hodler

7 Mar 2026, 16:06

Dubai Regulator Orders KuCoin and MEXC to Stop Crypto Activity

Dubai’s Virtual Assets Regulatory Authority issued cease and desist orders against two crypto exchanges after finding they were operating without approval. The regulator said the exchanges did not hold licenses required to offer virtual asset services in Dubai. The warnings targeted entities linked to KuCoin and MEXC. VARA stated that both exchanges must stop any activity related to virtual asset services in or from Dubai. The notices form part of the regulator’s broader effort to enforce licensing rules for crypto companies operating in the emirate. VARA Says KuCoin Entities Must Halt Unlicensed Services VARA identified several entities associated with KuCoin in its alert. These include Phoenixfin Pte Ltd, MEK Global Limited, Peken Global Limited, and KuCoin Exchange EU GmbH. According to the regulator, those entities may have provided services to Dubai residents without obtaining a license. VARA also said the firms may have presented information that suggested they were authorized to operate locally. As a result, the regulator ordered them to cease and desist from any virtual asset activities connected to Dubai. VARA stated that companies must secure regulatory approval before offering or promoting crypto services in the emirate. MEXC Entities Also Ordered to Cease Activity in Dubai VARA issued a separate alert for MEXC. The notice named MEXC Estonia OÜ and MEXC Global Ltd as the entities tied to the exchange. The regulator said those firms do not hold a license to provide virtual asset services in or from Dubai. Therefore, any services directed at Dubai residents would violate local regulatory rules. VARA also stated that any promotion, advertising, or solicitation connected to MEXC has not been approved. Consequently, the firms cannot market or provide crypto-related products or services within Dubai’s jurisdiction. Dubai Law Requires Licensing for Virtual Asset Services VARA cited Dubai Law No. 4 of 2022 and UAE Cabinet Resolution No. 111 of 2022 in the notices. Under these laws, virtual asset service providers must obtain authorization before operating in Dubai. The regulator explained that the licensing requirement applies to companies offering crypto services or targeting customers in the emirate. Firms must also receive approval before advertising virtual asset products or platforms. VARA added that enforcement actions such as cease and desist notices are part of its regulatory oversight. The regulator oversees crypto activities across Dubai’s mainland and free zones, excluding the Dubai International Financial Centre.

7 Mar 2026, 15:15

XRP Price Prediction as Ripple Secures Key UK License

Ripple has secured an Electronic Money Institution license in the United Kingdom. The company also received crypto-asset registration from the Financial Conduct Authority. Cassie Craddock shared the update on X and linked it to Ripple’s wider regulatory push. Craddock said the approval marks a new stage for digital asset firms in Europe. She wrote that the bridge between traditional finance and decentralized finance is now open. Ripple also holds an EU EMI license, which adds to its regulated reach. The company has spent the past year building deeper ties with financial firms. That effort included product launches and new partnerships in several markets. Ripple continues to treat the UK as a key region for long-term growth. The UK does not yet have a framework like the EU’s MiCA rules. Even so, Ripple has continued to build there and expand its services. The company sees regulated access as a route to broader adoption. XRP Price Prediction As Key Support Holds The regulatory update arrives as the XRP price trades near an important technical zone. Market watchers have focused on the $1.40 level in recent sessions. That area now acts as a near-term line for price direction. EGRAG Crypto’s long-term chart frames XRP within a broad bullish structure. The chart shows repeated pullbacks into rising support before a higher move. That pattern has appeared several times since 2018. According to the chart, XRP must hold above $1.40 on a monthly basis. A stable close above that level would keep the current setup in place. It would also keep focus on the next resistance bands. Source: X The chart identifies $2.70 as the next major breakout area for XRP. Above that, the $4.50 region becomes the key macro barrier. A clear move through that range would shift attention to higher targets. Supply Data Points to Lower Selling Pressure Recent on-chain data has added another layer to the XRP price outlook. CryptoQuant data showed XRP reserves on exchanges fell to $2.75 billion. That decline followed a reading near $2.77 billion a day earlier. Lower exchange reserves often suggest that holders are moving coins off trading platforms. That trend can reduce immediate selling pressure in the market. It can also support price stability during periods of weakness. At the same time, XRP pulled back after a recent rally. The token traded at about $1.35 at press time, down 5.07% over 24 hours. Even so, lower reserves kept traders focused on possible renewed demand. Ripple Product Growth Keeps XRP in Focus Ripple has also expanded its product base in recent months ahead of its potential US Trust Bank move. The company has upgraded the XRP Ledger and continued RLUSD stablecoin minting. Concurrently, it has also rolled out payment tools aimed at banking partners. Those products support Ripple’s push into tokenization and cross-border payments. The company has tied part of that effort to XRP’s use as a bridge asset. That link keeps XRP central to Ripple’s market narrative. In the United States, Ripple and its executives continue to support the CLARITY Act. A clearer legal framework could help digital asset firms plan new services. It could also support Ripple’s payment strategy across more markets.

