Invest ideasNews
24 Feb 2026, 10:19
Binance disputes media claims over $1.7B Iran-linked transactions
Binance has rejected allegations that it retaliated against members of its internal investigations team after they flagged roughly $1.7 billion in cryptocurrency transfers linked to Iranian networks, pushing back on claims published by both The New York Times and The Wall Street Journal. The reports detail findings from a 2024 internal probe that traced funds moving through Binance accounts to wallets associated with Iranian entities, including those tied to the Islamic Revolutionary Guards Corps, a US-designated terrorist organisation. Investigators identified more than 1,500 accounts that had been accessed from Iran, in some cases through software designed to mask users’ locations. According to the New York Times, approximately $1.7 billion flowed from two Binance accounts to Iranian-linked entities over 2024 and 2025. One of the accounts was held by Blessed Trust, a Hong Kong-based payments firm that served as a fiat on- and off-ramp partner for the exchange. Internal documents reviewed by the publications indicate that investigators presented their findings to senior leadership, including CEO Richard Teng and Chief Compliance Officer Noah Perlman. Leung Ka Kui, a director at Blessed Trust, told the Times that the company did not knowingly facilitate transactions that breached sanctions or make payments to sanctioned Iranian entities. He said its work with Binance was limited to routine operational disbursements such as invoices and payroll. Blessed has maintained that it operates in accordance with applicable sanctions-screening and compliance standards. The Wall Street Journal reported that the investigation also identified another Hong Kong entity, Hexa Whale Trading, which allegedly transferred about $500 million in USDT to a network of digital wallets referred to internally as “Entity A.” Law enforcement officials cited in the Journal described that network as part of a shadow banking corridor linked to Iran’s Revolutionary Guard, used to facilitate payments related to sanctioned oil trade. Investigators concluded that the funds ultimately supported Iran-backed groups, including Yemen’s Houthi movement, according to documents cited in both reports. The Houthis have been designated by the United States as a terrorist organisation. A central point of contention concerns what happened after the findings were escalated. The Journal reported that executives dismantled the probe weeks after Binance founder Changpeng Zhao received a US presidential pardon in October, and that members of the investigative team were later dismissed. The Times said at least four investigators were suspended or fired, with the company citing alleged mishandling of confidential client data. Separately, Fortune has previously reported that several senior compliance officials have exited the company in recent months, including personnel involved in sanctions oversight, as Binance searches for a successor to Perlman, who is expected to depart later this year. Binance denies allegations In a statement to crypto media, a Binance spokesperson said the company “strongly disputes the assertions made in recent reports,” adding that its internal review did not find evidence of sanctions violations related to the transactions described. The spokesperson said Binance detected and reported suspicious activity to authorities and removed the accounts involved. The company also pointed to declining exposure metrics. In a recent post on X, Binance said it had reduced direct exposure to the four largest Iranian crypto exchanges by 97.3% between January 2024 and January 2026, from $4.19 million to $0.11 million. “Public blockchains are permissionless,” the exchange wrote, noting that exposure to sanctioned jurisdictions cannot be reduced to zero because anyone can send funds to an exchange address. Zhao, who stepped down as CEO following Binance’s 2023 settlement with US authorities, echoed that defence on X. “Some media uses negative narratives (from fired employees). Binance uses data. Best compliance program in the industry, by far!” Zhao wrote. The renewed scrutiny comes as Binance continues to operate under the terms of its 2023 plea agreement with the US Department of Justice. Binance admitted to anti-money-laundering and sanctions violations, agreed to pay $4.3 billion in penalties, and committed to enhanced compliance oversight, including cooperation with independent monitors. Subsequently, Zhao served four months in prison in 2024 before being pardoned by President Donald Trump last October. The post Binance disputes media claims over $1.7B Iran-linked transactions appeared first on Invezz
24 Feb 2026, 10:15
XRP faces drop below $1 as whales prepare to dump over 30 million tokens
