Binance, a major stakeholder in the Korean crypto trading platform Gopax, plans to decrease its ownership in the exchange over the next one to two months.

This decision is prompted by the need to address challenges related to reporting changes for virtual asset business operators (VASPs).

On Tuesday, South Korean news outlet News 1 reported that Binance is set to reveal a decrease in its ownership stake in GOPAX within a month or two, quoting the director of Binances Asia-Pacific division, Steve Young Kim.

Binance spokesperson stated, We are in early-stage discussions about our stake in GOPAX, As its still preliminary, we cant share more details at this time.

While Binance aims to sell a portion of its stake to address regulatory concerns, it might still maintain around 80% ownership, as suggested by local industry experts. As of now, Binance has not issued an official statement regarding this development.

Also Read: Binance Labs Fuels Puffers Vision for Decentralized Staking

See the original post:

Binance Plans Stake Reduction in South Korean Exchange GOPAX - Crypto Times

Pendle, known for tokenizing and trading future yield, has reached a new milestone as its native asset surges to an annual high of $2.791.

The protocols developers facilitated this surge by depositing millions of PENDLE tokens to the Binance exchange.

Two wallets, likely owned by investors in Pendle, deposited 477,211 PENDLE ($1.27M) at an average price of $2.66 to Binance as Pendle reached its new high today.

Remarkably, these investors vested 1.06M PENDLE in 2022 and 2023 at a price of just $0.146.

Holding the token for two years enabled them to amass $2.42M (a 17x increase) and maintain holdings of 487.5K PENDLE ($1.31M).

During the recent 24-hour surge, a total of 6 wallets, predominantly owned by investors, deposited 4.043M PENDLE ($10.97M) to Binance at an average price of ~$2.71.

Notable contributions include 1.98M PENDLE ($5.4M) from Spartan Group (@TheSpartanGroup) and 600K PENDLE ($1.63M) from multisig wallet 0x811 (likely owned by the Pendle team).

As of now, there are still 23.92M PENDLE ($64.3M) left in 4 wallets, signaling continued investor interest and confidence in the tokens potential.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter@nulltxnewsto stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, andMetaverse news!

Read the original post:

Pendle Token Hits All-Time High As Developers Deposit Millions To Binance - NullTX

The American arm of Binance, the worlds largest crypto exchange by trading volume, faces intensifying scrutiny and operational roadblocks as regulatory issues escalate. Following the departure of its former CEO and ongoing investigations by the US Department of Justice, Binance.US has been suspended from operating in two states, Alaska and Florida.

Court documents reveal that the Florida Office of Financial Regulation, responsible for enforcing state financial laws, has taken action against Binance.US, citing immediate danger to the public as justification for an emergency suspension. This move aims to safeguard public interests while adhering to procedural fairness.

Binance.US, licensed as a money transmitter since 2020, faces license expiration in April 2024. Notably, the companys controlling shareholder and indirect owner is Changpeng Zhao, the former CEO of Binance Holdings Limited. He is facing criminal charges related to alleged anti-money laundering (AML) program deficiencies at Binance.

Similar regulatory hurdles emerged in Alaska, where the banking division denied Binance.USs operating license renewal. The reasons for the denial remain undisclosed.

These recent actions by regulatory bodies in Alaska and Florida reflect a broader trend of stricter enforcement within the US cryptocurrency market. The leadership changes at Binance and the criminal charges against its former CEO further complicate the companys regulatory landscape.

These developments are critical for Binance.US, with leadership changes and criminal charges against its former CEO already casting a shadow over its regulatory standing. The company must now navigate these challenges, working closely with authorities to address concerns and potentially reshape its operations to comply with stricter regulations.

As Binance.US navigates these challenges, its future and the broader cryptocurrency industrys fate in the US hang in the balance, hinging on the companys ability to address regulatory concerns and find favor with authorities.

