Binance, the world's largest cryptocurrency exchange, is under scrutiny following allegations that it confiscated Palestinian crypto funds at the request of the Israeli Defense Forces (IDF).
Ray Yousef, co-founder of Paxful and CEO of P2P platform Noones, claims that Binance confiscated these funds after receiving a directive from Israeli authorities.
Yousef’s claims are based on multiple sources, including a letter he claims was handed to Binance by Israeli authorities.
He stated:
Binance has seized all funds from all Palestinians at the request of the [Israel Defense Forces (IDF)]. They refuse to return the funds. All appeals have been rejected.
Yousef also suggested that this action could potentially extend to other regions, such as Lebanon and Syria. However, Binance has dismissed these claims, stating that only a small number of accounts linked to illegal activities are affected.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.