to underlying real-world assets or backed by them. These assets can be anything from fiat money, commodities like gold or silver, or even another cryptocurrency. As their name suggests, stablecoins are designed to have a value that stays (rather) stable like cash, a contrast to the volatility common in cryptocurrency trading today. To further illustrate this scenario, a typical fiat-backed stablecoin might involve …

Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia. Existing Binance users in Australia will have 90 days to reduce and close their positions for products such as cryptocurrency futures, options and leveraged tokens, the exchange announced Monday. Effective from Friday, Australian users will no longer be able to increase or open new positions for derivatives products on Binance. Users will still be able to top-up their margin balances to prevent liquidations and margin calls, the announcement notes. After Dec. 23, Binance users in …

Bitcoin (BTC) investors seem concerned about the increasing speculation that China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts. These fears manifest in global equities markets, which saw a 1.5%–3% drop at this morning’s market open. Despite the price move, the BTC outflow (net withdrawals) from exchanges has continued a multi-month trend, particularly on Coinbase Pro. Traders also know that every exchange has a different user profile. For example, liquidations on Bybit tend to be more extreme when compared to FTX, which is known for having more conservative clients. Take, for example, Tuesday’s drop below …