7 Mar 2026, 15:02

Binance Formally Rejects US Senate Claims of Iran Sanctions Violations

The world’s largest crypto exchange has issued a formal response to a letter from US Senator Richard Blumenthal, strongly rejecting claims that its compliance systems are weak or that it enabled any sort of illicit financial activity. Binance indicated that the media reports cited in the Senate inquiry contain “false, unsupported, and defamatory claims” about its sanctions controls and AML procedures. Binance Responds The statement emphasized that Binance operates a robust compliance program supported by more than 1,500 specialists worldwide and advanced monitoring tools designed to detect suspicious activity. In addition, the company said it had been highly cooperative with law enforcement, adding that it processed over 71,000 such requests in 2025 alone. It explained that its team helped authorities seize more than $750 million in illicit assets, including almost $580 million for US agencies. Binance also claimed that its exposure to wallets linked to some sort of illegal activity has declined by nearly 97% since early 2024, which includes a 97.3% drop in exposure to major Iranian crypto trading platforms. Hexa Whale and Blessed Trust, two of the entities named in the inquiry, were proactively investigated and removed from the platform following internal reviews triggered by law enforcement requests. It added that no Binance account conducted direct transactions with Iran-based entities. It also rejected allegations about internal whistleblowers by explaining that employee departures were part of normal turnover. Nevertheless, the company also said it “acknowledges that absolute zero risk is impossible on public blockchains but relies on robust monitoring and controls to minimize and mitigate risks.” The Inquiry 11 Democratic senators, led by Richard Blumenthal, urged the DOJ and Treasury in a letter sent in late February to investigate Binance over alleged Iran sanction violations in 2026. The inquiry cited findings uncovered by the exchange’s own compliance personnel last year, in which they discovered that $1.7 billion in digital assets had flowed to Iranian-linked entities. Some of the names identified in the letter included Iran-backed Houthis and the Islamic Revolutionary Guard Corps. It also claims that a Binance vendor allegedly directed $1.2 billion in one instance to Iran-linked accounts. “We urge you to conduct a prompt, comprehensive review of sanctions compliance on the platform to ensure that it is not once again violating the law and threatening U.S. national security,” wrote the Senators. They added that Iranians had reportedly accessed more than 1,500 accounts on Binance, and further alleged that the exchange may have been used to help Russia evade US sanctions. The post Binance Formally Rejects US Senate Claims of Iran Sanctions Violations appeared first on CryptoPotato .

7 Mar 2026, 15:00

Big banks in top losers; Circle Internet, Coinbase, SoFi among gainers - week's financials wrap

More on Financials Goldman Sachs Remains A Stock To Hold, Despite Uncertainty In Markets (Downgrade) SoFi Is Ready For A New Leg Up (Rating Upgrade) Circle: A Defensible AI-Era Fintech With Explosive Stablecoin Growth (Rating Upgrade) Quant Ratings of BofA Securities' Growth Fund Holdings Quant Ratings of BofA Securities' Top Yield Fund Holdings

