Merit Peak News

The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in November 2021. Still, the current recovery is notable. 

In the latest episode of The Market Report, analyst and writer Marcel Pechman explains that United States inflation slowed for an 11th straight month in May, even though the Consumer Price Index increased 4% year-over-year. That’s down from 4.9% in April but still above the 2% target.

Kevin O’Leary said the Securities and Exchange Commission levied some “serious” allegations in the 136-page charging document the agency issued against Binance on June 5, telling Cointelegraph in an interview that he believes founder and CEO Changpeng Zhao is in a “tough” spot.

Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange's purportedly independent U.S. affiliate, including an account that held American customers' funds, bank records show. U.S. lender Silvergate Bank authorized the executive, Guangying Chen, a close associate of Binance CEO Changpeng Zhao, to operate the accounts in 2019 and 2020, according to records from those years. This allowed Chen and her deputies to move funds held in the bank accounts. Employees at the affiliate, Binance.US, had to ask Chen's team to process payments, even to cover the firm's payroll, company messages show. The new findings offer further detail into how Binance exercised tight control over Binance.US, despite both firms maintaining that they have always operated independently. The previously unreported bank records and messages show that Binance's management over the U.S. business's finances extended across its bank accounts at Silvergate and detail how this secret access was granted. Binance.US has denied that Binance ever operated its bank accounts. Its head of legal, Krishna Juvvadi, told in April that employees of Binance.US's operator, BAM Trading, had «exclusive control» since its founding in 2019.

This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.

Binance has moved more than $400 million from its purportedly independent U.S. partner to a trading firm managed by the company's CEO Changpeng Zhao.

An investigative report has suggested that major cryptocurrency exchange Binance was behind transferring roughly $400 million in funds from a Binance.US account to a trading firm managed by Changpeng Zhao.

Crypto exchange Binance published a lengthy response to an article published by Reuters that claims that the exchange has been a “hub for hackers, fraudsters and drug traffickers,” saying that there’s at least “$2.35 billion in illicit funds” laundered within the exchange. 

The Securities and Exchange Commission is examining the relationship between the US arm of Binance, the world’s largest cryptocurrency exchange, and two trading firms with ties to Binance’s founder, people familiar with the probe say.

The U.S. Securities and Exchange Commission has reportedly launched a probe into major crypto exchange Binance's U.S. arm regarding trading firms connected to Binance CEO Changpeng Zhao.