A former cryptocurrency exchange executive remarked that Bitcoin is an inescapable reality, a statement that stirred a discussion within the crypto community. The comment made by the former CEO of Binance, Changpeng Zhao, was a reaction to the report that another American state sought to establish a local version of US President Donald Trump’s proposed Strategic Bitcoin Reserve. Related Reading: 10x Dogecoin: The ‘Secret Window’ You Need To Know, According To This Analyst Bitcoin Reserve Bill The proposal to create a US Strategic Bitcoin Reserve is gaining momentum as several US states passed legislation that seeks to establish a localized version of a BTC reserve and build their crypto portfolio. Satoshi Action Fund posted on its X account that Montana’s proposed House Bill No. 420 which seeks to create a localized Bitcoin reserve has been passed. “Strategic Bitcoin Reserve legislation in Montana passes out of committee and moves onto a House floor vote,” Satoshi Action Fund said. Representative Curtis Schomer sponsored the BTC-related bill. “Montana becomes the 4th state to pass SBR out of committee. Utah, Oklahoma, Arizona, and Montana,” Dennis Porter, CEO and Co-Founder at Satoshi Action Fund, noted on his social media post. ‘No Escape’ With this development, CZ posted his thoughts on the Montana legislation, implying that Bitcoin has become an unavoidable reality while saying, “There is no other choice.” countries or individuals. There is no escape… It’s like, you can’t not use the internet (or money). ????♂️ — CZ ???? BNB (@cz_binance) February 19, 2025 “You can buy bitcoins after the US government is done buying, or before,” CZ said in a post, indicating that buying the firstborn cryptocurrency is inescapable and that it is no longer a debate whether to buy or not but rather when investors should make a purchase. A crypto trader agrees with CZ’s opinion that no one can avoid BTC. “Front-run the biggest buyer in history, or wait until there’s nothing left. The choice isn’t if—it’s when.” The trader added that those late in adopting BTC will have to pay the premium for not making the move earlier. “Countries or individuals. There is no escape… It’s like, you can’t not use the internet (or money),” CZ replies to a crypto streamer who said that other countries are also thinking in the same way Montana did in creating a Bitcoin reserve. BNB Donation In a separate post, CZ emphasized the significance of crypto donations to help other individuals during disasters. The ex-Binance executive shared that his previous donation was returned to him with additional crypto, describing it as something unexpected. Earlier, CZ gave away 150 BNB worth $100,000 to crypto investors who lost their money in a pump-and-dump scheme related to the LIBRA coin, a digital asset that was briefly promoted by Argentina’s president, Javier Milei. Related Reading: Bitcoin Ready For ‘Take Off’—Analyst Reveals Key Signals CZ said that he sent the BNB to a university student, who added $50,000 of his own money to aid the victims. He believes that the student might have earned decent profits on BNB and decided to return the crypto to CZ with a bigger value. Featured image from Finans, chart from TradingView
Blockchain analytics platform Nansen announced the launch of its Bitcoin (BTC) on-chain analytics to bring real-time, detailed insights into the flagship cryptocurrency, enabling users to track key on-chain metrics in the platform. Related Reading: Ethereum To Move Sideways For 2-3 Months? Analyst Says Longer ETH Consolidation Is Needed Nansen Brings Real-Time On-Chain Analytics For Bitcoin On Thursday, Nansen introduced its Bitcoin Growth Dashboard to provide a detailed view of the flagship crypto’s market movements and address the lack of user-friendly tracking tools for in-depth analysis in the market. The analytics platform noted that examining Bitcoin’s network at the same level as other blockchains has been difficult since most tools use “outdated address labeling, fragmented data, or require advanced technical skills to extract meaning insights.” As a result, the new Bitcoin on-chain analytics aims to bring “the same depth of data that Nansen users have relied on for Ethereum and other blockchains to Bitcoin” by enabling traders, institutions, and analysts to monitor active addresses, transactions, and the principal entities interacting on the network. Alex Svanevik, Nansen’s CEO, shared his excitement about Bitcoin analytics, explaining that users can use the platform to monitor detailed key BTC on-chain metrics: Bitcoin is the most important asset in crypto, and we’re thrilled to finally bring Nansen’s industry-leading analytics to BTC. With our