Markets

Chinese e-commerce giant Alibaba has confirmed plans to split into smaller groups to allow each one pursue independent IPO. Alibaba Group Holding Limited (NYSE: BABA) recently announced plans to split into 6 business units, each capable of pursuing an IPO. According to the Chinese e-commerce giant, the move seeks to “unlock shareholder value and foster market competitiveness.” The Alibaba IPO-focused split also represents the most significant reorganization in the Hangzhou-based...

CZ recently rebuffed the CFTC complaint calling for a permanent US injunction against Binance and its executives. Binance CEO Changpeng ‘CZ’ Zhao has responded to the Commodity Futures Trading Commission (CFTC) complaint against the exchange. Responding to the federal agency’s call for a US injunction against Binance, CZ raised several issues alleged in the complaint. CZ also said that the CFTC filed the “unexpected and disappointing civil” complaint despite Binance’s prior cooperation...

As far as the EU is concerned, it is gradually advancing in its crackdowns on the crypto industry through functional regulation. The European Union (EU) is set to vote on a new set of Anti-Money Laundering (AML) laws that may impose some significant restrictions on transactions involving the crypto market. According to recent clarifications given by Damien Carême, a French lawmaker from the Green party, the new restrictions will be based on scenarios where the sender cannot be identified....

Since the time of the auction and the bidding process, US regulators have expressed a lack of confidence in the sale of the company to Binance. Judge Jennifer Rearden, a new Federal Judge for the US District Court in New York has temporarily halted the proposed sale of Voyager Digital to Binance.US. According to the judgment passed, the proposed $1 billion sale will now only be concluded once a decision has been made concerning the final details of the bankruptcy proceedings. The decision...

ADA price is trading in a bearish zone below the $0.356 support zone against the US Dollar. The price is now trading below $0.356 and the 55 simple moving average (4-hours). There was a break below a key bullish trend lien with support at $0.3480 on the 4-hours chart (data feed via Coinbase). The price could continue to move down if it stays below the $0.3560 resistance zone. Cardano price is struggling below $0.356 against the US Dollar, similar to bitcoin. ADA price...

Ethereum price is struggling to climb above the $1,800 resistance against the US Dollar. ETH price is now trading below $1,750 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1,740 the 4-hours chart (data feed from Coinbase). The pair could continue to move down if it breaks the $1,700 support zone. Ethereum price is declining below $1,750 against the US Dollar. ETH/USD remains at a risk of more downsides...

Hundreds of millions of dollars in crypto was withdrawn from Binance shortly after the exchange was slapped with civil charges by US regulators on Monday, on-chain data shows.  According to Nansen, the exchange has experienced $400 million in net outflows over the past 24 hours alone. By comparison, Binance has undergone over $2 billion in outflows over the last seven days, meaning Monday was above average.  Meanwhile, entities Nansen calls “smart money” traders withdrew at...

A US Federal regulatory agency just filed a lawsuit against Binance – the world’s largest crypto exchange – for a sweeping range of regulatory violations, spooking Bitcoin back down to $27,000.  Here’s what the Commodities and Futures Trading Commission (CFTC) believes the company and its CEO, Changepeng Zhao (CZ), are guilty of. Binance’s Violations According to the CFTC’s complaint, Binance has accepted orders and facilitated trade involving multiple digital assets for...

Since the collapse of Silicon Valley Bank, several industry stakeholders have been doing all they can to help cushion the pangs in the firm to help prevent it from collapsing. Regional banks in the United States might have recorded their worst month ever this March, the surviving ones, including First Republic Bank (NYSE: FRC). At the time of writing, the shares of First Republic have jumped by 15.72% to $14.28 in a move that appears as though it wants to start paring off the losses it has...

Gold may finally be prepped to break past its $2000/oz resistance and shatter its reputation among crypto bros of being a “Boomer Rock” in 2023, according to macro strategist Mike McGlone of Bloomberg Intelligence.  The analyst believes that as the macroeconomic environment gets worse, investors are once again retreating to gold as a safe haven – alongside US Treasuries and Bitcoin.  Gold’s Return to Form In a shared excerpt from McGlone’s Bloomberg Terminal report, the...