Pi is in Enclosed Mainnet. Pi Network isn’t affiliated with and hasn’t authorized any exchange listing.

 Mining crypto is hard.
Investing in crypto is risky.
Too many of us are left out of the cryptocurrency revolution.

Pi Network is aware of reports that several unauthorized third party exchanges, and potential unknown third parties, are seeking to list Pi or tokens purporting to be Pi, or some purported derivative of Pi, without the consent, authority or involvement of Pi Network.

It is important to reiterate that Pi is currently in the Enclosed Network and is not approved by Pi Network for listing on any exchange or for trading, and Pi Network was not involved with any of these purported postings or listings.

Currently, Pi Network recommends to all Pioneers and potential Pi users not to engage with any of these exchanges or third party actors as their actions are not affiliated with Pi Network, and could result in substantial loss or damage to Pi users. Pi Network is also requesting these posts and exchange listings removed, and evaluating additional actions with respect to the third parties and exchanges. In the interim, it is important to reiterate that the transaction of Pi through an exchange is explicitly prohibited during the Enclosed Mainnet period, and doing so would be a violation of Pi’s policies.

The unique innovative design of Pi’s Enclosed Network period is a strategic choice to build a network of true substance and utilities with the best interest of the network, the community and individual Pioneers in mind. The current Enclosed Network period of Mainnet allows Pi Network to focus on two priorities: mass KYC/migration and ecosystem utilities-building. Both are essential steps towards our ultimate objective of building a viable ecosystem to get ready for Open Mainnet.

Bitcoin Falls Back To USD10,000 As Worldwide Inflation Crisis Began!

 

Key points:

• U.S. stocks plunge, but some bounce off lows; Nasdaq down ~3.8%
• All major S&P 500 sectors red: cons disc down most
• Dollar, crude rise; gold falls; bitcoin swoons ~11%
• U.S. 10-Year Treasury yield jumps to ~3.35%

The bitcoin price has struggled since the first few months of 2022 as central bank monetary tightening squeezes assets across the board. The Fed is widely expected to hike rates by 50 basis points - the biggest rate increase in 22 years—in order to temper soaring inflation.

Now, a veteran trader has warned the bitcoin price could fall as low as $28,000, down $10,000 per bitcoin from its current price. 

Why is crypto crashing today? Cryptocurrency markets have crashed to a new low of this year today. The global market cap has shrunk to $1.02 trillion from $1.10 trillion recorded yesterday. The global cryptocurrency market cap has fallen by around $1 trillion this year while almost every top coin is now worth half or even less than their all-time highs.

The immediate trigger for the crypto crash appears to be a massive sell-off by investors amid heightened inflation fears. Investors are also continuing to stay away from riskier assets, which is reflecting in the stock markets as well.

Bitcoin, the biggest and most popular cryptocurrency, has fallen to $25,586 while almost all altcoins, starting from Ethereum, are bleeding prices since weekend.

"I still believe crypto is the most optimal hedge against these macroeconomic issues which is why institutional interest in the industry has only continued to grow,"

"Both venture capital funding and fund deployments into crypto are soaring at one of the fastest levels since the inception of #bitcoin."

US Regulator Investigate Binance BNB Token Probe By U.S. Money Laundering and Tax

 

June 6, 2022 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is investigating whether crypto exchange Binance Holdings Ltd’s initial coin offering in 2017 broke the agency’s rules, Bloomberg reported, citing people familiar with the matter.

SEC investigators are examining if the offering of BNB token amounted to the sale of a security that should have been registered with the agency, the report here said on Monday.

The investigation adds to the troubles for Binance, one of the world’s largest crypto exchange, which is already plagued by legal issues and controversies.

Spokespersons for SEC and Binance did not immediately respond to Reuters requests for comments. (Reporting by Leroy Leo in Bengaluru)

 

The U.S. Securities and Exchange Commission (SEC) is examining whether Binance’s initial coin offering of its Binance coin (BNB) token in 2017 was an unregistered security offering that should have been registered with the regulatory agency, Bloomberg reported Monday, citing confidential sources.

• Without commenting on the details of the reported probe, a spokesperson for Binance told CoinDesk via email, "As the industry has grown at a rapid pace, we have been working very diligently to educate and assist law enforcement and regulators in the U.S. and internationally, while also adhering to new guidelines. We will continue to meet all requirements set by regulators."
   
  • BNB was trading down 4% after news of the report came out.
  • Binance is currently under investigation in the U.S. by the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service. Binance is the world’s biggest crypto exchange and says it’s not domiciled in any one country.
  • The SEC is also investigating market-making companies owned or partially owned by Binance CEO Changpeng Zhao that do business with Binance.US, a U.S.-based affiliate of the global exchange, according to a person familiar with the review, Bloomberg reported.
  • According to the report, one of the SEC’s focuses is on whether Binance.US is wholly independent of the global exchange and whether employees may be involved in insider trading.
  • An SEC spokesperson declined to comment on the existence of any possible probe.

   

 

Bitcoin hit $150,000 by the start of 2022

 “Until this trend changes it will continue to put upward pressure on price as demand for Bitcoin has to accept higher prices amongst the limited supply available.”

Bitcoin (BTC) is “ready to rally” again as BTC price action flips bullish on crucial timeframes, trading platform Decentrader says.

In its latest market update on Oct. 29, the firm predicted incoming fresh upside for Bitcoin, which has languished below old all-time highs this week.
$150,000 end-of-year potential

Despite sideways moves in BTC/USD keeping markets guessing, the odds are still on for gains to enter in the short term, analysts believe.

