- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
Main topic: Hackers stole $62 million from Curve Finance, raising concerns about the strength of the decentralized finance ecosystem.
Key points:
1. Curve Finance is one of the largest decentralized exchanges (DEX) with $1.67 billion in total value locked (TVL).
2. Several DeFi projects' pools were also hacked, resulting in significant losses.
3. The hack was caused by a bug in older versions of the Vyper compiler contract programming language.
4. The hack represents about 4% of Curve's TVL, but a white hat hacker returned $5.4 million to Curve.
5. The hack highlights ongoing challenges and vulnerabilities in the crypto space.
The FBI has seized $1.7 million worth of cryptocurrencies, including significant amounts of Ether and stablecoins, from March to July of this year, primarily from hardware wallets and Binance accounts.
Binance, the world's largest cryptocurrency exchange, caused confusion by mistakenly announcing on social media that euro transactions were no longer available, but it was clarified that euro transactions will continue until September 25th with Binance's banking partner in the region. However, the exchange is currently facing legal troubles and difficulties in various countries, making it challenging to find alternatives.
Binance US is reportedly reconsidering its decision to discontinue fiat on- and off-ramp services and is working on integrating new US dollar on-ramp solutions, potentially partnering with payment provider MoonPay to allow users to buy and sell cryptocurrencies in dollars.
BNB, the cryptocurrency linked to Binance, dropped to a one-year low of $204 due to regulatory scrutiny, including allegations that Binance helped Russian users move money abroad and rumors that they are selling bitcoin to support BNB's price, while a distressed BNB-secured loan and a potential liquidation added to the token's downward pressure.
The Drug Enforcement Agency (DEA) lost over $55,000 in seized cryptocurrency to a common scam after falling victim to a crypto address spoofing attack. The scammer was able to trick the DEA by airdropping a fake address that resembled the real one used by the United States Marshals Service, resulting in the agency mistakenly sending the funds to the scammer's account. The scammer then converted the funds into ether and moved them to a new wallet, with over $425,000 received since June, and over $300,000 of that amount being moved in the last three weeks. The FBI is leading the investigation into the theft.
The FBI has issued a warning that North Korean threat actors may attempt to cash out stolen cryptocurrency valued at over $40 million, with recent investigations revealing that the group has moved approximately 1,580 bitcoin and is currently holding those funds in six different wallets.
Binance, the largest cryptocurrency exchange, has contacted low-liquidity token projects to enhance their liquidity protection by requesting details about their market makers and asking if they would contribute tokens to Binance savings pools.
Bitcoin holds steady at $26,000 ahead of Jerome Powell's speech at Jackson Hole, while Binance reaches out to projects with low-liquidity tokens to enhance liquidity protection, and Num Finance introduces a Colombian peso-pegged token on the Polygon network.
Binance has lost business with Mastercard and Visa as traditional financial institutions become wary of working with the cryptocurrency exchange due to regulatory scrutiny and concerns over compliance within the crypto industry.
Binance experienced a rapid withdrawal of $150 million worth of Bitcoin in one minute, indicating potential factors such as security, investment strategy, or preparation for a major transaction, while also raising speculation about market moves and potential illicit activities.
Ethereum mixer Tornado Cash co-founders Roman Storm and Roman Semenov have been charged with money laundering over $1 billion in criminal proceeds, while FTX-affiliated Farmington State Bank has been shut down for attempting to create a stablecoin without proper approval. Prime Trust has filed for bankruptcy after losing $6 million of customer money in Terra-Luna gambling, and Binance has lost its UK payment processor Checkout.com over money laundering concerns. Furthermore, Sam Bankman-Fried plans to blame FTX's lawyers for his decision-making in his legal defense. The SEC has sued Titan for promising unrealistic investment returns, Coinbase has suspended certain stablecoins for Canadian users, and the Centre consortium that issued the USDC stablecoin is being dissolved.
Binance faces scrutiny over SEPA concerns, market manipulation allegations, and sanction violations, while regulators crack down on crypto-related crimes; meanwhile, scams and allegations of insider trading plague the crypto industry.
Binance, the world's largest crypto exchange, has banned Russia-based users from trading in all currencies except the ruble due to a U.S. Justice Department investigation into possible violation of financial sanctions on Russia.
Binance, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
Binance, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
The U.S. Securities and Exchange Commission (SEC) has filed a secret motion in its case against Binance, leaving the bitcoin and crypto market on high alert for potential volatility in September.
An alleged hacker made suspicious withdrawals totaling $16 million from the crypto gambling site Stake.com, raising concerns about stolen funds and the security of crypto gambling platforms.
Popular crypto betting platform Stake lost around $40 million in unauthorized transactions, with $16 million leaving the platform in Ethereum, Tether, USD Coin, and DAI, and an additional $25 million drained on Binance Smart Chain and Polygon, according to blockchain security experts.
Summary: Binance froze the wallet of a scammer involved in the PopcornSwap rug pull scam, which stole over $2 million, after nearly two years of inaction, but only with the consent of all BNB Chain validators, highlighting the risks and challenges of seeking reimbursement in decentralized blockchains.
Binance is refunding users $1 million and implementing measures to prevent future incidents after users were unable to withdraw their CYBER Earn assets due to a cross-chain bridging issue.
Binance has seen the departure of 10 key executives, Nasdaq has received approval to trade AI-based orders, former FTX CEO Sam Bankman-Fried's bail has been denied, and Grayscale has asked the SEC to discuss the conversion of its Bitcoin fund to an ETF; Bitcoin is at $25,871, Ether is at $1,635, and XRP is at $0.50.
Welsh Bitcoin investor James Howells is preparing to take legal action against the Newport City Council in an attempt to retrieve 8,000 Bitcoins he accidentally discarded, now worth $557 million, matching the highest recorded value of his lost Bitcoin, potentially causing financial disaster for the council.
Hackers behind the $41 million hack of cryptocurrency casino Stake have moved an additional $328,000 million worth of Polygon and BNB tokens to the Avalanche blockchain, bringing the total transferred funds to $4.8 million, representing 1.2% of the total stolen amount.
Binance.US CEO Brian Shroder leaves as the crypto exchange downsizes its workforce due to regulatory pressures, including a lawsuit from the SEC.
CoinEx, a global cryptocurrency exchange, suffered a hack where large amounts of digital assets were stolen, with preliminary estimates suggesting a loss of around $43 million, possibly linked to the North Korean hacking group Lazarus.
Binance.US is accused by the SEC of not cooperating in a probe and violating federal securities law by using a custody provider provided by its international arm, but the exchange claims that regulators are on a "futile fishing expedition" and asserts that customer assets are safe.
Billionaire Mark Cuban lost around $870,000 in a crypto wallet hack, prompting Binance CEO Changpeng Zhao to urge the community to prioritize crypto security. Cuban managed to prevent further losses by moving his remaining assets to Coinbase before the attacker could seize them.
The United States Securities and Exchange Commission (SEC) has been denied immediate access to Binance.US's software by a federal judge, who requested more specific requests for discovery.
Hong Kong-based cryptocurrency exchange CoinEx has confirmed that compromised private keys allowed hackers to steal over $70 million worth of tokens, and is working on rebuilding its wallet system to restore functionality and compensate affected users.
Bitcoin trading volumes on Binance, the world's largest crypto exchange, have plummeted by 57% amid lawsuits and regulatory scrutiny, while competitor Coinbase has seen a 9% increase in volumes over the same period.
Binance's staked ether token, BETH, saw a significant increase in deposits, raising the total value locked to $731 million, despite regulatory uncertainty and competition from other platforms offering higher yields.
