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Why The Shiba Inu Community Is Baffled By Binance 6.4 Trillion SHIB Transfer

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Shiba Inu has been making headlines recently as the release of the Shibarium upgrade was teased by Shytoshi Kusama three days ago. However, things might not be going well outside the ecosystem. Recently, Whale Alerts noted several multi-billion SHIB transactions by Binance to an unknown wallet. 

These recent transactions came after the Voyager altcoin transfers which included over 270 billion Shiba Inu coins worth over $ 3 million. This is especially discomforting for investors as this could set a negative mood in the next couple of weeks. 

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Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

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The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.

Mastercard and Binance have announced the launch of a bitcoin and crypto backed prepaid card in Brazil, Latin America’s largest economy. 

According to a blog post, the Binance Card is currently in beta testing and is expected to be widely available in the country in the next few weeks. The Binance Card is currently already available in many European countries.  Read more...

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Why Binance Opened 90% Of Accounts Closed For An U.S. Investigation

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Following the collapse of the crypto exchange FTX, most global regulators intensified their watch on crypto-related activities and platforms like Binance. As a result, some have opened investigations on most of the crypto industry’s prominent crypto exchanges and trading platforms. 

Crypto exchange Bitzlato has been under investigation by the United States Department of Justice (DoJ). The watchdog has unveiled some incriminating facts regarding money laundering activities on the platform. Subsequently, the US DoJ charged the crypto exchange’s founder and majority owner for unlicensed money transfers.

According to a recent report from FinCEN, the leading crypto exchange Binance is noted as the most significant Bitcoin counterparty for Bitzlato.  Read more...

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Bitcoin Bearish Signal: Aged Supply Flows Into Binance

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On-chain data shows a significant amount of old Bitcoin supply has flowed into Binance today, something that could be bearish for the crypto’s price.

Bitcoin Supply 1-6 Months Old Has Been Deposited To Binance

As pointed out by an analyst in a CryptoQuant post, this aged supply is likely to be in profits and hence the deposits could have been done to sell it. The relevant indicator here is the “Spent Output Age Bands” (SOAB), which measures the total amount of Bitcoin that each age band in the market is moving currently.  Read more...

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Binance Charity Set To Fund Over 30,000 Web3 Education Scholarships In 2023

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Binance Charity – the philanthropic branch of the Binance Exchange – has announced its plan to provide over 30,000 Web3 education scholarships as part of its Binance Scholar Program. 

According to an official blog post on the crypto exchange’s website, Binance Charity revealed it has processed over 82,000 applications to the Binance Scholar Program since the launch of the initiative back in July 2022.

So far, 67,155 of these applications have been approved for funding, with 36,500 slots awarded back in 2022, while the remaining 30,655 places are to be allocated in 2023.  Read more...

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Binance And Huobi Team Up To Recover Stolen Funds From Harmony One Exploit

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Hacking in the crypto industry has been a prominent part of the space. One of the recent significant ones, the Harmony bridge exploit, has been under investigation since it occurred. The latest update indicates that the largest cryptocurrency exchanges, Binance and Huobi, have teamed up to recover some of the stolen funds. 

The information was disclosed by Binance CEO Changpeng Zhao (CZ) in a tweet posted on Jan. 16. CZ tweeted, “We detected Harmony One hacker fund movement. They previously tried to launder through Binance, and we froze his accounts. This time he used Huobi. We assisted Huobi’s team in freezing his accounts. Together, 124 BTC have been recovered. CeFi helping to keep DeFi SAFU.”  Read more...

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XRP Whale Withdraws $38M From Binance, Bullish?

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Data shows an XRP whale has taken out $ 38 million from the crypto exchange Binance. Can this be a bullish signal for the crypto’s price?

XRP Whale Has Withdrawn Almost $ 38 Million From Binance

As per data from the crypto transaction tracker service Whale Alert, a large XRP transaction has been spotted on the Ripple blockchain during the past day. This transfer involved the movement of 94,311,360 tokens, worth almost $ 38 million at the time of the transaction.  Read more...

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Binance To Increase Workforce By 15%-30% Despite Crypto Winter

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Crypto exchange Binance has decided to conduct a hiring drive amidst the market turmoil, especially when rival exchanges have been laying off employees constantly.

The crypto exchange will, or at least is planning to, increase its workforce by 15-30% in 2023, as mentioned by Binance CEO Changpeng Zhao at the Crypto Finance Conference held in St. Moritz, Switzerland.

