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World Cryptonews: Binance Sued by SEC Over Unregistered Securities

by admin | Jun 6, 2023 | Crypto Blog

One of the biggest news stories in the world of cryptocurrency took a significant turn yesterday. The U.S. Securities and Exchange Commission (SEC) has charged Binance, the world's leading cryptocurrency exchange, with selling unregistered securities. The charge includes not only Binance Coin (BNB) and stablecoin BUSD, but also coins like Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), and Axie Infinity (AXS).

The SEC has categorized all these as 'Crypto Asset Securities' (CAS), implying that Binance has been trading unregistered securities since its launch. This charge resonates with SEC Chairman Gary Gensler's recent remarks, stating his intent to treat all coins except Bitcoin as securities.

Interestingly, Gensler was known to have praised blockchain as a 'great technology' in a lecture back in 2019. This makes the SEC's current action appear backed by some unknown 'power'.

The crypto market underwent drastic changes following this news. The top 10 coins all dropped in price, with 93 out of the top 100 experiencing a decline. Bitcoin's price also decreased by 6.25%, while the coins mentioned in the lawsuit, like BNB and Solana, saw roughly a 10% drop. Traders reportedly withdrew digital assets worth approximately $322 million from Binance and deposited an additional $91 million.

The Ethereum market also seems to be facing profit-taking, as Ethereum loses its vitality with Gensler's clear stance to categorize all coins as securities, excluding Bitcoin.

However, among the varied reactions to these developments, the most noteworthy is from Binance's CEO, Changpeng Zhao. Despite Binance US maintaining a good relationship with the SEC for nearly two and a half years, Zhao criticized the SEC for attempting to attack the cryptocurrency industry, just as they did with Coinbase and Gemini.

Zhao argues that the SEC's lawsuit cannot be justified, asserting that the committee's actions harm investors, suppress innovation, and adversely affect the cryptocurrency industry and businesses. Ironically, Zhao, who had a role in triggering FTX's downfall, now finds himself under similar assault. An old Korean proverb, "There's no one without a speck of dust when shaken," seems fitting here, indicating that no one is safe once an investigation begins.

The biggest concern in this situation is the potential ripple effects Binance's downfall could have on the cryptocurrency market. Given Binance's position as the undisputed leader among crypto exchanges, its downfall could greatly shake the entire cryptocurrency market, intensifying uncertainties.

Not just this lawsuit, but the cryptocurrency market in general is highly volatile. Therefore, when investing, careful consideration is necessary, and one should be prepared to take responsibility for their decisions.

If you are only trading in domestic exchanges, it's relatively safe. However, if you have concentrated all your assets in Binance, it might be a good idea to distribute them to different exchanges in advance. Even FTX disappeared in less than a week; no exchange is entirely safe. Still, at this point, diversifying your investments among exchanges holding a lot of margin could serve as a safety

OKX Exchange Referral Code

The global cryptocurrency marketplace is a highly competitive space. As the quest for the leading position continues, OKX cryptocurrency exchange has shown significant advancement. Based on CoinMarketCap, a reputable site for comparing global cryptocurrency exchange trade volumes, OKX has ascended to the 2nd spot, overtaking Bybit in futures trading volume.

But this isn't the only remarkable thing about OKX. They offer a lucrative opportunity that may entice both new and seasoned traders alike - a generous 30% discount on trading fees. To benefit from this offer, users need to enter the referral code "79949913" during sign-up.
By joining OKX via the following link, https://www.okx.com/join/79949913, new members can save 30% on trading fees.

As the Bitcoin halving event is anticipated to take place in about a year, no one knows exactly when it will occur. Yet, those who prepare in advance stand a chance to amass wealth, while those who don't may fall behind. Are you ready to prepare for the future? Because I am. And the reason is simple - I want to be rich.

30% trading fee discount referral code for OKX Exchange, the world’s 2nd largest cryptocurrency futures trading platform.

by admin | Jun 5, 2023 | Referral Code

But this isn't the only remarkable thing about OKX. They offer a lucrative opportunity that may entice both new and seasoned traders alike - a generous 30% discount on trading fees. To benefit from this offer, users need to enter the referral code "64912533" during sign-up.
By joining OKX via the following link, https://www.okx.com/join/64912533, new members can save 20% on trading fees.

Celebrating BingX Exchange’s 5th Anniversary: Special Events Unveiled

by admin | May 15, 2023 | Crypto Blog

BingX Exchange is celebrating its 5th anniversary with various special events.

Before diving into the event details, if you're interested in a 45% discount on BingX Exchange fees and want to see the KYC authentication guide, refer to our previous post:

BingX Exchange Referral Code : 45% Fee Discount and KYC Guide

* Regular referrals can only get a 25% discount, but ReferralCodescom, being an affiliate, offers a whopping 45% fee discount. The discount is clearly displayed on the sign-up page, so rest assured.

