Binance Halts BTC Withdrawals Twice in 12 Hours
Binance crypto exchange suspended Bitcoin withdrawals for a second time on May 8, citing a significant volume of pending withdrawal requests. Binance tweeted on May 8 that it had “temporarily” suspended BTC withdrawals due to a “large volume of pending transactions.” It added that the transactions were still pending because “set fees did not anticipate […]
Binance to convert recovery funds from BUSD to ‘native crypto’
Binance CEO, CZ, announced that due to recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from Binance USD (BUSD) to “native cryptos” such as BTC. The bankruptcy of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, three significant crypto-backing institutions, caused the stablecoin USDC to drop from its $1 […]
How to Cash Out Bitcoin
Whether you’re looking to sell a small or a large amount, there are several ways to cash out your Bitcoin. Choosing the right method can affect profitability. It’s also important to consider the tax implications of selling your crypto. This can be especially important if you’re in the United States. Because crypto is considered property, […]
Binance CEO says 127K BTC move is PoR audit procedure
The CEO of cryptocurrency exchange Binance has stated that significant sums of cryptocurrency are being moved as part of its proof-of-reserve (PoR) audits. On November 28, according to a tip from Whale Alert , Binance transmitted 127,351 Bitcoin, or more than $2 billion, to an unidentified wallet. On-chain data shows that the transaction took place […]
Crypto wallet linked to Mt. Gox hack moves 10,000 BTC
On November 23, a crypto wallet belonging to the defunct crypto exchange BTC-e sent 10,000 Bitcoin, which is now valued at over $165 million, to multiple exchanges, personal wallets, and other sources. According to a Chainalysis report published on November 23, while this is the largest withdrawal made by BTC-e since April 2018, BTC-e and […]