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Following the guilty plea issues in November of 2023, a US Judge approved Binances plea deal to see the exchange pay a $4.3 billion fine. Indeed, the approval will now see the exchange pay one of the largest penalties in US history following a years-long investigation into the exchange.

The massive plea deal made headlines last year, with the approval seeing Binance admit to engagement in money laundering and sanction violation charges. Additionally, the US Department of Justice Press Release announced that the firms former CEO, Changpeng Zhao, pleaded guilty to Federal charges that would ultimately lead to his resignation.

JUST IN: Judge fines #Binance $4.3 billion in US plea deal after admitting to money laundering & sanctions violations.

Also Read: Binance Targeted: Nigeria Acts Against Crypto Amid Forex Concerns

The Binance brand has long been a pillar of strength within the digital asset sector. However, that trust and standing took a massive hit at the tail end of 2023. The exchange would face a plethora of federal charges. Subsequently, the exchange would face a $4.3 billion resolution and would see their longstanding head abandon his position.

Now, that resolution has been confirmed in the situations latest development. Specifically, a US judge has approved Binances plea deal that will result in a $4.3 billion fine from the exchange. Indeed, the amount is set to be one of the largest criminal penalties issued in American history.

Also Read: Binance Trust Wallet Under Probe By U.S. Officials

This really is a case where the ethics of the company were compromised by greed, US District Judge Richard Jones said in the hearing according to Bloomberg. The approval was issued on Friday in the proceedings that took place in Seattle.

Additionally, the approval sees Binance admitted to its role in the Federal violations. Conversely, the resolution was part of a coordinated effort from several US government agencies. Among those were the Office of Foreign Assets Control (OFAC) and the US Commodity Futures Trading Commission (CFTC).

Continued here:

Judge Fines Binance $4.3 Billion in US Plea Deal - Watcher Guru

Last updated: February 24, 2024 03:08 EST | 3 min read

In the wake of Binances substantial $4.3 billion plea agreement, market analysts are closely watching the Bitcoin price prediction, searching for indicators that may signal a return to a bull market.

With Bitcoin currently trading at $50,500, a modest downturn of 0.50% on Saturday, the implications of this legal settlement are under scrutiny for their potential impact on cryptocurrency market dynamics.

The settlement, approved by a U.S. judge, demands Binance to pay hefty fines for lapses in anti-money laundering efforts. As the cryptocurrency landscape adjusts to these new legal precedents, the question remains whether Bitcoin can leverage this moment to resume its upward trajectory.

A U.S. judge has sanctioned a settlement involving Binance, the worlds largest cryptocurrency exchange, agreeing to a guilty plea and a $4.3 billion penalty for breaches of federal anti-money laundering and sanctions regulations.

This judgment by U.S. District Judge Richard Jones in Seattle includes a criminal fine of $1.81 billion alongside $2.51 billion in forfeitures.

The settlement addresses serious lapses identified in Binances operations, including insufficient internal controls which led to the platform failing to report over 100,000 suspicious transactions linked to groups designated as terrorist organizations, such as Hamas, al Qaeda, and ISIS.

Furthermore, Binance was implicated in facilitating transactions involving child sexual abuse materials and ransomware proceeds.

In response to these findings, Binance has acknowledged its responsibility and undertaken significant enhancements to its compliance mechanisms, including improving its anti-money laundering and know-your-customer procedures.

As part of the settlement, Changpeng Zhao, Binances founder, who pleaded guilty to related charges, is currently on a $175 million bond in the U.S. His conditions include a $50 million fine and a requirement to resign as Binances CEO.

Proposed changes to Zhaos bond aim to ensure his compliance with U.S. travel and residency restrictions until his sentencing, emphasizing the need for Zhao to notify authorities of any travel plans, surrender his passports, and possibly undergo location monitoring.

Key Points:

Bitcoins market movements on February 23 show the cryptocurrency in a consolidation phase, with the price hovering around $51,033, slightly above the 50-day Simple Moving Average of $51,654.

The asset is caught within a narrowing symmetrical triangle pattern, indicating indecision among traders.

The formation of a symmetrical triangle and a triple bottom pattern around the $50,700 level suggests a neutral bias among investors.

A breakout above this level could signal a bullish trend, while a break below could turn the trend bearish.

For now, Bitcoin appears to be in a holding pattern, awaiting a catalyst for its next significant move.

The Ethereum-based stake-to-mine platform, Bitcoin Minetrix (BTCMTX), is tantalizingly close to its funding objective. With $11,346,605.07 already raised, its just a stride away from the $12,178,088 target.

Why Bitcoin Minetrix is Captivating Investors:

At present, BTCMTX tokens are available at $0.0136, with an impending price increment on the horizon. Theres a rapidly closing windownow less than a dayfor investors to lock in tokens at the current rate through the Bitcoin Minetrix portal.

As the fundraising phase culminates, Bitcoin Minetrix gears up for a pivotal launch, set to invigorate the mining and staking domains.

Seize this chance to join the Bitcoin Minetrix wave before the price ascends.

