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This week market reportour beloved hosts Joe Hall and insightful expert Sam Burgi were unfortunately unable to attend, but Marcel Peckmann is on board with the US Commodity Futures Trading Commission, Binance and Changpeng. Don’t worry, “CZ” Zhao, because I’m here to analyze everything that’s going on in between.
BREAKING: Binance and CZ Sued by CFTC Over US Regulatory Violations
US CFTC sues Binance and CEO CZ for breach of trade according to to Bloomberg reports. According to the CFTC, Binance failed to meet its regulatory obligations because it did not properly register with the derivatives regulator. Cryptocurrency exchanges have been the focus of CFTC investigations since his 2021. The exchange acknowledged in February that it would likely face regulatory action in the United States and was already working with regulators. What does this mean for the future of Binance in the US and how much will it impact Binance’s market share and the cryptocurrency market as a whole?
Bitcoin Hashrate Soars As Analysts Say Miners Are Back Online
Bitcoin’s hash rate soared to an all-time high of 398 terahashes per second (TH/s) on March 23rd. Analysts speculate that miners are starting to turn their rigs back on as the price of Bitcoin (BTC) rises. on March 26th director, Sam Wouters, a research analyst at bitcoin financial services provider River Financial, said that the surge in hash rates has been linked to unused mining inventories coming online, new facilities coming online, and entrepreneurs finding cheap mining sources. I’m assuming it’s related to that. Is there a correlation between Bitcoin’s hashrate and its price? Can we also expect a spike in Bitcoin’s price? Pechman breaks it all down.
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