Business

  Subtitle: Lawsuits against Binance and Coinbase, coupled with SEC's designation of unregistered securities, lead to significant declines in smaller coins. In a recent turn of events, the cryptocurrency market experienced a significant selloff as smaller coins bore the brunt of a Securities and Exchange Commission (SEC) crackdown on prominent digital-asset exchanges. Tokens such as Solana, Cardano, and Avalanche witnessed double-digit percentage declines on Saturday, while Bitcoin and Ether, the two largest digital assets, also slid more than 3% as of 2:30 p.m. in Singapore. The SEC dealt a double blow to the crypto sector earlier in the week by filing lawsuits against Binance Holdings Ltd., the largest trading platform in the sector, and Coinbase Global Inc., the leading exchange in the United States. The lawsuits accused Binance and its founder, Changpeng 'CZ' Zhao, of mishandling customer funds, misleading investors and regulators, and violating securities regulat...

  Understanding the fee structure of a broker is crucial when selecting one, especially in the context of cryptocurrency trading. The question of cost is often the first consideration for traders, closely followed by the range of tradable instruments. Brokers that offer cryptocurrency trading without overnight fees have a significant advantage over their competitors, even though cryptocurrencies remain largely unregulated, risky, and volatile. This article explores the benefits of holding cryptocurrency positions without incurring swaps.   Swaps, though often overlooked, play a crucial role for traders who do not close their positions within a single trading cycle. While spreads, commissions, inactivity fees, and withdrawal fees are commonly known revenue streams for brokers, swaps can significantly impact a trader's bottom line. Islamic accounts, also known as swap-free accounts, are typically offered by responsible brokers to cater to Muslim traders adhering to Sharia la...