BitcoinWorld El Salvador Bitcoin: Nation’s Holdings Steadily Rise with Astounding Growth El Salvador continues to solidify its position as a global leader in cryptocurrency adoption. The nation recently made headlines by adding another eight Bitcoin (BTC) to its reserves over the past week. This consistent accumulation underscores El Salvador’s unwavering commitment to its innovative El Salvador Bitcoin strategy, a move that has captured the attention of financial markets worldwide. El Salvador Bitcoin: A Pioneering Path to Digital Wealth The latest acquisition brings El Salvador’s total Bitcoin holdings to an impressive 6,227.18 BTC. This significant digital asset portfolio is currently valued at approximately $727 million, according to data from the National Bitcoin Office (ONBTC). This consistent growth is not by chance; it is a result of a deliberate and long-term investment strategy. Since November 18, 2022, El Salvador has maintained a unique approach: purchasing one Bitcoin every single day. This dollar-cost averaging strategy helps mitigate the impact of market volatility, allowing the nation to build its reserves steadily over time. Moreover, this disciplined accumulation reflects a strong belief in Bitcoin’s long-term value and its potential to reshape national economies. What Drives El Salvador’s Bitcoin Accumulation? El Salvador became the first country in the world to adopt Bitcoin as legal tender in September 2021. This bold decision was not merely about embracing a new technology; it was a strategic move aimed at fostering economic independence and financial inclusion for its citizens. The ongoing accumulation of El Salvador Bitcoin is a direct extension of this vision. The government believes that Bitcoin can offer a pathway to: Greater Financial Inclusion: Providing access to banking services for the unbanked population. Reduced Remittance Fees: Lowering costs for Salvadorans living abroad to send money home. Economic Sovereignty: Diversifying national reserves away from traditional fiat currencies. Attracting Foreign Investment: Positioning El Salvador as a hub for crypto innovation. Therefore, each daily purchase contributes to strengthening these core objectives. Benefits and Global Impact of El Salvador Bitcoin Strategy The world watches closely as El Salvador navigates its pioneering path. The benefits of its Bitcoin strategy extend beyond just accumulating digital assets. For instance, the country has seen a boost in tourism, with many crypto enthusiasts eager to experience a nation where Bitcoin is everyday currency. Furthermore, the increased liquidity and acceptance of Bitcoin within the country facilitate smoother cross-border transactions and stimulate local businesses. The National Bitcoin Office (ONBTC) plays a crucial role in managing these holdings and promoting the broader adoption of Bitcoin within the nation. They ensure transparency and provide updates on the country’s Bitcoin reserves, building trust and showcasing the potential of digital assets on a national scale. This proactive stance solidifies El Salvador’s reputation as a trailblazer in the digital economy, influencing discussions about crypto adoption globally. What Challenges Lie Ahead for El Salvador Bitcoin? While the journey has been largely positive, challenges remain. Bitcoin’s inherent price volatility can impact the value of the national holdings. Critics often point to these fluctuations as a risk factor. However, El Salvador’s long-term approach, exemplified by its consistent daily purchases, aims to weather these market swings. International bodies, such as the International Monetary Fund (IMF), have also expressed concerns regarding financial stability and regulatory frameworks, urging caution. Despite these challenges, El Salvador continues to push forward with ambitious plans. Projects like Bitcoin City, powered by geothermal energy, and the issuance of “Volcano Bonds” demonstrate a vision for a future deeply integrated with decentralized finance. The consistent growth in El Salvador Bitcoin reserves is a testament to this enduring commitment and strategic foresight. In conclusion, El Salvador’s steady accumulation of Bitcoin, including the recent addition of eight BTC, highlights its unwavering dedication to its groundbreaking economic model. By consistently investing in Bitcoin, the nation not only strengthens its digital reserves but also reinforces its position as a global pioneer in the cryptocurrency space. This ongoing journey provides valuable insights into the potential for national-level crypto adoption and economic transformation. Frequently Asked Questions (FAQs) How much Bitcoin does El Salvador currently own? El Salvador currently holds 6,227.18 Bitcoin (BTC) in its national reserves, valued at approximately $727 million, according to the National Bitcoin Office (ONBTC). Why did El Salvador adopt Bitcoin as legal tender? El Salvador adopted Bitcoin as legal tender to foster greater financial inclusion for its unbanked population, reduce remittance fees, promote economic sovereignty, and attract foreign investment in the crypto sector. What is El