Binance’s liquid staking Ethereum TVL reaches $1.2 billion
DefiLlama data, Binance's total locked value (TVL) for Ethereum in their liquidity pool has reached $1.2 billion. In April of this year, Binance launched an upgraded version of BETH called WBETH, which is a liquidity staking derivative that allows investors to use tokens to lend and borrow on decentralized finance (DeFi) protocols outside of Binance, while also earning staking rewards. When users stake ETH by locking it in Binance, they receive derivative tokens that represent their staked assets. According to 21Shares' Dune dashboard, Binance has 1.2 million staked ETH, making them one of the largest participants in the Ethereum staking network, second only to Lido Finance and Coinbase.
Binance's Liquid Staking Ether Sees $500 Million Inflows, Total Locked Value Reaches $1.2 Billion
Over the weekend, Binance's liquid staking ether experienced a sudden influx of $500 million, bringing its total locked value to $1.2 billion. This was due to the minting of 318,180 wrapped Binance ETH derivative tokens, worth $502 million, in five $100 million installments. These tokens were then sent to a cold wallet labeled as "Binance 8". This movement was part of Binance's plan to gradually convert the original Binance-issued staked ether (BETH) tokens to WBETH, an upgraded version of BETH that allows investors to use the tokens for borrowing and lending on decentralized finance protocols.
Binance Japan and Mitsubishi UFJ Trust and Banking Corporation collaborate on developing stablecoins for Web3 adoption in Japan
Binance's Japan unit is collaborating with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to develop stablecoins that comply with local laws. The joint study aims to issue stablecoins pegged to sovereign currencies like the yen to drive Web3 adoption in Japan. The companies hope to start relevant operations by the end of next year, subject to regulatory approvals. MUTB's Progmat platform could help mitigate risks associated with stablecoins, and Binance Japan intends to use it to issue stablecoins on multiple blockchains.
Binance to Launch Stablecoins in Japan with Mitsubishi UFJ Financial Group's Trust Banking Arm
Despite its ongoing legal battle with the SEC, Binance is looking to expand its presence in the overseas market by partnering with Mitsubishi UFJ Financial Group to launch stablecoins denominated in USD, EUR, and Japanese Yen in Japan's growing crypto industry by 2024. Japan recently passed a law allowing licensed companies to issue stablecoins, with MUFG engaging in discussions with various entities about using its blockchain platform to create stablecoins linked to foreign currencies.
DWF Labs Withdrew Approximately 300,000 FRONT From Binance, and the Total Holdings Increased to 700,000
September 26th, Lookonchain monitoring shows that DWF Labs withdrew 299,092 FRONT coins (approximately $127,000) from Binance 4 hours ago and currently holds 699,192 FRONT coins (approximately $300,000).
Binance has reopened user registration and product access in Belgium
Binance announced on X platform that it has reopened registration and access in Belgium for users to use Binance's products and services. Previously in June, the Belgian market regulator, the Financial Services and Markets Authority (FSMA), ordered Binance to immediately stop providing services to local customers.
Upbit Transfers 10.802 Million IMX to Binance and Okx After IMX Dropped on September 21
According to 0xScopescan data monitoring, after the IMX fell on September 21st, Upbit transferred 10.802 million IMX ($4.8 million) to Binance and OKEx, and immediately after, the IMX fell by 24%.
A Certain Whale Has Transferred a Total of 4 Million FRONT to Binance, Worth Approximately US$1.4 Million
According to The Data Nerd's data monitoring, FRONT's price has tripled in the past month on September 25th, and a whale address starting with 0x861 has transferred 4 million FRONT coins (worth 1.4 million US dollars) to Binance.
The whale bought at a price of 0.19 US dollars. If sold now, the whale will make a profit of 600,000 US dollars, and the whale address still has 3 million FRONT coins (worth 1.27 million US dollars).
A Giant Whale Has Withdrawn a Total of 19.56 Million CRV From Binance in the Past Three Days
On September 25th, according to on-chain data, a whale address 0xDf14 withdrew approximately 10.29 million CRV (about 5.37 million US dollars) from Binance within 9 hours. In the past three days, the whale address has withdrawn a total of 19.56 million CRV (about 10.2 million US dollars) from Binance.
A Giant Whale Recently Bought 2.28 Million ARB, and the Average Cost Price May Be US$0.81
Based on the monitoring of on-chain analyst Yu Jin, a whale may have bought 2.28 million ARB tokens (worth $1.86 million) through FalconX since the price of ARB reached a new low. These 2.28 million ARB tokens were withdrawn from Binance to FalconX address on 9/14 and today (9/23), and then transferred to the address. The average cost price of the whale may be $0.81.
