One of Binance’s partners in Europe, Clear Junction, has stopped facilitating payments for the cryptocurrency exchange after the Financial Conduct Authority’s decision that Binance isn’t allowed to undertake regulated activity in the U.K.

The amount of Bitcoin being held on centralized cryptocurrency exchanges has been steadily dropping since late May with around 2,000 BTC – worth over $66 million – leaving exchanges every day.

A division of major U.S. asset management firm Capital Group has bought 12.2% of business intelligence software firm MicroStrategy’s (MSTR) common stock, according to a filing detailing the firm bought 953,242 shares of 7,782,568 outstanding.

Top stories in the Crypto Roundup today:

• European Payments Processor Clear Junction Cuts Off Binance
• Crypto Exchange Outflows Top 2,000 BTC Per Day
• U.S. Financial Giant Buys 12% Stake in Bitcoin-Exposed MicroStrategy

European Payments Processor Clear Junction Cuts Off Binance

One of Binance’s partners in Europe, Clear Junction, has stopped facilitating payments for the cryptocurrency exchange after the Financial Conduct Authority’s decision that Binance isn’t allowed to undertake regulated activity in the U.K.

In a statement, Clear Junction wrote:

"We have decided to suspend both GBP and EUR payments and will no longer be facilitating deposits or withdrawals in favor of or on behalf of the crypto trading platform."

Binance has been under fire over the last few weeks, with regulators from numerous jurisdictions announcing the cryptocurrency trading platform is not allowed to operate there, and with certain banks blocking their customers from using their cards on the platform.

Crypto Exchange Outflows Top 2,000 BTC Per Day

The amount of Bitcoin being held on centralized cryptocurrency exchanges has been steadily dropping since late May with around 2,000 BTC – worth over $66 million – leaving exchanges every day.

According to a report Bitcoin reserves on exchanges have fallen to levels that haven’t been seen since April. Researchers noted that during the bull run that led to Bitcoin’s peak in May, a relentless depletion of exchange reserves was crucial.

The report concludes most of the BTC moved off of exchanges either to the Grayscale Bitcoin Trust, or to be accumulated by institutions during the bull run, and in May the trend reverse as the coins were sent to exchanges to be liquidated. The trend has since then reversed:

“On a 14-day moving average basis, the last two weeks in particular have seen a more positive return to exchange outflows, at a rate of ~2k BTC per day.”

The report adds that the proportion of on-chain transaction fees represented by deposits to cryptocurrency exchanges dropped to 14% over the past week, from a 17% peak in May.

U.S. Financial Giant Buys 12% Stake in Bitcoin-Exposed MicroStrategy

A division of major U.S. asset management firm Capital Group has bought 12.2% of business intelligence software firm MicroStrategy’s (MSTR) common stock, according to a filing detailing the firm bought 953,242 shares of 7,782,568 outstanding.

The filing had been public for two weeks, but Senior Vice President Walter Burkley only signed off on Monday. The shares were bought by Capital International Investors (CII), a private equity firm part of Capital Group that manages $7.6 billion in annual revenue and has $2.3 trillion in assets under management.

The purchase gives CII indirect exposure to bitcoin, as MicroStrategy holds over 105,000 BTC worth over $3.4 billion.

Examining Anchor Liquidations

As we can see below, liquidations spiked from May 19 to May 23, though that may not be surprising given the overall downward action. What was more surprising, however, was the number of liquidations on Anchor during that time period.

According to the data from @shreyashpatodia, this marked the first time several users were liquidated multiple times in one day.

State of the Crypto by Top Tier Exchange Volume

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