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First Mover Americas: Binance.US Makes Another Run at Voyager Digital
The latest price moves in crypto markets in context for Nov. 17, 2022.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
CoinDesk Market Index (CMI) 838.76 −8.4 ▼ 1.0% $16,572 −67.5 ▼ 0.4% $1,201 −18.0 ▼ 1.5% S&P 500 futures 3,940.75 −27.8 ▼ 0.7% FTSE 100 7,310.54 −40.7 ▼ 0.6% Treasury Yield 10 Years 3.69% ▼ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
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Binance.US is making another bid to acquire bankrupt lender Voyager Digital, according to a person familiar with the plans. Previously, the now-defunct crypto exchange FTX emerged as the “white knight” for Voyager, beating rivals Wave Financial and Binance. This time round, Wave Financial and trading platform Cross Tower are reported to be in the running. Voyager’s native coin, VGX, jumped more than 55% following CoinDesk's report.
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Genesis’ crypto-lending unit has halted customer withdrawals temporarily in the wake of FTX’s collapse. The unit, which serves an institutional client base and had $2.8 billion in total active loans at the end of the third quarter, is exploring solutions, including finding a source of fresh liquidity. Genesis owner Digital Currency Group is also the parent company of CoinDesk.
El Salvador President Nayib Bukele and Tron founder Justin Sun have committed to buying one bitcoin every day amid fears that FTX’s collapse will prolong the crypto winter. The strategy of purchasing bitcoin on a set schedule instead of in reaction to market movements is known as dollar cost averaging.
Chart of the Day
- The chart shared by Stéphane Monier, chief investment officer at Lombard Odier, a Swiss private bank, shows global shipping rates have collapsed to pre-pandemic levels.
- The receding costs signal lower inflation and economic recession ahead, weakening the case for continued liquidity tightening by the Federal Reserve.
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– Omkar Godbole
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Cosa sapere:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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Cosa sapere:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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