XRP is likely to see further losses in the coming sessions as the asset’s whales signal potential selling pressure. In this regard, on-chain data indicates that more than 31 million XRP tokens flowed into Binance in a single day, with the surge driven almost entirely by large holders, according to CryptoQuant data shared on February 24. XRP Ledger exchange flows. Source: CryptoQuant The spike in exchange inflows suggests whales may be preparing to sell, increasing the risk of renewed downside pressure that could push XRP below the key $1 level. On February 21, XRP Ledger data showed deposits into the exchange exceeding 31 million XRP, driven almost entirely by wallets holding between 100,000 and 1 million XRP and over 1 million XRP. Retail participation was minimal, confirming the move was whale-led rather than broad-based. In the preceding days, inflows were relatively subdued. February 15 and 17 saw limited activity, while February 16 recorded a moderate increase, largely from 1 million-plus XRP holders, still far below the February 21 spike. Activity briefly rose on February 18 before easing again on February 19 and 20, when the price hit a short-term low. What’s next for XRP Historically, sharp whale inflows to exchanges have preceded volatility, as large transfers often signal intent to sell. If even part of the 31 million-plus XRP is offloaded, it could amplify selling pressure while the asset struggles to reclaim higher levels. This grim picture comes as XRP continues to trade in a volatile state, with recent losses tied to broader market sentiment led by Bitcoin ( BTC ). Despite the price pressure, positive developments persist, including Ripple’s planned 2026 XRPL upgrades to enhance tokenized assets and institutional features, alongside recent institutional products such as Japan’s SBI Holdings issuing blockchain-based bonds with XRP rewards. XRP price anaysis As of press time, XRP was trading at $1.33, well below both its 50-day SMA ($1.75) and 200-day SMA ($2.29). XRP seven-day price chart. Source: Finbold This positioning signals a clear bearish structure, considering that when price trades below the 50-day average, it reflects short- to medium-term weakness. Sitting beneath the 200-day average reinforces a longer-term downtrend. The wide gap between the current price and both moving averages suggests sustained selling pressure rather than a brief pullback. Meanwhile, the 14-day RSI stands at 36.85, which is in neutral territory but leaning toward oversold conditions. While it has not yet dipped below 30, it indicates weakening momentum and reduced buying strength. Featured image via Shutterstock The post XRP faces drop below $1 as whales prepare to dump over 30 million tokens appeared first on Finbold .
24 Feb 2026, 09:40
Binance Faces Scrutiny Over $1.7 Billion in Suspicious Iran-Linked Transactions
Binance denies new allegations of facilitating $1.7 billion in Iran-linked suspicious transactions. Internal audit reports and dismissals have thrown the company’s transparency into question. Continue Reading: Binance Faces Scrutiny Over $1.7 Billion in Suspicious Iran-Linked Transactions The post Binance Faces Scrutiny Over $1.7 Billion in Suspicious Iran-Linked Transactions appeared first on COINTURK NEWS .
24 Feb 2026, 09:40
Bitcoin Faces Turbulence: Binance Supply Hits November 2024 Highs
Bitcoin Supply on Binance Hits Highest Level Since November 2024: Market Implications Leading on-chain analytics firm Coin Bureau reports that Bitcoin reserves on Binance have surged to their highest level since November 2024. CryptoQuant data shows this spike reflects a major BTC inflow , signaling increased sell-side liquidity and potential market volatility. This development is significant because Bitcoin exchange balances often serve as a barometer of market sentiment. Large inflows to exchanges typically signal potential selling pressure, as holders look to secure profits or respond to short-term price swings. Conversely, declining balances suggest accumulation, with investors moving BTC to private wallets for long-term storage. Amid this development, “Bitcoin is dead” searches have surged to post-FTX highs, even as BTC holds key support amid $70M in liquidations and ongoing ETF outflows, highlighting a tense market poised between fear and resilience. According to CoinCodex data, Bitcoin is presently trading at $63,285, with rising exchange balances hinting at potential selling pressure as traders lock in gains. Historically, surges in exchange-held BTC often precede short-term pullbacks, though overall market trends may moderate the impact. Bitcoin Surge on Binance Signals Rising Sell-Side Liquidity Amid Potential Volatility The surge in Bitcoin supply on Binance hints at potential volatility but doesn’t guarantee an immediate drop because crypto markets remain sensitive to macroeconomic news, regulatory updates, and investor sentiment. Meanwhile, BTC recently slipped below the psychological price of $65K as over $360M in leveraged positions are liquidated, dragging ETH and SOL lower amid tariff tensions and sudden market sell-offs. Well, the recent surge of Bitcoin inflows highlights Binance’s pivotal role as a global crypto hub. As one of the largest exchanges by volume, any significant movement onto Binance can ripple across the market, affecting liquidity, spreads, and overall trading behavior. Bitcoin deposits on Binance have now reached levels not seen since November 2024, signaling that sell-side liquidity is entering the market. While short-term price action remains uncertain, monitoring exchange balances and market sentiment is crucial. Conclusion Bitcoin’s surge on Binance to its highest level since November 2024 highlights a sharp increase in sell-side liquidity. While not a guaranteed price reversal, it suggests traders are positioning for potential market moves. Monitoring exchange balances and on-chain metrics is key, as such flows often precede heightened volatility. Staying aware of these dynamics helps investors navigate short-term swings while preparing for broader trends.
