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A court-ordered liquidation process allows FTX to sell nearly $3.4 billion worth of crypto assets in weekly batches starting from $50 million a week. The crypto wallet s linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000). FTX and Alameda linked crypto deposit on Coinbase. Source: SOC The wallet addresses of FTX and Alameda Research made another $5.49 million transfer after three hours to Binance and Coinbase. The top 3 assets with the highest value in this transaction include 1.14 million DYDX ($2.64 million), 192,888 AXS ($1.05 million), and 5,858 AAVE ($522,000). #FTX and #Alameda Research further deposited...

In September it was announced that Binance would be selling off its Russian assets — from its customer’s deposits to loans — to a small, unheard-of crypto exchange called CommEx. As previously reported by Protos, there’s “almost identical language in CommEX and Binance’s terms of service,” and Russian users are, essentially, being bribed to move to CommEx with “a sweet 25% trading discount for BNB holders.” But there appear to be even closer, more direct ties between Binance and the newly created Russian exchange. Emails, transfer agents, and oddities According to X user @intel_jakal, after stopping halfway through a test of the CommEx verification process, they were sent emails reminding them to finish verifying their identity. Unfortunately, those emails weren’t sent from CommEx — they were sent from a Binance email address. Read more: Binance brokers like Nominex continue to serve Russia The screenshot above appears as though the user was trying to sign up wi...

Binance CEO Changpeng “CZ” Zhao declined to pay former FTX CEO Sam Bankman-Fried $40 million in March 2019 to create a crypto futures exchange, according to Michael Lewis’ book “Going Infinite.” According to a The Block report based on the content of the book, the idea of a futures-only exchange was a departure from Binance’s model at the time, as it was still just a spot crypto exchange. After considering it, Zhao turned down Bankman-Fried’s $40 million offer, opting instead to develop a futures exchange in-house. Bankman-Fried went on to create the now-infamous FTX exchange in May 2019, which subsequently collapsed into bankruptcy in November 2022, and is now at the center of Bankman-Fried’s criminal trial which began in New York yesterday. Unlike traditional spot exchanges, futures exchanges allow traders to trade crypto using only a portion of their collateral. Bankman-Fried pitched the idea to Zhao, saying his proposed design would monitor trades by the second and l...

This week, CoinEX and investor Mark Cuban were counting losses as hacks persisted. Despite these setbacks, Deutsche Bank, PayPal, and Franklin stepped into the crypto limelight.  A slew of hacks Much like the previous weeks, crypto-related hacks dominated the scene this week. Vitalik Buterin, co-founder of Ethereum, faced a cybersecurity breach on his X account.  Sadly, this breach resulted in significant financial losses, totaling $691,000 for unsuspecting users who fell victim to a phishing scam spread by the hackers using Buterin’s account. Shortly after the attack on Buterin’s X account, reports revealed that Seychelles-based crypto exchange Remitano had fallen victim to a hack, leading to up to $2.7 million in losses. The attack occurred on Sept. 14 and involved the movement of tokens such as USDT and USDC across three chains. Furthermore, hackers leveraged a flaw in GALA’s contract following the project’s recent upgrade which resulted in the cre...

Traders say the record-low number of BTC held on exchanges is a bull signal, but data suggests otherwise. Crypto analysts on X (the social media platform formerly known as Twitter) and in YouTube interviews have been abuzz with talk about the trend of Bitcoin leaving centralized exchanges. On Aug. 29, the quantity of Bitcoin (BTC) held within exchanges saw a decline, reaching its lowest point since January 2018. While various factors might underlie this movement, experts analyzing blockchain data often interpret the shift as a positive indicator. Traders are now questioning what might have been causing Bitcoin’s inability to break above $31,000 since this price action doesn’t align with their view that fewer coins on exchanges is bullish for the BTC price. The perspective on the decline of Bitcoin held at centralized exchanges stems from the notion that when traders withdraw their coins, it signals a bullish sentiment. This is typically associated with a strategy of holding assets in...

Binance expands its Latin American footprint with Send Cash in nine countries , aiming to facilitate remittances and cross-border payments. Binance has extended its footprint in Latin America by introducing Send Cash— a new service offering low-cost crypto transfers in the region. This announcement comes as positive news for the Latin crypto community, as Binance stopped its crypto debit card services in the region last week. This development amplifies the use of Binance Pay, the company’s payment gateway, allowing individuals across the region to send funds to local bank accounts. Initially, the feature will only be available for recipients with bank accounts in Colombia and Argentina, but it will soon be rolled out to seven other countries . Send cash. Instant. Low fees. https://t.co/sqBnIAqABQ — CZ Binance (@cz_binance) August 29, 2023 The feature will be available to users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Pana...

The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they have also claimed that they changed their ways and are serious about follow ing the rules. Binance has since moved to limit its Russia trading service, telling platform users that they can’t exchange digital tokens for currency other than rubles.  You might also like: Binance suspends P2P transactions with sanctioned Russian banks At present, Binance isn’t the only exchange operating in the country; other cryptocurrency trading platforms include OKX, ByBit, Gate.io, and KuCoin, among others. The sanction viol...

