Bitcoin Dips to $38,500, Here’s Why
The king crypto has dropped over three percent on the recent negative news for the crypto industry
After the Binance exchange announced that it is going to stop offering crypto futures and crypto derivatives to customers around Europe, the flagship cryptocurrency lost over three percent and declined to the $38,500 area.
The first countries where clients will be unable to set up new trading accounts for futures and derivatives with Binance will be Germany, Italy and the Netherlands.
Prior to that, U.Today reported that Binance was under scrutiny in India regarding its role in the money laundering activities of Chinese betting apps on the Binance-owned WazirX exchange, the leading one in the country.
At press time, Bitcoin is changing hands at $38,752 on the Kraken exchange.