{"id":524672,"date":"2023-03-28T09:15:40","date_gmt":"2023-03-28T09:15:40","guid":{"rendered":"https:\/\/wncen.com\/?p=524672"},"modified":"2024-06-11T09:20:02","modified_gmt":"2024-06-11T09:20:02","slug":"cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","title":{"rendered":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto"},"content":{"rendered":"

The lawsuit<\/a> filed by the Commodity Futures Trading Commission (CFTC) against Binance and its CEO Changpeng Zhao (CZ) rattled the crypto market yesterday, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0At press time, BTC was stabilizing around the $27,000 mark, yet the outcome of the Binance trial could be a key driver of price trend in the medium term.<\/p>\n

The accusations against Binance weigh heavily. Among other things, the CFTC accuses the world’s largest crypto exchange of trading on its own platform with 300 accounts directly or indirectly (owned by CZ), supporting money laundering and intentionally circumventing US law.<\/p>\n

Cumberland Sees 3 Scenarios For CFTC Vs. Binance<\/h2>\n

On Twitter, Cumberland, a specialized crypto asset trading company within DRW Holdings, opinions<\/a> that the Binance lawsuit is now a major driver of Bitcoin price performance and the overall crypto market. In addition, Cumberland presents three scenarios of how the trial could end and what the consequences could be for Bitcoin and the entire crypto market.<\/p>\n

The outcome is likely going to fall into one of these three scenarios: (1) Clearer guardrails, but no material penalty (i.e. they win the case scenario); (2) Clearer guardrails, but a manageable penalty; (3) Clearer guardrails, but significant penalties.<\/strong><\/p><\/blockquote>\n

According to Cumberland, the way to get there is likely to be through a short-term settlement or else a lengthy, multi-year legal odyssey that only then leads to a settlement or court decision. For cryptocurrencies more broadly, scenario number one is clearly bullish, while a lengthy case like Ripple’s against the SEC would be bearish.<\/p>\n

Related Reading: Bitcoin Price Revisits Key Support, Can Bulls Save The Day?<\/a><\/div>\n

“But since the path for any of these in the near term is still unclear, near-term price action and volatility are similarly uncertain,” writes Cumberland, which continues to forecast that the litigation will further exacerbate cryptocurrencies’ already strained relationship with the US banking system.<\/p>\n

As a side effect, the already thin liquidity in the Bitcoin and crypto markets could also be further hampered. As NewsBTC reported<\/a>, Bitcoin liquidity has fallen to a 10-month low as market makers lost access to USD payment rails.<\/p>\n

According to the asset manager, it is worth looking at the CFTC’s case against BitMEX and its founder. In August 2021, a federal court ordered BitMEX to pay $100 million for illegally operating a cryptocurrency trading platform and money laundering violations.<\/p>\n

Arthur Hayes, Benjamin Delo, and Samuel Reed were ordered to pay civil fines totaling $30 million. They were also barred from committing further violations of the Commodity Exchange Act (CEA) and CFTC regulations.<\/p>\n

Related Reading: Elon Musk Points Out \u2018Most Serious Looming Issue\u2019 In Banking, Bitcoin To Moon?<\/a><\/div>\n

As per Cumberland the industry “emerged from that tumult with clearer guidelines, increased exchange reliability, and the consequent investor confidence to send the price of BTC +700%,” adding:<\/p>\n

The same seems likely to play out with Binance, albeit on a slower timeframe. At the expense of an increase in short term volatility, confidence-bolstering regulation and fairer industry standards should be the long term result.<\/strong><\/p><\/blockquote>\n

One indication of the regulatory clarity to come is the CFTC’s finding that “BTC, ETH, LTC and at least two fiat-backed stablecoins” are commodities.<\/p>\n

Bitcoin And Crypto Ahead Of A Regime Change<\/h2>\n

Just a week ago, Cumberland wrote that crypto is facing a “regime change in the market” due to the BTFP (Bank Term Funding Program) and the Federal Reserve’s expansion of swap operations<\/a> with five other central banks.<\/p>\n

“The flow we are seeing on the OTC desk is reflecting the new reality. It has been extremely focused in BTC and ETH, and we’re seeing very little profit-taking, despite the fact that BTC is up 70% on the year; our flow ratio right now shows roughly twice as many buyers as sellers,” Cumberland wrote<\/a> via Twitter.<\/p>\n

At press time, the Bitcoin price stood at $26,966, still digesting the Binance news from yesterday.<\/p>\n

