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CoinDesk
A Crypto Trading Clampdown Expands Beyond Binance to Another Large Exchange
Cryptocurrency exchanges are cracking down on brokerages that bundle clients' orders to enjoy lower, VIP trading fees. In a letter reviewed by CoinDesk, OKX, the second-largest exchange by volume, recently asked prime brokers for details of subaccounts including the names of the entities or individuals that control each subaccount and the jurisdiction in which they are located. OKX said it needs the information by July 17. "A failure to do so may result in undisclosed subaccounts being restricted from trading and/or subaccount closure," the letter said. Earlier this month, OKX's larger rival Binance changed its Link Plus interface, effectively closing a loophole that let prime brokers use a multitiered fee system to offer rebates to clients. Binance said the measure was "to uphold compliance and ensure a level-playing field for all users, whether they access Binance directly or via an intermediary." That news was first reported by Bloomberg.
Trump's Odds of Victory Hit All-Time High on Polymarket After Shooting
The former president, who was injured at a rally in Pennsylvania on Saturday, now has a 69% chance of retaking the White House, according to traders on the crypto-based prediction market. Trump-themed Polifi tokens and crypto broadly also rose.
Why Blockbuster Games Will Soon Be Built on Modular Appchains
Mainnets like Ethereum’s aren’t suitable for major (AAA) game development. The only real solution is a horizontally scalable blockchain coupled with modularity and a gas-free experience for end-users, says Jack O’Holleran, CEO of SKALE Labs.
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