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Rising inflationary pressures are dragging stocks and bonds, which may prompt the Fed to hike interest rates earlier than expected, an expert said. .

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SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
In what traders call a “scam wick,” the one-minute BTC/USD differed dramatically from other major exchanges, which logged a one-minute candle with a floor of around $64,200.

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Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
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Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.

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    The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)

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Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.

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These numbers are far greater than Binance.US. U.S. regulations limit the number and types of cryptocurrency that a U.S.-based company can sell to U.S. customers. As a direct result of these rules, Binance.US only offers about 53 cryptocurrencies for exchange to U.S. residents. This number is much lower than Binance’s international exchange but is on par with other U.S.-based exchanges.

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Binance may be the top choice for crypto traders across the world but it appears regulators are getting fed up. On June 27, 2021, the Financial Conduct Authority (the U.K.'s financial watchdog), banned Binance Markets Ltd., an affiliate of Binance, from operating in the United Kingdom. As countries around the world continue to take steps toward further regulating cryptocurrency, Binance may have to make some hard choices.

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Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”

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