Crypto Market Roundup: Binance Delists Trading Pairs, Susquehanna Invests $1B in Bitcoin ETFs

Today, the value of Bitcoin remained steady, while cryptocurrency markets saw numerous significant developments. Binance announced the delisting of four spot trading pairs, while Binance Futures confirmed the delisting of five coins. Susquehanna Group disclosed its purchase of over $1 billion worth of Bitcoin ETF shares. Binance CEO Richard Teng advocated for the release of the company's employee detained in Nigeria. LayerZero banned employees from claiming tokens in its upcoming airdrop. Lava Network secured $11 million in funding led by Animoca Brands. FTX announced a compensation plan to pay all creditors in full, with bonuses. Standard Chartered forecasted a Bitcoin surge if Donald Trump wins the 2024 presidential election. Lyra Finance launched its LDX token, planned an airdrop, and announced LYRA token conversion.

Crypto News Digest: Binance Delists Four Spot Trading Pairs, Susquehanna Acquires Over $1 Billion in Bitcoin ETFs

The cryptocurrency market has witnessed notable developments in the past day, with Binance delisting four spot trading pairs and Susquehanna International Group revealing a substantial investment in Bitcoin ETFs. Here's a comprehensive roundup of the most significant crypto news:

Binance Delists Four Spot Trading Pairs

Binance has announced the delisting of four spot trading pairs from its platform, effective May 10, 2024 (VN time):

• 10:10 AM May 10, 2024 (VN time): AAVE/BNB, DEGO/BTC, LTC/TUSD, SAND/ETH

Binance Futures Delists Five Coins

Binance Futures has also announced the delisting of five coins: IDEXUSDT, SLPUSDT, GLMRUSDT, MDTUSDT, and AUDIOUSDT. All positions will be closed, and automatic settlements for the USDⓈ-M perpetual contracts will occur as follows:

• 4:00 PM May 15, 2024 (VN time): IDEXUSDT, SLPUSDT, GLMRUSDT
• 4:00 PM May 16, 2024 (VN time): MDTUSDT, AUDIOUSDT

Susquehanna Group Acquires Over $1 Billion in Bitcoin ETF Shares

Susquehanna International Group, a trading conglomerate, has disclosed a significant investment in Bitcoin ETFs. According to a 13F-HR report filed on May 7, the company has purchased over $1 billion worth of Bitcoin shares:

• 17,271,326 shares of Grayscale Bitcoin Trust (GBTC), valued at approximately $1.09 billion as of March 31, 2024
• 1,349,414 shares of Fidelity Wise Origin Bitcoin Fund (FBTC), valued at approximately $83.74 million as of the same date

Binance CEO Calls for Release of Employee in Nigeria

Binance CEO Richard Teng has appealed for the release of Tigran Gambaryan, an employee detained by Nigerian authorities. Teng expressed his belief that Gambaryan is "innocent" and should be released.

LayerZero Bans Employees from Airdrop

Bryan Pellegrino, co-founder of LayerZero, has confirmed that employees of LayerZero Labs will not be eligible for the upcoming project airdrop. He has explicitly prohibited them from claiming airdrop tokens.

Lava Network Raises $11 Million from Animoca Brands

Lava Foundation, the organization behind the modular blockchain Lava Network, has secured $11 million in a funding round. The move aligns with the project's impending mainnet launch and token airdrop.

FTX to Compensate 98% of Creditors

FTX, the bankrupt cryptocurrency exchange, has unveiled a new compensation plan for users and creditors, promising to return 98% of funds.

Standard Chartered: Bitcoin May Benefit from Trump's Re-Election

Standard Chartered believes that former US President Donald Trump's re-election in 2024 could positively impact Bitcoin's value. The bank anticipates that Trump's return to the White House may introduce favorable regulatory measures.

Standard Chartered Forecasts Bitcoin Bottoming

Standard Chartered has revised its short-term outlook for Bitcoin, predicting a recovery from recent lows of $56,500. This is in contrast to last week's forecast that suggested a decline to approximately $50,000-$52,000.

Lyra Finance Launches LDX Token, Hosts Airdrop

Lyra Finance has introduced the LDX token, which will serve as the native currency for the Lyra Derivatives Network. The launch is expected in Q3 2024, and the existing LYRA token will transition to the new one.

Additionally, Lyra Finance will host an LDX airdrop to reward traders and yield farmers for providing liquidity and utilizing Lyra products. The airdrop will distribute LDX tokens over a 12-week period based on a reward point system.