The head of the exchange stated that Palestinian accounts were blocked due to illicit activities, not for political reasons.
Richard Teng denied claims made by Ray Youssef, the founder of the peer-to-peer Bitcoin trading platform NoOnes, who alleged that the cryptocurrency exchange had frozen Palestinian assets at the request of Israeli authorities.

The controversy began after Youssef posted a message on X (formerly Twitter) on August 26, accusing Binance of following orders to freeze accounts associated with Palestinian users.

Donald Trump is reportedly close to receiving an endorsement from a leading independent candidate, which could significantly impact the outcome of the upcoming November election.

On Wednesday, Bitcoin experienced a 4% surge, climbing back to $61,550, fueled by speculation that Robert F. Kennedy Jr. might soon withdraw from the 2024 U.S. Presidential race to endorse Trump.

This development has reinforced Trump's position as a favorite among betting markets to win the November election. Analysts believe this could have substantial short-term effects on Bitcoin’s price.

According to ABC News, Kennedy is expected to withdraw from the race by the end of the week, with sources indicating that he will endorse Trump. When approached, Kennedy neither confirmed nor denied these reports. His running mate, Nicole Shanahan, recently hinted in a podcast that they are facing a tough decision about whether to throw their support behind Trump.

On August 16, approximately 24,300 Bitcoin options contracts, valued at around $1.4 billion, are set to expire. This event is smaller compared to last week's expiry, so its effect on the spot markets is expected to be minimal. In contrast, the much larger month-end expiry event currently holds a notional value of $3.2 billion.

Bitcoin's price surged to nearly $62,000 yesterday, marking a multi-day high. However, it faced resistance at that level, leading to a sharp decline of approximately $4,000, bringing the price below $58,000.

Similarly, altcoins have seen a downturn, with Ethereum (ETH) dropping 4.5% to just above $2,600.

JUST IN:

Presidential Candidate Robert F. Kennedy Jr says "I put most of my wealth into Bitcoin. I am fully committed."

Bitcoin miners have been selling more of their holdings recently because their revenues have decreased following the halving event.

Over the past seven days, the price of Bitcoin (BTC) has dropped by 4.5%, hitting a monthly low of $65,000. This decline may be partly due to increased sales by miners.

According to the latest weekly report from CryptoQuant, analysts noted that the amount of BTC sent from miners to exchanges has hit a two-month high. This trend is occurring as miners face reduced revenues from lower transaction fees.

A long-inactive Bitcoin whale wallet has recently become active after more than five and a half years, moving over 8,000 BTC, worth $536.5 million, from Coinbase's cold storage. This transfer highlights a significant increase, as Bitcoin's current value exceeds $67,000, representing a +1,700% rise from its average acquisition price of $3,750 in 2018.

Such reactivation of long-dormant Bitcoin wallets often occurs when investors or early miners decide to sell their holdings for profit.

The ZKsync Association plans to airdrop tokens to 695,232 eligible wallets next week to prioritize rewarding "real people."

Matter Labs, the developers of ZKsync, announced on Tuesday that a community airdrop of their new ZK tokens will commence next week.

This Ethereum Layer 2 service provider will distribute 3.675 billion tokens, equivalent to 17.5% of the total token supply, to approximately 695,232 eligible wallets through the airdrop.

Traders are employing an arbitrage strategy called "cash and carry" to achieve risk-free returns in the Bitcoin futures market, according to Glassnode's lead analyst.

On Monday, the value of Bitcoin futures reached a record high, with over 500,000 BTC worth $36.3 billion.

Analysts attribute this significant increase in open interest to a sophisticated arbitrage tactic used by institutional traders between Bitcoin's futures and spot markets.

Binance, the world's largest crypto exchange, has reached a significant milestone by surpassing 200 million users. This achievement gives the platform a level of influence comparable to the population of the eighth most populous country globally.

Binance's market dominance is further highlighted by its status as the largest centralized exchange, surpassing its nearest competitor, OKX, by almost $100 billion in volume.

The increase in user numbers has coincided with notable achievements for Binance's native token, BNB. Recently, BNB reached an all-time high of $721.8, marking a significant milestone for the crypto. With a current market capitalization of $100.57 billion, BNB is now the fourth largest digital asset, following only Bitcoin, Ethereum, and USDT. This accomplishment solidifies BNB's status among the top tier of the crypto market.