24 Feb 2026, 09:35
Coinbase USDC revenue could 7x as payments grow, Bloomberg says
Bloomberg Intelligence says Coinbase’s USDC revenues could jump as much as sevenfold, as Congress weighs a ban on stablecoin rewards that could reshape how that money is earned.
24 Feb 2026, 09:20
EUR/HUF Exchange Rate: Critical Analysis of NBH Cutting Cycle Restart and Currency Impact – ING Insights
BitcoinWorld EUR/HUF Exchange Rate: Critical Analysis of NBH Cutting Cycle Restart and Currency Impact – ING Insights BUDAPEST, March 2025 – The Hungarian National Bank’s potential restart of its monetary easing cycle presents significant implications for the EUR/HUF exchange rate, according to recent analysis from ING Bank. Financial markets now closely monitor NBH signals as Hungary navigates post-inflation economic normalization. This development follows eighteen months of aggressive rate hikes that stabilized the forint but constrained economic growth. Consequently, currency traders anticipate volatility shifts as policy adjustments materialize. EUR/HUF Exchange Rate Dynamics and Historical Context The EUR/HUF currency pair represents one of Central Europe’s most actively traded forex instruments. Historically, the exchange rate demonstrates sensitivity to monetary policy divergences between the European Central Bank and the NBH. Over the past decade, the pair traded within a 350-400 range during stable periods. However, recent inflationary surges pushed the NBH to implement Europe’s highest policy rates at 13%. This aggressive stance temporarily strengthened the forint but created economic headwinds. Market analysts now observe changing conditions. Eurozone inflation approaches the ECB’s 2% target while Hungarian price growth shows sustained moderation. This convergence creates potential for policy synchronization. Furthermore, Hungary’s current account deficit narrowed significantly in late 2024. These improvements provide the NBH with operational flexibility. The central bank must balance currency stability against growth stimulation needs. NBH Monetary Policy Evolution and Cutting Cycle Framework The Hungarian National Bank initiated its current tightening cycle in June 2022. Policy rates increased from 1.60% to 13.00% within eighteen months. This represented the region’s most aggressive monetary response to inflation. The NBH maintained restrictive policy throughout 2024 despite early signs of economic contraction. Governor György Matolcsy repeatedly emphasized inflation control as the primary objective. Recent communications suggest a strategic pivot. The NBH’s December 2024 statement introduced conditional language regarding future rate decisions. Specifically, policymakers referenced “data-dependent approaches” and “gradual normalization.” These terms typically precede easing cycles. ING analysts identify three potential triggers for cuts: Inflation Convergence: Hungarian CPI approaching the 3% ±1% tolerance band Growth Concerns: Quarterly GDP contractions exceeding expectations External Stability: Sustained forint strength and reserve accumulation The table below illustrates recent NBH policy decisions: Date Policy Rate Change Primary Rationale Dec 2024 13.00% 0 bps Monitoring disinflation trend Oct 2024 13.00% 0 bps Inflation persistence risks Aug 2024 13.00% 0 bps Currency stability requirements Jun 2024 13.00% -25 bps First cautious cut attempt Currency Impact Analysis and Market Implications Monetary easing cycles typically exert downward pressure on domestic currencies. However, the EUR/HUF response depends on multiple factors. First, the pace and magnitude of cuts determine market reactions. Gradual reductions of 25-50 basis points per meeting might produce limited forint weakness. Conversely, aggressive cuts could trigger substantial depreciation. Second, forward guidance quality influences outcomes. Clear communication about the cycle’s endpoint helps anchor expectations. Third, external factors remain crucial. The ECB’s own policy trajectory creates relative dynamics. Currently, the Eurozone maintains higher rates than pre-2022 levels. This differential provides some protection for the forint. Additionally, regional risk sentiment affects all Central European currencies simultaneously. Finally, technical factors like positioning and liquidity conditions amplify moves during policy transitions. ING’s Analytical Perspective and Forecast Scenarios ING Bank’s research division published detailed analysis in February 2025. Their economists identify two probable scenarios for the EUR/HUF pair. The baseline scenario assumes a measured cutting cycle beginning in Q2 2025. This