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Amid executive departures and trading suspensions, Binance faces liquidity concerns as whale activity reveals a complex pattern. Binance, the world’s leading crypto exchange, remains under scrutiny while the community maintains a cautious stance concerning its general liquidity. In the past week, several high-level executives from the exchange’s APAC and Eastern Europe divisions have resigned. Moreover, Binance has temporarily suspended trading of multiple altcoins, including the BUSD stablecoin, in response to mounting regulatory pressure. You might also like: Binance Russia execs leave amid ongoing rumors of market exit As these issues converge, whales appear to be changing tact, shuffling coins around. Data from crypto analysis platform, Lookonchain, reveals that a whale transferred $4 million worth of Synthetix (SNX) on Sep. 6, a day following the 2% rise of SNX prices. A newly created address withdrew 1.7M $SNX ($4M) from #Binance 30 minutes ago.https://t.co/vOIj1...

Paysafe Payment Solutions, Binance’s European banking partner, said it would terminate support for Binance as it deals with regulatory challenges global ly. Binance is reportedly searching for a new provider for euro deposits and withdrawals via the Single Euro Payments Area (SEPA), after the UK-based payment network Paysafe said it would withdraw support from Sept. 25, 2023.  “Following a strategic review, we have taken the decision to cease offering our embedded wallet solution to Binance across the region. Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months.” Emailed statement by Paysafe to Bloomberg You might also like: Binance sets sights on UAE as key operational hub Paysafe and Binance inked a partnership deal in January 2022, enabling users to deposit and withdraw EUR on Binance via the SEPA payment network. Following the partnership, the Financial Conduct Autho...

San Francisco-based crypto exchange Coinbase has raised its reward rates for USDC, a stablecoin tied to the US dollar. Users can now earn a 4% annual yield (APY) on their USDC holdings. The latest development marks a significant boost compared to the previous rate of 2%, which was in effect until June 9. By doubling the returns on USDC, Coinbase aims to incentivize more users to hold and utilize the stablecoin on its platform. Grow your savings with a reward ing, secure digital dollar. Global Coinbase customers can now earn 4% rewards on USDC. Start earning → https://t.co/JJw8HqWcJJ USDC is a trusted stablecoin that’s designed to be pegged and redeemable 1:1 for US Dollars. It’s backed by reserve… pic.twitter.com/IAGwDoCu4s — Coinbase ️ (@coinbase) June 15, 2023 While Coinbase has mentioned that the reward rates are subject to change, the most up-to-date rates can be found within customer accounts. Notably, the company has not yet incorporated the 4% reward rate on the late...

Russia’s existing regulatory stance on the cryptocurrency industry would potentially lead the country to “direct financial losses,” the RACIB argued. As Russia continues to delay adopting crypto currency regulations, local advocates have appealed to Russian President Vladimir Putin to change the government’s approach to regulating the market. The Russian Association of Crypto Industry and Blockchain (RACIB) — a major group of crypto and blockchain enthusiasts in Russia — issued an open letter to Putin on March 6, urging the president to address the risks of ignoring the global development of the crypto industry. In the letter, the RACIB argued that Russia has been too slow to implement experimental legal regimes targeting crypto adoption despite enforcing its first crypto law, “On Digital Financial Assets,” in 2021. In November 2022, lawmakers in Russia introduced a series of legal amendments to the crypto law, proposing to launch a “national cryptocurrency exchange.” According to th...