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Important Binance Announcement Affecting Numerous Altcoin Traders

TL;DR Binance’s delisting announcement has been followed by double-digit price declines for the affected assets. In contrast, the company’s addition of new trading pairs often leads to significant price surges, as seen with numerous altcoins in the recent past. The Delisting Spree The world’s largest cryptocurrency exchange decided to remove several margin trading pairs from its platform. According to the official announcement , LIT/BTC, NULS/BTC, SFP/BTC, BEL/BTC, LIT/BTC, LSK/BTC, NULS/BTC, and SFP/BTC will become unavailable to clients from January 16 . “Effective immediately, users will no longer be able to transfer any amount of assets of the aforementioned pair (s) via manual transfers and Auto-Transfer Mode into their Isolated Margin accounts. If users hold outstanding liabilities of said tokens, these users may only manually transfer up to the amount of liabilities of that token into their Isolated Margin accounts, less any collateral already available,” the company explained. Additionally, Binance will delist the spot trading pairs AXL/FDUSD, C98/BTC, and ENJ/ETH on January 10 . The company periodically conducts such amendments “to protect users and maintain a high-quality trading market.” It takes several factors into consideration when removing trading pairs, including poor liquidity and trading volume. Withdrawing support from a major crypto exchange like Binance typically has a negative effect on the prices of the affected digital assets since it causes reputational damage and limited accessibility (among other setbacks). Literally, all involved cryptocurrencies in the delisting efforts have headed south in the past 24 hours, with many experiencing double-digit declines. It is worth noting that the correction of the broader digital asset market could have also contributed to their poor performance. Recall that Bitcoin (BTC) soared above $102,000 on January 7, but several hours later, it nosedived by more than seven grand. Currently, it trades at around $95,500, while Ethereum (ETH) plunged below $3,400. The crash resulted in over $700 million in liquidations, as approximately 90% of the wrecked traders had opened long positions. The Opposite Effect Besides removing certain trading pairs, Binance also often adds new ones to respond to ongoing market trends and enhance its services. The involved cryptocurrencies usually witness a substantial price resurgence following those actions . Such was the case in November last year when the company listed Cow Protocol (COW) and Cetus Protocol (CETUS). Both assets saw their valuations skyrocketing by 70% shortly after the disclosure . Several weeks ago, the meme coin launched on the BNB chain – Simon’s Cat (CAT) – also pumped significantly. This happened mere hours after Binance included it in its HODLer Airdrops Portal. The post Important Binance Announcement Affecting Numerous Altcoin Traders appeared first on CryptoPotato . CoinOtag

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Investigators to Search Through Do Kwon’s Personal Emails, Twitter Messages and Mobile Devices in Terra Case

New court documents reveal that authorities plan to search through disgraced Terra (LUNA) founder Do Kwon’s personal emails, social media accounts, financial records, and more. According to a new court memo, investigators say they will sift through massive amounts of Kwon’s personal data to gather evidence against him. “The Government anticipates that Rule 16 discovery in this matter will be voluminous, consisting of multiple terabytes of data. The discovery will include the following categories, among others: Search warrants, related affidavits, and materials seized pursuant to those warrants. Some of those warrants relate to accounts or devices used by Kwon, including his business and personal email accounts, his Twitter account, and four of his electronic devices.” Other data that prosecutors will look through include the business records of Terra employees, its partners and investors, trading records from crypto exchanges and written recorded public statements made by Kwon. Kwon, who was recently extradited to the US from Montenegro, is accused of defrauding investors, money laundering and conspiracy related to the multibillion-dollar downfall of the Terra ecosystem and its native tokens, TerraUSD and LUNA. He was initially arrested in Montenegro in March 2023 after he attempted to board a flight to the United Arab Emirates with a fake Costa Rican passport. He was held in Montenegro until the nation’s highest court ruled that he was to be extradited to the US. He is also wanted in his homeland of South Korea for similar charges. If convicted, he potentially faces decades in prison. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/GarryKillian/WindAwake The post Investigators to Search Through Do Kwon’s Personal Emails, Twitter Messages and Mobile Devices in Terra Case appeared first on The Daily Hodl . CoinOtag