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An unknown whale transferred 1,999,000,000 Tron tokens (TRX) worth $194 million. According to on-chain analytics, the whale transferred a large amount from the Binance cryptocurrency exchange to an unknown wallet. 1,999,000,000 #TRX (194,212,058 USD) transferred from #Binance to unknown wallethttps://t.co/vEuLQCvhFb — Whale Alert (@whale_alert) November 6, 2023 At the time of publication, the price of TRX remained virtually unchanged. When writing, the token trades at $0.09753, down 0.94%. Last week, three wallets the same owner could own moved 6,500 BTC for the first time in six years. Bitcoins arrived at these three addresses on Nov. 5, 2017. You might also like: Whale transferred 6,500 Bitcoins as price reached $36k Some BTC came from an address marked on bitinfocharts as F2Pool, which may belong to early miners. Meanwhile, Binance continues to experience billions of dollars in outflows that began last year. Since November, several billion dollars wort...

According to Spot On Chain data, the firms sent $10 million worth of crypto to a single wallet address, which then deposited the funds to Binance and Coinbase. Wallets linked to bankrupt crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in five hours on October 24-25, according to data from blockchain analytics platform Spot On Chain. The movement of these funds may indicate that the firms plan to sell some assets to pay back creditors. #FTX and #Alameda related addresses are depositing tokens to exchanges ! Via address 0xde9, #FTX 0x97f and #Alameda 0xf02 have transferred 2,904 $ETH ($5.21M) 1,341 $MKR ($2.01M) 11,975 $AAVE ($1.02M) 198,807 $LINK ($2.27M) to #Binance and #Coinbase in the past 5 hours .… pic.twitter.com/MQxCySp8g0 — Spot On Chain (@spotonchain) October 25, 2023 According to Spot on Chain data, an address listed as “likely” belonging to FTX transferred 2,904 Ether (ETH), worth over $5 million at t...

FCA’s enforcement of new advertising guidelines triggers changes in the UK crypto space, prompting high-profile exits and the birth of compliance gatekeepers. On Oct. 8, the UK’s Financial Conduct Authority (FCA) announcув a novel set of rules under the Policy Statement PS23/6. These guidelines were specifically crafted to oversee the promotion of crypto assets in the UK.  The immediate aftermath of this introduction saw a substantial shakeup, with many crypto companies deciding to exit the UK market due to the heightened regulatory environment. High-profile departures and market realignments have also been evident, emphasizing the significant impact of these regulations.  Let’s delve deeper into this topic and try to unravel the intricacies of these changes and understand the present state of the UK’s crypto sector in light of the FCA’s new regulations. Crypto firms respond to FCA’s regulatory overhaul The introduction of the FCA’s new pr...

Jonathan Farnell, the compliance officer of Binance in the UK, has left the company. In a comment to crypto.news, Binance’s spokesperson confirmed Farnell’s departure. “We’d like to thank Jonathan for his contributions and wish him all the best on his next challenge.” Binance representatives According to his LinkedIn page, Farnell left Binance Markets Limited at the end of September. He had already left his senior role at Binance Europe in June. Now, he heads the Bifinity subsidiary. You might also like: Exploring FCA’s new crypto promotion rules and their implications Binance under regulatory pressure Binance is still under increasing regulatory pressure in the U.S., where it is embroiled in disputes with two regulators, and the UK. Many top managers have left the company in recent months amid ongoing repression. Over the past few months, several more top management employees have left the company. We are talking about the head of the Asia-Pa...

Binance is apparently in the process of selling its business unit in Russia to a newly set up entity called CommEX — a process that could take up to a year. In the press release announcing this decision, Noah Perlman, chief compliance officer for Binance, stated that the company intends to “focus our energy on the 100+ other countries in which we operate.” This is a claim that Binance makes in other places as well, for example, on the ‘Countries and Regions‘ page on its website.  Confusingly, the page in question doesn’t list ‘100+ countries,’ only 45. It also continues to list Russia, despite the advertised sale, and separates Ukraine into two separate countries: one ‘Russian’ and one ‘Ukranian.’ The list of 45 names also considers Europe a nation. The list also features countries where Binance’s activities have recently come under greater scrutiny, such as France , where its offices were reportedly rai...

