Major Developments
1. Binance Partners with BBVA for Off-Exchange Custody
Binance has entered into a strategic collaboration with Spain’s third-largest bank, BBVA, allowing customers to store assets off the exchange. BBVA will act as an independent custodian, holding customer funds in U.S. Treasuries—an arrangement designed to bolster investor confidence following heightened regulatory scrutiny.
2. $48.5 Million Settlement with New York Regulator
Paxos Trust, previously partnered with Binance, has agreed to a $48.5 million settlement with the New York Department of Financial Services (NYDFS). The dispute centers on allegations that Paxos failed to perform adequate AML due diligence regarding Binance. The settlement includes a $26.5 million fine and a $22 million commitment to improve compliance systems.
3. Binance “PROVE” Token Hits New All-Time High
Binance’s new token $PROVE surged to an all-time high, reaching $1.50. Notably, an on-chain whale accumulated 2 million PROVE tokens at around $1, currently showing an unrealized gain of $873,000.
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Flash Alerts from Binance Square
SOL (Solana) Price Alert: Analysts flagged SOL (SOLUSDT) as a buy opportunity. Wyckoff Accumulation completed, SOS (Sign of Strength) confirmed—indicators suggest the next upward wave may be imminent.
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Summary Table
Topic Update Highlights
Custody & Trust BBVA partnership to offer users off-exchange custody, enhancing protection.
Regulatory Compliance Paxos settles for $48.5M over AML failures tied to its past dealings with Binance.
New Token Momentum PROVE token records ATH as whale accumulation signals strong interest.
Market Insight Alerts SOL marked as a technical buy—momentum indicators are positive.