\"Bitcoin
Bitcoin price, 1-hour chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from The Wall Street Journal, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The lawsuit filed by the Commodity Futures Trading Commission (CFTC) against Binance and its CEO Changpeng Zhao (CZ) rattled the crypto market yesterday, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0At press time, BTC was stabilizing around the $27,000 mark, yet the outcome of the Binance trial could be a key driver of price trend in the medium term. The accusations against Binance weigh heavily. Among other things, the CFTC accuses the world’s largest crypto exchange of trading on its own platform with 300 accounts directly or indirectly (owned by CZ), supporting money laundering and intentionally circumventing US law. Cumberland Sees 3 Scenarios For CFTC Vs. Binance On Twitter, Cumberland, a specialized crypto asset trading company within DRW Holdings, opinions that the Binance lawsuit is now a major driver of Bitcoin price performance and the overall crypto market. In addition, Cumberland presents three scenarios of how the trial could end and what the consequences could be for Bitcoin and the entire crypto market. The outcome is likely going to fall into one of these three scenarios: (1) Clearer guardrails, but no material penalty (i.e. they win the case scenario); (2) Clearer guardrails, but a manageable penalty; (3) Clearer guardrails, but significant penalties. According to Cumberland, the way to get there is likely to be through a short-term settlement or else a lengthy, multi-year legal odyssey that only then leads to a settlement or court decision. For cryptocurrencies more broadly, scenario number one is clearly bullish, while a lengthy case like Ripple’s against the SEC would be bearish. Related Reading: Bitcoin Price Revisits Key Support, Can Bulls Save The Day? “But since the path for any of these in the near term is still unclear, near-term price action and volatility are similarly uncertain,” writes Cumberland, which continues to forecast that the litigation will further exacerbate cryptocurrencies’ already strained relationship with the US banking system. As a side effect, the already thin liquidity in the Bitcoin and crypto markets could also be further hampered. As NewsBTC reported, Bitcoin liquidity has fallen to a 10-month low as market makers lost access to USD payment rails. According to the asset manager, it is worth looking at the CFTC’s case against BitMEX and its founder. In August 2021, a federal court ordered BitMEX to pay $100 million for illegally operating a cryptocurrency trading platform and money laundering violations. Arthur Hayes, Benjamin Delo, and Samuel Reed were ordered to pay civil fines totaling $30 million. They were also barred from committing further violations of the Commodity Exchange Act (CEA) and CFTC regulations. Related Reading: Elon Musk Points Out \u2018Most Serious Looming Issue\u2019 In Banking, Bitcoin To Moon? As per Cumberland the industry “emerged from that tumult with clearer guidelines, increased exchange reliability, and the consequent investor confidence to send the price of BTC +700%,” adding: The same seems likely to play out with Binance, albeit on a slower timeframe. At the expense of an increase in short term volatility, confidence-bolstering regulation and fairer industry standards should be the long term result. One indication of the regulatory clarity to come is the CFTC’s finding that “BTC, ETH, LTC and at least two fiat-backed stablecoins” are commodities. Bitcoin And Crypto Ahead Of A Regime Change Just a week ago, Cumberland wrote that crypto is facing a “regime change in the market” due to the BTFP (Bank Term Funding Program) and the Federal Reserve’s expansion of swap operations with five other central banks. “The flow we are seeing on the OTC desk is reflecting the new reality. It has been extremely focused in BTC and ETH, and we’re seeing very little profit-taking, despite the fact that BTC is up 70% on the year; our flow ratio right now shows roughly twice as many buyers as sellers,” Cumberland wrote via Twitter. At press time, the Bitcoin price stood at $26,966, still digesting the Binance news from yesterday. Featured image from The Wall Street Journal, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":524674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,428,1119,1265,6664,13639],"class_list":["post-524672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-bitcoin","tag-btc","tag-cftc","tag-crypto","tag-cumberland"],"acf":[],"yoast_head":"\nCFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin<\/title>\n<meta name=\"description\" content=\"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin\" \/>\n<meta property=\"og:description\" content=\"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T09:15:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T09:20:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1709\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto\",\"datePublished\":\"2023-03-28T09:15:40+00:00\",\"dateModified\":\"2024-06-11T09:20:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\"},\"wordCount\":682,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\",\"keywords\":[\"Binance\",\"bitcoin\",\"btc\",\"cftc\",\"crypto\",\"Cumberland\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\",\"url\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\",\"name\":\"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\",\"datePublished\":\"2023-03-28T09:15:40+00:00\",\"dateModified\":\"2024-06-11T09:20:02+00:00\",\"description\":\"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\",\"width\":2560,\"height\":1709,\"caption\":\"Binance vs CFTC\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin","description":"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","og_locale":"en_US","og_type":"article","og_title":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin","og_description":"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0","og_url":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-03-28T09:15:40+00:00","article_modified_time":"2024-06-11T09:20:02+00:00","og_image":[{"width":2560,"height":1709,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","type":"image\/jpeg"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto","datePublished":"2023-03-28T09:15:40+00:00","dateModified":"2024-06-11T09:20:02+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/"},"wordCount":682,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","keywords":["Binance","bitcoin","btc","cftc","crypto","Cumberland"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","url":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","name":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","datePublished":"2023-03-28T09:15:40+00:00","dateModified":"2024-06-11T09:20:02+00:00","description":"The lawsuit filed by the CFTC against Binance rattled the crypto market, causing the Bitcoin price to drop by $1,300 and 5% at times.\u00a0","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","width":2560,"height":1709,"caption":"Binance vs CFTC"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto","url":"http:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","bitcoin","btc","cftc","crypto","cumberland"],"dateCreated":"2023-03-28T09:15:40Z","datePublished":"2023-03-28T09:15:40Z","dateModified":"2024-06-11T09:20:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CFTC Vs. Binance: Cumberland Outlines 3 Scenarios For Bitcoin And Crypto\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cftc-vs-binance-cumberland-3-scenarios-bitcoin-crypto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/BN-WG932_2Ndga_OR_202-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"bitcoin\",\"btc\",\"cftc\",\"crypto\",\"cumberland\"],\"dateCreated\":\"2023-03-28T09:15:40Z\",\"datePublished\":\"2023-03-28T09:15:40Z\",\"dateModified\":\"2024-06-11T09:20:02Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/BN-WG932_2Ndga_OR_202-scaled.jpg?fit=2560%2C1709","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524672"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=524672"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/524674"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=524672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=524672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=524672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}