Salvador’s Bitcoin purchasing strategy? Since November 18, 2022, El Salvador has been consistently purchasing one Bitcoin (BTC) per day. This dollar-cost averaging strategy helps to build its reserves steadily and mitigate the impact of market volatility. Who manages El Salvador’s Bitcoin holdings? The National Bitcoin Office (ONBTC) is responsible for managing El Salvador’s Bitcoin holdings, ensuring transparency, and promoting the broader adoption and understanding of Bitcoin within the country. What are the benefits of El Salvador’s Bitcoin adoption? Benefits include enhanced financial inclusion, reduced remittance costs, increased economic sovereignty, a boost in crypto-related tourism, and positioning the country as a leader in digital asset innovation. Did you find this article insightful? Share your thoughts and this article on your social media platforms to spread awareness about El Salvador’s pioneering Bitcoin journey! To learn more about the latest explore our article on key developments shaping Bitcoin institutional adoption. This post El Salvador Bitcoin: Nation’s Holdings Steadily Rise with Astounding Growth first appeared on BitcoinWorld and is written by Editorial Team
VALR, Africa’s largest crypto exchange by trade volume, has announced a three-year partnership with DHL Stormers to become the South African rugby team’s official crypto exchange partner. VALR’s branding will feature prominently at DHL Stadium and on team kits, while the exchange will host a VIP suite for institutional clients. The partnership includes fan engagement
Cryptocurrencies surged late Friday after Federal Reserve President Jerome Powell struck a dovish tone at the Jackson Hole economic symposium, defying market expectations for a more hawkish stance. That has prompted asset managers to call for new all-time highs for bitcoin (BTC), ether (ETH) and select altcoins. What Powell said? In one of his most important speeches, Powell suggested that the labor market could benefit from lower borrowing costs, having held the benchmark interest rate steady at 4.25% for eight months. “Downside risks to employment are rising,” Powell said in prepared remarks for his keynote speech at the Jackson Hole Symposium, adding that the possibility of President Donald Trump’s tariffs having only a short-lived effect on inflation is “reasonable.” “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” he noted. Cryptocurrencies and stocks soared, and the probability of the September Fed rate cut jumped to 90% following the speech. Most analysts expect the momentum to continue in the days ahead. Analysts see new highs for BTC and ETH above $5K Analysts at Monarq Asset Management anticipate that ether's price will rise above $5,000 in the coming days. "We maintain our overall bullish stance. Market internals remain constructive, with few signs of overheating and, as you point out, a clear path to new all-time highs in both BTC and ETH," Sam Gaer, chief investment officer of Monarq Asset Management's Directional Fund, told CoinDesk. "Our house view is that Powell’s dovish pivot has cleared the way for $5,000+ in the near term (also not the hardest call to make). Demand from treasury vehicles should increase into the fall as many of the deals announced this summer close or de-SPAC, in addition to ongoing institutional and retail inflows," Gaer added. Ethereum's native token ether has already gained nearly 10% in 24 hours, hitting record highs above $4,800. As of writing, it changed hands at $4,700, according to CoinDesk data . Meanwhile, market leader bitcoin traded near $115,600, slightly down from the overnight high of $117,400. Data from Deribit-listed options shows that ether's rally has sparked renewed demand for upside bets, or call options. At press time, risk reversals were positive across all tenors, implying relative richness of calls. The sentiment wasn't so bullish in BTC options. Gaer stated that over-the-counter desks and market makers are experiencing stronger demand for ETH compared to BTC, suggesting that ether may outperform ahead. That said, BTC looked strong on its own too. "The BTC pullback from ATH was ~9.6%—far less than earlier drawdowns this year—indicating strong demand, as evidenced by whale wallet accumulation around the $113k level," Gaer said. Spencer Yang, managing partner at BlockSpaceForce, a crypto treasury advisory firm, said more rate cuts could happen after September, ensuring the momentum extends well into the year-end. "We’re now fully expecting rate cuts to happen in September. It will be the first cut since Trump became President this year. This is significant, and many more will come," Yang said, calling new highs in the crypto market. "The major 5 that we pay attention to: BTC, ETH, BNB, SOL, LINK. These will do well given the various parts of the crypto industry they impact," Yang added. Focus on ETF flows Steve Lee, co-founder and managing partner at Neoclassic Capital and investor in BlockTower Capital, called Powell's dovish turn a short-term constructive development for cryptocurrencies while stressing the importance of continued inflows into bitcoin and ether