2023-06-06 07:00:52
Cryptocurrency exchange leader Binance and its CEO CZ (Changpeng Zhao) were sued by the U.S. Securities and Exchange Commission (SEC) last night. Will be getting into some altcoins at this point.
(Recap:Arthur Hayes shouted: Be patient, the “real Bitcoin bull market” will start in Q4）
(background supplement:What are the cryptocurrency “billionaires” investing in?Look at the wallets of Arthur Hayes, Justin Sun..）
addThe cryptocurrency market ushered in heavy news last night. The US Securities and Exchange Commission (SEC) filed as many as 13 lawsuits once morest the leading cryptocurrency exchange, Binance, its US subsidiary BAM Trading Services Inc. (BAM Trading), and founder Zhao Changpeng. Allegations of Violations of Securities Laws.
However, in the SEC’s lawsuit once morest Binance, the cryptocurrencies listed as securities include but are not limited to BNB, BUSD, and a variety of popular altcoins. As soon as this news came out, the Binance platform currency $BNB plummeted from above $300 to $270 The prices of the US dollar, $BTC, and $ETH plummeted together, and the prices of other altcoins fell more severely, while the emerging public chain $SUI even fell by more than 16%.
Further reading:CZ declares war: SEC lists SOL, ADA, MATIC.. as securities, we need to “unity once morest the enemy”
Arthur Hayes: Will buy altcoins
Arthur Hayes, the co-founder of BitMEX, talked a while ago that the Bitcoin bull market is coming in Q3. He is optimistic regarding the trend of the cryptocurrency market in 2024, and even predicts that the price of Bitcoin may break 70,000.
In terms of the overall economy, theU.S. inflation will bottom out and begin to rise slowly. Although there is still a possibility of raising interest rates, once the interest rate may approach 6%, the higher interest rate will increase in RRP (reverse repurchase) and IORB (interest on reserve interest rate) interest paid on the balance, which in turn increases the amount of money the Fed prints.
His thoughts on Binance being charged by the SEC continue to remain positive,said on twitter：
Markets fall on Binance FUD. But whatever the catalyst, risk markets are on edge due to the TGA restart. By the end of the summer, the market will cross this threshold and enter the background of heavy money printing. At the same time, I have to start with “shitcoins”.
Although Arthur Hayes did not specify which altcoins will enter the market, the community speculates whether it is the cryptocurrency listed as a security yesterday, including SOL (-7.7%), ADA (-6.5%), MATIC (-6.3%) , FIL (-7.6%), ATOM (-6.6%), SAND (-11.8%), MANA (-9.2%), ALGO (-9.1%), AXS (-6.3%) and COTI (-9.1%). As of press time, these counterfeit currencies have fallen by at least 6% in 24 hours.
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