Bitcoin is witnessing a recovery rebound
Here you have fresh info about Bitcoin and Binance. The largest cryptocurrency by market value, Bitcoin, is currently trading near $8,125. This represents a 3.8% gain in lows, according the data from CoinMarketCap, nearing $7,640 recorded on Friday.
In addition to Bitcoin prices, major European stock indexes are flashing green at this moment. For example, at DAX in Germany, or CAC in France. Meanwhile, S&P 500 futures are currently rising by more than 4%. Telegram is following those numbers.
Firstly, we have observed Bitcoin’s high volatility during recent weeks. However, analysts still have positive outlooks on the cryptocurrency. For their part, oil prices report a 7% increase and the yield on 10-year US bonds is trading at 0.70%. This is nearly 35 basis points from Monday’s record low of 0.35%. Interesting numbers for the market value.
Binance and Bitcoin
The Binance crypto exchange officially apologized to the Steemit community. This was caused by its involvement in a major centralization scandal involving Tron founder Justin Sun. In a letter published on March 10, Binance stated:
“It remains neutral and has no interest in chain governance beyond the Binance ecosystem.”
Binance also provided records for freezing the STEEM tokens that it had wagered in support of Sun’s alleged “hostile takeover”. The tokens used are equivalent to 31,730,000 STEEMs.
That is to say, Binance’s letter comes after a confrontation between members of the Steemit community and the CEO of Tron, noting that Sun acquired, or “strategically partnered,” with Steemit in February of this year.
Telegram undermines the use of the SEC
Telegram has set a new precedent to defend itself at its trial in the United States for the sale of its cryptocurrency. It argues that it could reinforce its argument against allegations that it violates the country’s securities laws. Therefore, Telegram continues to fight for the existence of its cryptocurrency.
Subsequently, in a letter to Judge Kevin Castel of the United States District Court for the Southern District of New York on March 6, Telegram drew attention to a recent ruling in the case that it claims undermines the mandate of the Securities and Exchange Commission against the company.
As a reminder, Telegram has been embroiled in a legal battle with the SEC. The latter launched an investigation last October into Telegram’s initial $1.7 billion offering for the Telegram Open Network (TON).
Prior to their ICO, the creators of Telegram had filed a “Notice of Securities-Free Offer,” also known as Form D, with the SEC for the first round of its offer, followed by a second notice in March. The specific exemption used by Telegram, Form D 506 (c), authorized the cryptocurrency offering to be sold exclusively to accredited investors.