Author: Andrei Ionescu

Binance Futures is expanding its offering with the launch of the RPL/USDT Perpetual Contract, scheduled for September 9, 2024, at 12:30 (UTC). Traders will be able to leverage their positions by up to 75x, providing more opportunities for both risk management and potential returns. Key Features: Binance also highlighted that contract specifications—such as funding fees, tick size, and leveragemay be adjusted periodically based on market conditions. Users should stay informed about possible changes to ensure optimal trading strategies. Multi-Assets Mode: For added flexibility, Binance’s Multi-Assets Mode allows users to trade the RPL/USDT Perpetual Contract using various margin assets, such as…

Tether, the issuer of the world’s largest stablecoin, USDT, has revealed its latest investment, channeling $102 million into South American agricultural giant Adecoagro SA. The move, made between July 29 and August 16, sees Tether purchasing 9.8% of Adecoagro’s outstanding shares, making it the third-largest shareholder in the Nasdaq-listed company, according to filings. Adecoagro, one of Argentina’s largest producers of milk and rice, also operates in sugar cane farming and renewable energy in Brazil, as well as planting crops like soybeans and corn across Argentina and Uruguay. The company currently holds a market capitalization of just under $1.2 billion. A…

Bitcoin’s 200-day simple moving average (SMA), a widely recognized indicator of the cryptocurrency’s long-term trend, is on the verge of losing its bullish momentum. This stall comes just ahead of the release of critical U.S. nonfarm payroll (NFP) data, which is expected to influence the Federal Reserve’s interest-rate outlook. Data from TradingView shows that since late August, Bitcoin’s 200-day SMA has averaged a daily increase of less than $50, a significant drop from the $200-plus moves seen earlier this year. As of now, the 200-day SMA stands at $63,840, with Bitcoin trading at $55,880. This reduced variability marks the first…

As artificial intelligence (AI) reshapes the global economy, analysts at research and brokerage firm Bernstein argue that cryptocurrency micropayments are essential to prevent financial bottlenecks in the AI-driven industry. In a note to clients on Friday, analyst Gautam Chhugani highlighted the limitations of the current global financial system, which relies on jurisdiction-specific networks like SWIFT and companies like Mastercard and Visa for transactions. These systems require identity verification for individuals and businesses, a barrier for fully autonomous AI agents, which lack human credentials. While AI agents could use human-authorized bank accounts or credit cards, Chhugani believes this would restrict the…

OKX has announced the delisting of six spot trading pairs as part of its ongoing efforts to maintain a healthy trading environment. The exchange cited its regular review of market performance and user feedback in line with the OKX Token Delisting and Hiding Guidelines. The affected trading pairs include: The delisting is scheduled to take place between 8:00 am and 8:30 am UTC on September 13, 2024. OKX advises users to cancel any open orders related to these pairs before the delisting time, as any remaining orders will be automatically canceled by the system within 1-3 business days. Additionally, deposits…

Blockchain analytics firm Chainalysis has revealed that Russia is developing a cryptocurrency-based financial infrastructure to bypass Western sanctions. According to Chainalysis’ latest policy and regulation report, the Central Bank of Russia (CBR) is leading efforts to facilitate international trade using cryptocurrencies. These initiatives follow the Russian parliament’s passage of laws legalizing crypto mining and allowing crypto for cross-border payments, signed by President Vladimir Putin on August 8. Chainalysis noted that these measures are part of Russia’s broader strategy to create alternative payment systems that reduce reliance on the U.S. dollar, especially as geopolitical tensions with the West escalate. Trial cross-border…

U.S. spot bitcoin exchange-traded funds (ETFs) recorded $211.15 million in net outflows on Thursday, marking the seventh straight day of negative flows, according to data from SoSoValue. Fidelity’s FBTC led the pack with $149.49 million in outflows, while Bitwise’s BITB followed with $30 million. Grayscale’s GBTC and its mini trust also saw significant withdrawals, with $23.22 million and $8.45 million in net outflows, respectively. No bitcoin ETF reported net inflows, with the remaining eight funds, including BlackRock’s IBIT, logging zero flows. Total trading volume across the 12 spot bitcoin ETFs decreased to $1.35 billion, down from $1.41 billion the previous…

JOJO Exchange, a decentralized exchange (DEX) specializing in perpetual futures, has integrated Chainlink Data Streams as its oracle solution on the Base mainnet. The move, announced in a press release Thursday, aims to enhance the platform’s data accuracy and transaction speed. JOJO Exchange selected Chainlink for its sub-second price latency, high data accuracy, and liquidity-weighted bid-ask spreads, which align with the exchange’s commitment to transparency and decentralization. “Chainlink Data Streams delivers ultra low-latency bid and ask data to power the JOJO protocol, allowing us to provide an advanced user experience while ensuring a robust risk framework that ultimately helps safeguard…

Decentralized finance (DeFi) protocol Synthetix is set to introduce its own blockchain, SNAXchain, on Optimism’s Superchain infrastructure. The move is designed to enhance governance and decision-making as Synthetix expands to more blockchain networks and Layer 2 solutions. SNAXchain will function as a neutral hub for governance, allowing the protocol to maintain streamlined operations across its expanding ecosystem. The project is being developed in partnership with Conduit for chain infrastructure and Wormhole for cross-chain messaging, the team announced. Optimism’s Superchain infrastructure is expected to boost interoperability for SNAXchain users and facilitate user growth, according to the Synthetix team. Optimism utilizes optimistic…

Robinhood’s cryptocurrency division has agreed to pay a $3.9 million penalty to settle an investigation by the California Department of Justice (DOJ) regarding restrictions on customer cryptocurrency withdrawals between 2018 and 2022. California Attorney General Rob Bonta announced the settlement on Wednesday, stating that the investigation found Robinhood Crypto prevented customers from withdrawing their cryptocurrency, forcing them to sell assets back to Robinhood to exit the platform. The company was also found to have misled customers by claiming it would connect to multiple trading venues to offer competitive pricing, which was not consistently the case. “Robinhood misled customers and failed…