New York Times: $280 Billion 'Dirty Money' Flowed Through Crypto Exchanges in Recent Years, With Binance as a Major Recipient
November 18th. The New York Times put out an article named "The $280 Billion 'Dirty Money' in the Cryptocurrency Industry." It was stated that during the past two years, at least $280 billion of funds directly associated with illegal activities have flowed into major cryptocurrency exchanges. This money originated from hackers, thieves, and ransomware extortionists and could be traced back to North Korean cybercriminals as well as fraudsters from Minnesota in the US and Myanmar. Among them, the world's largest exchange Binance is one of the main recipients of "dirty money." In May this year, it reached a $2 billion business deal with the Trump family's cryptocurrency company. At least 8 other well-known exchanges have also received these funds, including the rapidly growing OKX in the US.
The New York Times declared that its key findings are as follows:
Although Binance pleaded guilty in 2023, it still received more than $400 million in deposits from Cambodia's Huione Group, which th
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Russian Court Hears Landmark Case, Rules on Whether Individual Has Property Rights to USDT and Other Stablecoins
November 18th. As per DLNews, the Russian Constitutional Court is currently in the process of examining a crucial case with the aim of determining whether citizens possess property rights to USDT and other stablecoins. A number of regulatory experts have indicated that fiat-pegged stablecoins like USDT do not fall within the purview of "Digital Financial Assets" (DFA) as per Russian law and are not subject to the country's digital currency circulation regulations.
In this case, Dmitry Timchenko, a resident of Moscow, lent out 1000 USDT in 2023, but the other party refused to repay. His appeals to the district court, the appellate court, and the supreme court were all rejected, as the courts determined that stablecoins do not fall under the protected category of DFAs. Dmitry Timchenko then appealed to the Constitutional Court, arguing that "Russia does not have any other asset class facing such restrictions." The final ruling in this case is anticipated to be announced within a few wee
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Yesterday, the largest BTC short position was accurately liquidated, resulting in a $97 million loss, marking the largest single liquidation across the entire network.
According to HyperInsight (accessible via https://t.me/HyperInsight and monitored by Coinglass), at 22:00 yesterday, BTC witnessed a rapid surge of 2% and reached $96,100 within a span of 5 minutes. The largest BTC short whale on Hyperliquid, with a holding amount of over $120 million, was liquidated multiple times. The largest liquidation was approximately $96.51 million, which marked the largest single liquidation across the network.
At that time, the address had an average holding price of $95,270, and the liquidation price was around $96,000. Its short positions in XRP and ZEC were simultaneously liquidated, resulting in a total loss of approximately $2.97 million. The account value dropped from a high of $6.57 million yesterday to $1.47 million, and all funds were subsequently withdrawn.
In the past 9 hours, the address deposited around $1.7 million into Hyperliquid again. Then, it opened another 10x leverage ZEC short position with an average price of $666 and a liquidation pri
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Binance Will Delist XCN, FLM, PERP USDT-Margined Perpetual Contracts
On November 18th, Binance Futures will cease all U-? perpetual contracts for XCNUSDT, FLMUSDT, and PERPUSDT at 17:00 (UTC+8) on November 21st, 2025 and carry out automatic settlement. Once the settlement is finished, the contracts will be delisted.
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