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Breaking: Binance Achieves Milestone With World’s First Crypto Triparty Arrangement

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Binance, the world’s largest crypto exchange, has successfully executed the world’s first cryptocurrency triparty arrangement with a third-party banking partner. This innovative solution offers institutional investors the ability to securely maintain trading collateral off-exchange entrusted to a trusted banking partner.

The triparty arrangement, revealed in a recent press release, addresses a longstanding concern among institutional investors about counterparty risk. Binance’s pioneering initiative introduces a framework reminiscent of traditional financial markets, allowing investors to tailor their crypto-asset allocation according to risk tolerance.

Notably, collateral stored with the banking partner can take the form of fiat equivalents, including Treasury Bills, presenting the added benefit of being a yielding asset. Catherine Chen, Head of VIP and Institutional at Binance, emphasized the significance of mitigating counterparty risk. She stated:

Our team of crypto natives and traditional finance professionals has been exploring a banking triparty agreement for more than a year to address their concern. We’ve developed a solution that ensures our institutional clients can optimize their collateral and cryptocurrency investments, modeled after the traditional markets’ trading conduct.

This milestone represents the first of several pilot projects initiated by Binance, solidifying its position as the sole cryptocurrency exchange offering such a groundbreaking solution. Chen also disclosed ongoing discussions with various banking partners and institutional investors expressing keen interest in participating.

User Behavior Shift On Binance Post $4.3B Settlement

Meanwhile, data from blockchain analytics firm Nansen indicates a notable shift in user behavior on the Binance platform. After the recent $4.3 billion settlement with the United States Department of Justice, the platform experienced a surge in withdrawals, surpassing $1 billion. 

However, recent data reveals a change in this trend, with a net inflow of $87.4 million in Ethereum token deposits over the past week. The net withdrawal of multichain tokens, including Ethereum, BNB, AVAX, and MATIC, amounted to $59.2 million during the same period.

Despite the tumultuous turns, the value of BNB, Binance’s official token, has remained relatively stable at $227 over the past month. The exchange has witnessed over $7.62 billion in user withdrawals but has also seen deposits totaling $7.56 billion in digital assets, marking a dynamic period for one of the leading players in the crypto space.

Related Reading | Coinbase vs. SEC: Navigating Murky Waters in a Regulatory Turf War

Crypto Updates: Exploring Legal Challenges, Token Surges & Market Resilience

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Last week marked a significant turning point in the cryptocurrency industry as two major legal events unfolded, impacting some of the largest players in the space, according to the Kaiko report. The U.S. Justice Department concluded its investigation into Binance, resulting in a historic $4.3 billion settlement.

Simultaneously, the SEC charged Kraken for running an unregistered securities exchange. These developments had ripple effects across the market, influencing trading volumes, market share dynamics, and the valuation of key tokens.

Binance’s Landmark $4.3B Settlement & Market Impact

After months of legal battles, Binance, one of the world’s leading cryptocurrency exchanges, agreed to a landmark $4.3 billion settlement with the U.S. Justice Department. The settlement also saw the resignation of Binance’s CEO, Changpeng Zhao, who pleaded guilty in connection with the case. Despite the hefty penalty, the exchange can continue operating, albeit with increased restrictions and ongoing monitoring.

Binance experienced outflows of over $1 billion following the settlement, but the immediate impact on trading volumes and liquidity was subdued. Bitcoin (BTC) and Ethereum (ETH) even closed the week slightly up. Market depth for top-traded instruments on Binance initially dropped around 25%, recovering to prior levels at approximately $100 million.

However, the legal turmoil took its toll on Binance’s market share, which had already been declining throughout the year. As of yesterday, Binance’s market share stood at 46%, a significant drop from over 70% at the beginning of 2023.

The exchange’s native token, BNB, saw volatility, dropping by 6.8% after the settlement news. BNB’s trade volume spiked to $1.6 billion, reaching its highest level since the FTX collapse.

Oracle provider Pyth made waves in the market by releasing its long-anticipated token through an airdrop to users who had interacted with protocols using Pyth’s feeds. The native token is based on the Solana blockchain, but users across various blockchains received the airdrop.

The token’s launch exhibited typical price divergences seen during past airdrop-based launches, with significant variations in trading prices on different platforms.

DeFi borrowing rates on lending protocols, specifically Aave V2 and Compound V2, remained high. Compound reported an annual percentage rate (APR) of about 13%, while Aave’s rates fluctuated between 4% and 15% for USDC.

