“If this is frontrunning, there could be a few reasons for it,” he wrote. “Insider MNPI, most likely from a rogue employee connected to the listings team who would have details on new asset announcements, or a trader who found some sort of API or staging/test trade exchange leak.” Source
Crypto exchanges Binance and Huobi have frozen cryptocurrencies worth approximately $1.4 million linked to North Korea, according to blockchain analytics firm Elliptic. The firm noted that the stolen funds, which were dormant until recently, originated from the June 2022 hack of Harmony’s Horizon Bridge. North Korea-Linked Crypto Frozen by Binance and Huobi Blockchain analytics firm Elliptic said Tuesday that it has collaborated with cryptocurrency exchanges Binance and Huobi “to freeze Lazarus Group hack proceeds.” Elliptic wrote: Crypto exchanges Binance and Huobi today froze accounts containing approximately $1.4 million in cryptoassets…
Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng ‘CZ’ Zhao said in a Feb. 14 Twitter Spaces that Binance would look to “diversify” its stablecoin holdings away from BUSD. We’re live! Tune-in to our Twitter Space AMA with @cz_binance below https://t.co/bXIztCKdry — Binance (@binance) February 14, 2023 Despite minting nearly…
An investigative report has suggested that major cryptocurrency exchange Binance was behind transferring roughly $400 million in funds from a Binance.US account to a trading firm managed by Changpeng Zhao. According to a Feb. 16 Reuters report, an investigation of Binance’s banking records and company messages showed more than $400 million was sent in a series of transactions starting in 2020 from an account controlled by Binance.US to trading firm Merit Peak. The United States Securities and Exchange Commission reportedly launched a probe into potential connections between Binance.US and the…
According to the report, Binance moved the funds between January and March 2021 from BAM Trading’s Silvergate Account. BAM Trading is the name of the entity operating Binance US. Merit Peak is a trading firm that the U.S. Securities and Exchange Commission (SEC) is investigating over its ties to Binance. Source
Last year former Binance Chief Financial Officer Wei Zhou bought Coins.ph, a mobile wallet and digital currency exchange, from Indonesian technology company Gojek. Coins.ph, also called the Coinbase of Southeast Asia, was founded in 2014 and was one of the earliest crypto wallets and exchanges in the Philippines. It later shifted its focus to providing broader financial services. Zhou had previously left Binance for personal reasons. He had worked there for three years. BCN: How do you feel about governments trying to regulate crypto platforms, which seems to be the…
Note that the whole staking balance cannot be withdrawn on the day of the upgrade. Besides, only 43,200 ETH can be unstaked per day. However, the total staking reward earned, which comes to around 1 million ETH, can be withdrawn instantly, according to Saxo Bank. Source
Binance, the world’s leading crypto exchange by trading volume, will temporarily suspend bank transfers in U.S. dollars. The exchange stated in a tweet on Feb. 6 that no other trading methods would be affected. The announcement came with no explanation. However, exchange CEO Changpeng Zhao noted in a tweet that only 0.01% of the exchange’s total users will be affected by the suspension while assuring that they are looking to resolve the issue soon. Recently, Binance encountered related financial issues in the U.S. On Jan. 21, its SWIFT transfer partner,…
The world’s largest digital asset exchange, Binance, is preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States. According to a Feb. 15 WSJ report citing the firm’s chief strategy officer Patrick Hillmann, Binance has been working with regulators to remedy past compliance issues. Hillmann stated that Binance is “working with regulators to figure out what are the remediations we have to go through now to make amends for that.” He added that the outcome of ongoing investigations will likely be…
Though regulatory scrutiny on Binance has intensified following its rival FTX’s collapse last November, Binance has been under investigation by the U.S. Attorney’s Office for the Western District of Washington since at least 2018, according to Reuters. The Department of Justice (DOJ) has reportedly sent at least two trading firms subpoenas in recent months, requesting records of their past dealings with Binance US. Source