spot ETFs. "I see this as constructive in the short term, and it may help reverse this week’s sell-off. The key question is whether this momentum holds beyond the low-liquidity weekend. Since BTC and ETH price action is increasingly institutionally driven, spot ETF flows today and Monday will be a strong indicator of whether we are set for another leg higher," Lee told CoinDesk. Lee highlighted Base, Monad, Story, and SUI as key projects of interest that he is closely monitoring in his capacity as an early-stage venture capitalist. Gaer, meanwhile, favored Solana and the SOL ecosystem, including high-beta SOL tokens such as JITO and JUP. Raydium and PUMP on both a "fundamental and forward-demand basis." Potential headwinds While Powell’s dovish stance has set the stage for a rally, traders should remain cautious about potential pitfalls from corporate treasury cryptocurrency adoption and volatility in equity markets. "Digital asset treasuries (DAT) are an innovative vehicle for public market investors to gain exposure to the digital asset space. However, we have started to see the quality of DAT deals – from banking relationships, compliance, management team, and deal structure perspectives — dropping, which shows early signs of a 'bubble," Lee said. Naqsdaq-listed Strategy started this trend of corporate BTC adoption in 2020. Since then, more than 100 publicly-listed firms have accumulated a total of 984,971 BTC, according to data source Bitcoin Treasuries. "The trend may continue, but it is obvious that the risks associated with this are not ignorable," Lee added. Gaer called for closely tracking risks from an overheated equity market and "potential for macro or geopolitical shocks."
China Renaissance’s $100 million BNB investment is a strategic move to integrate BNB into a Hong Kong-listed firm’s digital asset portfolio, aiming to accelerate BNB Chain ecosystem growth, real‑world asset
COINOTAG News cites on-chain analyst Murphy, who observed that markets reacted ahead of Powell’s speech, nudging Bitcoin down to roughly $112,000 — a level that aligns with the reported average
Grayscale, a leading crypto asset manager, just filed a new Form S-1 with the U.S. Securities and Exchange Commission (SEC) on August 22, 2025, for its Grayscale XRP Trust. The filing was shared online by Abs Nassif, host of the Good Morning Crypto podcast, and confirms progress in Grayscale’s ongoing effort to secure approval for a spot XRP ETF. Grayscale was already among the firms with XRP applications under SEC review earlier this year. This latest filing formalizes registration of trust shares that would be offered to the public if regulators approve the product. BREAKING: Grayscale Files S-1 for Spot $XRP ETF! pic.twitter.com/YDr4UOaqNz — Good Morning Crypto (@AbsGMCrypto) August 22, 2025 The Regulatory Landscape In Recent Months July brought several important regulatory developments that shaped the environment for crypto ETFs. The SEC issued updated disclosure requirements for digital asset funds, clarifying standards around custody, valuation, and risk management. Shortly after, the Commission approved in-kind creations and redemptions for crypto exchange-traded products. This change enables funds to exchange underlying assets directly with authorized participants, improving efficiency and helping ETFs more closely track their spot markets. In parallel, the SEC granted and then stayed accelerated approval for a Bitwise multi-asset conversion. This brings more uncertainty and breaks its cautious approach to broader crypto exposure. The Future of Spot XRP ETFs The SEC recently extended review periods for multiple crypto ETF filings, pushing decisions into October . This included XRP products such as the 21Shares Core XRP Trust, which has to wait till the October 19 deadline. Other pending XRP proposals share similar dates, meaning the Commission could address several digital asset filings within the same month. These delays do not signal outcomes but give regulators more time to review disclosures, surveillance arrangements, and the operational details required under the new framework. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Implications of Approval If the SEC approves Grayscale’s XRP Trust or another spot XRP ETF, it would expand access to XRP across regulated markets. Approval would enable investors to gain exposure through brokerage platforms and retirement accounts, thereby opening the asset to institutional investors . The ETF format provides standardized structures, audited reporting, and clear custody arrangements. The adoption of in-kind creation and redemption further supports liquidity and enhances the correlation between fund shares and the spot market. Together, these features could encourage broader participation while integrating XRP more firmly into traditional investment channels. Grayscale’s filing has furthered the race for a U.S.-based spot XRP ETF, and with October quickly approaching, we might see these products launch soon. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Grayscale Takes Another Major Action for XRP appeared first on Times Tabloid .
