#HaveYouBinanced
My Journey with Binance: How I Started and What I Achieved

I started my journey with Binance as a beginner looking to understand the world of cryptocurrencies and investment. The beginning was full of challenges, but the Binance platform provided me with distinctive educational tools that helped me build my knowledge. Over time, I was able to develop successful strategies, and I shared them with my followers through articles and discussions.

Binance was not only a trading platform, but it became a supportive community for traders and creators, as I was able to join the Creator Program and share my ideas with a wider audience. The recent competition experience with Binance Square was a great incentive to develop my skills and appreciate the community's support.

My journey continues, and I aspire to share more successes and lessons with everyone.
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ProShares Seeks to Launch Bitcoin-Denominated ETFs

ProShares, which manages more than $75 billion in assets, has filed with the U.S. Securities and Exchange Commission to launch three ETFs that track the S&P 500, Nasdaq 100 and gold, with returns measured in bitcoin rather than dollars.

The funds will use bitcoin futures, with long positions in the underlying assets and short positions in dollars/bitcoin, with monthly resets to mitigate the impact of dollar volatility.

ProShares plans to invest 25% of its assets in Cayman Islands-based companies to ensure tax compliance.

The move comes amid a major expansion of bitcoin into the traditional financial sector, with asset managers increasingly interested in integrating cryptocurrencies into their investment products

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Montenegro agrees to extradite Do Kwan, founder of Luna project, to the United States

The Minister of Justice of Montenegro announced the approval of the extradition of Do Kwan, founder of Terraform Labs, to the United States based on an official request and a comprehensive legal study.

The decision came after assessing the seriousness of the crimes and the scope of jurisdiction, where the criteria favored the American request, while the South Korean request was rejected.

Kwan was arrested in March 2023 while trying to leave Montenegro with a forged passport, and spent four months in prison on forgery charges.

The extradition comes as part of the investigations into the collapse of TerraUSD and Luna in May 2022, which caused losses of $40 billion and caused major repercussions in the cryptocurrency industry.

US authorities accuse Kwan of misleading investors and hiding large assets.

Kwan is currently in a foreign refuge awaiting the implementation of extradition arrangements.

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Bitcoin ends the week with inflows despite massive outflows earlier

Cryptocurrency investment products saw inflows of $308 million last week, despite massive outflows of $576 million on December 19 and $1 billion in the last two days of the week.

Bitcoin ended the week with a net positive inflow of $375 million, reflecting positive market sentiment.

In contrast, Bitcoin short products saw weak inflows of just $0.4 million, indicating waning short-seller interest.

In altcoins, XRP led inflows with $8.8 million, followed by Horizen with $4.8 million and Polkadot with $1.9 million. Ethereum also saw positive inflows with $51 million, while Solana saw outflows of $8.7 million.

The United States accounted for the largest share of inflows at $567 million, followed by Brazil and Australia at $16.6 million and $10.2 million respectively.

Switzerland led outflows at $95.1 million, followed by Germany and Canada

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Bitcoin ETFs Lose $1.2 Billion in 3 Trading Days

Spot Bitcoin ETFs in the US have seen significant outflows over the past three days, with a total loss of $1.17 billion, as Bitcoin tumbled 14% from its all-time high a week ago.

On December 23 alone, outflows hit $226.5 million, with Fidelity topping the list with $146 million.

Despite these declines, BlackRock bucked the trend with inflows of $31.7 million.

However, the funds have seen total inflows of $35.8 billion since their launch, reflecting continued demand.

BlackRock’s iShares Bitcoin ETF has also become one of the largest ETFs ever, with $53.3 billion in assets under management.

Bitcoin’s correction coincided with continued outflows from other crypto-asset funds, surpassing $1 billion between December 19 and 20.

While Bitcoin prices stabilized around $94,000, altcoins such as BNB, AVAX, LINK, SUI, and HBAR maintained a stronger performance with gains of over 4%

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Opinion: The crypto industry is not yet ready for the European MiCA regulations

Delphine Forma, head of UK and EU policy at Solidus Labs, confirmed that the crypto industry is not ready to deal with the MiCA regulation, which is expected to be fully implemented on December 30, 2024.

She also explained that the MiCA regulations are not new, but have been introduced gradually, as stablecoin rules were introduced earlier this year, while the rest of the regulations will start soon.

Forma pointed out that the industry suffers from a misunderstanding of the MiCA regulations, and that by the end of next year, compliance with the regulations will be mandatory and mandatory without exceptions.

She also criticized the lack of preparedness of regulators in some countries, such as Belgium, which has not yet determined the body responsible for implementing MiCA, while other countries such as France are showing greater readiness.

She added that companies that are not registered in the European Union but target clients in it may face significant difficulties due to the strict rules related to reverse ordering, which prevent direct promotion of services within the European Union.
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