If youre interested in learning more about the legal battle between Binance and the SEC and the potential implications for crypto regulation in the US, read this article: Heres Why Tense Binance SEC Court Drama May End in a Split

Curious about what token burning is and why Binance is doing it? This article explains it all: Binance Teases Significant Multi-Chain Token Burn

Read the original here:

Binance.US Suspended in 2 States as Regulatory Heat Rises - DailyCoin

Cover image via http://www.freepik.com

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

After years of back and forth, cryptocurrencies are slowly but surely getting spot ETFs. Bitcoin ETFs broke the ice, and now, BlackRock and other institutional investors are making a push to launch Ethereum ETFs. BlackRock has been in talks with the SEC for a long time, and despite making progress, the U.S. Securities and Exchange Commission (SEC) extended its decision period.

Most investors hoped to see Ethereum ETFs by the end of January, but the decision has been postponed to May 2024. So, let's see what's happening in more detail. Another high-potential investment option, eTukTuk, can help you get massive returns while waiting for Ethereum ETFs.

>>> Buy The Best Coin Now<<<

After approving Bitcoin ETFs, the SEC is delaying its decision to do the same for Ethereum ETFs for a few reasons. BlackRock made the official proposal on January 25, 2024, but the decision was initially extended to March 10. The SEC stated that Nasdaq made the first proposal on November 21, 2023, published in the Federal Register on December 10.

BlackRock again made the same proposal, and the delays are expected to continue for at least a few months. The next big decision day is now set for May 23rd, 2024, as that's the final decision date.

May 23rd is the day when the SEC must make the final decision on VanEck's spot Ethereum ETF, which will be the final decision on the matter. The regulators will likely make the same decision on similar applications but with different deadlines, and that includes BlackRock's application as well.

Even though the SEC must decide by May, it still needs to be determined if it will approve or deny Ethereum ETFs. However, some of the leading market analysts feel optimistic, as Bitcoin ETFs are already a reality, and there's enough time until May to see how they impact the markets. For example, Bloomberg's ETF analyst Eric Balchunas predicts that Ethereum ETFs are 70% likely to get approved.

The final decision will have a massive impact on crypto prices. If approved, Bitcoin, Ethereum, and other cryptos will likely get a significant boost in value. However, if denied, the crypto markets could enter a downtrend, which could result in a massive selloff and a bearish market for months. Therefore, the stakes are high, and the result will define crypto markets for years to come.

>>> Buy The Best Coin Now<<<

While waiting for the SEC to make up its mind about Ethereum ETFs, another emerging crypto platform aims to revolutionize a massive multi-billion dollar industry while making the world a better place. It's called eTukTuk, and it offers a sustainable transport solution that will help improve transportation in developing countries across the globe by introducing blockchain technologies into a market used by millions of people every day.

>>> Buy eTukTuk Now<<<

Air pollution is a severe health threat, particularly in large cities across South-East Asia. There are over 270 million TukTuks and other three-wheelers on the roads, emitting large quantities of CO2 daily. With rising energy prices and new policies, ICE vehicles are becoming obsolete, threatening the livelihood of millions of TukTuk drivers and their families.

eTukTuk's primary goal is to help build an affordable and sustainable network of charging stations to allow TukTuk drivers to continue their work using electric vehicles. The effect will reduce CO2 emissions while empowering the lives of billions of people worldwide. Air pollution is a serious health concern across developing countries and has a significant negative effect on life expectancy and all kinds of serious health complications.

>>> Buy eTukTuk Now<<<

eTukTuk aims to use blockchain technologies to provide a sustainable transport system by building a network of affordable charging stations and introducing electric vehicles. The system has an AI solution at its core used to streamline everything from navigation and route optimization to reducing fuel consumption and promoting a sustainable, eco-friendly transport solution.

The ecosystem is powered by the $TUK token used to pay for charging. Users can obtain the tokens in multiple ways. The first option is to play a P2E game that puts you in the role of a TukTuk driver driving customers around the streets of Sri Lanka. It's similar to Crazy Taxi, but you drive whacky TukTuks instead of cars.

