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As we speak about the current cryptocurrency market, its well worth noting that Binance Coin (BNB) has made an impressive recovery, with a 9% increase within the past 24 hours. Meanwhile, Solana (SOL) has declined by 6%, inflicting Binance Coin (BNB) an upward push to the fourth position. Despite indicators suggesting a possible price increase, regulatory problems have overshadowed Binance Coin (BNB). Meanwhile, the newly introduced decentralized platform Pushd is ready to revolutionize e-commerce by providing a decentralized market with several modern innovations to outpace traditional giants, including eBay and Amazon.

Binance Coin (BNB) has rebounded with a 9% surge, reclaiming its reputation as the fourth-biggest cryptocurrency from Solana (SOL). However, the regulatory challenges create demanding situations, contributing to consumers heightened Fear, Uncertainty, and Doubt (FUD). Despite current declines in the Funding Rate and Weighted Sentiment, analytical signs suggest a price boom in the approaching year. Nevertheless, Binance Coin (BNB) aims to surpass its preceding All-Time High with a projected price target of $400 through 2024. It is crucial to notice that the belief of claiming this mark also can go beyond January.

Solana (SOL) faces a setback with a 6% drop in the recent 24 hours, marking the end of a current ecosystem frenzy. The Solana (SOL) based meme coin rally also sees a decline, with leveraged long positions worth $32 million liquidated. Meme tokens like BONK and WIF have plummeted over 50% from their December highs, signaling income-taking and waning interest. BNB Smart Chains native token (BNB) capitalizes in this, rallying 9% in 24 hours, regaining the fourth spot in market capitalization from Solana (SOL).

Pushd is set to emerge as a decentralized game-changer, promising a seamless marketplace experience for consumers and sellers alike. Nevertheless, Pushd will eliminate the need for KYC (Know Your Customer) processes, making it easier and quicker for users to sign up and list their products, unlike traditional online trading platforms. Additionally, the Pushd will offer a unique swap service, enabling instant currency exchange and supporting various cryptocurrencies for transactions.

Addressing troubles in traditional marketplaces, Pushd will ensure low platform fees, instantaneous fund releases, and decentralized governance. Offering features like immediate deposits, revenue sharing for presale buyers, and a commission-free swap service, Pushd aims to redefine decentralized e-commerce, emphasizing security, transparency, and decreasing fees compared to centralized counterparts.

Pushds first presale phase begins at an appealing rate of $0.035, it will offer an exciting investment opportunity with significant growth potential. With a dedication to transparency and innovative capabilities, Pushd will be equipped to shape the destiny of decentralized e-commerce while also serving as a promising investment portfolio for investors.

For more information about the Pushd (PUSHD) Presale, visit their website.

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Binance Coin (BNB) rises in value, Solana (SOL) takes a slight dip while the new presale Pushd (PUSHD) goes live - Analytics Insight

The Solana (SOL) bulls are regaining control as trading volumes start picking up again at the start of 2024.

As per data presented by Yahoo Finance, $2.2 billion in spot SOL/USD trading volumes changed hands on Monday, up sharply from the low volumes of around $1.7 and $1.8 billion seen over the past two days, as SOLs price pushes back towards $110.

SOL was last around $108, up around 4% in the past 24 hours as per CoinMarketCap, and eyeing a run back towards Decembers multi-quarter highs at $125.

Solana was a star performer in December, gaining over 70% amid a surge in meme coin trading and airdrop hunting on the blockchain, which helped pump bullish narratives around the blockchains ability to rival Ethereum thanks to its innovative technology, super fast transactions and low fees.

Solana traders, just like broader cryptocurrency market participants, will be monitoring themes this like such as the potential approval in the US of spot Bitcoin ETFs, upcoming US macro data (namely the December jobs report out on Friday), and will be keeping an eye on Solana on-chain metrics to see whether the latest growth in activity is showing any signs of slowing.

Solana currently has a market cap of just under $47 billion, versus Binance Coin (BNB)s market cap of around $47.5 billion.

Thats a very meagre gap to close, and one that Solana, prior to last weeks pullback from multi-quarter highs, has already closed in recent memory.

Indeed, Solana briefly became the fourth largest cryptocurrency in the world last week, behind only Bitcoin (BTC), Ether (ETH) and Tether USD (USDT) as its price peaked around $125.

Arguably, Solana stands a very good chance of overtaking BNB once again, given the former strong bullish momentum, and given the latters very weak momentum.

BNB was a laggard in 2023, gaining less than 30% over the course of the year versus Bitcoins gain of over 160%, Ethers gain of around 100% and Solanas stunning gain of around 1,000%.

The aforementioned bullish narratives surrounding Solanas use case and potential to rival the likes of Ethereum and Bitcoin are likely to continue contributing to growing interest in the blockchain, at a time when BNB is struggling to benefit from any bullish narratives of its own.

Many crypto enthusiasts have long been skeptical of the BNBs reliance on crypto exchange Binance (who developed and launched it and has been marred by legal issues in 2023), while some have derided its lack of innovation.