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Originally posted here:

Bitcoin Price Prediction as Judge Approves Binance's $4.3 Billion Plea Deal Can Bull Market Resume Now? - Cryptonews

At least 3 different whale XRP transfers from Binance were recorded within the space of 24 hours, suggesting a possible accumulation trend.

While whale XRP transactions are not uncommon in the market, a recent unusual trend involves the consistent XRP outflows from the same exchange. This move typically signals a likely coordination between a whale or institution.

These transfers have drawn comments from some members of the XRP community due to their prevalence in such a short period of time.

According to data insights from Whale Alerts, the largest of the transfers from Binance involves 20,898,914 XRP worth $11,286,635.

Notably, the recipient of the funds was also activated by Binance, per data from Bithomp. This has led to speculation that the transaction could be an internal fund movements from Binance.

Besides this, another 18,544,887 XRP worth $10,016,690 was also moved from the trading platform to another Binance-activated wallet. In addition, the third transaction is worth 19,905,635 XRP or $10,751,673.

A proper analysis of the activating wallets shows a unique trend, all three transfers are traceable to the same wallet, implying that a single whale might be behind this movement with strong ties to Binance.

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Over the past months, most XRP transfers have always had a strong tie to Ripple Labs with the preferred exchanges being Bitstamp and Bitvavo amongst others. This Binance-linked transfer shows a new major trend.

While these XRP transfers show accumulation, another major whale transaction emerged involving an inflow to Binance. The Whale Alert data shows 95,000,000 XRP valued at $51,369,170 at an average price of $0.5407 were transferred to the exchange.

This 90 million XRP can also be traced to Binance but with a different wallet compared to the one linked to the three outward transactions analyzed earlier.

Amid these transfers, XRPs price and market capitalization have dropped to $0.5469 and $29,843,688,415. The assets trading volume is also down 11% to $1,382,001,359.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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XRP Whales Move Nearly 60 Million XRP from Binance - The Crypto Basic

Last updated: February 24, 2024 01:14 EST | 2 min read

It has been an exciting couple of weeks, from GoDaddys integration with ENS to Wormholes snapshot of eligible wallets for its upcoming airdrop and Bitcoin hitting $50,000. Adding to this excitement is Binance Futures introduction of the USDC-margined ORDI (ORDI) Perpetual Contract, scheduled for launch on February 22.

At the same time, Cardano (ADA) has been riding the bullish market wave, eyeing a significant price uptick. In the ICO world, InQubeta (QUBE), an emerging crypto, is nearing $10 million in presale and is set to skyrocket after launch.

InQubeta (QUBE) is one of the most impressive new ICOs currently. Racing ahead, a staggering $9.9 million has been raised in its early funding, with sights set on breaking the $10 million fundraising goal. This massive presale participation suggests investor confidence in its appeal and potential.

A token costs only $0.0224 in the seventh stage of the ICOa ridiculously low entry point. Meanwhile, according to experts, it will experience a 55x upswing after its launch, which positions it as the best new crypto to invest ina recommended presale.

Aside from its explosive upside potential, its novelty makes it more appealing. Standing at the intersection of AI and blockchain, it aims to solve critical issues within the fast-rising AI sector, in particular, reshaping the fundraising landscape.

It will build the first crypto-based crowdfunding platform, allowing AI tech startups to source capital through its utility token, QUBE. By simply minting investment opportunities, which will be represented as equity-based NFTs, and offering them to investors on the marketplace, startups can raise much-needed capital. Further, through the fractionalization of these unique NFTs, investors can become early backers of AI ventures with no limits on investment.

ORDI (ORDI) is a novel crypto with text or image NFTs as tokens on the Bitcoin network. It is the first BRC-20 token to be created using the Ordinals protocol. Stirring up much buzz, it is the talk of the crypto community, especially among Bitcoin enthusiasts, with its price charting a bullish trajectory.

In exciting news, Binance Futures is set to introduce the USDC-margined ORDI Perpetual Contract, which is scheduled to launch on February 22. This has been creating ripples of excitement within the community, with the price reacting positively.

Binance Futures will offer enthusiasts and traders an impressive leverage of up to 75xhigh-risk, high-reward trades. With excitement on the rise, ORDI is expected to see further upside, making it one of the best coins to invest in.

Cardano (ADA) has demonstrated impressive performance this year, leaving critics second-guessing. While it was written off by many, its growth so far in 2024 has left holders excited, turning skeptics into fans.

Following the rise in investor sentiment post-Bitcoin ETF, Cardano is among the altcoins riding the ensuing bullish wave. Aiming for a breakout, it is one of the altcoins to watch. According to analysts, ADA will race past $0.65 in the coming days.

If you have yet to position yourself, there might not be a better time than now. Simply add Cardano to your portfolio, HODL, and ride its huge wave.

Binance Futures imminent listing of ORDI has sent ripples of excitement within the community, coinciding with a rally in its price. At the same time, Cardano is on the rise, eyeing a significant uptick, while InQubeta prepares to skyrocket post-launch. To become an early QUBE holder and position for staggering gains, click the link below.

Visit InQubeta Presale

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Binance Futures to List ORDI; Cardano Eyes Significant Uptick InQubeta Nears $10M in Ongoing Presale - Cryptonews