2023-11-15 17:46

Binance Japan, under the leadership of CEO Takeshi Chino, has announced an expansion of its cryptocurrency offerings, adding 13 new tokens to its platform. The move increases the total number of digital assets available on the exchange from 34 to 47. The newly added tokens include Hedera Hashgraph (HBAR), Near Protocol (NEAR), and others that have been approved by the Japan Virtual and Crypto Assets Exchange Association (JVCEA) and are already listed on other Japanese platforms. This development is part of Binance's broader goal to offer 100 tokens in Japan and drive Web3 adoption in the country. The expansion comes at a time when other major exchanges like Kraken and Coinbase (NASDAQ:COIN) have exited the Japanese market. Japan's rigorous regulatory environment played a key role in protecting customers of FTX Japan during the recent bankruptcy of its parent company. General Manager Takeshi Chino views this as a significant step towards achieving their target of supporting 100 tokens for local traders, capitalizing on Binance's global expertise and blockchain infrastructure. Binance had previously left Japan in 2018 due to regulatory challenges but re-entered the market in August 2023 after acquiring Sakura Exchange BitCoin. This marked a return as a regulated entity, coinciding with Prime Minister Fumio Kishida's push for expanding the digital asset ecosystem within Japan. https://www.investing.com/news/cryptocurrency-news/binance-japan-expands-offerings-with-13-new-tokens-93CH-3235498

2023-11-15 17:33

NEW YORK - In a striking display of resilience, the cryptocurrency Solana (SOL) experienced a significant surge today, soaring 17.88% to reach $62.07. This impressive rally outshined Bitcoin, alongside a notable 12.65% increase in trading volume. The ascent to an 18-month high comes despite the recent turmoil surrounding FTX, a major cryptocurrency exchange. The robust performance of Solana can be attributed to several key factors that have bolstered investor confidence: Over the past week, Solana has seen a remarkable growth of 45%, coupled with a monthly surge of 173%. This trend underscores its strong year-to-date performance which stands out even more when considering the broader market challenges. Investors are closely monitoring Solana's trajectory as it navigates through its price discovery phase with newly set objectives. The digital currency aims to recoup its previous 76.24% loss and eventually target its all-time high (ATH) of $260. Notably, the potential impact of FTX's asset liquidation has not adversely affected Solana's price stability. The market is looking forward with anticipation to what has been projected as the "biggest payday of the year" for the cryptocurrency, indicating a bullish outlook for its near-term prospects. https://www.investing.com/news/cryptocurrency-news/solana-jumps-1788-to-6207-hitting-18month-peak-93CH-3235492

2023-11-15 16:58

The Delaware Department of Justice is investigating a fraudulent XRP exchange-traded fund (ETF) filing that falsely suggested an association with BlackRock Inc (NYSE:BLK). This misleading filing led to a temporary increase in the value of XRP, a cryptocurrency that has been subject to significant legal scrutiny in recent times. The bogus ETF application on Monday mimicked official documents of BlackRock's authentic iShares Ethereum Trust, sowing confusion and prompting a brief surge in XRP's price by nearly 13%. The false information was circulated via social media, causing the price of XRP to jump from $0.65 to $0.75 before the claims were refuted and the price settled at around $0.63. BlackRock, which oversees more than $8 trillion in assets and has previously filed for Bitcoin and Ethereum ETFs, quickly denied any involvement with the XRP filing. A spokesperson for the company stressed that the paperwork related to the fraudulent filing was not legitimate. The investigation into this incident revealed that the fraudulent application was easily submitted through an interactive PDF form on the Delaware Department of State's website, requiring only a registered agent in Delaware. The fraudster had copied details from BlackRock director Daniel Schwieger's LinkedIn profile. This event comes at a time when the SEC has been inundated with Ether futures ETF applications, receiving 11 in just one week. It also follows Ripple's victory in a landmark lawsuit with the SEC, which had previously led to stability in XRP's price. Market analysts have compared this situation to previous pump-and-dump schemes, such as the Walmart-Litecoin fiasco. The Delaware Department of State confirmed that they referred the case to the Justice Department for further investigation. The state department spokesperson emphasized Delaware's commitment to providing clarity on this matter as investors and market watchers await further developments. https://www.investing.com/news/cryptocurrency-news/delaware-doj-probes-sham-xrp-etf-filing-amid-market-confusion-93CH-3235472