A US District Judge has rejected SEC’s request for an inspection of Binance US documents. Binance US stood firm on its stance calling the regulatory watchdog’s request “overboard”. SEC’s request sought access to documentation and communication with the exchange’s custodial service providers. Binance US, the American branch of the world’s largest cryptocurrency exchange, Binance , achieved a significant victory today amidst ongoing scrutiny. The exchange has been under intense scrutiny ever since the US Securities and Exchange Commission (SEC) initiated a lawsuit against it. This situation led to a decline in trading volume and the departure of key executives from the company. The SEC’s request for an investigation into the exchange, was denied earlier today by the court. What is the SEC investigating Binance US for? The SEC’s argument hinged on the assertion that Ceffu, a custody platform, was, in reali...

Twenty-seven percent of the funds stolen in the July 30 exploit have yet to be returned. Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing," Binance Labs said in the Aug. 10 announcement. Yi He, Binance’s co-founder and head of Binance Labs, said the firm is pledging its full support to the DEX “given recent events that have impacted the protocol."  The firm says in exchange for the investment, Curve will deploy to BNB Smart Chain. The protocol currently operates on multiple chains, having been originally based on Ethereum, and serves as one of decentralized finance's (DeFi's) biggest market makers with several hundred pools in use. On July 30, Curve was drained of $7...

Binance, its CEO Changpeng Zhao (CZ), and the company’s former compliance chief Samuel Lim seek to dismiss the complaint filed by the US CFTC. On March 27, 2023, the Commodity Futures Trading Commission took legal action against Binance for violating the Commodity Exchange Act and offering futures trades without registering as a futures commission merchant (FCM). You might also like: US CFTC takes legal action against Binance, crypto markets fall Moreover, according to the motion , the defendants seek to file two separate motion s to dismiss CFTC’s lawsuit . Binance and CZ file a joint motion while Lim goes independent. The defendants requested the court to allow them to respond with a 50-page motion while currently limited to only 15 pages. Per the document, the defendants’ response against the CFTC needs to be submitted by July 27 to the US District Court for the Northern District of Illinois. Last month, the US Securities and Exchange Commission (SEC) sued Binan...

Note that this move comes after the exchange laid off over 1000 in response to an ongoing Justice Department investigation that will probably result in a consent decree or settlement. advertisement The New Crypto Enforcement Team The National Cryptocurrency Enforcement Team, or NCET, would be a permanent fixture of a branch inside the department’s criminal division that handles a variety of computer-related investigations, according to a speech given by top Justice Department official Nicole Argentieri on Thursday. After Eun Young Choi , the team’s current director, leaves, Claudia Quiroz will take over as acting director, according to Argentieri. According to a department official, Choi will be moving on to a new post inside the Justice Department. In 2021, the Justice Department established NCET. Since then, a slump in the sector and the demise of the cryptocurrency exchange FTX have increased the team’s output and profile. Sam Bankm...

Binance to Retire Deposit Addresses As Part of Wallet Upgrade According to an official announcement on July 6, Binance is upgrading its wallet infrastructure in order to provide its users with “better efficiency and fund security.” However, it will cause selected deposit addresses and memos to retire in batches by networks. advertisement Binance will notify its impacted users in batches through inmail notifications. The impacted users are requested to obtain a new address and memo upon receiving the notification. The crypto networks impacted by wallet infrastructure upgrades are set for migration in Q3. It includes major networks such as Bitcoin, XRP, Bitcoin Cash, Cardano, Solana, Litecoin, Dogecoin, Polkadot, and Avalanche. Other networks are XMR, ALGO, FIL, NEAR, SEGWITBTC, WAVES, HBAR, RUNE, EGLD, FLOW, ICP, EOS, KAVA, DASH, ELF, IOST, IOTA, STX, WAX, CKB, ICX, ASTR, SCRT, INJ, BAND, STEEM, HIVE, XEM, FET, and BTS. Memos are required for XRP , ...

