Tag: Binance

Binance Moves to Dismiss $1.76B FTX Lawsuit — 4 Key Reasons Behind the Legal Battle

Binance and its former CEO, Changpeng Zhao, have filed a motion to dismiss a $1.76 billion lawsuit brought by FTX’s bankruptcy trustees. The lawsuit alleges that Binance received funds improperly when FTX repurchased equity from the exchange in July 2021.

binance

In a Delaware court filing dated May 16, it argued that the court lacks jurisdiction since the involved FTX entities are based outside the U.S., primarily in the Cayman Islands and Ireland. Binance also contends that the repurchase transaction is protected under the “safe harbor” clause because it qualifies as a securities contract.

Furthermore, it denied allegations that Changpeng Zhao’s social media posts contributed to a bank run on FTX, calling these claims “pure conjecture” sourced from hindsight speculation by a convicted fraudster.

Binance placed the blame for FTX’s collapse squarely on its founder, Sam Bankman-Fried, pointing to “pervasive malfeasance” and ongoing fraud within FTX leadership as detailed in the lawsuit itself.

This legal battle highlights the continuing ripple effects of the FTX collapse on the crypto industry, with significant stakes and reputations on the line.

You might also like: XRP ETF Hype and $64M Whale Move Signal Breakout — BTC Bull Token Flexes 78% Staking Yield

Binance & Islamabad United Team Up: Trade to Win 20K USDT and VIP Cricket Perks

Binance is bringing cricket and crypto together in style with a new VIP Exclusive Trading Competition during Islamabad United’s matches from April 18 to May 10,

Binance and Islamabad United Unite for a Cricket-Crypto Celebration

Participants can win from a 20,000 USDT prize pool, VVIP match tickets, and signed team merchandise. First place takes home 5,000 USDT, a signed bat from the entire team, and a VVIP ticket. Second to ninth place winners will share 5,000 USDT and receive VVIP access. Tenth to twenty-fifth place earn VIP tickets and split another 5,000 USDT. The top 100 traders will share the final 5,000 USDT, with five receiving signed merch.

Binance Islamabad Team Up

To join, users must be at least VIP 1 on Binance, register for the campaign, and start trading Spot, Futures, or Convert. Only officially invited users are eligible.

Tickets are valid for Islamabad United matches only. All physical rewards will be sent by May 18. Winners must claim tickets within 24 hours, or they’ll be reallocated.

Binance stresses fair play — wash trading or fake accounts will lead to disqualification.

YOU MIGHT ALSO LIKE: Trump Goes Full Crypto: $17B Bitcoin Stockpile Confirmed by U.S. Gov Sparks Market Buzz

Pi Network Fans vs. Binance: Fake News Sparks Drama Over Exchange Listing!

Pi Network fans mad at Binance for not listing Pi. Fake news spread about Binance’s rating drop, but it’s false.

Binance, the world’s largest crypto exchange, is under fire from Pi Network fans, aka “Pioneers,” who feel betrayed.

The drama started when Binance ran a poll asking if Pi should be listed. Pioneers got hyped, expecting an actual listing. But Binance hasn’t given any updates, and now, Pi fans are furious.

Some social media users falsely claimed that Binance’s Google Play rating dropped to 1.5 stars because Pi supporters spammed 1-star reviews. But that’s straight-up fake news. Binance’s real rating is still at 4.2 stars.

Binance Rating On Google Play Store
Binance Rating on Google Play Store
Sure, some Pioneers might’ve left bad reviews, but the actual impact is minimal. Binance’s App Store rating did drop from 4.8 to 4.2, but nothing close to the claimed freefall.

Pi fans accuse Binance of using the poll just for social media engagement, not an actual listing. But others in crypto think review-bombing won’t work. One user said, “Stop using Binance’s rating as a hostage to list your coin.”

Meanwhile, Binance remains silent. But let’s be real—bad reviews alone won’t force the biggest exchange to list Pi.

Also Read: Polymarket Shows 41% Recession Probability in 2025 as Trump’s Bold Moves Shake Economy

Binance Secures $2B Investment from MGX: Major Milestone for Crypto Industry

Binance gets a $2B investment from MGX in stablecoins. The biggest crypto company investment yet. CZ celebrates!

Big news for Binance! The crypto exchange just bagged a $2 billion investment from MGX, an investment firm from Abu Dhabi. This is Binance’s first institutional investment, and it’s a game-changer for the industry.

