Binance Supply Contracts 60% After SEC Crackdown
Ripple Holds Talks With 20 Central Banks on CBDCs
The Year 2023 is proving to be an action-packed one for cryptocurrencies. While Bitcoin (BTC) and Ethereum (ETH) started the new year with an impressive rally, Big Eyes Coin (BIG) is roaring on the back of a successful presale, which has jumped past the psychological barrier of $31 million.
Big Eyes Scales Yet Another Milestone
The presale phase has become a honeymoon period for Big Eyes Coin, scaling new highs with each passing day. In the latest development, BIG has surpassed $31 million in presale, which is in the 12th stage now.
Big Eyes is making rounds in international media with the release of its innovative promotional tool, “Loot Boxes.” It is a relatively new idea in the world of cryptocurrencies, but it presents a fantastic opportunity for buyers to make more money out of their investments in Big Eyes Coin.
After their successful stint in the gaming world, loot boxes have finally made their crypto world debut. The loot boxes allow people to get exposed to exciting rewards, and that too without any risk of losing their hard-earned money. Consumers can participate in the loot box promotion with all the confidence in the world. So, join Kitty Cuddlers today and give your money the best chance to multiply.
Torrid Times for Binance and Ripple
The lady luck doesn’t seem to smile for Binance (BNB) and Ripple (XRP), as both have faced the music in recent months. Ripple has a hearing pending with the US Securities and Exchange Commission (SEC), whereas Binance is experiencing a contraction in its Binance USD supply after the SEC crackdown. What lies ahead for them? Let’s explore:
Binance Supply Contracts 60% After SEC Crackdown
Over the past month, investors have withdrawn more than $6 billion from a Binance-associated digital token. It indicates that the recent US crackdown on digital assets is having an impact on the world’s largest crypto exchange.
The New York financial regulator recently stopped issuing the stablecoin BUSD due to concerns over Binance’s relationship with Paxos, the company that creates the dollar-pegged token, resulting in a significant decrease in BUSD in circulation.
This outflow could negatively affect Binance’s financial performance, as BUSD is a vital aspect of the business, according to analysts.
US regulators have increased their scrutiny of the crypto industry, with a particular focus on stablecoins, which enable investors to switch between digital tokens without having to withdraw their money in fiat currency.
Following the New York crackdown, Binance has said that BUSD trading volume will shift to other stablecoin pairs. Additionally, Binance’s CEO announced plans to reduce potential investments in the US following a series of enforcement actions against crypto companies by the US Securities and Exchange Commission.
Ripple Holds Talks with 20 Central Banks on CBDCs
Ripple is another cryptocurrency that has found itself on the receiving end of the US Securities and Exchange Commission in recent weeks.
Brooks Entwistle, Ripple’s Senior Vice President of Customer Success and Managing Director of APAC and MENA, has spoken about the latest developments.
In a recent interview, Entwistle discussed the company’s efforts and vision in the Central Bank Digital Currency (CBDC) space, providing some intriguing insights.
According to Entwistle, interaction with regulators worldwide is incredibly valuable, with regulators in Singapore, Tokyo, Switzerland, and the UK welcoming dialogue and participating in roundtable discussions, in contrast to the US.
Ripple views itself as a solution provider to which central banks and authorities can turn, with Entwistle stating that the fintech is already in talks with over 20 central banks worldwide.
Entwistle cited projects with Bhutan and Palau as examples of Ripple’s work in emerging markets, where the company can assist.
Ripple is focusing on the international market due to regulatory challenges in the US, with most of its 300 new employees hired last year based in foreign markets.
Claim BIG Bucks Before They’re Gone
Big Eyes Coin is going big with its presales promotional gimmick of ‘tool boxes’, and users have the best chance of making more money from it. If you’re yet to act, you’re surely missing out on some guaranteed rewards. Get your hands on BIG loot boxes before they are all gone.
The year 2023 has been eventful for cryptocurrencies, with Bitcoin and Ethereum starting the year strong and Big Eyes Coin (BIG) scaling new highs through its successful presale.
The innovative promotional tool of “Loot Boxes” has gained media attention and provides an opportunity for buyers to make more money without risking their investments.
Binance and Ripple have faced challenges, with Binance experiencing a contraction in its Binance USD supply and Ripple having a hearing pending with the US Securities and Exchange Commission (SEC).
Despite this, Ripple is focusing on the international market and has already spoken with over 20 central banks worldwide.
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