7 Mar 2026, 14:52

SEC Files Proposed Settlement to Drop Most Claims Against Justin Sun and Tron

The U.S. Securities and Exchange Commission moved to end its civil case against Justin Sun and the Tron entities on March 5, 2026, after filing a proposed settlement in federal court. Under the deal, Rainberry Inc. would pay a $10 million civil penalty, while the SEC would dismiss its remaining claims against Rainberry and all claims against Sun, Tron Foundation Limited, and BitTorrent Foundation Ltd., if the court approves the resolution. The SEC said the settlement covers its wash trading claim against Rainberry under Section 17(a)(3) of the Securities Act. The agency added that Rainberry would be permanently barred from violating that provision. At the same time, the regulator filed to dismiss a separate pending claim against DeAndre Cortez Way, known as Soulja Boy. The case began in March 2023 and later expanded through an amended complaint in April 2024. The SEC had accused Sun and his companies of illegally distributing Tronix and BitTorrent tokens, inflating trading activity, and hiding payments to celebrity promoters. Reuters reported that the regulator alleged Sun generated about $31 million through fraudulent trades. SEC narrows case to Rainberry wash trading claim In its March 5 litigation release, the SEC said Rainberry allegedly facilitated wash trading in 2018 and 2019 to inflate TRX trading volume. The agency described wash trading as transactions without a real change in beneficial ownership, which can create a false picture of market demand. The proposed judgment does not require Sun or the Tron entities to admit or deny wrongdoing on the settled claim. Reuters said the SEC confirmed that point in a letter to U.S. District Judge Edgardo Ramos in Manhattan. Court approval is still required before the settlement becomes final. This outcome sharply reduces a case that once targeted several parts of the Tron ecosystem. Instead of pursuing the broader complaint through trial, the SEC is now asking the court to approve a narrower resolution centered on Rainberry and then close the rest of the action with prejudice. Why the settlement matters now Reuters reported that the SEC paused the case in February 2025 to explore a possible resolution. The settlement now lands during a wider shift in U.S . crypto enforcement, as the agency has recently pulled back or reworked several digital asset cases filed in earlier years. Sun said on X that the SEC had moved to dismiss all claims against him, the Tron Foundation, and the BitTorrent Foundation, adding that the resolution brought closure. The SEC did not offer further public comment beyond its filing and litigation release. For Tron, the immediate result is legal relief, but the court still has the final word. Until Judge Ramos signs off, the $10 million settlement remains a proposed deal rather than a completed judgment.