While the area around this year’s two highs — $63,900 and $67,100 — are the main focus of discussion, real friction might in fact only lie far into price discovery territory nearer $100,000.

“On a technical, market cycle, and on-chain basis, we continue to believe that the next major area of difficulty for $BTC will not hit until we approach $85,000 – $90,000,” the update forecasts.

This is due in part to a moving average crossover event involving the 128-day and 200-day trends, which has historically sparked “sustained” upside.

Closer to the present, Bitcoin’s three-day chart, which Decentrader holds to be an especially accurate price tool, is now bullish, contradicting the current bearish daily and neutral weekly setup.

This is one ingredient feeding into a probable channel for price action which could see Bitcoin hit $150,000 by the start of 2022.

The status quo with the overall Bitcoin supply should help matter — exchange reserves continue to fall, indicating resolve to hold, rather than sell, among traders.

“Evidence continues to suggest that existing market participants remain bullish. One data point to support this is the continual draining of Bitcoin from exchanges as users select to put their Bitcoin into cold storage. The net impact of this is that short-term supply is reduced,” the update concluded about Bitcoin.  

Sources: https://cointelegraph.com/news/btc-price-ready-to-rally-with-bitcoin-bulls-clear-to-charge-at-85k-analysis

JPMorgan Institutional Investors Replacing Gold With Bitcoin

 

The shift into bitcoin that drove late-2020 all-time highs “has started reemerging in recent weeks,” wrote analyst Nikolaos Panigirtzoglou.

“Bitcoin’s allure as an inflation hedge” is drawing institutional investors back to the crypto market, JPMorgan’s Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients.

“There are tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started reemerging in recent weeks,” he said.

Bitcoin prices have surged above $50,000 recently, climbing 85% this year. The price of ether, the native currency of the Ethereum blockchain, has rose 393% year to date.

Meanwhile, gold prices are hovering below $1,800 per ounce, falling 6.5% in 2021.

Panigirtzoglou pointed to “the failure of gold to respond in recent weeks to heightened concerns over inflation” as a possible driver of the return to bitcoin.

Gold is often seen by investors as a hedge against inflation due to the perception it protects purchasing power and the ability to provide defense during market turmoils.

Sources: https://www.coindesk.com/business/2021/10/08/jpmorgan-says-institutional-investors-are-replacing-gold-with-bitcoin/

U.S. could soon approve a futures-based bitcoin exchange fund.

 

One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.

But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.

At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.

According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot market on centralized exchanges between 13:11 and 13:16 UTC Wednesday.

The timing of the purchase came not long after U.S. Republicans shared favorable comments on cryptocurrencies and amid increased expectations from markets that the U.S. could soon approve a futures-based bitcoin exchange fund.

The purchase could have started on Coinbase, Ki Young Ju, co-founder and CEO of CryptoQuant told CoinDesk. He pointed out that “Coinbase premium” rose sharply around the same time before it dropped again.

One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.

But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.

At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.

According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot market on centralized exchanges between 13:11 and 13:16 UTC Wednesday.

The timing of the purchase came not long after U.S. Republicans shared favorable comments on cryptocurrencies and amid increased expectations from markets that the U.S. could soon approve a futures-based bitcoin exchange fund.

The purchase could have started on Coinbase, Ki Young Ju, co-founder and CEO of CryptoQuant told CoinDesk. He pointed out that “Coinbase premium” rose sharply around the same time before it dropped again.

The “Coinbase premium” is an indicator showing the gap between Coinbase’s BTC/U.S. dollar (USD) pair and Binance’s BTC/USDT pair involving the tether stablecoin. When the number increases, it usually reflects stronger buying power on Coinbase, the centralized exchange.

Sources: https://finance.yahoo.com/news/bitcoin-price-rally-fueled-whales-201820117.html

SC Takes Enforcement Actions on Binance for Illegally Operating in Malaysia

 30 July 2021

The Securities Commission Malaysia (SC) today announced enforcement actions against Binance for illegally operating a Digital Asset Exchange (DAX). Under Sections 7(1) and 34(1) of the Capital Markets and Services Act 2007, all DAX operators must be registered as Recognized Market Operators (RMO) by the SC.

Accordingly, the SC has issued a public reprimand against Binance for continuing to operate illegally in Malaysia despite being included in the SC’s Investor Alert List in July 2020. In this regard, the public reprimand was issued against Binance Holdings Limited (Registered in the Cayman Islands), its CEO Zhao Changpeng, as well as three other Binance entities, namely Binance Digital Limited (Registered in the UK), Binance UAB (Registered in Lithuania) and Binance Asia Services Pte Ltd (Registered in Singapore).

All four Binance entities have been ordered by the SC to:

1. Disable the Binance website (www.binance.com) and mobile applications in Malaysia within 14 business days from 26 July 2021;
2. Immediately cease all media and marketing activities, including circulating, publishing or sending any advertisements and/or other marketing material, whether via emails or otherwise, to Malaysian investors; and
3. Immediately restrict Malaysian investors from accessing Binance’s Telegram group.

Zhao, as the CEO of Binance Holdings Limited, has also been specifically ordered to ensure that the above directives are carried out.

Investors are advised to stop dealing with and investing through illegal DAX. Those who currently have accounts with Binance are strongly urged to immediately cease trading through its platforms and to withdraw all their investments immediately.

The public is reminded to alert the SC if they come across any suspicious websites or receive any unsolicited phone calls or e-mails offering investment advice and opportunities, especially those that claim to offer high returns with little or no risks.

Exchanger of The Month:

Source: https://www.sc.com.my/resources/media/media-release/sc-takes-enforcement-actions-on-binance-for-illegally-operating-in-malaysia