2023-11-15 16:06

LONDON - In a decisive move to ensure fairness in fuel pricing, the UK government has enhanced the powers of the Competition and Markets Authority (CMA), mandating greater transparency among fuel retailers. This action follows a report revealing that supermarkets had significantly inflated fuel prices in 2022, resulting in an additional £900 million cost to consumers. The amendments to the Digital Markets, Competition and Consumers Bill, announced today, require fuel retailers to be clear about their pricing or risk facing penalties. These penalties can be substantial, amounting to 5% of daily turnover for those failing to comply. The CMA's inaugural road fuel monitoring report highlighted possible market malpractices, singling out Shell (LON:SHEL) and Moto-way for not complying with information requests. In response to these findings, Energy Security Secretary Claire Coutinho emphasized the importance of protecting consumers from unfair price surges. The government is taking a proactive stance by considering legal mandates for daily price information sharing and consulting on an open data scheme. This would empower motorists by enabling comparison sites to assist them in finding the best local fuel prices. Twelve major retailers have already begun participating in a voluntary daily price data-sharing scheme. Minister for Energy Consumer and Affordability Amanda Solloway has expressed support for this initiative, encouraging its expansion to aid consumers further. Sarah Cardell, chief executive of the CMA, welcomed the new responsibilities, affirming the authority's role in providing regular public updates on the UK fuel market and reporting any unjustified price hikes. The Department for Science, Innovation and Technology has introduced additional amendments to the Bill. With these changes, the CMA will now have the means to actively monitor the market and ensure compliance with fair pricing regulations. The implementation of the new Bill is slated for next year, marking a significant step towards greater consumer protection and market transparency within the UK's fuel industry. https://www.investing.com/news/commodities-news/uk-government-strengthens-cma-to-enforce-fair-fuel-pricing-93CH-3235446

2023-11-15 14:19

GLOBAL MARKETS - Ethereum (ETH) has soared past the $2,000 mark for the first time since April 2023, outshining Bitcoin (BTC) in the past week's performance. The surge is largely attributed to BlackRock (NYSE:BLK)'s announcement of a potential Ethereum Spot Exchange-Traded Fund (ETF), which has fueled investor optimism. This development, alongside Ethereum's upcoming Shanghai upgrade and Bitcoin's climb to $38,000, has propelled ETH to new heights. The cryptocurrency is currently trading at $2,054, marking a significant week-on-week increase of 7%. Amidst market uncertainties, crypto enthusiasts remain hopeful for further gains. Reports from Lookonchain have highlighted substantial whale activities during the price surge. Notably, one whale realized a profit of $154 million while another incurred a loss of $183 million. The activity underscores the high-stakes nature of cryptocurrency trading. In particular, Lookonchain spotlighted a whale with the address "0xee47," who increased their Ethereum holdings by 3,200 ETH, equivalent to about $6.7 million. Their portfolio now stands at an impressive 183,740 ETH, valued near $388 million. This position represents an unrealized gain of approximately $155 million. Whale movements have been a key part of this rally narrative. Before the rally kicked off, data showed a dormant whale address transferring 26,406 ETH to Bitfinex, resulting in a significant profit as Ethereum broke through the crucial resistance level. On the day of the rally itself, heightened whale activity was observed with investors moving large amounts of ETH to exchanges such as Bitfinex. Following the rally, certain whales acquired an additional 3,200 ETH coins. Transactions exceeding one million dollars hit a seven-month peak and an increase in exchange-linked addresses was recorded, indicating substantial profit-booking activities among investors. BlackRock's confirmation regarding their plan to introduce an Ethereum Spot ETF played a pivotal role in boosting ETH's price. Over the weekend preceding the rally, a group of astute institutional investors began accumulating Ether in anticipation of this event. As investors continue to navigate the volatile crypto markets, tools like the ETH Profit Calculator have become increasingly important for assessing gains and strategizing future investments. With these latest developments and continued interest from large-scale investors, Ethereum's market dynamics remain a focal point for both seasoned traders and newcomers to the cryptocurrency space. https://www.investing.com/news/cryptocurrency-news/ethereum-surpasses-2000-milestone-on-etf-optimism-93CH-3235250

2023-11-15 13:54

Copyrighted Image by: Reuters. The South African rand has experienced a significant rally Tuesday, driven by a combination of US inflation data and shifts in global monetary policy. The currency surged over 2% to R18.22/$ amid a weakening dollar, as the latest US inflation figures suggested a potential pause in interest rate hikes by the Federal Reserve. Moreover, this quarter's inflows into South Africa have reached 17.5 billion rand ($965 million). The Bloomberg EM Local Currency South Africa Bond Index saw its most significant daily gain in four months on Tuesday and is currently trading near its highest level since July. This rally coincides with newly released economic data from South Africa indicating a decrease in Q3 unemployment to 31.9%. The combination of favorable local economic data and international market dynamics has bolstered investor confidence in the South African currency. The dollar-rand carry trade has returned 4.7% this quarter, a notable recovery after an 8.2% loss in the first nine months of the year. https://www.investing.com/news/forex-news/south-african-rand-rallies-amid-us-inflation-data-and-monetary-policy-shifts-93CH-3235210