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The post LAB Token Crashes 85% Ahead of Airdrop Unlock, ZachXBT Calls Out Binance, Bitget, and Gate appeared on BitcoinEthereumNews.com. LAB token just lost 85% of its value in under 24 hours, collapsing from $14, a price that implied a $14 billion fully diluted valuation, to just under $2. On-chain investigators and market watchers are describing it as a textbook case of insider-controlled price manipulation playing out in plain sight. ZachXBT has publicly called out Binance, Bitget, and Gate by name for failing to take action, and a separate on-chain analyst is flagging suspicious wallet activity that suggests the worst of the selling pressure may not be over yet, with an airdrop unlock still pending. The combination of insider-controlled float, late vesting schedule changes, and a dev wallet moving tokens to a centralized exchange right before a community airdrop is claimable has put the LAB situation on the radar of anyone paying attention to how token launches go wrong. An 85% Cra
Read full articleReduced cooperation from Binance could shift market dynamics, benefiting U.S.-regulated exchanges and impacting global crypto enforcement strategies. The post DOJ memo warns of reduced Binance cooperation on crypto cases starting June 8 appeared first on Crypto Briefing.
The post DOJ Reportedly Warns of Binance Cooperation Shift appeared on BitcoinEthereumNews.com. The US Department of Justice (DOJ) reportedly warned prosecutors to expect reduced cooperation from Binance in cryptocurrency investigations, according to The Information. The reported internal memo suggests investigators may face stricter legal requirements when seeking account freezes and asset seizures. Binance, however, has strongly denied making any changes to its law enforcement cooperation policies. DOJ Memo Signals Tougher Process for Crypto Investigations According to a report on The Information, the DOJ circulated an internal memo warning attorneys handling digital asset cases that Binance would no longer provide so-called “courtesy freezes” beginning June 8. Courtesy freezes are voluntary, temporary account restrictions that exchanges can apply upon requests from law enforcement or victims while formal legal documentation is obtained. The memo reportedly states that Binance will i
The post Nexo Card Goes Live In Argentina Under Andres Ondarra’s Leadership appeared on BitcoinEthereumNews.com. Nexo, a popular digital asset wealth entity, is launching Nexo Card in Argentina. The development signifies a key moment for Nexo’s strategy for expansion in Latin America. As Nexo mentioned in its official announcement, the launch parallels Andres Ondarra’s appointment as Nexo Argentina’s General Manager, who previously served as an executive at Binance. Hence, this move signals a clear commitment to regional growth. Nexo Card Launches in Argentina to Boost Adoption of Digital Wealth With Nexo Card’s rollout in Argentina, Nexo endeavors to advance its Latin American strategy. This, at a time when Andres Ondarra has become Nexo Argentina’s General Manager, highlights the endeavors to turn Buenos Aires into its primary operational hub within Latin America. Together, the respective developments signify Nexo’s attempts to incorporate digital wealth instruments into daily financ
The post BNB Chain plans 2027 launch date for AI agent L1 rollout appeared on BitcoinEthereumNews.com. BNB Chain disclosed today that it is already setting up the stack for the projected boom in on-chain agentic activity as it announced the ongoing development of a separate Layer 1 blockchain tuned for autonomous trading agents. The Binance-linked blockchain network said that the testnet is expected to become public by late 2026, with mainnet to launch in early 2027, according to its H2 2026 technical roadmap. BNB Chain, which already has BNB Smart Chain (BSC), opBNB, and Greenfield, is pitching the fourth chain in its stack as the solution for workloads its older chain was not designed for, rather than a replacement for the existing $8.4 billion DeFi ecosystem on BSC, per DeFiLlama data. Splitting BSC’s liquidity across the new chain is a real possibility that the technical team is planning to get ahead of. The plan, according to the project’s CTO, is to connect the new chain to BSC t
The post Traders count losses as LAB token crashes 85% after multiple warnings appeared on BitcoinEthereumNews.com. LAB has lost about 85% of its value in 24 hours, falling to just under $2 from around $14 following months of public warnings that its price was inflated and its supply was controlled by insiders. Traders holding leveraged long positions suffered heavy losses from forced liquidations, and a major token unlock scheduled for July 14 could add more selling pressure. LAB crashes by 85% Blockchain investigator ZachXBT posted on July 8 that the LAB token had fallen 85% to just under $2 from $14 ($14B FDV) in the past 24 hours. The crash happened so fast that it forced the automatic closure of leveraged trades, especially on Binance’s perpetual futures market. The token was reportedly still trading near $15 on Binance’s spot market as recently as July 5, but it later dropped to about $4.30 on the USDT perpetual market. CoinMarketCap data put the token at $2.18 the same day, down
The post Binance BTCY & BITA: Bitcoin Covered-Call Yield Goes Mainstream appeared on BitcoinEthereumNews.com. Your group chat lights up on a Tuesday: “Binance is paying weekly BTC.” A link follows. It is Binance’s new BTC Yield, a covered-call wrapper that turns your Bitcoin into a ticker called BTCY and promises potential Friday distributions in BTC. Suddenly, passive income is the conversation again. The day before, you saw headlines about BlackRock listing a covered-call Bitcoin ETF on Nasdaq. Same idea, different wrapper. Spot BTC plus call options to skim premium. And like that, strategies that used to live in DeFi vaults and options chatrooms are now on the biggest exchange and the biggest asset manager’s shelf. This is not about hot new coins. It is about packaging an old options trade so it fits where people already keep their Bitcoin. Covered-call income has moved from niche to mainstream. Binance just announced BTC Yield, ticker BTCY, a BTC-denominated income product that con
AscendEX's closure highlights the critical need for regulatory compliance and transparency to protect investors in the volatile crypto market. The post AscendEX ceases operations after ZachXBT warning on withdrawals appeared first on Crypto Briefing.
The post USD1 Stablecoin Explained: How It Works & Who Backs It appeared on BitcoinEthereumNews.com. World Liberty Financial’s USD1 has gone from a March 2025 launch announcement to the fourth-largest stablecoin in the world in roughly fifteen months, overtaking PayPal’s PYUSD and Sky’s DAI along the way. Its rise has been driven less by retail adoption than by a handful of enormous institutional deals — most notably a $2 billion settlement between Abu Dhabi-based MGX and Binance that was paid entirely in USD1 — and by the fact that the project sits inside a company co-founded by the Trump family. Here’s what USD1 actually is, how it works, and what to weigh before using it. Key Takeaways USD1 is a US dollar-pegged stablecoin issued by World Liberty Financial (WLFI) and custodied by BitGo Trust Company under a South Dakota trust charter Reserves consist of cash, short-term US Treasury bills, and government money market funds, verified through monthly AICPA-standard attestations and a l
