Hecht is a familiar face at Binance, having previously served as the global head of corporate compliance at the exchange for the past eight months, after working as the chief compliance officer at Meta’s crypto wallet project, Novi Financial, for less than two years. Earlier in her career, Hecht was a senior policy advisor at the U.S. Department of the Treasury. Source
A legion of Twitter bots pumped the price of crypto tokens traded by Sam Bankman-Fried’s quant trading firm Alameda Research shortly after FTX listed the tokens, according to a report from the Network Contagion Research Institute. NCRI, an institution that studies cybersecurity and social-media threats, published a report on Wednesday that shows that “inauthentic chatter” on Twitter, now X, heavily influenced the prices of five FTX-listed tokens traded by Alameda insiders. The coins were BOBA, GALA, IMX, RNDR and SPELL. Fake tweets regarding the coins surged — by as much…
According crypto exchange Binance CEO Changpeng Zhao’s tweet, Binance has achieved several key milestones, reflecting its ongoing commitment to expansion and innovation. Binance announced that it has hit the 150 million registered users mark. This milestone underscores the platform’s growing popularity and reach in the global cryptocurrency community. In July 2022, Binance revealed that its registered user count had surpassed 120 million, meaning that the exchange has seen a growth of 30 million users within the past year. Binance officially launched its operations in Japan, marking a strategic move into…
“We’re seeing a multitude of influential factors at play, which includes corporate investments, regulatory advancements, macroeconomic shifts, and potential for increased accessibility through financial products like ETFs,” Feng wrote. “MicroStrategy’s continued investment in Bitcoin certainly underscores their commitment, helping solidify corporate interest in digital assets. This, in tandem with anticipation around the upcoming Bitcoin halving event, is influencing market behavior, as traders often view such milestones as potential catalysts.” Original
The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run on the exchange similar to what happened with FTX in November 2022. They are reportedly considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance was already reportedly the target of…
But federal prosecutors fear an indictment could trigger a run on deposits at Binance, causing the exchange to crumble like FTX did last fall. They are weighing alternatives such as “fines and deferred or non-prosecution agreements,” sources told the publication. Source
“Market makers tend to pull orders to avoid getting caught in an unfavorable price swing,” Medalie told CoinDesk. “That is why liquidity disappeared on order books during big market events, such as the March banking crisis or FTX collapse,” she continued. “Right after the Curve exploit, we saw the opposite trend, with liquidity being added to the CRV order books, specifically on the bid side.” Source
Binance Coin (BNB) has recently exhibited a period of price consolidation, displaying a lateral movement within the range of $245 to $234 over the past two weeks. This intriguing price action has given rise to a bullish reversal pattern known as the inverted head and shoulders, hinting at potential future price movements. The inverted head and shoulders pattern is a popular technical analysis formation, often indicating a potential trend reversal. It consists of three main components: a low, followed by a lower low forming the “head,” and then another low…
Binance has reportedly continued operations in China, despite the country’s ban on cryptocurrencies, even conducting billions of dollars worth of transactions monthly, according to a Wall Street Journal investigation. The WSJ report says its reporters, along with current and former employees of Binance, viewed “internal figures” that revealed users traded $90 billion in cryptocurrency-related assets in China during the time span of only one month. However, as these claims surfaced Binance has come out in denial of conducting any business in China. In a statement given to Cointelegraph via email,…
As investigations loomed, the board of directors of Binance.US voted on whether to liquidate the company but could not come to a unanimous decision, The Information reported. Source