The demand for stablecoins contributed to the high borrowing rates, with utilization rates trending higher due to increased borrowing demand in the short term and the migration to respective V3s over the long term.

Moreover, Bittrex Global, one of the oldest crypto exchanges founded in 2014, announced its shutdown on December 4. Once a major player, Bittrex’s market share plummeted from nearly 20% to less than 1% since the 2017 bull market. The closure aligns with increased regulatory scrutiny by the U.S. SEC against centralized exchanges.

SEC’s Impact on Crypto Assets

The U.S. SEC’s enforcement actions against centralized exchanges and its designation of several altcoins as securities have reshaped the cryptocurrency landscape. Kraken, Coinbase, Bittrex, and Binance faced legal challenges, impacting the market value of assets mentioned in SEC complaints. Following the Binance settlement, however, the market showed resilience, with Bitcoin briefly reaching a yearly high of $38,000.

AI tokens experienced a surge in weekly trade volume, reaching a multi-month high of over $3 billion in early November. The positive market sentiment was attributed to improved macro conditions and better-than-expected quarterly results by chipmaker Nvidia. Binance, despite a decline in market share, remained the largest market for AI-linked tokens. Coinbase emerged as the second-largest market, capturing 9% of global AI token volumes.

Bitcoin’s appeal as a portfolio diversifier strengthened throughout the year, showcasing a decoupling from traditional assets while delivering significant returns. Altcoins, including XRP and BNB, exhibited reduced correlation with BTC. Bitcoin’s outperformance in recent months attracted institutional inflows, driven by optimism surrounding a potential spot ETF approval.

As the cryptocurrency market navigates these legal and market dynamics, stakeholders remain vigilant, anticipating further developments in the weeks to come. The industry’s resilience and adaptability will be tested as regulatory scrutiny and market forces continue to shape its trajectory.

Related Reading | Terra Classic (USTC) Surges 300% in Remarkable Rally

Top Stablecoins and Crypto Presale of 2023: A Deep Dive into BNB, USDT, & Slayboy Token As 100x ROI Option

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In a space where volatility is not a new thing, stablecoins like Tether and Binance USD surface, offering safe haven for risk-averse investors. Just when it seemed like these coins had the market cornered, along comes Slayboy Token (SLAY), igniting a revolution in mature content creation and fostering open discussions about adult activities. It emerges as a fresh and dependable alternative, poised to become one of the standout crypto presales of 2023. 

Stablecoins Champion Risk-Averse Investors

In the cryptocurrency ocean, where prices rise and fall like rogue waves, stablecoins are steadfast options that guide investors to safer shores. Essentially, they reduce price volatility by backing their values against fiat currencies — like the US dollar. Tether (USDT) and Binance USD (BUSD) stand tall among these digital beacons.

Slayboy Token, the newcomer in the vibrant crypto space, aims to be a dependable option in more ways than one. Just as USDT and BUSD provide stability against the crypto market’s tempestuous tides, SLAY seeks to offer a reliable platform for mature content enthusiasts. With privacy and discretion at its core, Slayboy Token may soon become another beacon of security.

Stablecoin Dynamics, Paving The Way For Slayboy Token

USDT and BUSD, as stablecoin giants, have traditionally provided a safe haven for risk-averse investors in the turbulent seas of the crypto market. However, recent events have shaken their positions. USDT’s market capitalization declined by 0.45% in Quarter 3, primarily due to increased regulatory scrutiny, banking crises, and economic uncertainty.

Although regulated by government entities, where customers’ assets are available for 1:1 reprieve, Binance USD is also seen licking its wounds. It has shed off a whopping 38.65% in market capitalization in Q3.

As stablecoins’ stability is shaken, investors are searching for a reliable store of value, and Slayboy Token aims to provide just that. SLAY introduces a paradigm shift by embracing the adult entertainment sector while championing innovation and privacy. It allocates 10% of tokens for community incentives and charitable causes, setting it apart from the competition.

Slayboy Token Balances Pleasure and Money-Making Adventure

While other cryptocurrencies may be content with crunching numbers and exchanging value, Slayboy Token takes a different route. It’s on a mission to merge mature content with financial freedom, creating an ecosystem where sensuality meets security, and investments are as stimulating as they are reliable.

