First Mover Americas: Binance.US to Bid for Voyager

The latest price moves in crypto markets in context for Nov. 24, 2022.

AccessTimeIconNov 24, 2022 at 1:05 p.m. UTC
Updated Mar 3, 2023 at 3:58 p.m. UTC

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

836.47
+1.8 0.2%
$16,557
−11.0 0.1%
$1,194
+20.8 1.8%
S&P 500 futures
4,048.25
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FTSE 100
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Treasury Yield 10 Years
3.71%
0.1
BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)

Top Stories

Binance is targeting $1 billion for a previously announced recovery fund for distressed crypto assets, CEO Changpeng “CZ” Zhao said in an interview with Bloomberg TV Thursday. The fund will be open to contributions from other industry players. “If that’s not enough we can allocate more,” CZ said, according to the news outlet.

CZ also confirmed in the Bloomberg interview, that Binance’s U.S. arm will be making a fresh bid for crypto lender Voyager Digital now that FTX is unable to follow through with acquiring it. Following Voyager's bankruptcy, FTX emerged as the frontrunner to acquire the lender, with Binance's bid said to be held back by concerns it would represent a national security concern for the U.S. government.

The Securities Commission of The Bahamas is firing back at collapsed crypto exchange FTX’s accusations that the nation had directed unauthorized access to transfer assets off the platform after it filed for bankruptcy protection in the U.S. In a Wednesday notice, the regulator called the allegations "intemperate and inaccurate.”

Chart of the Day

(Dune Analytics)
(Dune Analytics)
  • The chart shows the price of liquid-staking protocol Lido's staked ether (stETH) token fell to 0.97 ETH early Thursday.
  • According to blockchain sleuth Lookonchain, the de-pegging happened after a whale removed over 84,00 ETH from decentralized exchange Curve's stETH-ETH liquidity pool.
  • Historically, stETH's deviation from ETH price has coincided with market uncertainty.
  • The previous episodes of de-pegging saw smart money snap up stETH at a discount and eventually sell at par.

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Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.