platform, users can now track Bitcoin’s key onchain metrics with the same level of detail and precision they expect from Nansen. The new data aggregation will allow users to see the exchanges and entities that move the most BTC to tackle the “guesswork” on whether the transaction spikes are retail-drive, institutional-driven, or exchange reshuffling. Users can also observe BTC’s liquidity and supply shift in real time to identify crucial trends before they hit the broader market. Additionally, they can track the crypto market’s sentiment with address activity data, offering users “a new way to gauge Bitcoin’s adoption and investor sentiment.” BTC Transactions See 42% Daily Surge Nansen’s new Bitcoin on-chain analytics revealed exchange dominance and shifts in network activity. According to the analytics platform, the largest Bitcoin-active entities include some of the world’s biggest crypto exchanges. The data shows that Binance, Bybit, OKX, Robinhood, and KuCoin are among the top 5 BTC-active exchanges. Binance dominates the list with 40.68% of tracked BTC transaction activity, followed by Bybit’s 23.36% and OKX’s 18.88%. Meanwhile, Robinhood continues to emerge as a key Bitcoin custodian with its 8.72% share, Nansen pointed out. It also noted that the network trend shows significant transaction spikes between April and June 2024, likely fueled by institutional moves, major market events, and mine behavior changes. In the past 24 hours, the number of Bitcoin active addresses has declined by 16.82% to around 462,390, suggesting network activity has slowed. The number of active addresses has hovered between 335,000 and 668,000 since September, surpassing the 600,000 mark several times since the November US elections. Related Reading: Solana Risks Further Drop Amid $180 Support Retest – Is The SOL ‘Memecoin Fiesta’ Over? Nonetheless, BTC transactions recorded a 42.33% increase during the past day, surging to approximately 453,600, which signals a demand for block space. Lastly, the on-chain analytics platform also revealed that it will introduce Token God Mode and Nansen Profiler for BTC in the coming weeks to offer “deeper insights into wallet behaviors, transaction flows, and market trends.” Featured Image from Unsplash.com, Chart from TradingView.com
Nigeria Sues Binance for $81.5 Billion in Economic Losses and Back Taxes
Binance.US has reinstated USD deposits and withdrawals for its US customers, marking a significant shift after months of operating as a crypto-only platform. The exchange announced on Feb. 19 that users can now deposit and withdraw US dollars without fees via bank transfers (ACH). The firm stated that the fiat services rollout begins today and […]
The post Binance.US restores USD access, aims for market resurgence amid SEC’s legal troubles appeared first on CryptoSlate.
Nigeria’s Federal Inland Revenue Service (FIRS) has taken legal action against Binance Holdings Limited, demanding over $81 billion in unpaid taxes and penalties. On Nov. 19, local media outlet Nairametrics reported that this claim includes $79.5 billion in economic damages and an additional N231 million ($153,223) tied to Binance’s operations. The tax authority also seeks […]
The post Nigeria demands $81 billion from Binance in unprecedented tax and penalty blitz appeared first on CryptoSlate.
Access to fiat services begins Wednesday, and will be gradually rolled out to all eligible customers over the coming days, Binance.US said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Nigeria's tax authority Federal Inland Revenue Service (FIRS) also claimed Binance operated illegally within the country.
Fiat functionality was paused in June 2023 after the SEC sued Binance.US, alleging violations of securities laws.
Nigeria’s Securities and Exchange Commission (SEC) is working on a plan to tax crypto transactions as part of a broader effort to increase government revenue, Bloomberg reported on Feb. 18. According to the report, the regulatory body intends to bring eligible crypto transactions on licensed exchanges under the country’s tax framework. Meanwhile, a bill outlining the […]
The post Nigeria reportedly advances crypto tax plan while grappling with Binance dispute appeared first on CryptoSlate.
Binance CEO Richard Teng has warned the crypto community about a rising scam called “share-seed-phrase.” In a Feb. 18 post on X, Teng revealed that fraudsters use this deceptive tactic to manipulate victims into transferring funds to wallets controlled by them. How the scam operates In a blog post, Binance explained that the scammers impersonate […]
The post Rising ‘share-seed-phrase’ scam targets crypto holders, Binance CEO warns appeared first on CryptoSlate.