Slayboy Token’s presale will be akin to the grand opening of the hottest club in town, where everyone will be clamoring to get in. The SLAY Manor, aka their exclusive community, will be a haven where privacy reigns supreme, secrets stay locked away, and desires are treated without judgment. 

Additionally, Slayboy Token is in the process of implementing community voting to select incentives. It is set to advance through the SlayDex, its very own decentralized exchange platform. Given its ambitious goals, SLAY will undoubtedly capture attention. In turn, this will make the up-and-coming coin among the top crypto presales of 2023.

“Reliability is King”

In a land where reliability is king, stablecoins like Tether and Binance USD shine as beacons of fantastic crypto returns. While not born from the same lineage as stable cryptocurrencies, Slayboy Token aspires to be the anchor for those embarking on both exhilarating and dependable crypto escapades! Have you prepared for the ride?

More about Slayboy Token:

Website: https://slayboy.space/ 

Telegram: https://t.me/SlayboyToken 

Twitter: https://twitter.com/SlayboyToken

Binance Coin (BNB) Plummets 15% Amid Market Turbulence As CZ Takes A Bow

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Binance Coin (BNB) finds itself in the eye of a storm as its CEO, Changpeng Zhao, commonly known as CZ, steps down from his position. The repercussions of this unexpected departure have panicked the cryptocurrency community, causing a significant impact on BNB’s value. BNB’s price fell almost 15% after the news, to $225.

According to the data from CoinMarketcap, BNB is currently trading at $238.41 with a 24-hour trading volume of $2 billion, experiencing an almost 74% boost. Meanwhile, BNB is DOWN 4% in the last seven days chart. 

The news broke as the Department of Justice (DOJ) reportedly found CZ guilty of money laundering and fraud, adding a layer of complexity to the situation. The resulting FUD (Fear, Uncertainty, and Doubt) has triggered a sharp decline in BNB’s value, making it one of the hardest-hit altcoins in the current market turmoil.

According to Santiment, a leading crypto analytics platform, the market sentiment is heavily influenced by CZ’s resignation. Investors and traders are grappling with the uncertainty surrounding Binance, the world’s leading cryptocurrency exchange, and the potential implications of the DOJ’s findings.

Santiment’s analysis suggests that if Binance can swiftly recover its reputation and address the concerns raised by CZ’s departure, there may be a chance for a BNB price rebound. The extent of FUD in the market will play a crucial role in determining whether buy-the-dip opportunities will emerge for traders looking to capitalize on the current volatility.

Altcoins Navigate Challenges Amid Binance Fallout

In a recent tweet, Santiment emphasized that the impact on altcoins extends beyond Binance’s specific situation. The broader cryptocurrency market has already been experiencing a decline in market caps, and CZ’s resignation has exacerbated the existing challenges.

Interestingly, some traders are reportedly shifting their focus from BNB to FTX Exchange’s native token, FTT. This move suggests that investors are exploring alternative options amid the uncertainty surrounding Binance, seeking refuge in assets perceived as more stable in the current market conditions.

Nevertheless, the coming days will likely witness increased volatility in altcoin markets as the crypto community continues to digest the news of CZ’s departure and the associated legal implications. Whether Binance can successfully navigate these turbulent waters and restore confidence remains uncertain, leaving the fate of Binance Coin hanging in the balance.

Related Reading | Ethereum Surge In Address Activity As Market Watches Critical Juncture At $2,120

BNB Price Surges, $250 Holds the Key to More Upsides

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The price of Binance Coin (BNB) has successfully avoided a substantial decline below the $200 mark and has, in fact, staged a recovery against the US Dollar. This resurgence has seen Binance Coin surging past the $235 threshold, although it now encounters several hurdles around the $245 and $250 levels.

As of the latest data, the BNB price is gradually ascending towards the pivotal $250 resistance. It presently resides above $235 and is supported by the 100 simple moving average over a 4-hour span.

A notable development is forming a crucial bullish trend line, offering support at approximately $241.5, according to the 4-hour chart of the BNB/USD trading pair sourced from Binance.

For Binance Coin to attain bullish momentum, it must achieve a clear break above the $250 threshold. 

BNB Price Rebounds by 10%

Over the past few days, the BNB price has initiated a recovery wave, exceeding the $220 resistance line. This positive trend in BNB can be attributed to the recent upswings in Bitcoin, Ethereum, and other altcoins, culminating in a significant uptick in BNB’s value.

