Tag: Data

Onchain Data Points to Billions in Outflows from Binance Following SEC Lawsuit, CEO CZ Responds

Following reports of increased outflows after news of the lawsuit broke, Binance CEO CZ argued that there was potential for on-chain data to be misinterpreted. Crypto exchange Binance has experienced billions of dollars in outflows over the past week. This is according to on-chain data from various data analytics platforms. The exchange’s CEO Changpeng ‘CZ’ Zhao has argued that such data can be misinterpreted and the situation may not be as dire as it appears. Analytics Data Points to Large Outflows from Binance Following SEC Lawsuit According to major blockchain…

Binance CEO CZ responds as data points to billions in exchange outflows

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While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears.  Leading analytics platforms such as Nansen and DeFiLlama have all measured increased exchange outflows from Binance over the past seven days after news of the SEC lawsuit against the firm hit the airwaves. According to Nansen, there has been a net outflow of $2.36 billion from Binance over the past seven days along with $123.7 million…

Bitcoin price races toward $27K, but a swift recovery is not confirmed by market data

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Bitcoin might have displayed strength by quickly recovering from the $25,500 support level on June 6, but that doesn’t mean that breaking above $27,500 will be an easy task.  Investors still expect stricter regulatory scrutiny after FTX’s bankruptcy in November 2022, including the recent suits against Coinbase and Binance. A total of eight cryptocurrency-related enforcement actions have been undertaken by the United States Securities and Exchange Commission (SEC) over the past six months. Some analysts suggested the SEC is attempting to redeem itself for failing to police FTX by taking action against the…

$1,280,000,000 in Crypto Yanked Out of Coinbase Amid SEC Lawsuit Against the US Exchange: On-Chain Data

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Blockchain data and research firm Nansen says that hundreds of millions of dollars exited the Coinbase group in the wake of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). According to Nansen, Coinbase and the exchange’s custodial arm recorded negative netflows, the sum of deposits and withdrawals, of approximately $1.28 billion after the SEC move. “As we write, the SEC has announced that it is suing Coinbase. Looking at on-chain centralized exchange data, it shows that Coinbase + Coinbase custody have negative netflows of $1.28 billion.” Source:…

Binance likely updated bitcoin confirmation process, on-chain data reveals

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied New on-chain data has picked out activity surrounding Binance’s consolidation transactions. As observed, the latest batch of these transactions has been subjected to a replaced-by-fee (RBF) shift, escalating from 13.5 sats/vb to 56.4 sats/vb.  It is despite these transactions failing to “signal BIP125 replaceability”, suggesting that Binance, the world’s largest exchange, could be running a Full-RBF Peering Bitcoin core advocated by Peter Todd. RBF is a standard protocol in the Bitcoin network allowing the sender to increase the…

Crypto markets rebounded by 83% in Q1 2023 data shows

On-chain data released by Messari, focusing on the layer-1 blockchain ecosystem analysis during Q1 2023, show that the market capitalization of the leading chains rebounded by 83%. Ethereum and BNBChain emerged as the most deflationary networks in Q1 2023. Ethereum leads rebound The cryptocurrency market experienced a rebound in Q1 2023, witnessing an average increase of 83% quarter-on-quarter (QoQ) in the market capitalization of the featured layer-1 blockchains. However, despite this recovery, their market cap remains down by 58% year-on-year (YoY), the researchers note. Among the featured L1s, Ethereum emerged…

Why Did Bitcoin’s BTC Price Rise on Friday? BTC Hovers Over $27K as Crypto Investors Shrug Off Hot Jobs Data

Almost without exception, other major cryptos spent the day solidly in positive territory with ADA and SOL, the tokens of the Cardano and Solana smart contract platforms, recently rising more than 4% and 3.5%, respectively. Meanwhile, a bevy of small DeFi focused protocols were the big gainers of the past seven days, according to the CoinDesk Market Index, a measure of crypto markets overall performance, with Lido (LDO), Synapse (SYN), and PancakeSwap (CAKE), climbing 15%, 13%, and 12%, respectively. The CMI was recently up 1.6%. Original Source 27KBitcoinsBTCCryptodataFridayHOTHoversInvestorsJobsPriceRiseShrug CryptoX Portal

Japan Sends Warning to ChatGPT Creator OpenAI about Collecting Private User Data without Consent

Through its privacy commission, Japan issued a warning and threatened to take action against OpenAI if it violates any privacy regulation. Japan’s privacy agency has announced it issued a warning to OpenAI on using or collecting user data. The Personal Information Protection Commission (PPC) urged the ChatGPT creator to only collect sensitive information with consent from users. In the statement, the privacy watchdog suggests it is currently not investigating OpenAI for any breach of privacy or unauthorized collection of user data. However, it called on the company to “reduce the risk to…