The deal was paid entirely in stablecoins, though the specific stablecoin wasn’t revealed. With this move, MGX gains a minority stake in Binance, making this the largest investment ever in a crypto company. Binance processes a whopping $20 billion in daily transactions, making it the king of the crypto world.

CZ (Changpeng Zhao), Binance’s founder, who also holds UAE citizenship, celebrated the news, calling it a “milestone”. According to MGX CEO Ahmed Yahia, the investment is part of their plan to accelerate blockchain and digital finance.

And here’s the kicker: About 20% of Binance’s global team is based in the UAE, and the region has been a stronghold for Binance despite regulatory challenges elsewhere.

This move further solidifies Binance’s grip on the global crypto market.

Also Read: Singapore and Vietnam Strengthen Ties with Digital Asset Cooperation

Binance Empowers Women in Crypto: A Bold Move for International Women’s Day

Binance celebrated Women’s Day by raising crypto awareness for women in Africa, demonstrating financial freedom is not just for men.



Forget the flowers and chocolates—Binance just gave International Women’s Day an entirely new definition with a massive crypto empowerment initiative in Kenya and Togo. The mission? Give women the tools to lead in Web3 and take charge of their financial futures.

The #WomenWhoCrypto meetups were packed with energy and game-changing conversations. From inspiring talks in Kenya to empowering discussions in Togo, women from different backgrounds came together to talk crypto, share their experiences, and build connections that could change their futures.

Binance even went and did it in an interactive fashion—having them join their Binance Square page, sharing how crypto has impacted their life, and earning them $20 in crypto + Binance gear. The initiative, fittingly christened #BeBinanceBeHardcore, is to break down boundaries and show women have a place in blockchain, DeFi, and Web3 as much as everyone else does.

Women have always defined the future of technology, and now they’re redefining the crypto space—from leading blockchain innovations to fighting for fairer regulation. Binance isn’t talking about diversity—its deeds are louder than words, ensuring women aren’t just invited but leading the way.

When financial independence is at stake, this is just the beginning. Who run the blockchain? Women.

Also Read: Insider Whale Scores $2.15M Profit on ETH Pump—Is This Another Trump-Linked Crypto Play?

Bybit Hacker Used Binance for Gas Fees Before $1.4B Heist

Summary: One new twist in the Bybit hack is that the hacker used Binance to fund gas charges just days prior to stealing $1.4 billion from the exchange. This raises questions about who the hacker is and if Binance’s records could be used to find them.

The Bybit hack just got even more interesting. It turns out the attacker used Binance to top up Ethereum for gas fees three days before pulling off the $1.4 billion exploit. This detail was uncovered by blockchain analytics firm Lookonchain, adding a new layer to the investigation.

YOU MIGHT ALSO LIKE: YZY Coin Surges 85% Amid Rumors of Kanye West’s Crypto Endorsement

The fact that the hacker interacted with Binance means there’s a chance their identity could be traced. Security experts at Beosin are urging Bybit to contact Binance to access KYC (Know Your Customer) data linked to the transaction. If the account is legit, it could be a major break in the case.

That said, there’s a high probability the Binance account was purchased on the dark web meaning fake credentials were used, making it a dead end. Only a police investigation, with cooperation from both Bybit and Binance, can confirm if this lead is useful.

YOU MIGHT ALSO LIKE: SEC Drops Case Against OpenSea NFT Marketplace, No Charges Filed

The hack was particularly on Bybit’s Ethereum cold wallet, which emptied 401,347 ETH. The market repercussions are already being experienced, with the price of Ethereum dipping 6% once the news emerged. Everyone is now waiting for Binance and whether their data can be utilized to track the hacker.

Nigeria Files $81.5B Lawsuit Against Binance for Economic Losses and Tax Evasion

Nigeria is suing Binance for $81.5B tax evasion and economic damage, blaming it for the collapse of the naira and financial instability.



Nigeria just sued Binance for a record $81.5 billion, claiming that the exchange had caused enormous economic damage to the country. The suit demands $79.5 billion in damages and $2 billion in unpaid taxes. The devaluation of the naira was largely brought about by Binance, the Nigerian government claimed, and its foreign exchange trading damaged the local economy.

Binance has not yet registered in Nigeria, but the Federal Inland Revenue Service (FIRS) argues that the exchange has adequate presence to be taxed as a company. FIRS is requesting Binance to pay tax and penalty from three and two yeas ago for late payment. The government is asking for a 26.75% rate of interest on the unpaid tax.

