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First Mover Americas: Binance.US to Bid for Voyager
The latest price moves in crypto markets in context for Nov. 24, 2022.
Updated Mar 3, 2023, 3:58 p.m. Published Nov 24, 2022, 1:05 p.m.
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) 836.47 +1.8 ▲ 0.2% Bitcoin $16,557 −11.0 ▼ 0.1% Ethereum $1,194 +20.8 ▲ 1.8% S&P 500 futures 4,048.25 +NaN ▲ NaN% FTSE 100 7,476.88 +11.7 ▲ 0.2% Treasury Yield 10 Years 3.71% ▼ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
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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
- 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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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin dips, but quickly recovers as U.S. captures Venezuela's Maduro
The U.S. overnight launched a military strike against Venezuela, capturing President Nicolas Maduro and his wife and extracting them from the country.
What to know:
- The U.S. captured Venezuelan President Nicolas Maduro and his wife after a brief military operation Saturday morning, according to President Trump.
- Crypto prices suffered a brief, modest drop on the first reports of the military action, but have since recovered.
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