Last Friday, the United States government announced that it will start a new series of investigations against Binance Holdings Ltd. for possible market manipulation and insider trading. U.S. officials fear that the biggest crypto exchange in the world has been profiting in a way they have been taking advantage of their users. Consequently, the Commodity Futures Trading Commission will be involved in this investigation process, looking forward to ensuring transparency between users, public institutions and cryptocurrency exchanges. On its part, a Binance delegate said that the company has a very strict code of ethics as well as a zero tolerance insider trading policy. Meanwhile, the CFTC contradicts that argument, mentioning that it has been a complete headache for Binance’s CEO, Changpeng Zhao, to achieve compliance with the U.S. government and users. It seems that regulations for Binance are still far from a short term period, as this is not the only open investigation against them. Also, the U.S. government has shown restlessness related to the fast growth of decentralized financial assets in the world, as many different American institutions (FED, Treasury Department, etc.) have expressed their feelings about the potential use of cryptocurrency for illegal businesses.

Nevertheless, we also have good news for cryptocurrency markets, and guess what? The biggest cinema company in the world, AMC, has announced that they will start receiving payments in crypto by the end of the year. The CEO of the company, Adam Aron, has published via Twitter a message in which he mentions the incorporation of digital asset transactions for many different services, such as buying tickets online. It is also important to mention that it will not be just Bitcoin, they will be accepting payments with Ethereum, Litecoin and Bitcoin Cash. Bitcoin is currently located in a support zone near $43,000 (-7%), after a crash this morning that took its price to a minimum value of $42,500. Right now it is also bouncing in its 100 period exponential moving average, so we can conclude that it is close to a very critical level where we can expect to see either the formation of a bearish trend, or a continuation of its previous bullish trend, depending on its behavior in the next few days. Ethereum is close to $3,080, bouncing in a very interesting support level. Nevertheless, as well as Bitcoin, it is close to a very important zone where it is forming a “head and shoulders” pattern. Remember to be aware of this whole Binance situation, as well as the situation in El Salvador related to their population’s acceptance of cryptocurrency. Also, let’s stay on the lookout for everything related to regulations and many other different situations that can define the short term behavior of crypto markets. Without further ado, we wish you an amazing week!