Tag: Report

Capital flight from Binance subsides: Report

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It appears that withdrawals from crypto exchange Binance have largely subsided after its $4.3-billion settlement with the United States Department of Justice last week. Data from blockchain analytics firm Nansen shows that Binance witnessed a net inflow of $87.4 million in Ethereum token deposits in the past seven days. Meanwhile, the net withdrawal of multichain tokens, which includes Ether (ETH), BNB (BNB), Avalanche’s AVAX (AVAX) and Polygon’s MATIC (MATIC), totaled $59.2 million during the same period. In the initial aftermath of the $4.3-billion settlement, Binance users withdrew more than $1…

SEC still looking for potential FTX-style fraud at Binance.US: Report

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The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal. In June, the SEC filed a lawsuit against Binance and Binance.US, alleging that the exchange was involved in the sale of unregistered securities and accused Binance and its founder of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack of disclosure and willful disregard for the law.…

Hamas And Hezbollah Pick Tron Instead Of Bitcoin In Crypto Shift, Report

TRON (TRX), a blockchain-based digital platform, has surpassed Bitcoin (BTC) as the platform of choice for financial transfers by groups such as Hamas and Hezbollah, which are designated terrorist organizations by the US, UK, and other countries. According to a Reuters report, this development has opened a new front in Israel’s battle against the funding of alleged Iranian-backed militant groups. Tron Wallets Targeted In Israeli Seizures According to the report, a comprehensive analysis of crypto seizures announced by Israeli security services since 2021 highlights a significant increase in targeting TRON…

Binance CEO Details Prediction, Says Crypto Exchange About To Reinvent Itself With New Corporate Structure: Report

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The new CEO of the world’s largest crypto exchange by trading volume foresees strength ahead for crypto and his company. Fortune reports that Changpeng Zhao’s successor at Binace, Richard Teng, says that Binance’s move towards compliance will pay off in the long term, positioning the company to claim a bigger share of the growing crypto market. Teng, who previously worked as Binance’s head of regional markets, was promoted to the CEO position last week after the company’s previous chief executive, Changpeng Zhao, stepped down. Says Teng, “We are starting from a…

Bitcoin critic, ECB chief Lagarde says her son ‘ignored’ her, lost money on crypto: Report

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European Central Bank (ECB) president and prominent Bitcoin (BTC) critic Christine Lagarde has shared a family story about unsuccessful cryptocurrency investments, according to a report from Reuters. Lagarde told students at a town hall in Frankfurt on Nov. 24 that her son lost “almost all” of his investments in crypto assets despite persistent warnings, Reuters reported. “He ignored me royally, which is his privilege,” Lagarde reportedly declared, adding that he lost “almost all the money he had invested.” The ECB chief didn’t disclose the sum her son lost, noting that he claimed…

It sounds fishy, but SBF really IS trading mackerel in prison: Report

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The crypto trading days of former FTX CEO Sam Bankman-Fried are over, and the recently convicted founder has found a new thing to trade while in jail — fish.  The Wall Street Journal reported on Nov. 23 that Bankman-Fried recently traded four packets of Mackerel — known in prison as “macks” — for a haircut before his criminal trial last month. Mackerel packets have risen to be the hottest trading commodity in United States prisons since tobacco products were banned. Postage stamps and soup packets — “soups” — respectively come…

CoinFLEX creditors dissatisfied with restructuring to OPNX: Report

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Some creditors of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent.  According to a writ of summons filed in the High Court of Hong Kong and seen by Cointelegraph, CoinFLEX creditors claim that OPNX co-founder and former CEO Mark Lamb is “misappropriating and/or otherwise wrongfully using the assets, human resources, intellectual properties, […] trade secrets and other technologies” of CoinFLEX by diverting them into…