Cryptocurrency

Binance Secures Broker-Dealer License in Brazil

Thursday. January 2 at 7:00 PM

1 min. read

Binance has achieved a significant milestone by becoming the first crypto exchange to obtain a broker-dealer license in Brazil. The approval from Banco Central do Brasil marks the 21st global regulatory authorization for Binance, showcasing a major step towards crypto adoption in Latin America. This license allows Binance to acquire São Paulo-based investment platform Sim;paul, enabling the distribution of securities and issuance of electronic money. With a 24-hour trading volume exceeding $18.2 billion, Binance leads the top crypto exchanges, surpassing competitors like Bybit. As the story develops, more details will be provided. Stay informed on crypto laws and regulations by subscribing to the Law Decoded newsletter for valuable insights and updates.

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XRP Price Analysis and Whale Activity

Sunday. January 5 at 1:00 AM

XRP's price has been consolidating with a minimal 2.2% growth in the last month. Despite a golden cross formation indicating potential bullish momentum, whale activity shows a lack of accumulation, possibly hindering further price increases. The Chaikin Money Flow remains positive but has slightly cooled, suggesting XRP's next moves depend on breaking above $2.53 or succumbing to bearish pressures near $2.33. The number of XRP whales holding between 10 million and 100 million XRP has decreased to 296, the lowest since December 24. This decline in whale numbers may signal bearish sentiment among major investors, impacting XRP's short-term price. The positive CMF reflects growing investor confidence, indicating potential stability or moderate gains in the short term. However, if support at $2.33 fails, XRP could face increased selling pressure towards $2.13. On the other hand, breaking above $2.53 could target $2.72 next.

Cryptocurrency

Bitcoin Market Cap Recovery

Saturday. January 4 at 9:00 PM

Bitcoin (BTC) is striving to regain its $2 trillion market cap with growing bullish momentum. Recent technical indicators like DMI and RSI show a strengthening uptrend, emphasizing the need for consistent buying activity to sustain upward pressure. BTC's EMA lines hint at a potential golden cross, possibly driving the price towards critical resistance levels near $98,870 and beyond. Failure to breach these levels could lead to a pullback, with key support zones at $90,700 and $88,000 becoming important. The DMI chart reveals a significant rise in BTC's ADX to 27.3, indicating a strong uptrend and increased market confidence. The RSI at 60.47 suggests a bullish territory, but a pullback may occur without renewed buying activity. EMA lines crossing indicate a potential uptrend, with a breakout above $98,870 opening doors for further gains. However, failure to break resistance levels could lead to downside pressure, possibly retesting support at $90,700 and $88,000.

Cryptocurrency

BlackRock's Bitcoin ETF Records Largest Outflow Since Launch

Saturday. January 4 at 9:00 AM

BlackRock's iShares Bitcoin Trust (IBIT) recently experienced its biggest outflow since its inception a year ago, with a record $332.6 million leaving the spot Bitcoin exchange-traded fund on Jan. 2. This marks the third consecutive day of outflows for the product, totaling $392.6 million over the past week. Despite this, BlackRock remains a top contender in the ETF market, ranking third for inflows in the US in 2024. While competitors like Bitwise and Fidelity saw inflows on Jan. 2, BlackRock canceled out these gains with a total outflow of $242 million. Looking ahead, ETF Store president Nate Geraci predicts significant developments in crypto ETFs for 2025, including combined spot BTC and ETH ETFs, options trading for spot ETH ETFs, and the approval of a spot Solana ETF.

Cryptocurrency

India Collaborates with Tech Giants to Combat Crypto Scams

Saturday. January 4 at 8:00 AM

India has stepped up efforts to tackle crypto scams by teaming up with tech giants Google and Meta (formerly Facebook). The Ministry of Home Affairs' 2024 annual report highlighted the partnership aimed at fighting the growing menace of 'pig butchering' scams. These fraudulent schemes target vulnerable groups like unemployed youth, housewives, and students, promising high returns on crypto investments. Scammers use social media and search engines to lure victims, resulting in losses of $3.6 billion in 2024. To counter this, the Indian Cyber Crime Coordination Centre (I4C) collaborates with Google and Meta to identify and remove malicious content swiftly. Additionally, training programs on blockchain analysis have been initiated to enhance law enforcement's investigative capabilities. The National Cybercrime Reporting Portal (NCRP) facilitates quick resolution of crypto scam cases. India's active involvement in international efforts, including cooperation with the FATF, aims to strengthen global standards against crypto-related crimes.

Cryptocurrency