A rapid growth in meme coins issued on the Bitcoin blockchain has caused a surge in transaction fees and disrupted withdrawals from Binance. The growth in Bitcoin transaction fees has in recent days gone parabolic, with the average fee level hitting as high as $19 on Sunday and then $30.9 on Monday this week, after…
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Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees.
Binance…
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Despite having now pulled back a massive 75% from Sunday’s highs in the $0.0024 area, SpongeBob ($SPONGE) is still up a huge 7x from its launch price on decentralized cryptocurrency exchange Uniswap last Thursday around $0.000073. That means at its peak price on Sunday, $SPONGE had been trading a huge more than 73x up versus…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Liechtenstein Government to Accept BTC as Payment, Everledger Enters Voluntary Administration, NY Attorney General Proposes Banning Exchanges From Trading Their Tokens Read more »Sign up for e-EUR –…
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A spike in transaction fees and repeated BTC withdrawal outages at Binance provide a fraught backdrop to a week of Bitcoin volatility triggers. Bitcoin (BTC) starts a new week at the center of new crypto industry drama as the highest fees in two years pressure price action. Downside volatility is greeting traders thanks to a…
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Binance has moved a large stash of Bitcoin between its crypto wallets over the weekend as the platform halted BTC withdrawals citing network congestion. According to an analysis of on-chain data by CryptoQuant’s Head of Research Julio Moreno, Binance moved about $4.4 billion worth of BTC across its digital-asset wallets on Sunday in two tranches…
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Beijing has said ‘no’ to crypto, but that doesn’t seem to affect a number of Chinese citizens who have continued trading digital coins since the ban – reportedly, on exchanges including Binance, FTX, OKX, and Huobi. According to a Bloomberg report, some portion of the country’s 1.4 billion people are seeking alternatives to traditional…
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Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine. Crypto Exchange Binance Faces Another US Probe, Sources Say The U.S. Department…
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A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since it was granted after the fraudulently acquired crypto…
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The DOJ’s national security and crime divisions are both looking at the cryptocurrency exchange’s provision of services to Russians, Bloomberg reports. Binance is under investigation by the United States Department of Justice (DOJ) national security division for allowing Russians to use the cryptocurrency exchange in violation of U.S. sanctions, according to a report that appeared…
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