The worldโs biggest crypto exchange has now resumed withdrawals, but problems continue to linger for the bitcoin protocol. Original
Bitcoin Network Congestion Causes Binance to Pause Withdrawals
Tag: Binance
Binance re-opens bitcoin withdrawals after brief suspension, blames ‘severe network congestion’
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance, the worldโs largest cryptocurrency exchange, has re-opened bitcoin (BTC) withdrawals after a 1-hour suspension, the latest data on May 7 shows. Binance halts BTC withdrawals Binance said they were halting withdrawals on the Bitcoin network due to what they describe as โsevere congestionโ. We’ve temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue. Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals…
Binance closes BTC withdrawals amid congestion on the Bitcoin network
Crypto exchange Binance closed Bitcoin (BTC) withdrawals on May 7 due to an alleged overflow of transactions on the Bitcoin network.ย Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed at the time of writing. The mempool is known as the “waiting area” for incoming transactions before they are verified independently by each node on the network. Bitcoin mempool at 16:42 UTC on May 7. Source: mempool.space Binance tweeted that BTC withdrawals had resumed after nearly an hour of halting. Outflows on the crypto exchange peaked on…
PEPE holders plateauing after meme coin listing on Binance
The number of pepe coin (PEPE) holders has flat-lined, reading from Etherscanย dataย on May 7. PEPE, a meme coin that has zero utility but is meant to build on the legacy of โPepe the Frogโ, is one of the hottest tokens, reading from the general interest of the crypto trading community. PEPE is rallying, number of holders plateauing The meme coin has surged over 1,200% in the last week alone, outperforming popular coins like bitcoin (BTC) and ethereum (ETH). Despite the significance of these currencies and their position in the crypto…
PEPE flips XRP, ADA to be the third most traded token on Binance
Pepe coin (PEPE), the viral meme coin with zero utility, is now the third most actively traded token on the Binanceโs futures market flipping ripple (XRP), cardano (ADA), and others, statistics on May 7 show. PEPEโs trading volumes rise When writing, bitcoin (BTC) and ethereum (ETH), paired with USDT, the worldโs most liquid stablecoin, only topped PEPE. Associated BTC and ETH trading volumes in the past 24 hours stood at $12.4b and $7.8b, respectively, despite a notable price contraction. PEPE is popular: Binance Meanwhile, the 1000PEPEUSDT perpetual was the third…
Binance Reportedly Investigated in US for Russia Sanctions Violations โ Exchanges Bitcoin News
Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscowโs invasion of Ukraine. Crypto Exchange Binance Faces Another US Probe, Sources Say The U.S. Department of Justice (DOJ) is trying to establish if Binance Holdings, the operator of the worldโs largest crypto exchange, has been used to allow Russians to evade Western sanctions, Bloomberg revealed, quoting multiple sources familiar with…
UK High Court Rules to Set Aside Interim Proprietary Injunction Against Binance โ Regulation Bitcoin News
A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since it was granted after the fraudulently acquired crypto assets in question were moved. Claimant Proceeded Against Binance Without Notice A United Kingdom high court recently ruled to set aside an interim proprietary injunction against the cryptocurrency exchange Binance. The interim injunction, which required…
US Justice Department investigating Binance for violating Russian sanctions: Report
Binance is under investigation by the United States Justice Department (DOJ) national security division for allowing Russians to use the cryptocurrency exchange in violation of U.S. sanctions, according to a report that appeared in Bloomberg on May 5. There have been no accusations against the company or its executive in connection with the investigation. The national security probe is being carried out in tandem with a criminal division investigation, the news service said, citing five unnamed sources. Binance is the object of several investigations in the United States, including a…
US DoJ reportedly investigating Binance for violating sanctions against Russia
Binance is reportedly under investigation by the United States Depart of Justice (DoJ) Departmentโs national security division over suspicions of illegally allowing Russians to evade sanctions and move money through the exchange.ย Binance accused of breaching Russian sanctions According to five sources who wish to remain anonymous, the investigation aims to unveil whether Binance or any of its officials violated sanctions relating to Russiaโs invasion of Ukraine. One of the individuals also mentioned that the probe is proceeding concurrently with an ongoing criminal division inquiry. JUST IN: ๐บ๐ธ US Justice…
U.S. Justice Department Investigating Binance For Russia-Related Sanctions Violations: Bloomberg
Additionally, in early May 2023, Israel reportedly revealed it had seized roughly 190 Binance accounts with alleged ties to terrorist groups, including two accounts to ISIS. Since neither Israel nor Binance explicitly said Binance had cooperated, it isn’t clear how Israel seized accounts on Binance without Binance’s cooperation, given Binance isn’t obliged to adhere to Israeli laws. Source