Bitcoin inflows diverge across exchanges as selling pressure eases on Binance, while Coinbase shows more dominant activity. Bitcoin (BTC) mid-size wallet inflows to Binance fell to 3,000–4,000 BTC, marking a multi-year low in sell-side activity from this cohort. This coincides with Coinbase recording about 8,500 BTC in inflows from similar wallets on April 19, while other exchanges saw much smaller flows. Binance exchange Bitcoin inflows have also fallen to 2023 levels, but how is this significant to today’s market? CryptoQuant data classifies mid-size wallets as the entities holding roughly 100–1,000 BTC, often linked to active traders and smaller institutions. These wallets tend to move coins to the exchanges during distribution periods, making their inflows a useful proxy for near-term selling intent. Read more
Attorney General Letitia James alleged that Coinbase and Gemini ran unlicensed markets, adding pressure on crypto companies as states move to regulate event-based trading platforms. New York's attorney general has filed lawsuits against crypto exchange operators Coinbase Financial Markets and Gemini Titan for allegedly violating state gambling laws, according to court records cited by Reuters. Copies of the complaints show the state alleges both exchanges failed to obtain licenses from the New York State Gaming Commission to operate their markets, Reuters reported. “Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,” Attorney General Letitia James said in a statement. Read more
Nium integrates Coinbase’s infrastructure to enable USDC-based cross-border payments, allowing businesses to settle in fiat or stablecoins without relying on prefunded accounts. Singapore fintech Nium has selected Coinbase to integrate USDC payments into its global network to send, receive and convert stablecoins to fiat across more than 190 countries through a single platform. According to a Tuesday announcement, the integration uses Coinbase’s infrastructure for custody, liquidity and wallet services, enabling Nium’s customers to fund cross-border payouts in USDC and settle in either stablecoins or local currencies. Traditional cross-border payment systems often require companies to prefund accounts across multiple jurisdictions, tying up capital while transactions settle across time zones and banking networks, Santhosh Srinivasan, VP of Treasury at Nium, told Cointelegraph. Read more