Gradually, BNB steadily progressed above the $232 and $235 resistance marks, eventually reaching the $245 resistance level. A peak was reached at around $245.8, and the price is presently consolidating these gains. Importantly, the price maintains its position above the 23.6% Fibonacci retracement level, calculated from the lower swing point of $222.5 to the higher point at $245.8.

Notably, BNB is also trading above $235 and is complemented by the support of the 100 simple moving average over a 4-hour period. Forming a pivotal bullish trend line, establishing support at $241.5 on the 4-hour chart of the BNB/USD pair, reinforces the positive outlook.

In the event of further advancement, the price may encounter resistance around the $245 level. Subsequently, the next significant resistance level lies at $250. An unambiguous breach of the $250 mark could propel the price even higher, with $265 as the next likely target. If the price surpasses the $265 resistance, it could set the stage for a more substantial surge toward the $280 resistance.

Potential Downside Correction

However, should BNB struggle to overcome the $245 resistance, a downside correction may be in the offing. Initial support on the downside is located around the $240 level, coupled with the established trend line.

The subsequent crucial support level is positioned near $235 or the 50% Fibonacci retracement level, calculated from the lower swing point at $222.5 to the higher point at $245.8. In the event of a breach below the $235 support, the price might decline towards the $226 support. Further losses could potentially trigger a more significant downtrend, pushing the price closer to the $220 level.

BNB’s Meteoric Rise: Early Holder’s $54M Profit and Ongoing Journey

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In a remarkable turn of events, an early Binance Coin (BNB) holder recently deposited 7,005 BNB, valued at a staggering $1.48 million, into Binance once again. This move has sent shockwaves throughout the cryptocurrency community and has prompted a closer examination of BNB’s extraordinary journey.

Source: Lookonchain

The early BNB holder’s journey began with an initial investment that has now turned into a jaw-dropping profit of over $54 million. This astronomical gain is a testament to the exceptional growth and potential of Binance Coin since its inception.

The token, the native cryptocurrency of the Binance exchange, has experienced exponential growth over the years. It has evolved from a simple utility token used for trading fee discounts on the platform to a multi-faceted digital asset with various use cases. Its journey to becoming one of the top cryptocurrencies in the world has been nothing short of impressive.

The recent deposit of 7,005 tokens by the early holder demonstrates their continued faith in the cryptocurrency. While some may argue that the holder is reducing their exposure to the token, it is essential to recognize that they still possess 5,447 tokens, valued at $1.15 million. This remaining stake suggests that they believe in the long-term potential of BNB, even after reaping substantial profits.

BNB’s Unstoppable Ascent

BNB’s success can be attributed to several factors. Binance’s robust ecosystem, which includes a decentralized exchange (DEX), launchpad for new projects, and a growing list of partnerships, has contributed to the token’s utility and demand. Additionally, the Binance Smart Chain (BSC) has become a hub for decentralized finance (DeFi) and non-fungible tokens (NFTs), further boosting the token’s relevance in the crypto space.

As the crypto market continues to evolve and mature, BNB’s ongoing success story serves as a compelling case study. It illustrates how early adopters of promising projects can achieve life-changing profits and highlights the resilience of cryptocurrencies in the face of market volatility. The token holder’s decision to reinvest in the cryptocurrency emphasizes that the token’s journey is far from over and that it continues to hold immense potential for the future.

Tron Dominates Daily Active Addresses, Surpassing Ethereum And BNB

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In a remarkable surge, Tron, the blockchain platform facilitating smart contracts and decentralized applications (dapps), has witnessed explosive growth in its Daily Active Addresses (DAA). DAA, a key metric measuring the number of unique addresses engaged in token transactions on a blockchain daily, is emerging as a game-changer for Tron’s ecosystem.

As of October 6, data shared by DeFi analyst Alex Wacy, citing Token Terminal, unveiled a startling revelation. Tron boasts over 1.9 million DAA, more than double that of BNB Chain, which, at the time of reporting, stood at 915,000. Ethereum and Polygon trailed behind with 320,000 and 301,000 DAA, respectively, while Bitcoin, the pioneer of blockchain technology, held 570,000 daily active addresses.

This rapid growth implies that Tron is creating 200,000 new addresses daily. Furthermore, essential metrics underscore Tron’s dominance, showcasing participation from a substantial 188 million unique accounts in a remarkable 6.5 billion transactions. This highlights the Network’s commanding presence in the cryptocurrency ecosystem.

