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According to crypto security-focused firm PeckShieldAlert, the US Government has moved 9.8K Bitcoin (BTC) worth $324 million into multiple wallets. According to the firm, the coins were moved from wallets connected to government law enforcement seizures.

Out of the total amount moved, 7.76k BTC was distributed among 98 addresses, with each receiving 79.2 BTC. However, PeckShield noted that two addresses have transferred their holdings, worth $4.86 million in total, to Binance.

#PeckShieldAlert ~9.8k $BTC (~$32.4M) from wallets associated with US Government law enforcement seizures were moved ~7.76k BTC has been distributed among 98 addresses, with each address receiving 79.2 $BTC, 2 of them have transferred ~158.4 BTC (~$4.86M) to #Binance ~279.9 BTC pic.twitter.com/1D7WkRrlgJ

Although it is unclear if the Bitcoins (BTC) are from one seizure or many, it should be noted that PeckShieldAlert has used Silk Road as a hashtag. Silk Road was a darknet marketplace for illicit goods and activities, which is now defunct. In November 2022, the US Department of Justice seized $3.36 billion worth of BTC connected to the Silk Road. Therefore, it is possible that the current movement of coins is related to the ones which were seized last year.

Also Read: How much Bitcoin does the U.S. Government Hold?

At the moment, the reason behind the movement is unknown. It is possible that the government is organizing its seized digital assets into various wallets based on different cases.

However, it is important to note that two of the addresses have moved their holdings to Binance. This opens up the possibility that they may be sold and re-enter the market. If the assets are sold, it could lead to a volatile price swing for BTC. Moreover, this could also mean that the remaining BTC, which is now in hard wallets, could also re-enter the market.

Although the picture is not clear as to why government-seized Bitcoins are moving into different wallets, many have pointed out that the flow of BTC into Binance is surprising, given that another government agency, the SEC, is suing the exchange.

The move is ironic given that the Justice Department and the US SEC are under the same Constitution. While one is suing Binance for the alleged sale of unregistered securities, another is using it for potentially selling or storing assets.

The US government is a mess. Suing an exchange while using it

Nonetheless, the US government has not yet made any announcements about its Bitcoin (BTC) transfer. If they are indeed trying to sell the BTC, it would not be the first time they have carried out similar activity. In March 2023, the government sold $215 million worth of Bitcoin (BTC) connected to the Silk Road seizure. Moreover, they expressed plans to sell a total of $1.18 billion worth of BTC over time.

Also Read: US Government to Sell 41,500 Bitcoin ($1.18 Billion) Connected to Silk Road

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Will the US Govt Cause Bitcoin Price Volatility Post 'Binance Move'? - Watcher Guru

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Threads, the newly minted social media app integrated with Instagram, has caught the attention of numerous brands competing for a fast-growing user base. Among these brands, Binance, the industrys top cryptocurrency exchange, has quickly risen to popularity, marking a milestone of rapid follower growth of 327,000, at the time of writing, and high engagement within the first days of being on the platform.

Binances strategy diverges from the mainstream. Rather than relying heavily on promotional content, the company has opted for a more genuine and entertaining approach. This strategy not only appeals to the core crypto-enthusiast audience but could also pique the interest of a more varied crowd, expanding the reach beyond the conventional support of the industry.

Alex Aves, head of social at Binance.com, told Crypto Briefing:

Our approach to marketing on Threads will be dictated by two main things how the platform evolves over time, and the messages we want to deliver. The first step of our strategy will always be to meet users where they are and talk in their language.

The future of Threads may still be uncertain, but the platforms swift user growth and the growing demand for alternatives to platforms like Twitter hint at its potential. Binance appears to recognize this potential, seeing Threads as an additional avenue to engage with a broader audience, with Aves stating hat

The strategy seems to be paying off, with Binance soon to witness a follower count of 300,000, leaving its competitors like Crypto.com with 80,900 followers and KuCoin with 12,700 followers far behind.

Binances Aves views it asbuilding the ecosystem, not building our business.

Its no secret that Binance has been in the news lately due to its regulatory issues in Europeand Australia, as well as its lawsuit against the SEC and all-around crypto FUD, or fear, uncertainty and doubt.

These instances alone can cast doubt on the industry, keeping newcomers away from the industry and weakening the overall ethos of decentralization as a whole. This is where crypto and Threads meet A new space with fresh users, interesting ideas and a way to separate what could be damaging to the reason why crypto was created in the first place:

We look at Threads like our other social platforms places where we can increase awareness and education about the industry, which is especially important during bear markets and periods of industry FUD.

Despite Binances Threads account gaining a lot of popularity, it still continues to serve its 10 million followers on Twitter. The company is poised to maintain a strong presence on Threads, Twitter and its other socials, constantly aiming to reach and engage with a diverse group of users.

As Threads carves out its place in the social media landscape, Binances success story serves as a beacon for other brands navigating new social media platforms:

We arent prioritizing promotions. Were aiming to be authentic, have fun and product good content that will engage our growing audience.

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How to Stitch Together +300k Followers on Threads: Have Binance ... - Crypto Briefing

Dubais crypto regulator is cracking down on BitOasis, a major crypto exchange for Middle Eastern customers, for failing to meet required conditions. As the UAE sets a precedent for increased scrutiny, hopes of gaining a license look dim for troubled crypto exchange Binance.

