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BTC dropped to the lowest level since March 17 after the agency sued the crypto exchange for alleged regulatory violations. Binance Coin (BNB)’s price declined by 5%.

If the U.S. were to design a digital dollar that protects the privacy of its users and is free of surveillance tools, it could reach mass adoption, the Digital Dollar Project co-founder said.

Twitter’s reasoning remained unclear at press time.

Crypto users have withdrawn roughly $400 million on Ethereum from Binance in the past 24 hours, while Paxos, issuer of the Binance USD, has burned more than $155 million BUSD in the past four hours.

The Federal Deposit Insurance Corp. is investigating the actions of the leaders of Signature Bank and Silicon Valley Bank to hold them accountable for their collapses, said Chairman Martin Gruenberg, who detailed their mismanagement and dangerous business concentrations – especially in digital assets at Signature – in testimony prepared for a U.S. Senate hearing.

Citing an ongoing regulatory crackdown, crypto companies are considering shifting to more favorable jurisdictions. Jeff Wilser reports.

An artist made great art and learned about Bitcoin.

The approved proposal aims to set a new foundation for the largest decentralized lending protocol’s major restructuring called “Endgame.”

Binance saw an increase in withdrawals after the Commodities Futures Trading Commission sued the crypto exchange for allegedly violating federal laws and failing to register in the U.S.

Since the lawsuit was announced, $169 million was withdrawn from the exchange against just $46 million of deposits, a net outflow of $123 million.

Crypto data provider Nansen shows that Binance holds $63.7 billion worth of cryptocurrencies. The data is based on a list of wallets that the exchange released publicly, in order to show transparency into its holdings.

The lawsuit claimed that Binance, the world’s largest cryptocurrency exchange, still served U.S. customers and tried to increase its presence in the region, despite public assertions that it was not available to U.S. customers. It claims that Binance executives replaced data referring to U.S. customers with the word “UNKWN,” short for unknown.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Zero-fee trade volume accounted for 66% of Binance’s trading volume in mid March prior to the decision to eliminate the zero-fee promotion.