NFT News Official TheBitTimes.com

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...

The US Department of Justice (DOJ) is scrutinizing the advertising strategy of the now-bankrupt crypto exchange, FTX. This scrutiny comes in light of advertisements featuring celebrities Larry David and Tom Brady. According to the DOJ, it did not clearly demarcate between the global platform and its US subsidiary, FTX.US. FTX’s founder, Sam Bankman-Fried, finds himself at the center of a legal maelstrom, vehemently disputing the evidence the government plans to present in the upcoming trial scheduled for Oct. 2. The array of charges against him includes wire fraud, with Bankman-Fried denying any wrongdoing and accusing the DOJ of indirectly introducing allegations of corruption and campaign finance violations. Bankman-Fried’s legal representatives argue for a clear separation of the US operations from the current allegations, which they claim are primarily focused on the international business segment. However, the government contends that the distinction is not as ...

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...