Binance is joining a growing number of crypto exchanges offering around-the-clock exposure to foreign exchange markets through perpetual futures. Binance is expanding its derivatives offering into foreign exchange with the launch of 24/7 perpetual futures, starting with a US dollar-Brazilian real contract on Monday. Unlike traditional FX markets, which close for the weekend, Binance’s contracts will trade continuously using a dual-mode pricing system. During regular FX trading hours, prices will track a weighted index from third-party data providers, while weekends and public holidays will use an orderbook-based pricing mechanism. The USDBRLUSDT contract will go live on Sept. 21, settle in USDT and offer up to 100x leverage, according to a Friday announcement. Binance said the weekend system uses an exponentially weighted moving average of orderbook prices, rather than relying on external price feeds. Read more
Coinbase, Strategy and other crypto-linked stocks rallied Friday as the CFTC and SEC moved ahead with crypto-related actions under existing authority. Crypto-linked stocks rebounded sharply on Friday, reversing losses that followed the Senate’s failure to advance the CLARITY Act earlier this week, as Bitcoin climbed back above $80,000. Strategy led the gains, rising more than 13%, while Coinbase and American Bitcoin climbed about 11% each. Robinhood gained nearly 9%, according to Yahoo Finance data. Source: Yahoo Finance Read more
The US commodities regulator submitted a new crypto market regulatory action for White House review days after the Senate failed to advance the CLARITY Act. The US Commodity Futures Trading Commission has submitted a new regulatory action covering crypto asset transactions and markets for White House review, as the agency moves forward with its approach to overseeing the digital asset sector. According to a filing with the Office of Information and Regulatory Affairs, the action, titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,” was received on Sept. 17 and is listed at the “prerule” stage. The designation indicates the action is at an early stage of the rulemaking process and has not yet been formally proposed. The filing does not disclose details of the planned regulation, but comes days after the Senate failed to advance the CLARITY Act, legislation aimed at establishing a federal regulatory framework for crypto markets. Read more
Bitcoin price action made swift gains at the start of Friday’s Wall Street trading session as US 30-year bond yields began rising again. Bitcoin (BTC) jumped past $80,000 around Friday’s Wall Street open as fuel-crisis woes spread through global markets. Key points: Read more