A US federal judge dismissed a lawsuit accusing Binance, Changpeng Zhao and Binance.US of helping terrorist groups move crypto funds. Former Binance CEO Changpeng “CZ” Zhao said centralized crypto exchanges have “zero motive” to assist terrorists after a US court dismissed a lawsuit accusing the exchange of facilitating terrorist financing. In a post on X, Zhao argued that the economics of crypto trading make such activity illogical for exchanges. “There are absolutely zero (0) motive for any CEX to have anything to do with terrorists,” Zhao wrote, adding that such actors are unlikely to generate trading revenue and may only deposit funds briefly before withdrawing them. The comments followed a ruling by the US District Court for the Southern District of New York that dismissed claims brought by hundreds of victims and relatives of victims of terrorist attacks. The lawsuit alleged that Binance, Zhao and Binance.US operator BAM Trading Services helped terrorist groups move funds through cryptocurrency transact...
US lawmakers said any ban on issuing a US CBDC must “be permanent,” warning that creating one would be “inherently anti-American.” A group of US lawmakers is uniting to prevent the US central bank from ever issuing a Central Bank Digital Currency (CBDC), warning that proposed legislation only delays it until 2031. “We write to you to express the dire need to prohibit a Central Bank Digital Currency from ever happening in the United States,” US Congressman Michael Cloud wrote in a letter on Friday addressed to House Speaker Mike Johnson and US Senate majority leader John Thune, joined by 28 other members of Congress in support. It follows a proposed amendment to the Federal Reserve Act that would bar the US central bank from issuing a CBDC until 2031. The amendment is part of the 300-page “21st Century ROAD to Housing Act” (HR 6644), which was released on Monday by the Senate Committee on Banking, Housing, and Urban Affairs. Read more
On-chain analyst Willy Woo said Bitcoin’s current price range likely hasn’t bottomed yet, warning that the market could see further downside before a true cycle low forms. Bitcoin could experience a short-term rally that catches investors off guard before the broader downtrend resumes, according to on-chain analyst Willy Woo. “Bull trap forming,” Woo said in an X post on Saturday, referring to a fake breakout suggesting that the market is entering a sustained uptrend. He added that it may last “out to [the] end of April.” Woo said his outlook is based on liquidity conditions rather than price levels. “If capital comes back in force with the right type of long-term investors, then I'll happily change my views,” Woo said. Read more