Binance, one of the largest crypto exchanges by trade volume, has distanced itself from its Venture Capital arm, according to a Bloomberg report published on Friday. The exchange has previously made headlines for its $4.3 billion settlement with the US Department of Justice and for its decision to end support to the Binance-branded stablecoin BUSD.
NB price hit a low of $540 on Friday, yielding 6% daily losses for holders. Crypto exchange Binance has noted several changes since the exchange settled charges brought against it by the US Department of Justice (DOJ). Binance’s newly independent venture capital arm has a portfolio worth over $10 billion and covers more than 250 Web3 and crypto projects.
XRP price is down nearly 5% on Friday, extending a week-long correction since hitting its year-to-date high at $0.7440 on Monday. The altcoin’s price decline follows a broader retreat in cryptocurrency markets as XRP traders brace for an important deadline in the Securities and Exchange Commission’s (SEC) lawsuit against Ripple on March 22, when the regulator is set to file their remedies-related opening brief.
The US financial regulator’s remedies-related opening brief deadline is March 22. Nearly a week away before the event, XRP price has nosedived to a $0.61 low. The SEC brought 46 enforcement actions against crypto firms in 2023, a 53% increase from the regulator’s lawsuits related to crypto in 2022.
Solana (SOL) and Solana-based meme coins such as Dogwifhat (WIF), Sillycat (SILLYCAT) or Popcat (POPCAT) observed an increase in price on Friday. Bitcoin (BTC) price correction triggered a market-wide crash and most altcoins wiped out their weekly gains on the daily time frame.
Friday marks the first day since March 8 that Bitcoin price dropped to a low of $66,699. This likely catalyzed a meltdown in the crypto market, and most altcoins in the top 30 suffered a price correction. In this marketwide bloodbath, Solana and meme coins from the SOL ecosystem emerged as outliers, data from Santiment shows.