The Binance-founded blockchain has introduced a new layer-2 chain opBNB, though some suggest there are other ways to scale the network. Binance-founded layer -1 blockchain BNB Chain has introduced a new layer -2 chain it hopes to address its “scalability challenge.” On June 19, BNB Chain unveiled opBNB which launched as a testnet on June 19. The new layer -2 scaling solution is based on the Optimism OP Stack which it says will add additional security and scalability to the Binance blockchain network. The system is an Ethereum Virtual Machine (EVM) compatible layer-2 chain, which means it works with Ethereum-based smart contracts, networks, and ERC-20 token standards. Blockchains are often plagued by network congestion and high fees during times of increased network demand. BNB Chain currently claims around 2,000 transactions per second with transaction costs of around $0.10. According to the announcement, opBNB can support over 4,000 transfer transactions per second and an average tr...

“Operations would quickly grind to a halt” Without the ability to pay employees, vendors, suppliers and professionals or to maintain the trading platform, the operations will quickly grind to a halt, Binance.US attorneys said Monday in a court filing. “With a freeze of all corporate assets, banking partners would most likely cease to honor requests to transfer funds for any purpose, including customer redemptions,” the exchange added. The SEC had requested the federal court to seize assets of  Binance.US , after it sued Binance entities and founder Changpeng Zhao last week, alleging “blatant disregard of US securities laws” and “years of violative conduct” that puts customer funds at risk. Binance assures US customer assets are safe Binance.US attorneys further argued in their court filing that US customer assets are safe and said “there is no need for the draconian relief sought by the SEC.” As reported earlier, the US SEC had filed an emergency action application for a tempo...

CZ Refutes Reported Outflows As Inaccurate According to CZ , Binance ’s internal data reveals a net outflow of approximately $392 million within the last 24 hours. He pointed out that certain third-party Analysis firms determine outflows by measuring changes in Asset Under Management (AUM) in USD equivalent, which includes the impact of crypto price drops. CZ emphasized that this approach may not accurately represent the actual outflows and that it combines two distinct concepts. Read More: Hong Kong Legislator Invites Coinbase To Establish Crypto Operations Moreover, the 46-year-old crypto mogul clarified that while crypto price drops reduce AUM, they should not be classified as outflows. While arguing that the public wallet addresses of Binance make it possible for anyone to track the movement of funds, CZ noted that some analysis firms solely measure outflows without considering inflows — which can lead to a skewed representation of Binance’s asset movements. ...

According to Whale Alert, a whale has recently moved 52,052,832 Polygon (MATIC) tokens from Binance US to an unknown wallet. The value of the tokens moved is around $42.08 million. 52,052,832 # MATIC (42,082,720 USD) transferred from #BinanceUS to unknown wallethttps://t.co/BVAuWnyIsD — Whale Alert (@whale_alert) June 7, 2023 The reason for the move is most likely because of the U.S. SEC’s (Securities and Exchange Commission) move against Binance and Coinbase. In its lawsuit against Coinbase, the SEC named Polygon (MATIC), Solana (SOL), and Cardano (ADA) as unregistered securites. Other tokens named in the suit include FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. The suit may have spooked the whale into removing the tokens from Binance’s American arm. The whale currently faces uncertainty from two ends. Firstly, the Polygon ( MATIC ) tokens were on Binance, which has been slapped with a lawsuit. Secondly, the whale was holding a token which has been called an unregiste...

Binance, Binance US, and Changpeng Zhao (CZ) have been sued by the Securities and Exchange Commission (SEC) in a case that alleges they offered and sold unregistered securities, failed to register their functions with the SEC, wash-traded tokens, mishandled customer funds, and used Binance US as a shield to attract regulatory attention. This follows a similar case launched by the Commodities and Futures Trading Commission (CFTC) several weeks ago. Earlier reporting by Forbes examined the “Tai Chi” documents, which were created for Binance by a consultant, and recommended setting up a US-based entity to attract the attention of regulators and distract from other violations. The SEC case alleges that CZ followed this plan in establishing Binance US. Binance’s chief compliance officer (CCO) is quoted in the complaint as saying, “We do not want [Binance].com to be regulated ever.” This same executive also suggested that “on the surface, we cannot be se...