Binance Archives

Tether USDT Stablecoin Gains $1 Billion as Paxos Burns Over $1.8B of Binance USD Stablecoins

February 15, 2023

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BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments

February 15, 2023

Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin. Source

Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers

February 15, 2023 boss

Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridge attack on Jun. 24, 2022. Around $1.4 million worth of crypto frozen by the trading platforms came from accounts linked to the notorious Lazarus Group operating out of North Korea. The investigation was carried out by blockchain analytics firm Elliptic, according to a report shared by the firm on Feb. 14. However, the firm didn’t state what coins or tokens were frozen. Exchanges @binance and @HuobiGlobal today froze accounts containing $1.4 million stolen…

Binance and Huobi Freeze $1.4M in Crypto Tied to Harmony Bridge Theft

February 15, 2023

Federal investigators have credited North Korea’s infamous hacker wing the Lazarus Group with attacking the bridge as part of their multi-year campaign to steal hundreds of millions of crypto dollars from exchanges and infrastructure. That campaign funds North Korea’s nuclear weapons program, investigators have said. Source

Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure

February 14, 2023

The maneuver is a sign of investors exiting BUSD quickly. The $700 million redemption in a little more than a day represents some 6% of the total coins in circulation. Changpeng “CZ” Zhao, chief executive of Binance, the world’s largest crypto exchange by trading volume, tweeted Monday that BUSD market capitalization “will only decrease over time.” Source

Binance CEO Distances Himself From BUSD Stablecoin as Regulators Act

February 14, 2023

CZ said Binance will continue working with other stablecoin issuers, and noted he’s skeptical about claims Circle raised alarm bells with regulators. Source

Binance Hires Former Gemini-Exec as Chief Compliance Officer: Bloomberg

February 14, 2023

Perlman started in the role at Binance in January, having spent two and a half years as COO of Gemini and previously one year as CCO. Source

Binance withdrawals and BUSD redemptions surge post Paxos crackdown

February 14, 2023 boss

Cryptocurrency exchange Binance has seen a surge of withdrawals over the last 24 hours as investors appear to be spooked over recent news of regulatory action against Paxos and its stablecoin Binance USD (BUSD). At the same time, the BUSD token has recorded significant redemptions, with 342 million BUSD burned over the last 24 hours according to Peckshield. #PeckShieldAlert ~342M $BUSD have been burned at Paxos Treasury within the last 24 hours, $BUSD MarketCap: $15.8Bhttps://t.co/BMeVokqVE6 pic.twitter.com/hJdnixxbtD — PeckShieldAlert (@PeckShieldAlert) February 14, 2023 On Feb. 12, news broke that the United…

Binance BNB Token Price Plunges, but Bitcoin BTC Price Holds Near $21.8K Amid US Regulatory Uproar

February 14, 2023

“If this is a Binance issue, we see further kind of regulatory scrutiny being imposed by the SEC, you do have that headline risk, and I think that’s certainly what’s weighing on crypto markets,” Tastycrypto Head of Digital Assets Ryan Grace told CoinDesk TV. Source

Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange

February 13, 2023

Binance has endured some $828 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November, surpassing the withdrawal surge in December amid fears about Binance’s reserves. Source BinanceBitcoincryptoexchangeDramaExchangeExchangesPaxosBUSDSurgeWeighsWithdrawals CryptoX Portal