Cryptocurrencies Price Prediction: Binance, Kraken & Ethereum – European Wrap 28 September

Binance asks users to convert EUR to USDT after Paysafe goes AWOL

Binance, one of the top crypto exchanges in the world, announced on Thursday that there will be a brief interruption of EUR payments due to Paysafe’s unilateral decision.  Binance mentioned that Paysafe, a payments rail in Europe, has unilaterally decided to “stop processing EUR deposits for Binance users.” 

The announcement blog further stated that Paysafe users are advised to take appropriate actions in advance. To alleviate the situation, the exchange suggested that the affected users “may convert EUR balances in their Binance accounts to USDT before 2023-10-31 at 0:00 (UTC). Meanwhile, users may continue to withdraw their EUR balances from Binance accounts to their bank accounts.”

Kraken to launch US-listed stock and ETF trading services after $30 million SEC settlement

Kraken, a cryptocurrency exchange with a rather robust standing in the European market, has indicated plans to diversify, with intentions to leverage the first-mover advantage towards Exchange-Traded Funds (ETF). Meanwhile, the crypto markets continue to appeal to the US Securities and Exchange Commission (SEC) for a nod amid a long pile of applications already on the financial regulator’s desk.

Kraken platform has indicated plans to launch a US-listed stock and ETF trading services in 2024, which if successful, would represent the exchange’s first venture outside crypto. The platform already accounts for 3.5% of the global spot trading market share but has been recording dwindling trading volumes of late.

Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst

While spot Bitcoin Exchange Traded Funds (ETFs) approval has been a matter of controversy in the United States, Ethereum Futures ETFs' might not be. The Securities and Exchange Commission (SEC), which has been targetting spot BTC ETFs for months now, is most likely to approve the trading of ETH ETFs in the next seven days.

According to Bloomberg Senior ETF analyst Eric Balchunas, the SEC is likely to go easy on Ethereum Futures ETFs and fastrack their approval. Balchunas took to X, formerly Twitter, to share the update highlighting that the ETH ETFs are most probably going to be approved by October 2, Monday and available for trading for investors by the next day - October 3, Tuesday.