The second option is buying and investing your $TUK tokens to earn APY rewards. Another option, Power Stake, will allow users to reduce charging fees once the system is up and running. Simply put, eTukTuk is an environmentally sustainable transportation system that will help make the world healthier and more eco-friendly.

>>> Buy eTukTuk Now<<<

eTukTuk is in its earliest presale stages, so you have the perfect opportunity to invest in $TUK tokens at the lowest price possible. The presale event has raised over $660,000 so far, and if you invest today, you can stake your $TUK tokens for an impressive 323% APY. The event enters a new stage every seven days, and the price of $TUK tokens gradually increases. Join the rEVolution today and help build a better world for billions of people worldwide.

>>> Buy eTukTuk Now<<<

Despite everyone thinking that Ethereum ETFs will go live after the SEC approved Bitcoin ETFs, the final decision has been pushed back to May 2024. We will have to wait another few months before we can invest in ETH ETF. Still, a new Binance token, $TUK, is available for purchase, and it has a noble goal that will help reduce air pollution by replacing ICE TukTuks with electric vehicles. Join the rEVolution today, stake your $TUK tokens, and earn huge returns before the platform goes live later this year.

>>> Buy eTukTuk Now<<<

Link:

Binance Chain Tokens Trends With SEC Rejection of BlackRock's Ethereum ETF - U.Today

The price fluctuations in the broader crypto market (Binance) have continued today, January 31, as the bears retain dominance. Subsequently, several assets remained in the red, with XRP following the current trend to drop some of its gains.

Amid the low price pattern, the leading crypto exchange, Binance, shuffled over 120 million XRP tokens.The company completed its movement in two different transactions within a fifteen-minute timeframe.

Data from the on-chain whale tracking site Whale Alert revealed that Binance moved more than 120 million XRP within its accounts.The two separate transactions are worth over $61.8 million and took place at XRPs price below $0.5100.

According to Whale Alert, the first transaction involved the transfer of 100 million XRP coins.

The tokens are worth over $51.28 million based on the crypto market prices.

The transaction occurred on January 31 at 07:25 UTC, and both the sending and receiving.According to reports, the sending wallet is a new account Binance activated last month.

The records of the address indicated that Binance had moved about 300 million into the new account as of December 26, 2023.

Also, the exchange has been using the wallet to transfer millions of XRP coins to different Binance wallets. For instance, Binance moved 139 million XRP from the new account within an hour of the 300 million XRP receipt. Currently, the address now has about 64 million XRP in its holding.

Notably, the receiving address of the 100 million XRP is a known Binance wallet. Usually, the exchange uses the address to complete several small XRP transfers to other entities like banks, Upbit, Coinbase, and Bithumb. Such transactions are part of the exchanges withdrawal redemptions.

The second transaction, as noted by Whale Alert, came in less than 15 minutes after the first. It involved the transfer of 20.62 million XRP worth over $10.57 million.

Data from Bithomp also revealed that the receipt account is Binance-related.

The entire motive for the XRP has attracted the attention of crypto enthusiasts. However, given that all the wallets involved in the transactions are associated with Binance, the movements could reflect in-house transfers.

They could be part of the exchanges account balancing exercises or redemption of withdrawal requests.

So, theres no reason to panic for now, given that Binance maintains periodic transfers of large volumes of XRP that dont affect the tokens price. For instance, on January 16, the exchange moved more than 94 million XRP coins to an anonymous wallet.

Also, over 300 million XRP have changed hands between Binance accounts and other whale wallets since last December. None of these movements of coins have pulled XRP below the $0.5 level.

Notably, as of 07:40 AM EST on January 31, XRP hovers around $0.5063, indicating a 4.63% decline over the past 24 hours.

See the original post:

Binance Moves More Than 120 Million XRP Amid The Token's Price Drop - The Tech Report

Valeria Blokhina

U.Today's daily news digest keeps you informed of the most important updates in the crypto industry

Take a look at the most important crypto events with U.Today's top three news stories.