The crypto market experienced a significant drop in the past few hours, with Bitcoin falling to around $66,700. Some altcoins have suffered even more severe losses.

This decline is a continuation of the downturn that started late last week. As a result, the total market capitalization has fallen below $2.6 trillion, driven by substantial losses in Bitcoin and most altcoins.

Ondo appears promising at the moment. If the trend line breaks upward, we can anticipate a significant increase in its price.

Bitcoin fluctuated between $68,500 and $72,000, eventually stabilizing at $69,500. Despite current instability, analysts foresee a potential rise to nearly $90,000.

The meme coin BRETT (BRETT) reached an all-time high of $0.20 and attained a market cap of $1.7 billion before slightly declining. It is now the 65th-largest cryptocurrency.

Shiba Inu (SHIB) fell 7% over the week to $0.00002307, but analysts anticipate substantial price increases by the end of the year.

Bitcoin ended the week by dropping below $70,000, but analysts expect it to reach a new all-time high soon.

Markus Thielen, CEO of 10x Research, stated in a note on June 7, "It is only a matter of time until Bitcoin makes a new all-time high."

Thielen pointed to a "head and shoulders" chart pattern nearing completion, suggesting a potential rally towards $83,000. He predicts this could happen within this week if Bitcoin breaks through its resistance.

Crypto industry analysts are once again predicting an "altcoin season," but it may be premature to get too optimistic. In the previous market cycle, altcoins and their Bitcoin pairs hit their lowest points in June 2019, right before the United States Federal Reserve reduced interest rates.

The current chart patterns resemble those from that period, suggesting a potential final drop in altcoin values before the Fed's upcoming rate decision on June 12. However, recent declines in both crypto and stock markets, triggered by U.S. jobs data, could indicate that the Fed might decide not to adjust rates.

Cardano, Shiba Inu, and JasmyCoin have experienced significant increases in large-scale transactions, with $100,000+ deals more than doubling this week compared to the 2024 average. As the market recovers, these altcoins are attracting interest from buyers, including affluent investors who are accumulating these assets in anticipation of potential price increases.

Despite the positive inflows, BTC’s price has remained relatively stable.

On June 6, almost $220 million was invested in spot Bitcoin ETFs, marking the 18th consecutive trading day of positive inflows.

BlackRock’s IBIT, which had previously lost its top spot for daily inflows, received $350 million yesterday, while Fidelity’s FBTC, the former leader, only saw an increase of $3.1 million.

The last time the 11 spot Bitcoin ETFs experienced outflows was on May 10, primarily due to Grayscale’s GBTC, which saw $103 million withdrawn. Overall, outflows for all ETFs that day totaled $84.7 million, according to Farside data.

Since then, the situation has changed significantly, likely influenced by recent US inflation data.

Retail investors have not yet fully entered the crypto market, even though Bitcoin prices are approaching record highs, according to social and search sentiment data.

Global internet searches for Bitcoin have dropped to levels typical of a bear market, which is surprising given that the asset's price surged to over $71,000 this week.

Search interest in Bitcoin increased in March when the asset reached a previous all-time high but has since declined to the levels seen in 2023, based on Google Trends data.

Tech entrepreneur Mike Alfred noted on June 6 in a post on X that Bitcoin's price has become disconnected from search traffic. This observation leads to the conclusion that retail investors have not yet fully engaged in the market, and the recent momentum is largely driven by institutional investors.

Bitcoin was about $2,000 below its March 2024 peak of $73,737.

After a quiet and slow weekend, Bitcoin's price began to rise at the start of the business week.

This increase coincided with substantial investments in US-based spot Bitcoin ETFs, with nearly $500 million invested yesterday alone. Even Grayscale’s GBTC experienced positive inflows.

Remarkably, the largest US spot BTC ETFs have seen continuous inflows since May 10. Although there have been occasional outflows, such as $100 million from Ark Invest’s ARKB on May 30, the overall trend has remained positive.

As a result, the streak of consecutive inflow days has reached 16, matching the previous record set in February. Recently, June 4 recorded the second-highest inflows at $886.6 million, with yesterday's inflows at $488.1 million.

Chainlink (LINK), the native token of a decentralized blockchain oracle network on Ethereum, has been the leading real-world asset in terms of development activity for the past two months. According to Santiment, Chainlink is followed by Synthetix (SNX), Centrifuge (CFG), and Oraichain (ORAI) in terms of recent development efforts.