Tron’s Dominance In Stablecoin Transactions

Analysts suggest that the surge in Tron’s DAA might be attributed to its pivotal role in stablecoin transactions. Stablecoins, designed to maintain parity with the value of traditional fiat currencies like the USD, find a robust home within the network, with approximately $45 billion of all stablecoins adhering to the TRC-20 standard. Notably, 50% of all USDT transactions occur on the Tron blockchain.

Tron’s ascent in DAA is particularly noteworthy amidst a cryptocurrency landscape grappling with volatility and relatively subdued on-chain activity, particularly in areas like DeFi, the metaverse, non-fungible tokens (NFTs), and blockchain technology.

DeFiLlama data shows a significant decline in Total Value Locked (TVL) in DeFi, now below $40 billion from a peak of $173 billion in late 2021. When examining Daily Active Addresses (DAA), newer third-gen platforms like Tron, BNB Chain, and NEAR Protocol outpace legacy networks such as Bitcoin and Ethereum in terms of cost-effective fees and throughput, attracting more users.

However, it’s important to note that Bitcoin and Ethereum remain prominent despite lagging in DAA. While DAA is a pivotal metric for gauging user interaction with a network, Bitcoin and Ethereum still reign as the preferred blockchain choices.

Bitcoin’s enduring dominance is attributed to its first-mover advantage, robust adoption, and extensive listing on virtually all major exchanges, facilitating daily transfers worth millions, if not billions, of dollars. These factors have solidified its position above Ethereum, although the latter boasts higher activity density, especially regarding fees generated from smart contract executions and transfers.

CryptoFees, a reputable source for economic data related to blockchain protocols, reveals that Ethereum has accrued over $2 million in transaction fees, surpassing Bitcoin’s earnings by more than double. Despite Tron’s impressive surge in DAA, the established giants of the blockchain domain maintain their positions, each exhibiting distinctive strengths and attributes.

Binance Charity’s Response to Moroccan Earthquake: Beacon of Hope

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In the wake of the recent devastating earthquake in Morocco, Binance Charity has emerged as a beacon of hope for the affected communities. The cryptocurrency exchange platform has announced an ambitious plan to airdrop up to $3 million in Binance Coin (BNB) to its users living in the affected areas, primarily the Marrakesh-Safi Province.

One of the key elements of this initiative is the utilization of Proof of Address (POA) completed before September 9, 2023, to identify eligible users. Those who fulfill this requirement in the Marrakesh-Safi Province will receive a substantial $100 in BNB directly to their exchange accounts. This proactive approach ensures that immediate relief is provided to those who need it most.

Recognizing that not all affected users may have completed their POA, Binance Charity has extended its support to those who complete the process between September 9 and September 30, 2023. These users will receive a commendable $25 in BNB as an aid measure, further underlining Binance’s commitment to assist earthquake victims.

But the scope of their assistance doesn’t stop there. Binance has gone above and beyond by extending help to active transacting users across Morocco who are not in the affected area. Each of these users will receive $10 in BNB, emphasizing the platform’s dedication to fostering a sense of community and collective responsibility.

It is estimated that approximately 70,000 Binance users living in Morocco will benefit from this humanitarian effort, with funds starting to reach them as of September 12, 2023.

In a world where traditional banking systems can falter during crises, cryptocurrencies have emerged as a lifeline. They offer fast, low-cost, borderless, and transparent transactions, making them an ideal medium for delivering much-needed financial aid during emergencies.

Binance Leading the Way in Compassionate Technology

Binance’s founder and CEO, CZ, articulated the platform’s mission eloquently, stating, “The impact of the earthquake on the Moroccan people is devastating. We hope we can bring some support to those affected. For Moroccan users who receive these donations but are unimpacted by the earthquake, we ask them to pass the funds on to those most in need.” This call for solidarity exemplifies the ethos of cryptocurrency communities and their commitment to making a positive impact.

Additionally, Binance Charity has launched a public donation address, inviting contributions from anyone willing to help. The total cryptocurrency amount collected will be donated to an authorized NGO, with further details to be announced soon. This demonstrates Binance’s commitment to a collaborative approach to disaster relief.

In these challenging times, Binance stands firmly by its users, reaffirming its dedication to the global crypto community. As the platform explores additional avenues for assistance in Morocco, it sets a commendable example for the entire crypto industry, showing that technology can be a force for good when used responsibly and compassionately.