Perhaps BNB is overdue a catch-up to the rest of the market, but the momentum is with Solana, which remains odds-on to steal the number four spot in the crypto rankings.

Solana price predictions are likely to remain bullish as traders eye a retest of April 2022 highs in the $140s.

While Solana (SOL) could offer good upside prospects for the months ahead, traders should always look to diversify their crypto holdings.

For those with a strong risk tolerance, investing in promising up-and-coming web3 project by buying into their token presales is one good way to generate potential quick exponential gains.

Cryptonews.com spends a lot of time analyzing which presales have potential, and one such project that they are big fans of is an exciting new project calledMeme Kombat.

Meme Kombat blends together the world of crypto gaming and gambling with its exciting platform where users are able to bet on the outcomes of exciting battles between characters based on some of the crypto worlds most popular meme coins.

Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.

The project has already raised close to $5.25 million, despite launching just weeks ago.

Visit Meme Kombat Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Solana Price Prediction as $2.2 Billion Trading Volume Comes In Can SOL Overtake Binance Coin? - Cryptonews

Source: X / @cz_binance

Former Binance CEO Changpeng Zhao, commonly known as CZ, has been blocked from traveling again as his sentencing for criminal charges approaches in late February.

On December 29, in the U.S. District Court for the Western District of Washington in Seattle, Judge Richard Jones issued a sealed order denying Zhaos request for permission to travel. CZ was granted $175 million in bail as he awaits sentencing for various violations of banking laws but is subject to travel restrictions preventing him from leaving the United States.

While the details of the motion are not publicly available, CZ and his defense team have sought to seal documents related to his travel outside the U.S., citing the inclusion of private and sensitive medical information about one of Zhaos children. The filings aim to justify the sealing request to protect the confidentiality of personal details.

This sealed order marks the second instance of the court restricting Zhaos movements. Last month, Judge Richard Jones ordered that a condition allowing Zhao to return to his home in the United Arab Emirates be stayed until the court resolves the governments motion for review. Prosecutors had raised concerns about Zhao being a flight risk, citing his wealth and the lack of an extradition treaty between the UAE and the U.S.

The specific medical information provided to the court under seal in Zhaos case remains undisclosed. Zhao is known to have three children with Yi He, a former talk show host and co-founder of Binance.

CZ and Binance were part of a lengthy investigation that concluded with a substantial settlement with various U.S. agencies. Zhao had to step down as CEO, and he is currently facing criminal charges related to the violations committed by the cryptocurrency exchange.

On November 21, CZ faced charges relating to the failure to maintain an effective anti-money laundering (AML) program at Binance. Following the charges, CZ pleaded guilty in Seattle court to violating the Bank Secrecy Act and also causing Binance to violate it.

As part of the plea agreement, he agreed to pay a $50 million fine. The U.S. Department of Justice settled a related case with Binance last month. The settlement involved alleged money laundering, fraud, and sanctions violations, with Binance agreeing to pay a $4.3 billion fine. Subsequently, he was granted bail ahead of his sentencing.

However, prosecutors raised concerns about CZ being a flight risk, citing his wealth and the lack of an extradition treaty between the United Arab Emirates (UAE) and the U.S. On December 7, Judge Richard Jones ruled in favor of the government prosecutors, barring CZ from leaving the United States.

Despite legal challenges, Zhaos wealth has reportedly grown rapidly in 2023, increasing by almost $25 billion, according to the Bloomberg Billionaires Index. His wealth now exceeds $37 billion, making him the 35th richest person globally, according to the index.

CZ is scheduled to be sentenced on February 23, 2024, and he could face a maximum prison sentence of 18 months based on the current legal proceedings.

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Former Binance CEO Changpeng Zhao Barred from Travel by US Judge - Cryptonews

Key Takeaways

Coinbase Global (COIN) shares jumped as biitcoin (BTCUSD) traded at a 2023 high, and it appeared the firm has benefited from the recent legal problems for the worlds largest crypto exchange, Binance.

Data analyzed by on-chain research firm CryptoQuant reported by Coindesk suggests that Coinbases reserves of bitcoin have jumped recently, while theyve declined at Binance.

Earlier this week, Binance pleaded guilty to federal charges of money laundering. The company agreed to pay $4.3 billion in penalties, and founder and CEO Changpeng Zhao, known as CZ, also pleaded guilty and said he would step down.

Analysts indicated that another potential benefit to Coinbase is that the Binance legal decision may help pave the way for U.S. regulators to approve a Bitcoin exchange-traded fund (ETF).

Bitcoin traded above $38,000 for a short period before giving up some ground. It remained in positive territory at midday.

Shares of Coinbase Global were at their highest level since April 2022.

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Coinbase Shares Advance After Bitcoin Hits $38K, Binance Settlement - Investopedia

LONDON, Nov 24 (Reuters) - Spiralling compliance costs, ongoing legal headaches and a shrinking share of the market: Binance's new chief Richard Teng faces daunting challenges in turning a new leaf for the world's biggest crypto exchange.

