Binance denies allegations of manipulating the market and Substack starts accepting cryptocurrency payments

2 min readAug 24, 2021

Binance has issued a statement that it is not engaged in market manipulation

Binance has denied allegations of crypto market manipulation. The company said in a statement that the exchange “reserves the right to go to court to protect its own interests.”

“Upon learning about allegations of market manipulation made against us, we want to make our position regarding this critical subject matter clear. Binance has never traded against our users nor manipulated the market, and we never will,” the statement says.

The platform did not explain who exactly accuses Binance of illegal activities. The company only expressed the hope that in the future, improving the relationship of crypto industry participants with regulators, the number of “FUDs and persons with malicious intent, including posing as Binance employees” will decrease.

Substack mailing service started accepting cryptocurrency payments

The Substack service, with which you can create mailings and charge for access to them, now accepts cryptocurrency. The platform has added support for BTC-based Lightning payments.

The feature is available “for select cryptocurrency-focused publications.” A spokesperson for the processing service OpenNode, which helped create the new Substack option, said the publications include contributions from Willy Woo and Dan Held.

“Bitcoin payments are fast, convenient, and secure, with low fees. We use the Lightning Network for transactions, [which are] even faster than credit cards,” Substack said.

According to the company’s own data, there are more than 500 thousand paid subscribers on the platform. The investors of the service launched several years ago are Y Combinator, Andreessen Horowitz, Fifty Years.

The CFTC reminded about the authority of the department in terms of regulating digital assets

The Commodity Futures Trading Commission of the United States (CFTC) reminded about the powers of the department in the context of regulating digital currencies. According to the CFTC Commissioner Dawn Stump, the structure exercises control over financial derivatives, which include crypto coins and assets of any other class. At the same time, the department does not regulate goods, regardless of whether they are securities or not.

“To understand whether a digital asset is regulated by the CFTC, don’t think about whether it is a security or a commodity. Determine if there are futures contracts or other derivatives for this asset,” Stump said in a statement.

Stump turned to a story involving BitMEX, which provided Americans with the ability to transact BTC derivatives and other digital currencies without registration. The commission filed a lawsuit against the company and its management. As a result, the exchange agreed to pay $100 million to settle problems with regulators.