Binance-Affiliated WazirX Announces Revoting Timeline for Amended Recovery Plan Under Singapore Court Oversight

WazirX, the cryptocurrency exchange associated with Binance, has set a new timeline for creditors to revote on its amended Scheme of Arrangement following directives from the Singapore High Court. The revoting period will run from July 30 to August 6, 2025, allowing creditors to reconsider the updated proposal. This development comes after the court mandated revisions to the initial recovery plan and required fresh approval from creditors. If the revised scheme secures majority support, token distributions will begin within 10 business days. Creditors were provided with updated documentation on July 23, ensuring transparency in the revoting process. This move highlights WazirX's commitment to regulatory compliance and creditor interests amid ongoing recovery efforts.

WazirX Sets Revoting Timeline for Amended Recovery Scheme Following Singapore Court Directive

WazirX has announced a revote on its amended Scheme of Arrangement, with voting open from July 30 to August 6. The MOVE comes after the Singapore High Court instructed the exchange to update its proposal and seek fresh creditor approval.

Token distribution will commence within 10 business days if the revised plan secures majority support. Creditors received updated documentation on July 23, including the amended scheme and explanatory statements.

DeFi Token MUTM Gains Traction Amid BNB's Sideways Movement

Binance Coin (BNB), a cornerstone of the crypto market, has entered a phase of consolidation, trading within a narrow range. This stagnation has prompted investors to seek dynamic alternatives with tangible utility and growth potential.

Mutuum Finance (MUTM) emerges as a compelling contender in the decentralized finance space, currently priced at $0.03 during its presale. The project has raised $13.1 million, with over 90% of Phase 5 tokens already sold. A price increase to $0.035 is imminent upon phase completion.

The platform's roadmap demonstrates methodical execution, having completed a CertiK audit and deployed AI-powered support systems. Future development phases promise enhanced functionality, positioning MUTM as a project with both short-term momentum and long-term viability.

BNB Retreats 4.3% as Traders Test Key Support Levels Following Record High

BNB slid 4.3% over 24 hours, retreating from $808 to $764 in a sharp correction that pared monthly gains. Trading volume surged as the token tested a critical support band between $744 and $753—a level now serving as the battleground for market sentiment.

The asset briefly touched $744.56 before rebounding to $759.35, signaling potential consolidation. Yet lower highs persist, maintaining the downtrend according to CoinDesk Research's technical framework. Persistent selling pressure has kept bears in control throughout the session.

BNB's underperformance stands out against the broader crypto slump, with the CoinDesk 20 Index dropping 3.6%. The pullback follows a historic rally that propelled BNB to an all-time high of $804 on July 23, fueled by institutional accumulation including Nano Labs' $90 million purchase.

Binance founder Changpeng Zhao acknowledged ecosystem participants amid the volatility. Current price action suggests profit-taking or portfolio rebalancing as traders weigh macroeconomic headwinds.

Circle and Binance Advance Stablecoin Utility with USYC Integration

Circle and Binance have taken a significant step toward bridging traditional finance with blockchain efficiency by enabling USYC as collateral for institutional trading. This tokenized money market fund, which pays holders interest unlike standard stablecoins, now offers near-instant fungibility with USDC. The move is poised to modernize institutional crypto finance by replacing conventional collateral like Treasury bills, which often delay settlement.

USYC's integration follows Circle's acquisition earlier this year, positioning it as a tool for capital-efficient yield through tokenized U.S. Treasuries. Binance's institutional clients can now leverage USYC as off-exchange collateral, marking a strategic push toward faster crypto settlements and real-world yield opportunities.

Altcoins To Buy Now During The Crypto Market Correction

The cryptocurrency market is undergoing a short-term correction, particularly in the altcoin sector. Analysts had anticipated this dip, which is now viewed as a healthy reset rather than a crash. Such pullbacks are typical in bull markets and often present strategic entry points for investors.

Hyperliquid has emerged as a high-potential project, trading above its ideal entry point but showing notable resilience. Traders await a more favorable price before accumulating positions, anticipating strong performance during the recovery phase.

SUI's price-sensitive nature makes it a volatile candidate that tends to amplify both downturns and rallies. Its current pullback positions it as a prime buy-the-dip opportunity for tactical traders.

BNB demonstrates remarkable relative strength, hovering NEAR all-time highs while other altcoins lag. The Binance ecosystem token stands to benefit from impending institutional products like BNB-based funds, solidifying its appeal for long-term holders.