Upon entering the BingX Exchange main page, you're greeted with a banner showcasing numerous events. For simplicity, let's first click on the prominent number '5'.

The event banner is divided into three sections:

A balance of minimum 500USDT. Spot trades over 2,000 dollars/10,000 dollars, and an airdrop event of Cheems Coin on depositing a certain amount (5,000 dollars).
Futures Trading Event, Coinfall Craze mini-game to earn coins (daily).
Copy Trading Contest.

These three events require significant investment, such as deposits over 5,000 dollars or 10,000 dollars. Thus, it's challenging to recommend participation blindly. So, let's focus on the daily mini-game in the Futures Trading Contest where you can earn coins for free.

First, you need to access the BingX Exchange from a PC, not a mobile app.

Once you click 'Join Now' at the bottom of the event page, the event starts immediately! It runs from May 14th, 2023 to June 10th, 2023, and you can participate once a day during this period.

| The Coinfall Craze is a mini-game where you collect falling coins on the BingX platform.

The countdown starts right away, so be ready! After the countdown from 5 to 1, coins start raining down.

For 10 seconds, coins fall rather quickly. I lost 4 seconds trying to capture the screen. I moved the mouse hastily and didn't manage to click much. I hope those participating in the BingX Exchange coin airdrop event after reading this post will be more careful and aim for 100 clicks.

For reference, I managed to click on...

Two coins only!

Tomorrow, I plan to prepare better, avoid capturing the screen, and focus on clicking diligently.

The 'Multiply' button reveals conditions for doubling your coins, with a minimum of 30 USDT required in your Feature account. However, since you can lose everything in one fell swoop in the trading contest (although experts might profit, there seem to be only a few real crypto experts in the world), it's advisable not to participate in trading. The trading contest offers a first-place prize of 100,000 USDT, but I can't even imagine winning.

Additional details pop up when you click on the 'Multiply' button. I deposited exactly 30USDT for the event, but nothing got activated. I'm considering converting up to 500USDT to activate one more feature.

BingX Exchange is hosting various events for its 5th anniversary from May 14, 2023. It's only been a day since the event started, so I'm quickly sharing this information via ReferralCodescom.

If you're interested in the 45% discount on BingX's fees and want to see the KYC authentication guide, refer to the below post.

BingX Exchange Referral Code : 45% Fee Discount and KYC Guide

BingX Exchange Referral Code : 45% Fee Discount and KYC Guide

by admin | May 9, 2023 | Referral Code

Today, we're introducing the BingX Exchange's 45% trading fee discount with a referral code and a step-by-step guide on KYC verification. By completing the KYC verification, you can also receive a 50 USDT gift.

As of April 27, 2023, the BingX Exchange ranks 17th on CoinMarketCap for futures trading volume.
To receive a 45% trading fee discount, sign up via the link below. It's recommended to sign up on a web browser rather than using the app. If you prefer, you can manually input the referral code P0WG2YXQ when signing up directly on the site.

https://bingx.com/invite/P0WG2YXQ

Once you've clicked the link, you should see the 45% rebate offer. Proceed to sign up with your email or mobile number.

BingX Exchange KYC Verification Guide

Download the BingX app from the Apple App Store or Google Play Store.
Click on the 'Register/Login' button on the main screen.
Since you've already registered via web, click on 'Login' in the top right corner and sign in.

After logging in, click on the box icon in the top left corner (My Page icon).
To proceed with KYC verification, click on 'Verification'.
BingX's KYC process is slightly different, as it combines ID verification and selfie in one step. Click 'Continue' at the bottom.

First, select your country.
Choose the type of identification you'd like to use (driver's license, national ID, or passport) and follow the on-screen instructions.
Ensure your ID is readable, then click 'Document is readable' to complete this step.

Next, it's time for a selfie. Move your phone so your face fits within the square, and the sensor will automatically detect it.
Make sure your appearance matches the ID photo, and remove any hats or sunglasses before taking the selfie.
After the selfie is automatically taken, close the window by clicking the 'X' button in the top left corner.

You'll see 'Pending Review' under the 'Verification' status. While you wait, enhance your account security by clicking on the 'Security' button.
Click on the 'Link' button next to 'Google Authentication' to set up Google OTP.
If you already have Google OTP, simply add BingX Exchange using the seed phrase. If not, download the Google OTP app by clicking the 'Download' button at the top of the screen

.• Setting up Google OTP adds an extra layer of security to protect your assets, so don't skip this step.

1,2. After completing Google OTP, the 'verification' process is done. If you see the green 'Verified' text, you're good to go!

1. Upon visiting the Reward Hub, there's a check-in button that offers a 10 USDT voucher when clicked. Exciting!
2. There are even more rewards available. See below for details.
3. If 'Authenticated' appears under 'Verification', the account has completed KYC authentication.

