🗞️ Main updates
1. CZ requests dismissal of FTX lawsuit for $1.7–1.8 billion
Changpeng Zhao, founder of Binance, has requested the dismissal of a lawsuit for approximately $1.7–1.8 billion filed by the FTX Trust in the Delaware bankruptcy court. CZ argues that U.S. courts do not have jurisdiction over him or Binance in relation to that claim .
2. Record volume in derivatives: $2.55 trillion in July
Binance reached a six-month high by recording a futures trading volume of $2.55 trillion during July, driven by the volatility of Bitcoin and altcoins. The platform holds more than 50% of the global derivatives market with over 568 pairs available .
3. Increase in altcoin deposits
Altcoin-related deposits on Binance reached their highest level since late 2024, with over 45,000 weekly transactions .
4. Bitcoin options open to all users
Binance has enabled access to writing Bitcoin options for all of its users, offering a 20% discount fee on new contracts, including Ether, BNB, and Solana .
5. Market news from Binance Square
• Indonesia evaluates Bitcoin mining and its potential use as a national reserve, in collaboration with Bitcoin Indonesia and the local government .
• Ethereum (ETH) shows a technical formation of "cup and handle" while trading around $3,666, with an increase of +2.65% .
• According to Charles Hoskinson, founder of Cardano, storing ADA may not be safe under recent SEC guidelines on liquid staking .
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🔎 Brief overview
• Binance continues to lead the derivatives market and expand its tools for retail and professional users.
• Legal tensions with FTX continue to escalate, with warnings about potential jurisdictional disputes.
• A notable increase in activity related to altcoins is observed
