Binance transferred $3.9 billion USDT between its wallets, days before a report about a $4 billion settlement with the United States Justice Department was published.

Binance transferred $3.9 billion USDT between its wallets, days before a report about a $4 billion settlement with the United States Justice Department was published.
Bitcoin whale entities are bringing back the status quo from Bitcoin's Q1 breakout, with the BTC price battleground now clearly defined.
The crypto community, including prominent industry lawyers and U.S. Senator Cynthia Lummis, is sounding off about the new lawsuit filed by the U.S. SEC against cryptocurrency exchange Kraken.
In the aftermath of Fantom’s $550,000 hack in October, a security researcher found that the attacker could have stolen as much as $170 million.
The Fantom Foundation, a nonprofit organization developing the Fantom blockchain platform, has eliminated a significant vulnerability after a $550,000 hack in October.
On Oct. 17, the Fantom Foundation suffered a hot wallet hack, with an unknown attacker draining 1% of Fantom Foundation’s funds. The foundation subsequently stopped using some of the affected wallets, reassigning them to a Fantom employee, making it a “targeted attack.”
Following the incident, an unnamed security researcher found an additional potential risk associated with the hack and alerted the Fantom Foundation, according to a blog post on Nov. 20. The vulnerability was associated with a dormant admin token for Fantom’s ERC-20 FTM contract, which could potentially allow the attacker the ability to mint a portion of Fantom (FTM) for themselves on Ethereum.
According to the Fantom Foundation, the discovered vulnerability could have allowed the hacker to drain $170 million using the wallet access. The organization said the value of the potential loss is based on the token price at the time of the hack, “though this estimate does not consider the market’s insufficient liquidity to absorb the tokens fully.”
The Fantom Foundation said that the vulnerability was “mitigated quickly,” and the organization awarded the unnamed researcher $1.7 million in recognition of the contribution. The announcement added:
dYdX founder Antonio Juliano said they’re working to find the original culprit behind the exploit, and they’d rather pay community members who help in the investigation than the exploiter.
Validator service provider InfStones disagreed and told Cointelegraph that “nothing close to $1 billion in assets would be at risk,” even in the worst-case scenario.
Jesse Powell didn’t mince words when he criticized the SEC for suing his exchange, calling it the country’s “top decel.”
BNB hit its highest price since June after Bloomberg reported the Justice Department wanted $4 billion from Binance to end its probe into the exchange.
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BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company.
Cointelegraph Markets Pro shows BNB spiked 6% to $262 in around 30 minutes after Bloomberg’s Nov. 20 report, which said Binance was negotiating an agreement to resolve a DOJ probe into alleged sanctions violations, money laundering and fraud.
BNB dropped to $252 around four hours later but notched a second spike to $266 — its highest price since June 7 — two days after the Securities and Exchange Commission sued Binance and CEO Changpeng “CZ” Zhao alleging they violated various securities laws.

Bitcoin transaction fees have soared above Ethereum’s amid a renewed appetite for Ordinals-inscribed assets.
Bitcoin transaction fees have soared above Ethereum’s amid a renewed appetite for Ordinals-inscribed assets.
The crypto advocacy group said OFAC must act within its statutory authority by sanctioning bad actors, not open-source software tools.
The crypto advocacy group said OFAC must act within its statutory authority by sanctioning bad actors, not open-source software tools.
Alex O’Donnell spoke to us about his career as a financial journalist — and how it led to his involvement in crypto and Umami DAO.
Umami Labs CEO Alex O’Donnell grew up on the outskirts of Philadelphia before attending Temple University to study literature and economics. That path led him to devote seven years of his life as a financial journalist at Reuters, where he specialized in M&As IPOs.
He said his academic focus created a “pretty natural synthesis” when it came ot financial journalism. However, he said he became “disenchanted” with his industry while he was cooped up at home during the Covid-19 pandemic. “There really was a three-way alliance between journalists, government officials and technology companies trying to control the flow of information,” O’Donnell said in an interview with Cointelegraph.
He began tinkering with cryptocurrency, which led to his introduction with Umami DAO — and ultimately his creation of Umami Labs.
O’Donnell and his wife, Sanjana, are preparing for a “third, smaller person” to join their family next year. In the meantime, he said he’s also gearing up for another crypto-related venture. The details aren’t fully public yet, but he said he plans to release more information the months ahead.
I’d been a journalist for the better part of a decade primarily covering mergers and acquisitions. I always had an interest in finance and tech. But I started becoming a bit disenchanted with the mainstream media around the time of the pandemic. That was the first time I started becoming a bit more cynical about my own industry’s role in the information economy. So I started paying more attention to issues like privacy, censorship and other things I had not taken as much interest in before.

Umami Labs CEO Alex O’Donnell grew up on the outskirts of Philadelphia before attending Temple University to study literature and economics. That path led him to devote seven years of his life as a financial journalist at Reuters, where he specialized in M&As IPOs.
He said his academic focus created a “pretty natural synthesis” when it came ot financial journalism. However, he said he became “disenchanted” with his industry while he was cooped up at home during the Covid-19 pandemic. “There really was a three-way alliance between journalists, government officials and technology companies trying to control the flow of information,” O’Donnell said in an interview with Cointelegraph.
He began tinkering with cryptocurrency, which led to his introduction with Umami DAO — and ultimately his creation of Umami Labs.
O’Donnell and his wife, Sanjana, are preparing for a “third, smaller person” to join their family next year. In the meantime, he said he’s also gearing up for another crypto-related venture. The details aren’t fully public yet, but he said he plans to release more information the months ahead.
I’d been a journalist for the better part of a decade primarily covering mergers and acquisitions. I always had an interest in finance and tech. But I started becoming a bit disenchanted with the mainstream media around the time of the pandemic. That was the first time I started becoming a bit more cynical about my own industry’s role in the information economy. So I started paying more attention to issues like privacy, censorship and other things I had not taken as much interest in before.

Alex O’Donnell spoke to us about his career as a financial journalist — and how it led to his involvement in crypto and Umami DAO.
Alex O’Donnell spoke to us about his career as a financial journalist — and how it led to his involvement in crypto and Umami DAO.
Alex O’Donnell spoke to us about his career as a financial journalist — and how it led to his involvement in crypto and Umami DAO.