As has been recently shared by Binance CEO Richard Teng on the X platform, Ethereum cofounder Vitalik Buterinmade a surprising visit to the Binance office. Teng thanked Buterin for finding time to speak to his team in person, saying that it was a privilege to have him in the company's office. This spontaneous visit caused quite a stir in the crypto community, with many users speculating about a potential collaboration between these two giants of the crypto market. As a reminder, Binance is currently struggling with a $4 billion fine and ongoing regulatory challenges; considering this, Buterin's focus (described in his essay entitled "Make Ethereum Cypherpunk Again") on security, privacy and scalability, and concern for centralized exchanges and their vulnerability to hacking, feed rumors about possible cooperation between Buterin and Binance. However, neither Buterin nor Teng made any statements in this regard.

In a recent X post, Shiba Inu team member Lucie sharedShibarium's plans for the future. Lucie wrote that the layer-2 solution aims to "onboard 1,000 projects with numerous partnerships," reminding the community that supporting new projects does not necessarily mean canceling existing ones. The SHIB representative then called on all meme token supporters to stay strong as a community during challenging times, stating that there is hardly any point in giving up now if they got "this far" in their support for the project's team. Lucie's post has evoked mixed reactions among SHIB army members; even though many of them praised the SHIB developers, some users questioned the project team's ability to accomplish anything more than just making plans and promising new advances.

According to Kenneth Worthington, analyst at JPMorgan, the initial enthusiasm surrounding Bitcoin ETFsmay be waning, with a shift toward a "more normalized flow environment" being potentially on the horizon. On Jan. 26, spot Bitcoin ETFs experienced net sales of about $15 million following a four-day streak of redemptions. This reversal could be an indication of changing investor sentiment on these novel financial products. Since their launch, the Bitcoin price has plunged by about 9% but has since stabilized around $42,000 as the new trading week gets underway. Previously, JPMorgan correctly predicted that the approval of Bitcoin ETFs would be a sell-the-news event. Before the approval, the price of the leading cryptocurrency dropped from above $47,000 to below $39,000. The sell-off coincided with large outflows from Grayscales Bitcoin Trust (GBTC), which transitioned into a spot Bitcoin ETF after the SEC's approval.

About the author

Valeria Blokhina

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.

Follow this link:

Ethereum's Vitalik Buterin Makes Surprising Visit to Binance, SHIB Rep Shares Shibarium's Plans to Onboard Thousands of Projects: Crypto News Digest...

Binance Pours Cold Water on NFT Game That Pulled In $115 Million for Its Mint  Decrypt

See the article here:

Binance Pours Cold Water on NFT Game That Pulled In $115 Million for Its Mint - Decrypt

The legal problems surrounding binance binance binance@miceneurol.com Centralised Exchange never seem to come to an end. The crypto exchange with an impending $4.3 Billion file to be paid to the CFTC, the Department of Justice, and other U.S. government agencies, is now under fire from regulators in Florida and Alaska.

After the ex-CEO, changpeng zhao changpeng zhao founder and ceo at Binance Changpeng Zhao is the Founder and Chief Executive Officer at Binance.His contribution to the enhancement of Binance made the platform worlds largest cryptocurrency exchange since its inception in 2017. Zhao launched the blockchain network Binance Smart Chain which has made a remarkable contribution to the development of the decentralized finance ecosystem. Whereas in 2019, he launched Binances US affiliate, Binance.US. He is commonly known as CZ, a Chinese-Canadian Business Executive who has been ranked 113th richest in the globe as of 2022. In the past, he founded Fusion Systems, a trading system for brokers famous for some of the fastest high-frequency trading systems for brokers. Zhao has served as a member of the team that developed Blockchain.info and played the role of Chief Technology Officer of OKCoin, a secure cryptocurrency exchange platform for Bitcoin, Ethereum, Dogecoin, and other crypto assets. EntrepreneurInvestorChief Executive Officer pleaded guilty to three counts in November, the State regulators have barred Binance.US from serving residents in Florida and Alaska.