Ethereum (ETH) is leading the end-of-the-week market recovery after finally breaking above the $4,800 resistance. As the cryptocurrency is attempting to reclaim this crucial area, some analysts suggest that a new all-time high (ATH) is imminent. Related Reading: Another Celebrity Scam? Kanye West Memecoin Launch Leaves 60% Of Investors In The Red Ethereum Hits New Multi-Year High On Friday, Ethereum broke above the $4,800 resistance for the first time since 2021, hitting a multi-year high of $4,834. The cryptocurrency has rallied over 14% over the past 24 hours, driven by Federal Reserve Chairman Jerome Powell’s annual address at Jackson Hole. In his speech, Powell signaled the possibility of an interest rate cut, affirming that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Following Powell’s remarks, the market soared, with Bitcoin (BTC) jumping from its local range low to the $117,000 area. Meanwhile, Ethereum initially climbed from the $4,200 support to reclaim the crucial $4,700 barrier. In a statement to CNBC, Jordi Alexander, CEO of crypto trading firm Selini Capital, suggested that crypto traders were caught completely offside by Powell’s dovish comments. “The market positioning in recent sessions has seen clear risk-off moves in assets like crypto and tech, and today’s setting up of a September rate cut is causing a panicked repositioning, which could continue through the illiquid weekend as shorts get squeezed,” he affirmed. Meanwhile, Joseph Chalom, Co-CEO of SharpLink Gaming, asserted that “the markets are loving Powell’s dovish speech. September rate cuts seem imminent. We’re at a pivotal moment in the market cycle.” ETH Ready For More? Notably, ETH has been consolidating between $3,762 support and $4,631 resistance since the early August breakout, retesting the $4,000-$4,100 mid-zone of this week’s pullback. On Friday afternoon, Ethereum continued its climb above the $4,800 resistance. This level was unsuccessfully tested last week, when the King of Altcoins hit a local high of $4,788 before being rejected. Analyst Crypto Jelle highlighted a one-week falling wedge pattern on ETH’s chart, which targeted a breakout to the $4,600-$4,800 area. Following today’s price jump, the analyst suggested that Ethereum is ready to target its all-time high of $4,878 after the breakout. Additionally, he noted that ETH already broke out of an 18-month bullish megaphone this month, which targets the $10,000 level. He explained that the cryptocurrency has successfully retested the key resistance level, around $4,000, during this week’s pullback and has “hardly any resistance left.” Related Reading: Chainlink Eyes Crucial Resistance After $25 Reclaim – Breakout Or Breakdown Next? Nonetheless, he warned that a pullback is likely to come following the massive pump but added that “the intent is clear. This market wants higher.” Similarly, Ted Pillows affirmed that volatility was expected after Powell’s speech, noting that it had happened in previous years. However, he suggested that a big ETH rally will follow, “just like the last time.” As of this writing, Ethereum is trading at $4,799, a 32.6% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Markets are swinging between macro pressure and bullish setups, but three names are cutting through the noise: XRP, Tron, and BlockDAG . XRP has clung tightly to its $3 support level despite inflation-driven volatility. Tron’s on-chain and futures metrics are signaling more room to climb, and BlockDAG has become the project many are watching for very different reasons. With $380 million raised in presale, a Batch 29 price of $0.0276, and a set of high-profile updates, BlockDAG is turning into a headline driver. Its Dashboard V4 is giving participants a live trading experience before official listings, sports partnerships are pushing the brand into global audiences, and the Ambassador Program is building grassroots momentum. Together, these moves make BlockDAG more than a presale story, it’s shaping into an ecosystem with both presence and engagement. XRP Holds Firm at $3 Support XRP has managed