Binance co-founder Yi He said the company is frequently approached about potentially taking on new investors
Crypto pundit Andrei Jikh has reignited the $100 XRP price target, sparking a bullish sentiment in the XRP community. The analyst outlined several factors that could contribute to the parabolic rally to the ambitious $100 target. Factors That Could Contribute To The $100 XRP Price Target In a YouTube video, Jikh highlighted a potential end to the Ripple SEC lawsuit as one of the factors that could spark the XRP price rally to the $100 target. He cited the SEC’s removal of the Ripple case from its website, which indicates that legal pressure is easing. The Commission’s agreement with Binance to pause their ongoing legal battle has also sparked optimism that the Ripple lawsuit could soon end. Related Reading: XRP Price Enters Golden Pocket: Analyst Says It’s A Good Buy At These Levels Jikh then alluded to a Nasdaq report stating that 80% of Japanese banks are set to adopt XRP for global payments. The analyst is confident that this move will cause adoption to skyrocket, which could contribute to the projected rally to $100. He noted that Japan’s banking system is huge, which makes this a big deal for the altcoin. Furthermore, the crypto pundit highlighted the potential approval of the XRP ETFs as another factor that could drive the XRP price to the $100 target. He noted how the Bitcoin price surged to new highs after the Bitcoin ETFs were approved, and Jikh believes something similar could happen. Another factor that the crypto analyst believes could contribute to the XRP price rally to $100 is the possibility of Ripple’s payment system replacing SWIFT. He highlighted how the global payment industry is worth trillions of dollars. As such, Ripple processing a huge chunk of these global payments could cause XRP’s utility and demand to skyrocket, ultimately impacting its price. Other Bullish Fundamentals For The Altcoin Meanwhile, Jikh also alluded to the XRP Ledger (XRPL) and Ripple’s Real USD (RLUSD) as factors that could contribute to the XRP price rally to $100. He noted that the XRPL processes around 1,500 transactions, making it a potential option for tokenization plans, which is bullish for the asset. Related Reading: XRP Bulls Shake Off Crash, Target This Major Resistance On The Road To $3.85 If the XRPL becomes the go-to platform for tokenizing real-world assets such as stocks and bonds, this will help drive demand up and make the crypto more valuable. The RLUSD stablecoin is also bullish for XRP as its burn mechanism helps remove XRP from circulation as its utility grows. Jikh then alluded to the possibility of Ripple CEO Brad Garlinghouse being on the White House Crypto Advisory Council. This is especially bullish for the XRP price as Garlinghouse being on the Council could cement its place in the newly-created US sovereign wealth fund. At the time of writing, the asset’s price is trading at around $2.55, up over 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
Changpeng Zhao (CZ), the former Binance CEO, is under scrutiny following the emergence of multiple memecoins named after his dog, Broccoli. On Feb. 13, Zhao revealed his Belgian Malinois dog’s name and photo after multiple requests from community members. While Zhao assured that he would not launch a Broccoli-themed token himself, he hinted at trading […]
The post Changpeng Zhao’s dog sparks Broccoli memecoin boom and controversies appeared first on CryptoSlate.
A Washington D.C. district judge has allowed Binance and the SEC to stay their legal dispute for the next 60 days.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
There have been recent concerns within the crypto community regarding Binance’s recent activities after a claim surfaced that the exchange had been offloading large amounts of Bitcoin and Ethereum. The Binance selloff trend was first noted on social media platform X by a market participant known as AB Kuai.Dong (@_FORAB), who noted that the crypto exchange had allegedly been selling off its Bitcoin and Ethereum holdings. Did Binance Trigger The Market Crash? The crypto market has endured a turbulent two weeks, with Bitcoin at the center of a series of price crashes. The downturn began as Bitcoin plunged to $92,000 on February 3. Although a brief recovery saw BTC climb toward $98,000 on February 11, the momentum proved short-lived. Bitcoin has since struggled to regain momentum and is hovering around $95,000. Related Reading: Bitcoin Long-Term Holders Complete Largest Market Sell-Off Since 2021, Is The Top Here? Unsurprisingly, Bitcoin’s price crash rippled across the market, dragging down other cryptocurrencies. On the same day Bitcoin hit its local low, Ethereum fell below $2,470. As noted by AB Kuai.Dong, Binance may have contributed to the downturn. Data shows that crypto addresses owned by Binance have seen a drastic decline in their holdings in recent few days. Particularly, AB Kuai.Dong noted that Binance had allegedly been selling off a huge part of its crypto holdings, which cuts across Bitcoin, Ethereum, Solana, BNB, and some stablecoins. On-chain data revealed that Binance has experienced a drastic 94.1% reduction in its Bitcoin holdings between January and February. The outflow was even more extreme for Ethereum, where balances dropped by 99.9% over the same period. BNB, Solana, and Tether USDT have also been reduced by 16.6%, 99%, and 99.9%. Interestingly, AB Kuai.Dong noted these assets were primarily past revenue generated by the platform rather than user funds. He also pointed out that a significant portion of the sold cryptocurrencies had been converted into USDC, which has increased by 57.5% in Binance’s wallets. Binance Responds To Market Crash Allegations AB Kuai.Dong quickly gained traction among crypto traders and investors on X, particularly those searching for explanations for the recent drop in Bitcoin and Ethereum prices. As the biggest crypto exchange in the world, a major selloff by Binance would be one of the worst things to happen to the cryptocurrencies involved. Related Reading: Analyst Says Prepare For Ethereum Price To Hit $17,000, Here’s Why However, Binance was quick to address the concerns, firmly denying that it had sold any assets. In an official statement on X, the exchange clarified that what had been observed was merely an internal accounting adjustment within the Binance treasury. As such, Binance reassured users that their funds remained safe and secure as always. At the time of writing, Bitcoin is trading at $95,740, having declined by 2.6% in the past 24 hours. Ethereum is trading at $2,600 and is on a 4.2% decline in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
Tigran Gambaryan, Binance’s former Head of Financial Crime Compliance, has openly criticized the Nigerian authorities for deliberately scapegoating the exchange for the country’s economic challenges. In a Feb. 12 statement on X, Gambaryan, recently released from detention in Nigeria, claimed that Nigeria’s National Security Advisor (NSA) Nuhu Ribadu targeted the exchange instead of addressing corruption […]
The post Tigran Gambaryan claims Nigerian officials targeted Binance to distract from economic scandals appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The newly launched crypto task force could help " facilitate the potential resolution of this case," the court filing said.