In addition to tax issues, Binance is facing four counts of tax evasion, from failure to file tax returns to helping users evade taxes. The firm had previously stated it’s working with Nigerian regulators to resolve tax problems but has not responded to the new suit.

Meanwhile, Binance stopped transactions in Nigerian naira in March 2024 after the government intensified its crackdown on crypto exchanges. Binance is also facing separate money laundering charges, which it denies.

Also Read: Whale Withdraws $20.8M in SOL from Binance—Is a Price Surge Incoming?

Whale Withdraws $20.8M in SOL from Binance—Is a Price Surge Incoming?

A crypto whale moved $20.8M in SOL from Binance, sparking speculation. Traders are betting on $162.8 as strong support.


A crypto whale just made a major move, pulling 123,500 SOL (worth $20.8M) out of Binance, according to Lookonchain. Big transfers like this usually hint at accumulation, but so far, Solana’s price hasn’t popped—it’s still chilling around $172.

Solana recently dipped below its $180 support and is now under the 200 EMA, signaling a bearish trend. Right now, SOL is hovering between $160 and $180, and unless it breaks past $190, it might stay stuck. If it drops below $160, we could see another 20% crash to $120.

But not all are bearish. Data from Coinglass shows that traders have stacked $145M worth of long positions above $162.8, indicating that they are confident this level will resist. In the event that enough buyers come in, SOL could bounce back.

It’s a waiting game for now—will the whale’s shift trigger a rally, or do we have more dips ahead? Solana traders are crossing their fingers.

Also Read: Coinbase CEO Cautions: Memecoins Could Lead to Legal Trouble

Binance Brings Back USD Deposits and Withdrawals After 18 Months

Almost a year and a half afterwards, Binance.US eventually reopened USD deposits and withdrawals, a big step up for the exchange.

In a recent blog post update, Binance.US stated that customers will once more be able to deposit and withdraw USD through bank transfers (ACH). The feature will be available to all worthy customers within the next several days. To go along with this, the website is also returning fee-less ACH transactions, crypto staking, OTC trading, and a feature which enables customers to turn small cryptocurrency balances into usable cash.

YOU MIGHT ALSO LIKE: Dave Portnoy Banks $258K on GREED Memecoin, Unveils GREED2 for Round Two

Interim CEO Norman Reed called the move a major milestone. “We are thrilled to restore fiat rails as we gain momentum in the new year,” he said, adding that this moment is one of the most unexpected comebacks for Binance.US since its struggles two years ago.

The exchange halted USD transactions in June last year after the SEC sued Binance and its founder, Changpeng “CZ” Zhao, accusing them of breaking securities laws and mishandling billions in customer funds. By October, Binance.US had stopped accepting USD entirely.

And then in November, the company resolved with U.S. regulators in a record-breaking $4.3 billion agreement, one of the largest in history. Under the agreement, Binance committed to adhering to regulatory requirements.

YOU MIGHT ALSO LIKE: Is 2025 the Year of Altseason? Outset PR’s Founder Reveals How Crypto Projects Can Benefit

Today, with regulations evolving and maybe a shift of government policy later this year, Binance.US is restarting full fiat services, possibly a turning point for crypto in the United States.

Nigeria Government vs. Binance’s Tigran: A Clash Over Corruption Allegations

Tigran Gambaryan accuses Nigeria of blackmail and torture, while the government denies the claims, sparking a heated online dispute.

The drama between Binance’s former exec Tigran Gambaryan and the Nigerian government is heating up. Gambaryan, who was arrested in February one year before while in Nigeria for a meeting with government officials about Binance, spent eight months in jail before being released on humanitarian grounds. During his time in custody, he was charged with money laundering and tax evasion.

After returning to the U.S., Gambaryan went off, accusing Nigerian officials, including those from the DSS (Nigeria’s State Security Services), of trying to extort $150 million in crypto from Binance. He claims he was tortured while in jail, even though he was in poor health, and that he was used as a scapegoat in the whole mess.

Of course, the Nigerian government is having none of it. They denied all of Gambaryan’s claims, calling them “falsehoods” and stating that his first visit wasn’t even official. They also said that his release wasn’t because of any humanitarian reason but due to diplomatic intervention. They even alleged that Binance tried to pay a $5 million ransom to free him, but it was rejected.

Gambaryan shot back on X (formerly Twitter), calling the government’s statement lies and promising more legal action in the future. This saga is only getting messier.

Also Read: Near Protocol Ex-Employee Accidentally Leaks Nudes on Livestream, Apologizes to Girlfriend

Exit mobile version