Binance refutes Bloomberg’s report that it is considering delisting all US-based cryptocurrencies, including USD Coin (USDC). CZ, CEO of Binance, calls the report false. There has been a lot of fear, uncertainty, and doubt (FUD) in the crypto market recently, with the SEC cracking down on Paxos and Kraken, and the news about the delisting of US-based cryptocurrencies contributing to it. However, the market is still in a pretty good place with Bitcoin hovering around $24,000. It’s advisable to be cautious and do due diligence before investing, especially buying on an uptrend as the market moves rapidly.
Is Binance Really Considering Delisting US-Based Cryptocurrencies?
According to Bloomberg, Binance is considering delisting all cryptocurrencies based in the United States, including USDC. However, this news has been dispelled by CZ, who stated that it is false. In this article, we will discuss how likely it is for Binance to delist US-based cryptocurrencies and delve into some market updates.
Bitcoin Drops by 1.5% Over the Last 24 Hours
Despite the overall market’s bearish outlook, Bitcoin has only dropped by 1.5% over the last 24 hours. The Fed has been talking down the market by stating that they cannot rule out 50 basis points, and this has caused people to worry. Moreover, more tech layoffs are being reported, adding to the market’s overall concerns.
SEC Crackdown on Paxos and Kraken
The SEC recently cracked down on Paxos, ensuring that they do not issue more BUSD on Coinbase. At the same time, Kraken had to pay a $30 million fine and shut down their staking feature. This has created uncertainty about what the SEC will do next and its impact on cryptocurrencies in the US.
Dispelling The False News About Binance Delisting US-Based Cryptocurrencies
Bloomberg reported that Binance was considering delisting all US-based cryptocurrencies, but CZ has dispelled this news, stating that it is false. Many tokens on the Binance platform are crucial and important, such as USDC. Additionally, Binance is looking for bank sponsors and a new stable coin, making it unlikely for them to delist US-based cryptocurrencies.
Market Updates and Outlook
Bitcoin has made a big move back up to around $24,000 after falling to $23,000 yesterday. The market looks pretty bullish, but it is crucial to do due diligence and be cautious when buying crypto. Cooling off after big moves is normal, and people must not ape in at the wrong time.
In conclusion, the news of Binance considering delisting US-based cryptocurrencies is false, which is good news for the crypto community. Market updates show a bullish outlook, but people need to be cautious and do their due diligence before buying crypto.