Global Hive Buzz

Binance Positioned to Settle $4.3 Billion DoJ Fine Without Crypto Liquidation

Binance, the cryptocurrency exchange, is anticipated to have ample funds to cover the entire $4.3 billion fine imposed by the US Department of Justice (DoJ) without resorting to the sale of its crypto assets, estimates Conor Grogan, Director at Coinbase.

Binance's latest proof of reserves report reveals holdings of approximately $6.35 billion in total corporate crypto assets, which includes $3.19 billion in stablecoins. This calculation excludes any off-chain cash reserves or crypto assets held in wallets not covered in the proof of reserves.

The plea agreement marks the conclusion of a lengthy investigation into Binance's business operations. Alongside the substantial fine, Changpeng Zhao, Binance's CEO, has agreed to step down from his executive role and will undergo sentencing at a later date.

Unlock Your Home's Equity Without Raising Your Mortgage Rate

As home values experience a significant uptick nationwide, homeowners in the U.S. are leveraging their equity to access funds. The beauty of this approach is that homeowners with existing low rates can borrow money without affecting their current mortgage rate.

Whether you require cash for home improvements, debt consolidation, or a vacation, the process is straightforward. Begin today, and in just two minutes, you can receive a quote. Many homeowners qualify for substantial amounts, with some accessing over $200,000.

Crypto Futures Liquidations Surpass $200 Million Amid Binance Settlement and Bitcoin Dip

The recent settlement between Binance and the U.S. Securities and Exchange Commission (SEC) triggered a market downturn, impacting futures traders who were anticipating further market growth.

CoinGlass data reveals that crypto perpetual futures positions totaling $227 million were liquidated in the past 24 hours, with bullish long positions constituting nearly 80% of this amount. Additionally, over $67 million worth of bitcoin longs and shorts, representing bets on both price increases and decreases, were liquidated during this period, marking one of the most significant liquidation events in 2023.

Liquidations occur when traders are unable to meet margin requirements for leveraged positions, and the scale of liquidations can offer insights into potential turning points in the market.

Bitcoin Price Analysis and Forecast for 2023

Bitcoin (BTC) has exhibited resilience, rebounding above the $37,000 mark after a dip to $35,000 on Nov. 15. Despite a recent slide influenced by the lack of significant developments in the spot Bitcoin exchange-traded fund (ETF) and broader macroeconomic factors, BTC has maintained a bullish outlook.

Over the past weeks, Bitcoin has displayed a pattern of higher lows and higher highs, characteristic of a bull phase. As of Nov. 21, Bitcoin's price hovers around $37,000, facing challenges in establishing a stable support level.

The 50-day exponential moving average (EMA) indicates a bullish market, and Bitcoin is currently trading within a sideways channel between $36,000 and $38,000. CoinCodex's short-term Bitcoin price prediction suggests a value of approximately $54,343 by Nov. 29, reflecting a positive outlook.

However, given the cryptocurrency market's volatility, caution is advised when considering such forecasts. Do you believe this prediction is realistic, or is it merely a hopeful projection?

Anchor Your Portfolio in Reality.

In a world witnessing population growth and an escalating demand for food, investing in farmland emerges as a remarkable opportunity.

Farmland's historical performance has stood the test of time, consistently delivering positive returns even during economic downturns.* While conventional financial markets may experience volatility, farmland stands as a resilient, long-term alternative asset with a noteworthy track record of low volatility and minimal correlation to equities.

AcreTrader offers a convenient platform for you to cultivate your portfolio, enjoying the benefits of a hedge against market fluctuations firmly rooted in the very ground beneath us.

MEME OF THE DAY