Zhao stated:

We will continue to build and hopefully we will ramp up again before the next bull market.  Read more...

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Binance Joins a Sanction Specialist Association to Further Established Guidelines In Crypto

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Despite the bear market, Binance is one of the firms that has continued to build and make meaningful partnerships with firms and organizations. In its latest headline on partnerships, Binance joined the Association of Certified Sanctions Specialists (ACSS), which provides sanctions training for multinational corporations and financial institutions. 

Founded in 2018, the ACSS provides its members with necessary educational resources and benefits. The company is the first crypto exchange to formally join the association as part of its ongoing efforts to “strengthen its compliance capabilities,” according to a press release published earlier today.  Read more...

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Binance Failing to Get US Exchange Listings for BNB Is Yellow Flag for Crypto Analysts

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Despite being one of the biggest cryptocurrencies, with a market capitalization around $ 40 billion, Binance’s BNB token has failed to win a listing on any major U.S. crypto exchanges, aside from Binance.US. Some analysts are now looking at whether that’s a yellow flag.
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Binance Has No Debt And Assets Are Segregated, Report Says

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Binance has been under intense scrutiny since it released its proof of reserves about a month ago. The crypto exchange had done so in a bid to assure users that all deposited funds were safe and that it was not going to collapse like FTX, but this had backfired spectacularly for the company. As the FUD ramped up, more than $ 6 billion was withdrawn from the exchange in a matter of days. Now, Binance has come forward to address the most pressing questions from the community.  Read more...

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XRP Whale Withdraws $52M From Binance, Can It Help Reverse Price?

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Data shows an XRP whale has withdrawn $ 52 million in the token from Binance, something that might help the crypto turn around from its recent bearish trend.

XRP Remains Weak, Declines Another 10% During Past Week

This month of December hasn’t been kind to XRP investors as the asset’s value has only been going downhill during the period. While other cryptocurrencies have also been suffering, XRP’s decline has been worse than bigger coins like Bitcoin and Ethereum.

At the time of writing, the cryptocurrency is trading around $ 0.34, down 1% in the last 24 hours. The below chart displays the trend in the price of the coin over the last 30 days.  Read more...

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🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022

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The post 🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022 appeared first on 99 Bitcoins.

All eyes are on Binance, MetaMask partners with PayPal, and major investment banks now have …

🔴Is Binance in Trouble? | This Week in Crypto – Dec 19, 2022 Read More »

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The Binance Black Box: Assessing Reserves And Liabilities

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Binance’s bitcoin balance sees its largest one-day outflow ever and the price legitimacy for the exchange-native BNB token is called into question.

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.  Read more...

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How Bankman-Fried Wanted To Attack Binance And Others In Today’s Hearing

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Even though Sam Bankman-Fried has finally been arrested, the founder of FTX continues to make headlines.

Crypto Twitter is currently philosophizing that it is strange timing that SBF is arrested by Bahamian authorities the day before his hearing in front of the US Congress.

Bankman-Fried is reportedly in custody awaiting extradition to the United States. As a result, Bankman-Fried will not be able to give his testimony before the U.S. House of Representatives Financial Services Committee.

Instead, new FTX CEO John Ray will replace his predecessor. Remarkably, however, SBF already had a speech prepared to give today. Forbes managed to get a hold of that document.  Read more...

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U.S. Justice Department Split Over Decision To Charge Binance In Criminal Investigation

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Justice officials are reportedly deciding whether they have sufficient evidence to bring charges against the world’s largest cryptocurrency exchange.

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  • A Reuters report stated that several sources close to the investigation claim there is deliberation on whether to not to file charges against individual Binance executives including CEO Changpeng Zhao.
  • Others within the investigating entities, which include the Money Laundering and Asset Recovery Section (MLARS), have argued in favor of reviewing more evidence.
  • The investigation, which was launched nearly two years ago, comes at a precarious time for the industry as it reels from the collapse of FTX.
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Binance CEO Suggests t Principles For Centralized Exchanges To Prevent FTX Fiasco

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Irrespective of the analytical lens you choose, you might feel that the recent FTX debacle’s impact is heavier than other unfortunate past incidents, especially because it happened when the market was going through a bearish time.

Even though it has a smaller financial impact than those of the Mt.Gox exchange, the DAO hack, and the implosion of Terra, which fell into ruins in the industry’s history. The way how FTX misused its users’ funds and lied when provoked could lead to an uncomfortable effect on investors who are already cautious because of their security and stability concerns.   Read more...

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