Binance Regulatory and Banking Partner Challenges in Europe Germany’s financial regulator BaFin recommended Binance to withdraw its license application in the country. The regulator has concerns about CEO CZ and the crypto exchange’s complicated structure, reported the Wall Street Journal on July 29. advertisement According to people familiar with the decision, Binance CEO CZ wouldn’t pass a “fit and proper” test. Furthermore, the organizational structure of Binance impeded the effectiveness of regulatory oversight, making supervision difficult for regulators. Binance has withdrawn license applications in the Netherlands, Austria, Germany, and Cyprus. The crypto exchange faces scrutiny from France, Belgium, the UK regulators, even losing its European banking partner PaySafe. After losing USD and AUD support, some believe Binance is being cut off from the European banking system. The challenges for Binance CEO CZ continue to rise a...

Ethereum (ETH) prices are roughly 18% from June 2023 lows at the back of increasing ETH staking and massive withdrawals from centralized cryptocurrency exchanges like Binance and Coinbase.  As of June 25, ETH is changing hands at $1,912, steady in the past two days but trading within a bullish formation following sharp gains this week.  Further buoyed by fundamental factors, traders are confident that there could be more price gains above immediate liquidation levels, including April 2023 highs at $2,100. More ethereum staked According to Etherscan data, there have been over 216,000 transactions that have seen users stake over 25.5 million ETH worth over $48.9 billion at spot rates. Notably, this trajectory has been steadily rising, indicating support from the broader Ethereum community and confidence in the state of the network. You might also like: Ethereum’s zkSync Era reaches $500m in TVL Ethereum recently shifted from a proof-of-work to a proof-of-stak...

U.S. stock markets hit year-to-date highs, the Fed pauses rate hikes, Binance.US and the SEC reach an agreement, but data shows Bitcoin bulls remain somewhat skittish. After a momentary retest of the $25,000 support on June 15, Bitcoin (BTC) gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months. The dismissal of Binance.US's temporary restraining order by United States district court Judge Amy Berman Jackson is somewhat related to investors’ sentiment improving. On June 16, the exchange reportedly reached an agreement with the U.S. Securities and Exchange Commission (SEC), avoiding the freeze of its assets. On a longer timeframe, the global regulatory environment has been extremely harmful to cryptocurrency prices. Besides the SEC trying to unilaterally label exactly which altcoins it views as securities and litigating with the two leading global exchanges...

Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development. Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security . The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6. In response, Dorsey tweeted “ETH is not a security ? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange Commission (SEC) chair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security . clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck weighed in on Werthei...

NFT Whale Stands With Binance According to Etherscan, numerous NFT belonging to BAYC and MAYC have been moved to crypto exchange Binance by Machi Big Brother. With a combined value of nearly 2,900 ETH, Machi Big Brother’s action further ignited discussions around the ongoing battle between regulatory authorities and the crypto industry. advertisement Machi Big Brother, also known as Jeffrey Huang, gained recognition in the NFT space as one of the largest holders of BAYC NFTs . Though he has been associated with several failed token projects and NFT ventures. The decision by NFT Mogul to transfer their valuable BAYC and MAYC NFTs to Binance comes at a time when the exchange is facing legal challenges from the SEC. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Binance Burns 1.2 Billion Terra Classic (LUNC) Tokens Binance sent 1.612 billion Terra Luna Classic ( LUNC ) tokens to the burn address, contributing to reducing the LUNC  circulating supply, as the burn transaction. It also includes a transaction fee of 2.53 million LUNC . Notably, the 9th batch of the LUNC burn mechanism is for the period March 31 to April 29, 2023. Binance has burned over 31.83 billion Terra Classic tokens in total from spot and margin trading fees. advertisement The decline in the LUNC burn rate by Binance is due to a fall in spot and market trading volume in April. The Terra Classic witnessed an overall decline in the burn rate as contributions to the LUNC burn campaign fell. The exchange burning 50% of the LUNC spot and margin trading fees instead of 100% also causing the LUNC burn rates to fall. Last month, Binance burned 1.6 billion LUNC tokens. Also, Binance burned 8.85 billion Terra Luna Classic (LUNC), which marked the offici...

Japan's FSA warns Binance, Bybit, MEXC Global and BitForex, among others, for unregistered operations as it cracks down on crypto exchanges in Japan. In a warning letter released on Friday, Japan's Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration , violating the nation's fund settlement laws. According to the warning letter, the FSA stated that the listed Exchanges had breached Japan's fund settlement regulations by conducting crypto asset exchange business without proper registration . The regulator clarified that the current list of unregistered traders may not accurately represent the current state of unregistered businesses. The FSA’s action follows a crackdown on unregistered crypto exchanges in the east Asian nation. In 2020, the FSA introduced new regulations requiring crypto exchanges to register with ...