The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd—the operator of Binance Australia Derivatives—over inadequate customer protection practices. According to a Dec. 18 statement, the regulator claims that over 500 retail investors were misclassified as wholesale clients, denying them crucial consumer safeguards. ASIC’s allegations ASIC alleged that between July […]
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The Bitcoin funding rate over the 30-day EMA signals “no visible signs of late-cycle overheating,” according to a crypto analyst.
Binance, Crypto.com, Kraken and other crypto exchanges continue to list Tether’s USDT on their EU platforms weeks before the final MiCA deadline on Dec. 30.
Crypto exchange Binance was hit with a cease and desist letter by Mark Longo, owner of the internet sensation Peanut the Squirrel, for alleged copyright infringement. PNUT, the popular memecoin inspired by the squirrel, saw a nearly 10% decrease following the news. Related Reading: Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum? Internet Squirrel Becomes Memecoin Sensation On Sunday, Mark Longo, owner of Peanut the Squirrel, announced that his legal team had initiated legal action against crypto exchange Binance. In an X post, Longo, also known as “Peanuts Dad,” accused the exchange of using his intellectual property without authorization. The rescued squirrel became an internet sensation after Longo’s online videos became viral, amassing over half a million followers on Instagram. However, Peanut was seized from Longo’s home alongside a rescued raccoon named Fred. Both animals were euthanized to be tested for rabies, as there are not any approved antemortem rabies testing methods for animals by the Centers for Disease Control and Prevention. Following the news, the public condemned Peanut’s death, with several lawmakers criticizing authorities’ actions. It also sparked a wave of Peanut-inspired memecoins, which resulted in the creation of Solana-based memecoin PNUT. Amid the controversy, the token quickly grew in popularity, hitting a $120 million market capitalization in less than a week. Binance announced the listing of the memecoin on November 11, opening spot trading that same day. After the news, PNUT’s price went on a massive rally, climbing to the top 10 memecoins by market cap. The token achieved the $1 billion milestone in less than a month, reaching a $2.27 billion market cap before retracing. For the past month, PNUT has held above the $1 billion mark, with the price hovering between the $1.80-$1.00 price range. Crypto Exchanges Hit With Cease And Desist Letter According to the letter shared by the animal rights activist, Binance allegedly infringed “the intellectual property rights owned by Mr. Longo.” His legal team argues that the exchange’s use of the copyrighted photograph of Peanut the Squirrel wearing a cowboy hat and the “identical” trademark of “PEANUT THE SQUIRREL and PNUT” in the listed memecoin infringes their client’s “various copyrights and trademarks.” The letter demanded that Binance respond to the letter by December 31st, 2024, to verify the exchange received the letter and “have ceased all infringing activity.” Moreover, Longo revealed in his post that this was the first of multiple cease and desist letters to be issued. PNUT faced a 10.2% dip after the news, falling from the $1.17 level to the $1.05 support in 24 hours. The retrace drove the token near its lowest levels in over a month, worrying investors about the memecoin’s performance. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ It’s worth noting that Longo has previously stated his discontent with the PNUT memecoin, accusing the crypto community of profiting from his late pet. As a protest, the animal rights activist launched a memecoin named Justice for Pnut and Fred (JUSTICE), which faced controversy over insider trading allegations. Longo also promoted another memecoin, Justice for Peanut (JFP), in his warning post, which saw a 159% increase after the publication before losing all its recent gains. At the time of writing, PNUT is trading at $1.10, a 5.1% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Mark Longo, known for his viral pet Peanut the Squirrel, has issued a “cease and desist” letter to Binance for the unauthorized use of his intellectual property. On Dec. 16, Longo took to his X account, Squirrel_Dad, to reveal his legal actions while alleging that Binance used images and stories tied to his animals without […]
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This week’s Crypto Biz also explores Microsoft’s board’s stance on Bitcoin, JPMorgan’s revision of mining stocks, MARA’s new BTC purchase and upcoming listings of crypto firms.
