Binance Settlements Could End Death-Spiral Fears – And Might Be Good News
The crypto exchange Binance’s expensive deal with U.S. prosecutors this week bears harsh consequences, but could mean a positive outlook for the company in the long term.
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The crypto exchange Binance’s expensive deal with U.S. prosecutors this week bears harsh consequences, but could mean a positive outlook for the company in the long term.
Paysafe, the crypto exchange’s former service provider for euro transfers ended support last month.
Crypto exchange EDX Markets, which is backed by Wall Street giants including Citadel Securities and Charles Schwab, tapped Anchorage Digital to provide custody for its clearinghouse business set to launch later this year.
Screenshot from “Crypto & Beach Houses” video (Bitget/Youtube)
A report circulated on Twitter on Tuesday that the exchange plans to eliminate 30% of its workforce amid declining profit.
Still, bitcoin miners’ inventory sales climbed to a record as they took advantage of the cryptocurrency’s strong performance, the report said.
The company plans to expand in Asia-Pacific (APAC), a region it sees as driving the “next wave of growth for crypto.”