approach would involve 25 basis point reductions at alternating meetings. Consequently, the policy rate reaches 10.00% by year-end. Under these conditions, ING projects EUR/HUF trading between 385 and 400. The alternative scenario involves delayed easing. Persistent services inflation or geopolitical tensions might postpone cuts until Q3 2025. This delay would maintain higher carry trade attractiveness. Therefore, the forint could appreciate toward 375 against the euro initially. However, subsequent cuts would then generate more pronounced weakness. ING emphasizes that both scenarios assume no major external shocks. Historical comparisons provide additional context. Previous NBH easing cycles in 2016 and 2020 produced different outcomes. The 2016 cycle coincided with global risk-on sentiment, limiting forint depreciation. Conversely, the 2020 pandemic-era cuts occurred during market stress, amplifying currency weakness. Current conditions resemble 2016 more than 2020, suggesting contained impact. Economic Background and Structural Considerations Hungary’s economy displays unique characteristics influencing monetary policy effectiveness. The country maintains high foreign currency debt levels, particularly in Swiss francs and euros. This structure creates exchange rate sensitivity for both households and corporations. Additionally, Hungary operates within the European Union but outside the Eurozone. This position allows independent policy but requires careful currency management. Several structural factors support forint stability despite easing prospects. First, foreign direct investment continues flowing into automotive and battery manufacturing sectors. Second, EU fund disbursements resumed following rule-of-law concerns resolution. Third, tourism revenue reached record levels in 2024. These inflows provide fundamental support. Moreover, the NBH maintains substantial foreign exchange reserves exceeding €40 billion. Inflation dynamics warrant particular attention. Hungarian CPI peaked at 25.7% in January 2023 before declining steadily. The rate reached 5.2% by December 2024, approaching the upper tolerance band. Core inflation metrics show slower improvement, especially in services. This stickiness might constrain the cutting cycle’s pace. Additionally, wage growth remains elevated around 12-14% annually, creating potential second-round effects. Conclusion The EUR/HUF exchange rate faces a pivotal period as the NBH contemplates restarting its cutting cycle. Monetary policy normalization represents a delicate balancing act for Hungarian authorities. Market reactions will depend on implementation pace, communication clarity, and external conditions. ING’s analysis provides valuable frameworks for understanding potential outcomes. Ultimately, Hungary’s strong fundamentals and EU integration should contain excessive volatility. Nevertheless, traders must prepare for increased EUR/HUF fluctuations during this policy transition. FAQs Q1: What triggers the NBH to restart its cutting cycle? The NBH typically considers cutting rates when inflation approaches its target band, economic growth shows significant slowing, and currency stability appears sustainable. Recent data shows Hungarian CPI falling toward 5%, creating conditions for potential easing. Q2: How does the EUR/HUF exchange rate typically react to NBH rate cuts? Historical patterns show the forint generally weakens against the euro during easing cycles, but the magnitude depends on cut size, pace, and global market conditions. Gradual cuts often produce limited depreciation if well-communicated. Q3: What differentiates Hungary’s current situation from previous cutting cycles? Current conditions feature higher initial interest rates, better EU fund access, stronger FDI inflows, and more anchored inflation expectations than previous cycles. These factors may support the forint despite policy easing. Q4: How does ECB policy affect the EUR/HUF exchange rate during NBH easing? The ECB’s own policy trajectory creates relative interest rate differentials. If the ECB cuts rates simultaneously or before the NBH, the forint might experience less pressure. Divergent policies typically amplify exchange rate moves. Q5: What risks could alter the projected EUR/HUF trajectory? Geopolitical tensions, unexpected inflation rebounds, sudden risk-off sentiment in global markets, or faster-than-expected ECB easing could all significantly impact the EUR/HUF exchange rate beyond current projections. This post EUR/HUF Exchange Rate: Critical Analysis of NBH Cutting Cycle Restart and Currency Impact – ING Insights first appeared on BitcoinWorld .