• A brief summary of key rewards

1. Receive a 50 USDT bonus just for completing KYC authentication.
2. Deposit 500 USDT for trading and receive 20 USDT.
3. Get 10 USDT for your first buy/sell order.
4. Achieve a cumulative trading volume of 800,000 USD and receive 220 USDT.

These are just a few of the available rewards.

Upon checking the Assets, 50 USDT is credited right after KYC authentication is completed.
However, the bonus cannot be converted to regular funds. Instead, use the bonus for trading, and any profit earned can be withdrawn. It might be challenging to turn 50 USD into 50,000 USD, but consider withdrawing any profit you make.

Lastly, signing up for BingX Exchange using the link below grants you a 45% fee rebate.To get the fee discount, it is recommended to sign up using a PC or mobile Chrome browser rather than the app.If you prefer not to use the link, simply enter the referral code P0WG2YXQ when registering directly on the website.

https://bingx.com/invite/P0WG2YXQ

US Economy Update: FOMC, CPI, PPI, & Market Volatility

by admin | May 8, 2023 | Crypto Blog

Following last week's FOMC meeting, the United States announced a 0.25% increase in its benchmark interest rate. This week, the US Consumer Price Index (CPI) and the US Producer Price Index (PPI) will be released.

CPI US Consumer Price Index Release Time: Wednesday, May 10, 2023, at 08:30 am (UST)

PPI US Producer Price Index Release Time: Thursday, May 11, 2023, at 08:30 am (UST)

Major index announcements are scheduled for Wednesday and Thursday mornings at 8:30 am this week.

[US CPI Consumer Price Index Year-over-Year Chart Graphic Image]

The forecast for April's CPI year-over-year, to be announced on Wednesday, May 10, is predicted to be 5%, the same rate of increase as last April. The US economy is in disarray these days, with inflation not moving at all and news of a potential default due to debt from the world's strongest economic power. Even Warren Buffett, who leads Berkshire Hathaway, has added to the conversation, saying the future of the US economy is bleak. Of course, he did not forget to praise Apple, Berkshire Hathaway's largest holding.
High interest rates and ongoing rate hikes have made even US banks unsafe. Most people expect the 0.25% rate hike during this FOMC meeting to be the last, but opinions on rate cuts vary widely. Predictions like, "It will be cut in September," "It will be cut in December," and "It won't be cut until March 2024," are pouring out.
Instead of relying on predictions close to other people's prophecies, investors should keep an eye on major indices like this week's CPI and PPI and continually check and respond to the changing economic situation.

[US Central Bank Benchmark Interest Rate Chart Graphic Image]

The US central bank's benchmark interest rate rose to 5.25% last week with a third consecutive 0.25% increase. Experts who predicted no further rate increases from 4% in spring 2022 have seemingly disappeared. The current situation feels like a bomb ready to explode, making trading extremely frightening.
Additionally, the ongoing war between Ukraine and Russia does not seem to be improving, making it nerve-wracking to buy or sell coins even once. Let's hope peace returns soon!

[May 8, 2023, Bitcoin 15-minute Chart]

The Bitcoin 15-minute chart since April 26 shows a merciless trend. While futures scalpers might be saying "Wow, it's trading sideways in a box range!" and making profits, it's a difficult chart for regular traders. With this week's CPI and PPI major index releases, it's already scary to think about how much volatility there will be. Let's hope the price doesn't drop further and touch 27k again.

OKX exchange is a massive exchange, ranked third after Binance and Bybit in terms of Derivatives trading standards.

If you sign up for OKX exchange through the link below, you can receive a 20% fee discount. Although sometimes advertised as a 50% discount, it is often only 20% in reality. The link below is a safe and stable 20% discount link with no fluctuations. If you sign up through the App, simply enter the referral code 47041357.

https://www.okx.com/join/47041357

Furthermore, if you sign up with the referral code 47041357, you can directly recruit referrals. As a result, you can receive a rebate of 20% of the direct referral's trading fee. Therefore, we recommend recruiting referrals directly to receive the benefits.

Here is the link for partners to offer a 50% discount on fees for Bitget:
https://partner.bitget.com/bg/QZQ9FK

By clicking on the image, you will be taken to the Bitget referral code registration page that offers a 50% discount on fees.

When you click the link, you will see the screen shown above with the Referral Code section where you should write "hcsb". You can sign up using any convenient method, such as email or phone number, and if you previously signed up without a fee discount, you can still enjoy the 50% fee discount by signing up with a different method (for example, if you signed up with an email address before, you can now sign up with a phone number). If you want to sign up directly in the Bitget app rather than on the web or mobile web, simply write "hcsb" in the Referral Code section.

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