Binance Survey: Institutional Investors Bullish on Crypto’s Long-Term Prospects

Binance Research, in collaboration with Binance VIP & Institutional, has recently unveiled the results of their Institutional Crypto Outlook Survey. The study reveals a strong positive sentiment towards cryptocurrencies among institutional investors, with 63.5% expressing optimism for the next year and a striking 88% displaying a positive outlook for the next decade.

The survey, which ran from March 31 to May 15, 2023, gathered responses from 208 Binance VIP and Institutional users. It aimed to explore the demographics, attitudes, preferences, and motivations of these investors towards cryptocurrency investments.

Key findings from the survey indicate that despite market fluctuations over the past year, 47.1% of investors have maintained their crypto allocation, while 35.6% have increased their allocation. Only a minority, 17.3%, have decreased their crypto allocation. Looking forward, the majority of respondents expect to either increase (50.0%) or maintain (45.7%) their allocation over the next 12 months.

The study also highlights that institutional investors believe that the adoption of cryptocurrencies will be driven more by real-world use cases (26.9%) and improvements in regulatory clarity (25.3%) rather than higher prices (3.4%). This suggests that institutional participation in the crypto market is taking on a longer-time horizon, less reactive to short-term market cycles.

Interestingly, the survey reveals a more positive perception of Bitcoin compared to the broader crypto sector. While perceptions of Bitcoin and crypto remained largely unchanged over the past year (47.8% and 44.7% respectively), a larger proportion of respondents have turned more positive on Bitcoin (47.3% vs. 33.2%).

When it comes to investment motivation, 42.8% of investors cited the potential for large investment returns as the most compelling reason for investing in cryptocurrencies. This was followed by 37.5% of investors who see gaining long-term exposure to an emerging technology as the primary motivation.

Centralized Exchanges remain the most popular platform for institutional trading (90.5%) and custody activities (58.2%). The top three criteria for selecting a trading platform were liquidity (28.0%), security (26.0%), and reputation (22.5%).

Catherine Chen, Head of Binance VIP and Institutional, commented on the findings, “Institutions typically take a long-term horizon when they enter a new market, and our survey indicates that is likewise for crypto assets. These findings match the healthy rate of institutional account growth on Binance, which has increased 89% since the height of the bull market in Q4 2021.”

The results of this survey underscore the growing institutional interest and confidence in the long-term potential of cryptocurrencies. 


Tagged : / / / / / / /

SEC Chairman Gary Gensler Faced with Scrutiny Over Compliance with Federal Recordkeeping Requirements

The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is under scrutiny for alleged noncompliance with federal recordkeeping requirements. This issue has sparked controversy in the crypto world due to the potential implications on regulatory transparency and accountability.

In November 2022, a letter addressed to Gensler and the SEC questioned their compliance with recordkeeping requirements. The primary concern revolved around evidence suggesting the SEC might not be identifying and producing records of official business conducted on non-email or ‘off-channel’ platforms like Signal, WhatsApp, Teams, and Zoom. This letter did not receive a satisfactory response, raising concerns among cryptocurrency enthusiasts about the SEC’s commitment to transparency.

Furthermore, there are growing concerns that the SEC might not be fulfilling its recordkeeping obligations related to the Administrative Procedure Act’s (APA) notice and comment rulemaking process. Specifically, it is questioned whether the SEC has adequately documented feedback on its proposed rules, which is essential for formulating rules based on a complete record, in compliance with the APA.

Public calendars show Gensler had numerous meetings with different groups since his chairmanship began in April 2021. However, only a few of these meetings are documented in the comment files, increasing worries about the SEC’s recordkeeping practices.

For instance, Gensler is reported to have met with CalPERS, a proponent of the SEC’s radical climate disclosure rule proposal, multiple times, yet only two of these meetings appear in the Climate Proposal comment file. Similar discrepancies have been noted with other groups like Better Markets and Healthy Markets, raising further questions about the SEC’s recordkeeping accuracy.

In response to these concerns, the original authors of the November 2022 letter have demanded full and accurate responses to a new set of requests. These include certifications of the SEC’s compliance with federal record-keeping and transparency requirements, an explanation of the SEC’s definition of “off-channel communications,” and the provision of lists of all such platforms and SEC employees who have used these for official business.

The SEC has until July 17, 2023, to respond to these demands. The crypto community is closely watching these developments, as they could impact the SEC’s transparency and accountability, two crucial factors in a maturing cryptocurrency regulatory environment.


Tagged : / / / /

Senator Michael Bennet Urges Tech Giants to Curb AI-Generated Misinformation

U.S. Senator Michael Bennet from Colorado has today called on leaders of prominent technology and artificial intelligence (AI) companies, including Meta, Alphabet, Microsoft, Twitter, TikTok, and OpenAI, to implement proactive strategies to combat the proliferation of misleading AI-generated content.

Bennet emphasized the need for identifying and labeling AI-generated content, highlighting the potential risks associated with the unchecked spread of misinformation. He stated, “Online misinformation and disinformation are not new. But the sophistication and scale of these tools have rapidly evolved and outpaced our existing safeguards.”

The Senator pointed out several instances where AI-generated content caused market turmoil and political unrest. He also cited the testimony of OpenAI CEO Sam Altman before the Senate Judiciary Committee, where Altman identified the potential of AI to spread disinformation as a serious concern.

Bennet acknowledged the initial steps taken by technology companies to identify and label AI-generated content. However, he stressed that these measures are voluntary and can be easily bypassed. He proposed a framework for labeling AI-generated content and requested the companies to provide their identification and watermarking policies and standards.

The Senator concluded, “Continued inaction endangers our democracy. Generative AI can support new creative endeavors and produce astonishing content, but these benefits cannot come at the cost of corrupting our shared reality.”

Bennet has been a strong advocate for digital regulation, youth online safety measures, and enhanced protections for emerging technologies. He recently introduced the Digital Platform Commission Act, the first legislation in Congress to create a dedicated federal agency for overseeing large technology companies and protecting consumers.

This move by Senator Bennet underscores the growing concern about the misuse of AI technology and the urgent need for regulatory measures to ensure its responsible use. It remains to be seen how the tech giants will respond to this call for action.


Tagged : / / / / / /
Bitcoin (BTC) $ 43,417.63 1.41%
Ethereum (ETH) $ 2,372.84 4.61%
Litecoin (LTC) $ 74.81 0.68%
Bitcoin Cash (BCH) $ 248.10 0.21%