The US Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day suspension of their ongoing lawsuit, according to a Feb. 10 filing. Both parties explained that this decision was made because the SEC established a dedicated crypto task force under Acting Chair Mark Uyeda. According to the filing, the task force’s work […]
The post SEC and Binance pause legal battle amid new crypto regulatory task force appeared first on CryptoSlate.
Four.Meme, a memecoin launchpad on the BNB Chain, has suspended its Liquidity Provider (LP) on PancakeSwap after detecting a malicious exploit targeting its system. The team confirmed the attack on Feb. 11 and assured users that steps were being taken to resolve the issue. The platform halted its token LP to prevent further damage while […]
The post BNB Chain’s Memecoin launchpad Four Meme hit by $200k exploit, suspends liquidity appeared first on CryptoSlate.
The joint request was made in consideration of the SEC’s new crypto task force and its potential impact on the crypto regulatory landscape.
The ratio of Binance USDT reserves to user balances also dropped significantly.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Changpeng Zhao said in the notice period of a token's listing, its prices could go high on DEX 'and then people sell on CEX.'
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
CZ clarified that the TST memecoin is not an official BNB Chain token, and neither Binance nor the BNB Chain team holds any of it.
BNB Chain has been making headlines, setting records, and drawing investors worldwide. With a strong Q4 2024 and a $750 all-time high, its Binance-backed token is proving its mettle in a volatile market. Related Reading: Bitcoin $100K Breakdown Spells Trouble For Short-Term Investors—Study The Market Cap Growth Of BNB Chain Although the last year has been somewhat turbulent for BNB, the fourth quarter of 2024 was a pivotal moment. Recent data shows that BNB’s market capitalization reached a solid $100 billion year-on-year (YoY). Messari’s most recent quarterly report indicates that in Q4 2024, BNB Chain grew significantly. The triumph of US President-elect Donald Trump set off a positive crypto market that enabled the price of the crypto to soar on December 7 to an all-time high of $750. Driven by growing institutional interest and demand for blockchain-based assets, this expansion conforms more to general market trends. Network engagement has also been vital for BNB Chain’s development. By means of continuous improvements of projects and developers under the Binance Smart Chain, its ecosystem is reinforced and its key role among blockchain systems is confirmed. Price Ascent And Market Reactions On December 7, 2024, BNB reached $750 per token, marking a new milestone. Rising demand for Binance’s ecosystem, strategic token burning, and improved macroeconomic conditions supporting the bitcoin market have all contributed to this spike. But, after hitting its peak, BNB faced the expected corrections. BNB is now trading for around $573 as of early February 2025, which is consistent with usual market fluctuations. Despite this, investor mood remains broadly positive, with many experts viewing it as a temporary reversal rather than a sign of a long-term collapse. Price Predictions And Future Outlook Market analysts continue to have high hopes for BNB’s future. While altcoin Investors project a maximum price of $1,000, CoinCodex projects that BNB might rise as high as $732 by March 2025. According to these projections, BNB still has space to develop as a result of ongoing adoption, Binance’s growing clout, and possible regulatory clarity in key areas. Related Reading: Bitcoin Bull Market At Risk If Key $97,000 Support Level Fails To Hold, Analyst Warns Also, regular updates to the network and token incinerations may help keep prices rising. In the past, Binance has worked to keep prices stable and increase long-term value by regularly destroying some of its tokens. What’s Next For BNB? With its past success and strong basics, BNB offers optimism for the future. The bitcoin market is usually unstable, but the altcoin has shown that it can handle challenges and benefit from increases in value. Investors will closely watch changes in laws, the overall market situation, and future updates in the Binance ecosystem. It’s uncertain if BNB will reach a price in the thousands this year, but it remains an important part of the digital asset market. Featured image from Binance, chart from TradingView
15.8% of BERA’s initial 500 million genesis supply will be airdropped to Berachain community members, applications and liquidity providers.