to keep its footing at the $3 support line despite broader market turbulence. Inflation data from the U.S. came in hotter than expected, with the Producer Price Index up 0.9% in July and 3.3% year-over-year, raising concerns that the Federal Reserve could delay expected rate cuts. This pressure rippled across markets, with Bitcoin and Ethereum slipping, and XRP sliding nearly 5% to $3.12. Around $62 million in long positions were liquidated during the move. Yet, volumes jumped 30% to $12 billion as participants defended the $3 mark. Analysts are now looking at $3.40 as a key resistance that, if broken, could unlock moves toward $4. The fundamentals are also supportive, with Ripple’s stablecoin RLUSD expected to enhance settlement demand. With regulatory uncertainty mostly cleared, long-term forecasts still point toward $4.50–$6 by 2025, with potential upside beyond the decade. Tron Metrics Show Upward Pressure Tron (TRX) is holding steady momentum, trading around $0.357 after notching a 5.48% gain over the week and nearly 19% over the month. While it saw a slight daily pullback, the Futures Volume Bubble Map suggests there’s still upside available, as activity is far from overheated. Analysts note that the last time metrics were in a similar position, TRX jumped from $0.26 to $0.45. Open Interest has eased from $340 million to $313 million, indicating weaker positions are closing out. However, the Funding Rate has been positive for four straight days, pointing to stronger longs holding steady. Spot demand also looks healthy, with the Spot vs Perp Premium climbing to 0.0014 and the RSI at 74, both signals of buying pressure. If demand continues, TRX could retest $0.37 and possibly hit $0.40. A failure to hold momentum could bring it back toward $0.33, but for now, the bias leans upward. BlockDAG’s Dashboard V4, Sports Deals, and Ambassador Push BlockDAG is standing out not through speculation but by delivering tools and building visibility. With over $380 million raised in presale and a Batch 29 price set at $0.0276, its progress is already impressive. But what’s truly setting it apart is Dashboard V4. This interface replicates the look and feel of a live crypto exchange, offering real-time BDAG charts, order book data, wallet balances, and referral tracking before any listings go live. This transparency is rare in presale projects and has helped build confidence in the ecosystem. Global exposure is also expanding through sports. Partnerships with the Seattle Seawolves in rugby and the Seattle Orcas in cricket have added visibility on the international stage. These collaborations come with NFTs, collectibles, fan coins, and interactive content, bridging crypto with entertainment and culture in ways that resonate with broad audiences. Alongside these moves, the BlockDAG Ambassador Program has gone live, mobilizing community leaders worldwide. Ambassadors are rewarded with incentives, access, and recognition for driving awareness and engagement. It’s a grassroots effort designed to amplify BlockDAG’s reach and strengthen community ties. Together, Dashboard V4, sports partnerships, and the Ambassador Program create a framework of delivery, credibility, and visibility. With presale progress already strong, these additions give BlockDAG the depth and traction to stand apart. Wrapping Up XRP is holding critical support while aiming for higher resistance, Tron is building momentum on strong trading metrics, and BlockDAG is rewriting what a presale can offer by delivering tools and building community ahead of launch. The combination of $380 million raised, Dashboard V4’s transparent trading environment, international sports alliances, and an engaged Ambassador Program signals more than hype; it signals progress backed by proof. XRP and Tron are showing their technical strength, but BlockDAG is showing what structured delivery looks like before day one on exchanges. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu The post BlockDAG’s Dashboard V4 Turns Heads as XRP Holds $3 and Tron Builds Momentum appeared first on TheCoinrise.com .
