Have you missed out on this week’s top crypto news? There’s nothing to worry about. Coin Informer is here to keep you up-to-date with this week’s recent crypto news. In our unique edition of ‘This Week in Crypto,’ we make all efforts to provide you with accurate information on the news headlines that have become the talk of the crypto world all around the globe. So, without further ado, let’s start this.
OANDA Debuts a Cryptocurrency Trading Platform in the UK: This Week in Crypto
February 26, 2024. OANDA is a renowned US-based forex pioneer who is entering the UK’s crypto landscape soon. The global brokerage firm officially announced this news through all social media handles, including its website.
This announcement was the result of ONDA’s 2023 acquisition of a significant portion of an FCA-registered crypto company called Coinpass. OANDA is debuting a cryptocurrency trading platform in the UK under the name of OANDA Coinpass Limited or OANDA crypto. A soon-to-debut platform is registered with the UK’s regulator, ensuring people the reliability of it.
In an official press release by ONDA, the firm confirmed the functionality of the cryptocurrency platform for private investors & traders in the UK. It’ll provide top-notch security & responsiveness, allowing investors to trade in over 63 cryptocurrencies, Bitcoin, ETH, Ripple, & more. Moreover, the trading app of OANDA allows access to over 100,000 public indicators, volume profile indicators & 110 smart drawing tools.
Lucian Lauerman, Head of Digital Assets at OANDA, said,
‘With OANDA Crypto, we’re staying true to our mission of making trading experiences smarter by bringing the reliability, security & simplicity of our robust trading platforms into an easy-to-use app, making crypto attractive to UK traders and investors of all levels of experience.’
Let’s see how OANDA will impact the UK’s crypto landscape & how tall it can stand in this competitive market.
U.S. Department of Justice Finally Approves Binance’s $4.3M Plea Deal: This Week in Crypto
February 23, 2024. Binance is back in the news (not for any controversy, but for a long-awaited decision for which we’ll be waiting). On February 23, Judge Richard A. Jones of Wahington’s district court finally approved the Binance’s $4.3 billion plea deal.
For context, let us tell you that Binance & its CEO and founder, Changpeng Zhao, were found guilty of Anti-money laundering activities in 2023.
Zhao’s sentencing date and further court trial have been pushed to April 30, 2024.
As a part of a settlement in this case, Binance’s organization board members unanimously decided to propose a deal. The plea deal says,
Binance will pay $4.3 Billion as a repercussion.
According to the deal, Binance will pay $1.8 billion as a fine and $2.5 billion for forfeiting the remaining things.
With the acceptance of this plea deal, we can expect a comeback of Binance in the future. Although things are pretty messy, however, there is still a huge expectation.
Ethereum Price Reaching $3,100 for the First Time Since April 2022: This Week in Crypto
After the spot Bitcoin ETFs, the crypto industry is full of excitement towards the spot ETH ETFs approval. According to JPMorgan Analysts, the world can expect the approval of spot ETH ETFs in early May. Due to the high level of excitement among the crypto community & many publications covering this excitement, Ethereum’s prices made a massive jump.
For the first time since April 2022, Ether prices have broken the $3,100 level. Moreover, ETH’s open interest soars to $10.6 billion.
If things remain the same for a few more days, it’d be easy for Ethereum to surpass the all-time high mark ($11 billion).
For this to happen, we’ve to wait & watch the trend closely.
The Deadline to Apply for Hong Kong’s VATP License has Ended: This Week in Crypto
As a crypto enthusiast, you may know about Hong Kong’s VATP license.
Last year, Hong Kong debuted the new criteria for crypto exchange to function their trading services. A crypto exchange that is able to attain the VATP (Virtual Asset Trading License) license can carry their trading in Hong Kong. Hong Kong announced the deadline for crypto platforms to apply for this license. The deadline was February 29.
Around 18 crypto exchanges, including Bybit, Crypto.com, HKVAX & OKX, applied for this license. Out of 18, four have already withdrawn their applications due to some internal reasons.
As of now, only OSL & Haskey are able to receive this license.
Since the deadline for the VATP license is over, it’ll be exciting to see how many crypto firms will end up getting this license.
Bitcoin Prices are Near to Reach an All-Time Highest: This Week in Crypto
February 28 to February 29, 2024. Bitcoin’s prices started with a bang this week, surging to $60,000. On the next day, the prices slipped and ended up hanging around $56,700.
However, Wednesday made the global crypto community choke – Bitcoin prices crossed $63,000. Many were expecting to witness history. But, again, the prices fell by $29,000 in the next few hours.
But, on Thursday, the prices jumped by reaching $64,000. As we’re writing, the Bitcoin is trading at $64,037. It means the biggest cryptocurrency is very near to surpass an all-time high ($68,990).
Let’s see, are we going to witness history in the first week of March or not?
Stay Tuned!
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