🔥 BREAKING: Binance files to dismiss FTX’s $1.76B lawsuit, | FormulaCryptoUpdates on Binance Square

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🔥 BREAKING: Binance files to dismiss FTX’s $1.76B lawsuit, calling claims frivolous and arguing U.S. courts lack jurisdiction.
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Creation Of 10,000 Wallet By Pi Core Team Is For Security Reason I personally witnessed live, during 2020 and 2021, how the Pi Core Team’s 20 billion Pi coins was split into 10,000 smaller wallets, and then those wallets further transferred their holdings to another 10,000 wallets. I even captured screenshots of those events and shared in my youtube channel ( image below). The chart showing the creation of these wallets can be clearly verified through my annual migration data sheet. In other words, the fact that each of these 10,000 wallets contains around 2 million Pi was transparently visible on the Pi blockchain from the beginning, and it was never something they tried to hide or something. Although the exact reason why these wallets were divided this way isn’t officially confirmed, it’s quite easy to make reasonable assumptions. For example, even the founder of Ripple recently acknowledged being hacked and losing his XRP. Given that the early stages of Pi Network’s blockchain might not have been fully secure, the Core Team likely chose the safest strategy to protect their large assets by breaking them into smaller pieces. Also, as mentioned in the white paper, since the community was being allocated migrated coins, it would make sense for the Core Team to activate their own allocation in a similar proportion — perhaps for both technical and security reasons. Importantly, all these 10,000 wallets can be tracked transparently on sites like PiTracker, and over the past two months, there has been no movement. Even before that, the total coin movement was less than 10 million Pi. As stated in the white paper, since the community has now migrated more than 7 billion Pi out of the total 65 billion available to them, the Core Team would be entitled to more than 10% of their 20 billion allocation. So, even if they had sold off 2 billion of their own Pi coins, it would still be within what was expected and reasonable. - By an analyst on X Platform

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Four Powerful Upgrades Coming to XRP Ledger Dynamic NFTs on XRP Ledger are near approval, enabling post-mint updates with just one vote left. Multiple upgrades are underway, but debates grow over priorities like XChainBridge and restricted domain tools. The XRP Ledger is seeing significant changes, as there are currently four upgrades pending approval using the system’s process for amendments.

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Ripple Integrates XRP with UAE Banks for Cross-Border Payments Ripple Labs, Inc. has partnered with Zand Bank and Mamo in the UAE to incorporate XRP into their payment systems, aiming to streamline cross-border transactions. Ripple's partnership with UAE financial institutions seeks to eliminate inefficiencies in traditional payment methods, notably reducing fees and settlement times. Ripple has formed strategic partnerships with Zand Bank and Mamo, marking a milestone for XRP-driven payments. This move follows Ripple acquiring a license from the Dubai Financial Services Authority, enabling regulated cross-border transactions. These payments aim to be faster and more transparent. "Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs. Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business." — Reece Merrick, Managing Director, Middle East & Africa, Ripple The collaboration directly involves Ripple, Zand Bank, and Mamo, key players in the UAE's financial landscape. Ripple's blockchain-enabled solutions utilize XRP for rapid settlement and currency conversion. These agreements strengthen Ripple’s position in the Middle East financial market.

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DeFi Bitcoin Restaking Platform BounceBit Introduces Dual-Yield Strategy with BlackRock’s BUIDL BounceBit, a centralized Bitcoin restaking protocol that offers institutionalized DeFi investing products, today announced the launch of a new dual-yield strategy through a partnership with BlackRock’s BUIDL. BounceBit partnered with BlackRock’s Tokenized Fund, popularly known as BUIDL, to integrate BlackRock’s yield-bearing US Treasury bill into its platform. What is this dual-yield strategy? This dual-yield strategy is a Bitcoin derivative trading strategy powered by BlackRock’s income-generating tokenized money fund, BUIDL, to enhance profitability. The strategy, which is set to be introduced to retail and institutional investors, is made up of two key components: a short position in Bitcoin BTC put options and a Bitcoin basis trade that capitalizes on longing in the spot market and shorting in the futures market, both collateralized by BUIDL assets. As per the report, the basis trade generates an annual return of 4.7% while the put option produces an extra 15%. Together with the 4.25% yield from BUIDL utilized as collateral, the entire return is over 24%. According to a BounceBit representative, the move to integrate BUIDL is significantly beneficial as it helps produce greater gains than strategies collateralized by stablecoins. This strategy enables investors to capture both Treasury bill returns and Bitcoin derivatives yields.

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UK Mandates Crypto Reporting by 2026 Starting January 1, 2026, all cryptoasset service providers operating in the UK must report detailed data on users and transactions. This applies to both domestic and foreign firms. The move is part of the UK’s adoption of the Cryptoasset Reporting Framework (CARF). It is a global standard developed by the Organisation for Economic Co-operation and Development (OECD). It signals a major shift in how the government plans to monitor digital assets—more scrutiny, more structure, and hefty penalties for non-compliance. What Crypto Firms Need to Know Under the new rules, crypto platforms must identify every user and store their legal name, address, and tax identification number. This applies not only to UK-based users but also to those in any other CARF-participating country. Firms must also record transaction-level data, including the asset type, quantity, value, and nature of each trade or transfer. Even foreign exchanges serving UK clients won’t be off the hook. They, too, will be expected to comply or risk facing fines. And those fines are no joke. Incorrect or missing data could cost firms up to £300 per user. That adds up quickly for platforms serving tens of thousands—or even millions—of users.

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