Whales Bitcoin transfers thousands of BTC on OKEx and BitFinex
The Twitter warning system, whale_alert, reported unusually large transactions in the last two days to OKEx and BitFinex exchanges. Analysts at beincrypto speculated that it is preparing for liquidation of Bitcoin, given the recent price developments.
In the last 24 hours, the price of Bitcoin has dropped below the $ 8,000 threshold, a move that is expected after the weak evolution of the last week. Volumes are still at a low level, and analysts expect a drop to $ 7,700.
FATF President: Stable cryptocurrencies increase the risk of money laundering
The chairman of the Financial Action Group (FATF) said that, in his opinion, stable cryptocurrencies could hinder efforts to prevent criminal activities.
“If stable cryptocurrencies are used frequently, they could lead to new risks in terms of money laundering and terrorist financing,”
he said in a report released on Friday.
The President added that it is the task of the FATF to ensure that the risks arising from stable cryptocurrencies are adequately addressed. To this end, issuers of such assets must comply with global standards regarding cryptocurrencies and traditional financial assets.
Binance increases leverage to 125X for margin trading
The Binance Exchange has announced that it has raised the loan limit for margin trading to 125X. This is currently one of the highest values on the market.
At the launch of margin trading, Binance allowed a low leverage of up to 20X, and the new service achieved significant success. Currently, it is the main competitor for the BitMEX derivatives platform.
With a new 125X leverage, Binance hopes to attract more interested investors. However, there were also criticisms of the decision, many analysts pointing out that an increase in margin means an even greater risk for speculators.
Huobi launches fiat ramp in Turkey
Huobi Exchange has announced that it will strengthen its presence in Turkey by introducing a fiat access ramp to the 250 cryptocurrencies traded on the platform.
Plans date from June, but details about the project were not disclosed at that time. Mohit Davar, regional president of EMEA Huobi, said the exchange has already entered into a partnership with one of the local banks to build the initial infrastructure. Davar declined to disclose the partner’s name, stating that the collaboration will be officially announced in December.
Davar added that the transactions would initially take place between the Turkish Lira and the USDT, and the stable cryptocurrency could be used for transactions.
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