Binance has cemented its position as the leading crypto exchange by reporting customer deposits totaling $21.6 billion in 2024, according to a Dec. 12 report. This achievement places Binance significantly ahead of its competition, with data from DeFi Llama revealing that the exchange’s deposits surpass the combined total of the next ten largest exchanges tracked […]
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Binance and Circle established a strategic cooperation on Wednesday to increase adoption and utilization of the USDC stablecoin during an Abu Dhabi press conference. According to Fortune, the cooperation between Binance, the world’s largest cryptocurrency exchange, and Circle, which co-founded USDC with Coinbase, intends to acquire a larger portion of this booming market, especially as […]
Binance has formed a strategic partnership with Circle to integrate USD Coin (USDC) across its services, aiming to enhance accessibility and promote adoption. This collaboration also positions USDC as a key corporate treasury asset for Binance, according to an announcement on Dec. 11. Circle CEO Jeremy Allaire highlighted the partnership’s significance, pointing out that two […]
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On-chain data shows a Dogecoin whale has made a large deposit to the Binance exchange, which could be bearish for DOGE’s price. Dogecoin Whale Has Moved Big To Binance Today According to data from the cryptocurrency transaction tracker service Whale Alert, a massive move has been spotted on the Dogecoin blockchain during the past day. […]
The US will soon have a largely crypto-friendly White House, but Binance’s Richard Teng says it may be too soon to start talks about re-entering the market.
The former Binance CEO said that the Chinese government's lack of transparency overall made it difficult to predict any crypto policies.
US spot Bitcoin ETFs now collectively hold more Bitcoin than is estimated to be held by the anonymous Bitcoin creator, Satoshi Nakamoto.
The transformative influence of Bitcoin on the global economy.
In the latest round of the SEC suit against Binance, Binance.US and CZ, the agency has largely repeated itself in a form more acceptable to the court.
The US commodities regulator recovered $12.7 billion in the FTX case, which was the “largest recovery for victims and sanctions in CFTC history.”
Older cryptocurrencies with regulatory overhang were among the biggest gainers over the past month as Donald Trump's election victory promises a friendlier U.S. regulatory environment toward digital assets.
US crypto exchanges like Binance.US and Coinbase are making big moves into memecoins.
India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said.
BNB follows a similar cup-and-handle breakout pattern as Tron, positioning itself for potential 200%-plus gains in the weeks ahead.
The cryptocurrency exchange market appears to have undergone a transformative shift in 2024, driven largely by a significant uptick in institutional activity. According to insights shared by CryptoQuant on its QuickTake platform, major exchanges are witnessing unprecedented growth in Bitcoin and USDT deposits. This trend highlights the increasing confidence of institutional investors in digital assets, […]
A Southeast Asian country continues its rigorous policy against cryptocurrency platforms as it hampered access to digital asset exchanges. Regulatory officials in Cambodia imposed an iron hand against cryptocurrency players by blocking access to 16 crypto exchanges which include some of the popular firms such as Coinbase and Binance. Related Reading: Cryptocurrency Tax Postponed! South […]
Average Bitcoin and USDT deposits across crypto exchanges escalated over the year, indicating a rise in institutional demand for digital assets.
The former Binance CEO already pleaded guilty to one felony charge and served four months in prison, but receiving a presidential pardon could present certain opportunities.
Former Binance CEO Changpeng Zhao has hinted at his willingness to receive a pardon from President-elect Donald Trump. In a Dec. 2 post on X, Zhao said that while he has no plans to return as Binance’s CEO, he would welcome such a gesture from the President. He stated: “No wish to be CEO again. […]
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Crypto is coming to Europe’s popular luxury retail stores. According to reports, Printemps, a popular chain of luxury brands, will start accepting cryptocurrencies for payments. Related Reading: Shiba Inu Christmas Countdown: What Big News Is Coming For The Holidays? The luxury store operator has partnered with Binance Pay and Lyzi to offer its customers an […]
Binance CMO Rachel Conlan says that "community feedback and input" are important factors for crypto exchanges when deciding which cryptocurrencies to list, though nothing is "guaranteed."
This week’s Crypto Biz explores Singapore Gulf Bank’s plans to acquire a stablecoin firm, Binance delisting tokens, Cantor Fitzgerald’s stake in Tether and the first DOGE ETP.
A former Binance executive has filed a whistleblower lawsuit against the cryptocurrency exchange in the UK, alleging that a colleague solicited a bribe from a customer in exchange for preferential treatment. Amrita Srivastava, a senior employee based in London, claims she was “unfairly dismissed” after raising concerns about the alleged misconduct. Srivastava’s Lawsuit Against Binance […]
Amrita Srivastava, who worked at Binance from 2022 to 2023, alleged reporting a bribe at the crypto exchange resulted in her dismissal.