Binance Gives U.S Users 14 Days Ultimatum to Shut-Down Accounts

Binance, a cryptocurrency exchange company with headquarter in Malta has issued a 14 days ultimatum to its U.S users to close active accounts and withdraw all available funds on its original platform or risk losing accounts.

According to email notices sent to U.S users, the Terms of use of Binance cannot service U.S users, hence the need for them to open a new account with Binance U.S.

Mix Feelings as Speculations Rise on Yellen’s Nomination

The Wall Street Journal published that the President-elect Joe Biden has shown interest in nominating former Federal Reserve Chairwoman Janet Yellen as the next Treasury secretary of the United States.

Yellen’s stand on cryptocurrencies is unclear because in the recent past when she was still in office during the Obama administration, she made comments that were in favour and against cryptocurrencies.

Coinbase to Discontinue All Margin Trading on its Platform

Coinbase has announced plans to discontinue all margin trading by 2 p.m. on November 25, 2020, due to new regulations by the Commodity Futures Trading Commission (CFTC).

The crypto trading platform said that it will stop customers from placing new margin trades from Wednesday, cancel any open limit orders, and completely end the margin trading feature in December once existing positions expire.

XRP Leaps to a New High Amid Recent Airdrop

XRP, the world’s third-largest cryptocurrency by market value, has reached a new high since 2018 on Tuesday with market value shooting up by 130% in seven days.

At the time of writing this report, XRP is trading at $0.70 from as low as $0.3 seven days ago. Analysts claim that the current spike in XRP’s price is as the result of the smart contract platform Flare Network’s airdrop of “spark” tokens to XRP holders.