Founded in Dubai in 2016, BitOasis was the first to receive Dubais minimum viable product operational license in May. It allowed the firm to offer broker-dealer crypto services to qualified retail and institutional investors from its Dubai HQ under VARAs regulatory regime, according to a BitOasis statement.

However, Dubais Virtual Assets Regulatory Authority (VARA) issued a market alert on Monday stating that BitOasis was under review. It didnt specify how the firm hadnt met mandated conditions, but BitOasis now has to satisfy the regulators demands within 30-60 day timeframes before it can conduct market activity in Dubai.

If BitOasis fails to comply, the firm could risk losing its license, VARA warned. A BitOasis spokesperson said its working closely with the regulator to ensure this doesnt happen.

Read more: Scoop: Major crypto arbitrage fund says Binance US discounts arent worth risk

VARAs crackdown comes amid the UAEs increased efforts to attract crypto business to the region. It decided to regulate the crypto industry at the end of 2022.

Crypto firms like Binance are eyeing the country as the next hub for their operations. Binance chief Changpeng Zhao reportedly lives in Dubai the firm submitted an application to register in the region. However, VARA requested more information into Binances ownership structure, governance, and auditing procedures at the start of April.

With BitOasis under scrutiny, Binances hopes of receiving a license in Dubai becomes less likely after all, the firm is in hot water with regulators across the US, EU, and Australia.

Got a tip? Send us anemailorProtonMail.For more informed news, follow us onTwitter,Instagram,Bluesky, andGoogle News,or subscribe to ourYouTubechannel.

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Dubai's crackdown on BitOasis spells bad news for Binance - Protos

Binances spot trading is now integrated with professional charting and trading platform, TradingView, enabling users to perform technical and fundamental analysis, as well as trade through charts without leaving the site.

TradingView and Binance, the largest cryptocurrency exchange in the world, have announced the expansion of their partnership to include spot trading. This comes after the successful introduction of Binance Futures on the TradingView platform in 2022.

Binance announced the integration in a blog post on Thursday, highlighting that it allows users to manage their trades efficiently and learn new strategies with an active community. The influential exchange, known for its impressive market presence, boasts a daily spot trading volume of around $20 billion and offers over 1,400 spot pairs for trading. They can access additional features by simply connecting to the platform using theirBinance accounts.

In 2022, we were excited to introduce Binance Futures to TradingView users and provide access to the largest derivatives cryptocurrency exchange in the world. Today, our partnership has evolved further, and we are officially expanding our integration with Spot trading. All you need to do is go to Binance profile, click Trade, connect your Binance account to the TradingView platform and leap to trading, the statement reads.

TradingView users, who are also Binance customers, are able to trade USD-Margined futures perpetual and delivery contracts directly within TradingViews browser and desktop apps.

With this integration, users with a Binance account will be able to log in and trade a whopping 350 tokens directly through TradingView charts. This impressive range includes renowned cryptocurrencies like Bitcoin and Ethereum, as well as intriguing alternative tokens such as ApeCoin and Chiliz.

According to theweb-based charting provider, registered users can simply scroll down to see the list of available broker partners. Then, they can search to find Binance icon, type in their exchange credentials, and start experiencing new opportunities, the company explains.

The alliance could boost interest inBinances offering after it was forced to wind down its futures and derivatives product in many countries amid a growing crackdown by regulators. The influential exchange has come under increasing regulatory scrutiny in the US, Europe and Asia amid concerns about compliance and protection for investors.

Excerpt from:

TradingView and Binance extends integration to spot trading - FinanceFeeds

Binance [BNB] has cemented its place as one of the top centralized exchanges in the crypto sector. Its native stablecoin BUSD, however, did not see the same dominance and has struggled to keep up with the likes of Tether [USDT] and Circle [USDC].

Is your portfolio green? Check out the BNB Profit Calculator

Binances recent burn of BUSD could improve its position in the stablecoin race. Arkham Intelligences data indicated that Binance burned 700M BUSD to the Null Address on 18 May. They also burned $250M USDC by the Mint and Burn address.

For context, a Mint and Burn address is used in cryptocurrency systems for creating new tokens (minting) and permanently removing tokens from circulation (burning). It serves as a mechanism to regulate token supply and maintain stability.

Burning tokens can be seen as a measure taken by Binance to enhance stability and instill confidence in the remaining token holders. By reducing the overall supply, Binance aims to mitigate inflationary pressures and maintain the value and integrity of BUSD and USDC tokens.

However, the burning of these tokens did not result in much positivity for the stablecoins. According to Santiments data, the market cap for BUSD and USDC continued to decline, whereas USDT dominated in this sector.

Even though the BUSD stablecoin still had a long way to go to get to the top of the stablecoin market, the Binance protocol was doing relatively well.

According to data from Coingecko, there has been a significant increase in trading activity on the Binance exchange over the past week.

The increased trading activity on the Binance exchange suggests growing market interest and participation, which can potentially lead to higher revenue for Binance through transaction fees.

It may also indicate a strengthening position for Binance as a preferred platform for cryptocurrency trading, attracting more users and fostering liquidity.

Realistic or not, heres BNBs market cap in BTCs terms

Despite the popularity of the Binance exchange, the state of its native token BNB continued to see problems. Notably, BNBs price reduced from $342.58 to $309 in the last week. In tandem with the declining price, the volume of BNB being traded also fell materially during this period.

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Binance burns BUSD, USDC: How will the stablecoin market react - AMBCrypto News