According to CoinGecko data , the total spot trading volume of the top ten centralized cryptocurrency exchanges in the third quarter of 2023 was $1.12 trillion, a 20.1% decrease from the second quarter. Binance's market share has fallen from a high of 66% in February to 44% in September due to regulatory pressure. HTX ranks third with a market share of 8% at the end of September, and its trading volume in the third quarter was $35.3 billion, an increase of 86.9%. Upbit and Bybit saw increases of 4.6% and 6.9%, respectively.

Coinbase is attempting to have the lawsuit filed against it by the SEC dismissed. The SEC had accused Coinbase of operating unregistered securities exchanges by facilitating the trading of digital tokens. Coinbase argued that the tokens traded on its platform are not securities and therefore fall outside the SEC’s jurisdiction. The company also argued that the SEC was overreaching its authority and trying to regulate all commerce that involves investment. A federal judge will now decide whether to accept Coinbase’s motion and dismiss the SEC’s lawsuit.

Coinbase submitted a response brief to the SEC's charges today. Coinbase stated that the SEC claims jurisdiction over all investments and that the terms "securities" and "contracts" in regulations have no limiting effect. As the response shows, this has never been the law and is not the law now. In addition, the U.S. Securities and Exchange Commission believes that any purchase behavior in which the buyer hopes to obtain appreciation constitutes an investment contract, and therefore a security. This is an attempt to fundamentally expand its own power, as the principle of significant issues clearly states that only Congress can do this.

Deribit, a derivatives exchange, announced that it will increase margin requirements gradually by increasing the margin model variable from 45% to 60% by 5% per day, due to potential rapid price and volatility changes. The increase in margin will force traders to provide more collateral, theoretically preventing liquidity crunch. Deribit's Chief Commercial Officer, Luuk Strijers, said that the platform's reserves are secure and that Deribit has "sufficient margin for all open positions." A Deribit representative added that the company's trading activity has not reached current levels since 2021.

According to official sources, Binance has started Ethereum network (ERC20) wallet maintenance, which is expected to last for two hours. During the wallet maintenance period, Ethereum network (ERC20) digital assets/token transactions will not be affected; Binance will suspend Ethereum network (ERC20) deposit and withdrawal services at 14:55 on October 24.

Vibra, a cryptocurrency trading application focused on Africa, has been suspended in Ghana, Kenya, and Nigeria. Vincent Li, co-founder of African Blockchain Labs, claims that this measure only affects Nigerian users and the suspension is temporary. However, messages on Vibra's Telegram channel indicate otherwise. According to a report by Techcabal on October 18th, current and former Vibra employees revealed that the application has been suspended in all African markets. These employees also stated that they have been asked to resign or have been dismissed. Another former employee stated that Vibra has not generated enough revenue.

Wintermute deposited 100 million GALA, worth $1.28 million, into Binance. Three days ago, Wintermute received 200 million GALA, worth $2.75 million, from Gala.

SCENEXTAGE, the cryptocurrency arm of Brazilian financial services company XP Investimentos, will be closing down its operations and users will no longer be able to purchase digital assets listed on the platform. The reasons behind the shutdown are unclear, but the company has stated that it is an internal decision and not related to any risks concerning their clients. Users will still be able to sell their assets free of fees and brokerage charges until December 15, after which any remaining assets will be sold off by XTAGE and the proceeds deposited in a corresponding digital account at Banco XP. Despite the closure of XTAGE, XP Investimentos will continue to offer a range of crypto products for its customers interested in maintaining exposure to the digital asset space.

Binance has announced new fiat service providers for euro payments, deposits and withdrawals in Europe. The company has signed agreements with regulated and authorized partners to provide services including EUR deposits and withdrawals via the Single Euro Payments Area (SEPA) network, EUR spot trading pairs and buying and selling digital assets via SEPA, bank cards or fiat balances. This announcement follows the halt of euro services by Paysafe, Binance's former service provider, in September. The new service providers were not named in the announcement and Binance spokespersons have not yet commented.

According to the official announcement, Binance will launch trading pairs for ATOM/FDUSD, AVAX/FDUSD, BAND/TRY, BCH/FDUSD, LOOM/TRY, and MATIC/FDUSD on October 19, 2023 at 16:00 (GMT+8). In addition, Binance will open spot grid and spot DCA (dollar-cost averaging) trading robot services for NTRN/USDT and PENDLE/USDT trading pairs on October 19, 2023 at 16:00 (GMT+8).