In November 2023, a U.S. federal court accepted CZs guilty plea to Bank Secrecy Act violations. In December 2023, Binance.US underwent a rigorous settlement deal that not only imposed a hefty fine but also compelled the firm to operational changes.

CZs guilty plea triggered regulatory actions with Floridas Office of Financial Regulation, issuing an emergency suspension order against Binance.US.

This license restricted the platform from operating in the state. Regulators argue that CZs guilty plea, making him an 80% shareholder in Binance.US, raises questions about the competency of the firm to oversee operations catering to American crypto traders.

Also Read: Relief in Sight: JPMorgan Analysts Report Easing GBTC Sell-Off

According to a January 25 report, regulatory authorities in Florida and Alaska have informed Binance.US that the cryptocurrency exchange is no longer permitted to cater to their residents.

In January 2024, the Alaska Division of Banking and Securities declined to renew Binance.USs license. Additionally, Floridas Office of Financial Regulation took action by issuing an emergency suspension order against Binance.USs money transmitter license following CZs guilty plea.

While the U.S. governments actions have targeted the global exchanges U.S. operations, Binance.US has tried its best to reassure customers that it remains fully operational despite the legal troubles surrounding its founder.

Late last year, regulators in Arkansas, Illinois, and South Dakota reportedly reached agreements with Binance.US to allow its continued operation in those states, contingent on irreversible changes to CZs voting rights.

Despite CZs attempts to use his $4.5 billion stake in Binance.US as security for travel permissions, a recent court ruling denied his request. As CZ faces sentencing on February 23, 2024, with a potential 18-month prison term, the regulatory challenges surrounding Binance.US add another layer of complexity to the ongoing legal saga.

Binance.US finds itself in the regulatory crosshairs in Florida and Alaska, following the consequences of CZs guilty plea. Presently still tied in a lawsuit against the U.S. SEC, the fate of Binance.US remains uncertain, considering its tainted history of security and misappropriation of customer funds.

Read the original post:

Binance.US Still Suspended in Florida and Alaska Following CZs Guilty Plea - Coinpedia Fintech News

Our website is a comprehensive guide to digital currency investing & trading.Here are a few suggestions to get started, and get the most from us:

Begin with Bitcoin for Beginners.

Get the edge with our exclusive Bitcoin and cryptoguides.

Check out our Crypto YouTube channel, that includes beginners and advanced tutorial videos and market updates. Dont forget to subscribe!

See original here:

These American States Have Asked Binance.US to Cease Services: WSJ - CryptoPotato

Binance Coin (BNB) price has been consolidating within a descending parallel channel after recording a local top around the $338.3. However, the BNB price found support, and now a recovery rally is in motion.

Also Read: Binance Coin price approaches critical mass, 18% move ahead forBNB

Binance Coin (BNB) price is trading with a bullish bias, up nearly 7% after finding critical support due to the confluence between the 50-day Simple Moving Average (SMA) and the horizontal line at $291.60.

The Relative Strength Index (RSI) shows rising momentum, with a pending buy signal that will be activated once the RSI crosses above its signal line (yellow band).

Increased buying pressure could see the Binance Coin price extend the gains past the $220.00 level before reclaiming the $338.30 range high, last tested on December 28. Such a move would denote a 10% climb from current levels. In a highly bullish case, the gains could extrapolate for BNB price to reach the $360.00 psychological level

BNB/USDT 1-day chart

On the other hand, if profit taking kicks in after the 7% climb, the BNB price could lose all the ground covered, potentially retesting the confluence support. A break and close below $291.60 would invalidate the bullish thesis.

In the dire case, the downside could continue, with Binance Coin price testing the midline of the channel at $280.00. The worst possible case could see the altcoin extend the fall to the $260.30 level, 15% below current levels.

Loading ...

Read the original post:

Binance Coin Price Prediction: BNB nurtures a V-shaped recovery with 10% gains in sight - FXStreet