Analysts are now anticipating a bullish cycle, which will likely be the biggest in the history of crypto in 2025. Moreover, they have identified altcoins with institutional support that are likely to break out. This year’s best altcoins to buy already have some clear front-runners. Among them are Binance Coin (BNB), XRP, SEI, and fast-rising MAGACOIN FINANCE, which is a presale project. BNB Maintains Strength Near Yearly Highs BNB remained resilient today, presently trading at around $829 with a market cap of more than 120 billion dollars. Price action has been constant, where it hovers around its yearly high at $869. According to analysts, Binance is performing strongly because its exchange is dominant and continues to burn tokens while BNB is involved in DeFi and staking. Several investors think of BNB as a safe bet due in 2025 despite the volatility. XRP Consolidates With ETF Speculation XRP has stabilized around the $3 mark after weeks of regulatory delays over ETF approvals. The asset has proven resilient despite uncertainty, as over 93% of the circulating supply remains in profit. According to analysts, an XRP ETF approval could send prices back to its all-time high of $3.84. If institutional flows accelerate, it could also be $4.50. Traders looking for exposure to a primary settlement asset will find XRP a compelling option. MAGACOIN FINANCE Positioned as the Breakout Play BNB and XRP are established leaders, while SEI is gaining traction — but analysts say the real breakout lies in MAGACOIN FINANCE, still trading under $1. With forecasts of 55x upside and as much as 10,000% ROI potential, it’s being ranked among the best altcoins to buy in 2025. Early buyers are rushing to accumulate the token at the cheapest price, though supply is running out quickly. Analysts highlight that MAGACOIN FINANCE capped supply, verified audits, and whale-backed inflows give it the kind of fundamentals that fueled the earliest breakouts of BNB and XRP. If momentum continues at its current pace, MAGACOIN FINANCE could become one of the most talked-about altcoins of 2025. SEI Gains Momentum With Adoption SEI has emerged as one of the fastest-growing Layer 1 blockchains, recently surpassing 1 million daily active wallets and leading EVM-compatible chains in weekly activity. With strong traction in both DeFi and gaming sectors, analysts highlight SEI’s scalability and adoption curve as signals of long-term growth. Near-term volatility from token unlocks has not stopped whale accumulation, keeping SEI firmly on analyst watchlists for 2025. Conclusion: The 2025 Bull Market Leaders Institutional players are piling BNB and XRP in their wallets while SEI is fast catching on as a future blockchain leader. MAGACOIN FINANCE, on the other hand, has the greatest speculative upside according to analysts who predict exponential returns if momentum continues. For investors looking for stable yet high-growth opportunity, these four altcoins could be the best plays going into the 2025 bull market. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Access: https://magacoinfinance.com/access Twitter/X: https://x.com/magacoinfinance Telegram: https://t.me/magacoinfinance Continue Reading: BNB, XRP, MAGACOIN Finance & SEI — Analysts Rank These as the Best Altcoins to Buy in 2025
After navigating significant challenges in the United States regarding money laundering allegations that led to the resignation of its former CEO, Changpeng Zhao (CZ), cryptocurrency exchange Binance finds itself under scrutiny once again, this time in Australia. Binance’s AML And CTF Controls Under Fire The Australian Transaction Reports and Analysis Centre (AUSTRAC), the nation’s financial intelligence agency, has mandated that Binance’s local arm appoint an external auditor due to “serious concerns” about its anti-money laundering (AML) and counter-terrorism financing (CTF) controls. AUSTRAC’s concerns emerged following a recent independent review of Binance Australia’s operations, which the agency described as “limited in scope relative to its size, business offerings, and risks.” The agency highlighted alleged issues from the exchange such as high staff turnover, inadequate local resources, and insufficient oversight from senior management. In a statement, AUSTRAC emphasized the need for robust systems that align with local regulatory requirements , particularly given the global nature of the exchange’s operations. Brendan Thomas, AUSTRAC’s chief executive, stressed the importance of effective customer identification, due diligence, and transaction monitoring in a high-risk environment. Thomas stated: This is a global company operating across borders in a high-risk environment. We expect robust customer identification, due diligence and effective transaction monitoring. Global Regulatory Challenges Binance has been given a 28-day window to nominate external auditors to address these concerns. In response to the situation, Matt Poblocki, the general manager of Binance Australia and New Zealand, stated that the exchange has been engaging openly and transparently with AUSTRAC throughout recent months. The exchange’s executives reassured stakeholders and users in the country about the company’s commitment to maintaining high compliance standards and improving its capabilities. Founded in 2017, Binance has rapidly ascended to become the world’s largest cryptocurrency exchange by trading volume. However, its journey has not been without difficulties. After initially operating in China, Zhao moved the company’s operations internationally due to a crackdown on the crypto sector by Chinese authorities. Despite its growth, Binance has faced accusations in multiple countries of facilitating the laundering of funds for criminal organizations. Zhao pleaded guilty to violating US anti-money laundering laws in late 2023, resulting in a four-month prison sentence in 2024. However, Bitcoinist has reported that despite being banned from taking charge of the exchange, Zhao might be seeking a pardon from pro-crypto President Donald Trump. These legal challenges have compounded the scrutiny on Binance with the exchange taking a new direction with its new CEO Richard Teng as regulators worldwide increasingly focus on ensuring compliance. Despite recent scrutiny from Australia’s Transaction Reports and Analysis Centre, Binance’s native token, BNB, reached an all-time high of $882 on Friday. The cryptocurrency has consistently surged over the past month, even as the broader market struggled. Featured image from DALL-E, chart from TradingView.com