Teng was quickly appointed CEO this week after Binance's founder Changpeng Zhao pleaded guilty to breaking U.S. anti-money laundering laws, part of a $4.3 billion deal to resolve a years-long U.S. investigation.

Now Teng must deal with years of intrusive U.S. financial monitoring, an ongoing U.S. Securities and Exchange Commission (SEC) lawsuit and the potential loss of its dominance of the crypto sector, analysts, investors and former regulators said.

Teng faces an especially tough task in transforming the culture of Binance, four of the people said. U.S. Treasury Secretary Janet Yellen said on Tuesday that Binance "turned a blind eye to its legal obligations in the pursuit of profit" as it "allowed money to flow to terrorists, cybercriminals, and child abusers."

Teng, who before working for Binance was a financial regulator, said on social media that he would focus on reassuring users of Binance's "financial strength, security and safety" and collaborate with regulators "to uphold high standards globally."

"Teng is seen as steady hands," said Carol Alexander, professor of finance at the University of Sussex, who has tracked Binance for years. Still, leading a cultural shift at Binance - a firm shaped by Zhao in his own image - would be "hugely difficult," she said. Investors pulled almost $1 billion from Binance in the 24 hours after Zhao's demise, among its biggest daily outflows of the last year. The reaction is a sign of the challenges ahead for Teng, who previously ran Binance's regional markets.

While the U.S. settlement bars Zhao from future involvement in operating or managing Binance, he is still a major shareholder. Yi He, Binance's co-founder and the mother of Zhao's children, remains a top executive at the company. "New page," she posted on Tuesday.

Contacted by Reuters with a summary of this article, Binance did not make Teng available for an interview.

Binance spokesperson Simon Matthews told Reuters that Binance had lacked "compliance controls adequate for the company that it was quickly becoming" and made "misguided decisions" as it grew quickly.

"Richard was hired two years ago to help Binance mature and move past these historical issues," Matthews said, adding that Binance had "worked hard to restructure our organization and personnel and upgrade our systems." The firm has "new leadership" in place with experience in compliance, law enforcement and major corporations, he added.

Zhao's lawyers did not respond to a request for comment.

As part of the resolution, the U.S. authorities will subject Binance to five years of "financial monitorship" overseen by the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN).

FinCEN will keep access to Binance's books, records and systems, "oversee remedial undertakings" needed to address Binance's non-compliance with anti-money laundering and sanctions rules, the Treasury said on Tuesday.

Such steps are unusual, challenging and costly, even for mainstream financial companies with deep experience of dealing with regulators, said lawyers and former regulators.

"It's a real millstone - everything you are doing is subject to scrutiny," said John Reed Stark, a former chief of the SEC's Office of Internet Enforcement.

While the exchange has said it has ramped up compliance spending, Zhao for years sought to shield it from regulators, Reuters reported in a series of articles in 2022.

Still, Binance should be able to cover both additional compliance costs and the U.S. fines, investors have said.

"The fundamentals of our business are VERY strong," Teng posted on social media on Wednesday. "Our capital structure is debt-free, expenses are modest, and, despite the low fees we charge our users, we have robust revenues and profits."

Hired by Zhao as Binance's Singapore chief in 2021, Teng has been CEO of Abu Dhabi Global Market from 2015 to 2021. His previous roles included chief regulatory officer at Singapore Exchange (SGX).

He was promoted to head Binance's regional markets in May and was widely seen as a potential successor to Zhao.

His rise to the top job is for Binance "an opportunity to move past mounting enforcement actions and chart a path towards stability and a fresh beginning," said Rajeev Bamra, head of digital assets strategy at Moody's Investors Service.

Complicating prospects for a clean slate, however, are outstanding legal headaches.

Binance is facing an SEC lawsuit for allegedly operating a "web of deception," including artificially inflating its trading volumes and diverting customer funds. Binance has denied the allegations.

It is also under investigation in France for alleged aggravated money-laundering.

On the business front, too, Binance is under pressure.

For years it dominated the crypto market, but this year has rapidly lost market share. Last month it controlled 32% of crypto spot and 50% of derivatives trading, according to crypto firm CCData, down from 55% and 62% respectively in January.

Fuelling the decline has been an end to Binance's zero-fees transaction promotions, as well as its regulatory problems, analysts said.

Other exchanges, such as Seychelles-registered OKX, have gained market share this year, according to CCData. OKX is the second-largest exchange after Binance by market share.

In the longer term, the exchange may lose further market share because of reduced marketing and business development budgets following the U.S. fines, said Joseph Edwards, head of research at London crypto firm Enigma Securities.

"But that's talking quite far down the line - they are a very strong incumbent overall."

Reporting by Tom Wilson and Elizabeth Howcroft; editing by Elisa Martinuzzi and Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

Tom covers crypto companies, regulation and markets from London, focusing through 2022 on the Binance crypto exchange. He has worked at Reuters since 2014, with a previous posting to Tokyo where he uncovered abuses in Japans immigration system and won a joint Overseas Press Club award for reporting on the tobacco giant Philip Morris.

Reports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and the money driving "Web3".

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Binance CEO Teng braced for uphill battle in post-Zhao era - Reuters