BNB Bulls Roar As $220 Marks Key Battle Zone Amid Short Squeeze Frenzy

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In a recent series of tweets, market analyst Skew Δ provided insights into the current situation surrounding the cryptocurrency BNB (Binance Coin). According to the analyst’s observations, spot buyers of BNB have been instrumental in driving the coin’s value higher, particularly toward a crucial price level of $220. This move is seen as significant, as reclaiming this price area could potentially indicate a surge in confidence among Binance Coin investors. 

However, the market’s funding aspect remains relatively neutral when viewed in aggregate terms. Skew Δ also highlighted developments in its trading activity on the Binance exchange. Notably, the data reveals a substantial decrease in BNB Binance Open Interest and Delta Shorts, coinciding with the coin’s recovery to the $220 mark. 

This reduction in short positions was accompanied by spikes in the perpetual delta (bid), suggesting that short sellers might have been experiencing a squeeze in their positions. A key point of interest lies in the growing perp premium, which aligns with the concept of a significant short squeeze.

Examining the spot market for BNB on Binance, it becomes evident that a considerable amount of BNB was sold to buyers who were willing to purchase at higher prices, particularly around the $220 level. It aligns with logical expectations during a short squeeze scenario. 

The current demand for Binance Coin at the $200 level contrasts with the available supply at $240 and beyond. To confirm the strength of the market, BNB needs to reclaim and hold the $220 price level successfully.

Iceberg Buyer Alert: BNB’s $220.40 Bids Filled

In a separate tweet, Skew Δ provided further insights into the situation. An “Iceberg buyer” emerged in the BNB Binance spot market at a price of $220.40. This buyer’s significant bids were filled substantially, signaling strong interest at this price level. However, the analyst expressed cautiousness, suggesting that a sudden reversal in price from this point might not be ideal.

Nevertheless, these updates from Skew Δ provide a comprehensive overview of the recent dynamics surrounding BNB’s market performance, with particular emphasis on the interaction between spot buyers, short squeezes, and crucial price levels.

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Rapid Rise Of Binance & BNB In Crypto Trends Amidst Controversy

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In a recent tweet, blockchain data analytics firm Santiment highlighted that Binance and its native cryptocurrency, BNB, are currently dominating discussions in the cryptocurrency sphere. According to their data, these two topics have surged to the forefront as the first and third fastest-rising subjects in the crypto landscape.

Howeve­r, not all attention directed toward Binance­ has been positive. De­spite its reputation as a prominent cryptocurre­ncy exchange, the exchange has face­d various challenges from regulatory authoritie­s and encountered se­veral setbacks in the marke­t.

Adding to their troubles, just rece­ntly, Binance experie­nced another setback whe­n their payment processing partne­r, Checkout.com, officially terminated the­ir collaboration. This development furthe­r worsened the e­xchange’s already difficult situation.

Adding to the turmoil, a fresh rumbling within the crypto community has gained traction. Speculation has been swirling regarding Binance’s alleged involvement in selling off its Bitcoin holdings on the spot market. The intent behind this purported move, as per the rumor, is to bolster the value of BNB, the exchange’s native token, and maintain it above crucial support thresholds.

The alle­gations gain immense significance as the­ exchange holds substantial amounts of both Bitcoin and BNB, positioning itself as a pote­ntially influential player with the powe­r to shape market dynamics.

While caution is ne­cessary when approaching such claims, the ongoing narrative­ regarding Binance’s activities highlights the­ complexities and hurdles face­d by major players in the crypto industry.

US DOJ Probes Binance For Potential Russian Sanctions Violations

In a recent development, the unfolding situation has taken a more concerning turn. According to a report from the Wall Street Journal (WSJ), the United States Department of Justice (DOJ) has initiated an investigation into potential violations by Binance. The focus of the inquiry is whether Binance’s actions could be in breach of U.S. sanctions imposed on Russia.

The inve­stigation has uncovered that the e­xchange has facilitated transactions for Russian customers with at le­ast five banks currently under Unite­d States sanctions. These financial institutions have­ been targete­d due to their connections with Russia.

In response­ to the allegations, the e­xchange has affirmed its dedication to complying with inte­rnational sanctions regulations. The company emphasize­s its proactive enforceme­nt of restrictions against individuals, organizations, entities, and countrie­s flagged under these­ protocols.

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