Analysis Crypto by Thebittimes.Com

The digital asset created and backed by the crypto giant Binance is surging, fueled by memecoin trading and corporate treasuries. BNB just shattered its all-time high, touching $1,316 while up 8.8% in 24 hours, with trading volume surpassing $3 billion. This rally also stems from new institutional bets on the altcoin. CEA Industries says it now has a $611 million BNB treasury holding 480,000 tokens, while Kazakhstan’s Alem Crypto Fund named BNB its first national reserve asset. Says CEA Industries CEO, David Namdar, “BNB’s all-time highs are a clear validation that the global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and underlying ecosystem. We view BNB not just as a token, but as the fulcrum of a massively integrated ecosystem.” In addition, BNB’s Q3 DEX volume has soared 185% to $37.1 billion, driven by the decentralized exchange (DEX) aggregator Aster’s whopping $29 million in dai...

The BNB price surged 5% in the past 24 hours to trade at $1,087.26 as of 3:48 a.m. on trading volume that rose 43% to $3 billion. This comes as the native token of the Binance exchange hit a new all-time high (ATH) of $1,111, according to Coingecko data. That milestone comes amid growing network activity and technical factors that are fueling strong market momentum. On the regulatory front, Binance is on the verge of a deal with the US Department of Justice to drop compliance monitoring, following its $4.3 billion settlement earlier this year. The network has also recorded over 70 million active addresses with its highest-ever net inflows. 哈喽 #BNB Something bigger is happening on @BNBCHAIN and most aren’t ready for it. $196B DEX volume 70M+ active addresses Highest-ever net inflows Public companies adopting BNB as a treasury asset Ticker changing to BNC on NASDAQ Government-backed stablecoin plans via… pic.twitter.com/Lkg0rJOUgr — AB 🔶 ...

The Kingdom of Bhutan’s Bitcoin (BTC) strategy has taken a notable turn with the transfer of part of its holdings to cryptocurrency exchange Binance, suggesting possible plans to sell. Details of the transaction indicate that the country transferred 137.245 BTC, valued at approximately $14.77 million, to the exchange on June 30, according to the latest on-chain data obtained by Finbold from Arkham Intelligence. Kingdom of Bhutan Bitcoin transaction. Source: Arkham The potential for a sale comes as the Asian nation’s Bitcoin stash has grown significantly. As of press time, Bhutan holds 11,924 BTC, valued at approximately $1.28 billion. Notably, these holdings have been built mainly through state-supported mining operations controlled by Druk Holding and Investments. Currently, there is no official explanation for the Binance deposit; however, historically, moving funds to exchanges often signals plans to sell.  Impact of Bhutan’s possible Bitcoin sale ...

In this interview, Colin from WuBlockchain engages in a wide-ranging conversation with CZ (Changpeng Zhao), the founder of Binance. CZ reflects on his childhood before the age of 12 in China, his family’s economic shift after immigrating to Canada at 12, and how his mother transitioned from being a teacher to a factory worker, even impacting her health. He also shares how he dropped out of school early after receiving a job offer. CZ discusses the reasons behind Binance’s early success, attributing it to personal experience and timing. While other exchanges focused on mainstream cryptocurrencies, Binance quickly launched a wide range of ERC20 token pairs. The conversation also covers whether FTX could have been salvaged, the current challenges of listing tokens on centralized exchanges (CEXs), the future of CEX regulation, and the cryptocurrency policies in Hong Kong and the U.S. Additionally, CZ talks about writing his life’s most important article, “Principles,” discusses Vitalik’s c...

A new “culture coin” is rolling out on Binance. The top global crypto exchange airdropped Animecoin (ANIME) to qualified users this week and then listed the asset for trading. Animecoin is the sixth project launched via Binance’s HODler Airdrops program, which rewards BNB holders with tokens based on historical snapshots of their balances. Animecoin bills itself as a way for fans to own a piece of the anime industry. “ANIME is a true Culture Coin – a movement that transforms the anime fandom of 1 billion fans into a community-owned network of creativity. Where passion becomes power, cultural energy becomes real value, and the boundaries between consumer and creator dissolve. Backed by Azuki, we’re building a creative economy for the global anime community of one billion fans. A space where fans truly own what they create, where creativity and innovation flow freely.” ANIME is trading at $0.0817 at time of writing. The 202nd-r...

Hacks in the cryptocurrency industry are nothing new. In September alone, the market witnessed hacks worth $120 million. Over half of the $120 million in cryptocurrency attacks that occurred in the month were on centralized exchanges BingX and Indodax. Amidst this, malicious activity was suspected in the US government’s wallet. Also Read: SEC Can’t Stop It: Ripple CEO Predicts Inevitable XRP ETF Approval US Government Loses Big Bucks Through Cryptocurrency Hack Data from Arkham Intelligence revealed that a cryptocurrency wallet that was probably under the authority of the US government was hacked on October 24. $20 million was taken out of the wallet. This further included money taken from the Bitfinex hack in 2016. The hacker sent the money to a wallet that started with “0x348.” The report revealed that $5.5 million in USDC and $1.25 million in the stablecoin Tether were taken from Aave. These assets were then transferred to the wallet along with $13.7 million in USDC...

1. Renowned Economist Nominates Ethereum Founder Vitalik Buterin for Nobel Prize in Economics link Renowned economist Tyler Cowen, in a podcast with Alex Tabarrok, has nominated Ethereum founder Vitalik Buterin as a candidate for the Nobel Prize in Economics, praising his contributions to cryptocurrency and monetary economics as “far surpassing those of other economists.” Cowen remarked, “Vitalik built a platform, created a currency, and some might even say, disproved Mises’ regression theorem. His achievements merit a Nobel Prize.” Both economists also lauded Buterin for leading Ethereum’s successful transition from Proof of Work (PoW) to Proof of Stake (PoS), with Tabarrok describing the feat as akin to “changing tires on a moving car,” calling it an “incredible achievement.” Cowen additionally highlighted Buterin’s humility and philanthropic efforts, reinforcing his belief that Vitalik would be an outstanding choice for the Nobel Prize. 2. HBO Suggests Peter Todd is Satoshi Nakamoto...

Though BNB (BNB) has been trading with significant strength throughout 2024, the Binance cryptocurrency exchange’s issues with the U.S. legal system have been a major cause of volatility since late 2023. The situation may, however, soon change drastically for BNB as Changpeng Zhao, the founder and former CEO of the Binance exchange, is scheduled to be released from prison on September 29, 2024. Given the historical impact news related to Zhao’s guilty plea and prison sentence have had on the token and the prominence and popularity of ‘CZ’ within the community, the release is likely to serve as a major bullish catalyst in the crypto market. Picks for you SingularityDAO expands DeFi offerings with Cogito’s tokenized RWAs 16 seconds ago Bybit...

Crypto exchange Binance plans to hire 1,000 employees this year, focusing on compliance and customer service roles as its annual spending to meet regulatory requirements exceeds $200 million. CEO Richard Teng shared the hiring plans in an Aug. 21 interview with Bloomberg News during a visit to the US, where he met with regulatory officials as part of a $4.3 billion plea agreement with the US Justice Department and other agencies. Binance To Grow Its Compliance Team As Global Regulatory Requests Skyrocket Binance plans to grow its compliance workforce to 700 employees by the end of the year, up from 500 now, Teng said.  He said the exchange fields an increasing number of requests from law enforcement agencies across the globe. This year alone, Binance has received around 63,000 requests so far, which is more than the 58,000 requests it received in all of 2023. Binance’s annual compliance costs have also risen from $158 million two years ago and are expected to rise furt...