Binance.US CEO Brian Schroeder has left the cryptocurrency exchange, and the company has cut one-third of its workforce, according to a spokesperson. It's been a tough year for U.S. crypto exchanges, and Binance.US is feeling particularly pressured. The Securities and Exchange Commission charged the company with securities law violations in June, based on complaints from another U.S. regulator.

"The steps we have taken today will provide Binance.US with more than seven years of financial runway and allow us to continue serving our customers while operating as a crypto-only exchange," the company said in a statement. Stated. "The SEC's aggressive attempts to cripple our industry and its impact on our business are having real-world effects on American jobs and innovation, and this is an unfortunate example of that. .”

Cryptocurrency derivatives exchange BitMEX has launched a prediction market that allows traders to bet on the outcome of real-world events. Prediction markets have been around for a while, but their popularity has skyrocketed thanks to Polymarket. Polimarket, which was fined $1.4 million in January 2022 for unregistered swaps, has been accused of everything from serious things like the winner of the first Republican primary debate to former President Obama's sexuality and an opportunity Russia could exploit. They offer bettors a number of deals, including some ridiculous ones. Will nuclear weapons be developed or aliens exist by the end of 2023? BitMEX's prediction market, which it calls its latest derivatives product, aims for the former rather than the latter, starting with prediction contracts on FTX's bankruptcy debt recovery rate and the likelihood of a Bitcoin exchange-traded fund being approved by October. There is. .17, Sam Bankman Freed could be in prison.

Cryptocurrency exchange FTX has amended its proposal to sell billions of dollars in crypto assets to allay concerns raised by the U.S. Trustee, the bankruptcy division of the Department of Justice. The proposal, filed on Tuesday, would allow FTX to take into account the market-moving effects of the trade ahead of time, as the prospect of crypto players selling as much as $100 million in assets per week has already chilled crypto prices. There is no need to issue a public notice. The US Trustee should initially object to FTX's plans and report any intent to sell Bitcoin (BTC) or Ether (ETH) as widely as possible to give others an opportunity to object. said. As a compromise, FTX agreed to keep the U.S. trustee in the loop, along with a committee representing the exchange's creditors.

This chart shows the change in cryptocurrency market depth since November 2022. Depth refers to the market's ability to absorb large buy and sell orders at stable prices.
The 0.1% depth, which is a collection of buy and sell orders within 0.1% of the midpoint, has recovered more than the 1%, 2%, and 4% gauges, representing a broader range of liquidity. .
The data shows market makers are increasingly providing liquidity in narrow ranges, Kaitaka said.
The overall liquidity situation has worsened since January, making it difficult for whales to execute large orders.