7 Mar 2026, 14:25

Binance Proof of Reserves Reveals Alarming 8,004 BTC Drop in User Holdings

BitcoinWorld Binance Proof of Reserves Reveals Alarming 8,004 BTC Drop in User Holdings March 5, 2025 – Global cryptocurrency exchange Binance has published its 40th consecutive Proof of Reserves (PoR) report, revealing a notable contraction in user-held assets. The report, based on a March 1 snapshot, shows user Bitcoin (BTC) holdings fell by 8,004 BTC, a decrease representing 1.25% of the total. This decline in Binance’s Bitcoin reserves marks a significant shift from previous reporting periods and warrants a detailed examination of the underlying data and its potential implications for the broader digital asset market. Binance Proof of Reserves Report Details the Decline Binance’s latest Proof of Reserves report provides a verified snapshot of user assets held on the platform. According to the document, total user Bitcoin holdings stood at approximately 631,000 BTC on March 1. This figure represents a decrease of 8,004 BTC from the 639,004 BTC reported in the prior snapshot taken on February 1. The exchange’s Proof of Reserves system aims to provide transparency by cryptographically verifying that customer funds are fully backed. Furthermore, the report indicates similar downward trends for other major assets. User Ethereum (ETH) holdings experienced a more pronounced decline of 7.35%, falling by 307,203 ETH to a new total of roughly 3.87 million ETH. Meanwhile, holdings of the stablecoin Tether (USDT) decreased by about 360 million USDT, a 0.98% drop, bringing the total to approximately 36.4 billion USDT. These concurrent reductions across multiple asset classes suggest a broader pattern of net user withdrawals or asset reallocation. Analyzing the Context of the Reserve Fluctuations Fluctuations in exchange reserves are a normal function of market dynamics. However, the scale and consistency of the declines in this Binance report merit contextual analysis. Several factors could contribute to such a movement. For instance, users may be moving assets into self-custody wallets, a practice often referred to as ‘withdrawing to cold storage,’ in response to market sentiment or for long-term holding strategies. Alternatively, capital could be rotating to other trading platforms or into different financial instruments. It is crucial to distinguish between a decline in user holdings on an exchange and the solvency of the exchange itself. The Proof of Reserves report specifically audits the former. A transparent decrease in reserves, while notable, does not inherently indicate a problem if the exchange maintains a 1:1 backing for all remaining user funds. The report’s publication itself is a positive step for transparency, allowing the market to observe these flows in near real-time. Historical Trends and Market Impact To understand the significance of an 8,004 BTC withdrawal, we must view it historically. Binance’s Proof of Reserves reports have shown both increases and decreases in total holdings since their inception in late 2022. Periods of rising Bitcoin prices have often correlated with inflows to exchanges, while periods of uncertainty or consolidation have sometimes led to outflows. The current decline occurs amidst a specific macroeconomic and regulatory landscape that influences investor behavior. The impact of such a reserve change is multifaceted. Firstly, it reduces the immediate sell-side liquidity available on the Binance order book, which could contribute to increased volatility. Secondly, a large-scale movement of Bitcoin off exchanges is generally viewed by analysts as a bullish long-term signal, as it reduces the supply available for quick sale. The data provides a quantifiable insight into the behavior of a significant segment of the cryptocurrency holder base. Comparative Asset Movements and Stablecoin Dynamics The report reveals that the percentage decline in Ethereum reserves was substantially larger than that of Bitcoin. This 7.35% drop in ETH could reflect specific sector rotations. For example, users might be moving Ethereum to participate in staking on decentralized protocols or to interact with Layer-2 networks directly, actions that require withdrawing funds from a centralized exchange. The different rates of change between BTC and ETH highlight how asset-specific factors drive user decisions. The decrease in USDT holdings, though a smaller percentage, represents a massive nominal value of $360 million. Stablecoin reserves on exchanges are often seen as ‘dry powder’ ready to deploy into volatile assets. A reduction could signal that users are converting stablecoins to fiat currency or using them to purchase assets on other platforms. Monitoring stablecoin reserves is a key metric analysts use to gauge potential buying pressure in the crypto market. Bitcoin (BTC): -8,004 BTC (-1.25%) Ethereum (ETH): -307,203 ETH (-7.35%) Tether (USDT): -360M USDT (-0.98%) The Role of Proof of Reserves in Building Trust The very existence of regular Proof of Reserves reports represents an industry evolution toward greater accountability. Following several high-profile exchange failures, major platforms like Binance have adopted these audits to demonstrate they hold the assets they owe their customers. The process typically involves using cryptographic techniques like Merkle trees to prove holdings without compromising individual user privacy. While not a full financial audit, a PoR provides a vital, frequent verification of custodial responsibility. For the ecosystem, consistent reporting allows for trend analysis. Regulators, institutional investors, and retail users can track the health and custody practices of major entities over time. This Binance report, therefore, is not an isolated data point but part of a continuous transparency feed that contributes to market maturity. The ability to publicly observe an 8,004 BTC outflow is itself a testament to improved industry standards compared to the opaque past. Conclusion Binance’s 40th Proof of Reserves report provides clear, data-driven evidence of changing user asset allocation, marked by an 8,004 BTC decline in Bitcoin holdings. While the movement of funds off a major exchange is significant, it must be interpreted within the broader context of normal market cycles, evolving user custody preferences, and the positive transparency offered by the reporting mechanism itself. The concurrent drops in Ethereum and USDT reserves further illustrate a period of portfolio rebalancing among users. Ultimately, the publication of this detailed Binance Proof of Reserves data enhances market transparency, providing all participants with critical information to assess the landscape. FAQs Q1: What does a decline in Binance’s Proof of Reserves mean? A decline in the reported reserves indicates that users have withdrawn more cryptocurrency from the exchange than they have deposited during the reporting period. It is a measure of net user outflow, not necessarily a reflection of the exchange’s solvency, provided the remaining funds are fully backed. Q2: Is it bad if Bitcoin reserves on an exchange go down? Not inherently. Many long-term investors view large-scale withdrawals from exchanges as a bullish signal, as it reduces the immediate available supply for selling and suggests holders are moving assets to long-term storage. It reflects a preference for self-custody. Q3: How often does Binance publish its Proof of Reserves? Binance has committed to a monthly publication cycle for its Proof of Reserves reports. The latest report is the 40th edition, indicating this practice has been ongoing for several years. Q4: Does the Proof of Reserves report include all Binance user assets? The report typically covers major assets like Bitcoin (BTC), Ethereum (ETH), and key stablecoins like USDT. It may not include every single token listed on the platform, but it focuses on the largest by user holding volume. Q5: What is the difference between ‘user Bitcoin holdings’ and ‘exchange reserves’ in this context? In Binance’s report, ‘user Bitcoin holdings’ refers to the total BTC balance of all its customers held in the exchange’s custodial wallets. ‘Exchange reserves’ is a synonymous term for this aggregate amount. It is the total BTC the exchange is safeguarding for its users. This post Binance Proof of Reserves Reveals Alarming 8,004 BTC Drop in User Holdings first appeared on BitcoinWorld .