BNB, the native currency of the Binance ecosystem, has dropped 6% in the past 24 hours, underperforming the broader cryptocurrency market and trailing Bitcoin, Ethereum, and others. The coin is now trading at $309, down 6% in the past 24 hours, and has broken below a critical support line visible in the BNBUSDT daily chart. Technical indicators, especially moving averages, are "bearish" within the last six to 24 hours. While BNB remains bullish for longer time frames, it might be negatively impacted in the days ahead as the US Commodity Futures Trading Commission is suing Binance and CEO Changpeng Zhao for violating trading laws and giving access to citizens.

Just before the US Commodity Futures Trading Commission (CFTC) accused Binance and its CEO Changpeng Zhao of regulatory violations, almost $1bn in crypto reportedly left the exchange's wallets. According to Thanefield Capital data research, $850m was withdrawn from Binance in the 12 hours preceding the indictment. Just one hour after the announcement, Binance saw an additional $240m withdrawn. However, Binance still holds $63.36bn worth of cryptocurrency assets, including over $2bn worth of USDT, $17bn worth of Bitcoin, and $8.1bn worth of Ether. Binance has been under investigation by the Internal Revenue Service and federal prosecutors, as well as the SEC, for various alleged violations.

The US Commodity Futures Trading Commission (CFTC) may require Binance to cease operations in the US as part of a potential settlement, according to a research report by Bernstein. The CFTC sued the crypto exchange and its founder Changpeng Zhao earlier this week for allowing US citizens to trade derivatives and for willful evasion of the country's laws. Binance.US makes up less than 5% of the exchange's global operations, and Bernstein expects that Binance will look to "safeguard its dominant international business" in Europe, Africa, and Australia. Bernstein doesn't expect this news to trigger a large selloff in the market, as the "regulatory narrative" has shifted from the US to expected Hong Kong and China flows.

Following the US Commodity Futures Trading Commission's (CFTC) lawsuit against Binance and CEO Changpeng Zhao, investors have reportedly pulled more than 3,400 Bitcoin from the exchange within 24 hours. This comes as investors have started spreading out their assets to minimize the impact of a potential shutdown. Binance's total Bitcoin balance has decreased by over 3,900 BTC over the past week, with 3,400 BTC withdrawn in the past 24 hours. Other exchanges, including Coinbase, Bitfinex, and Gemini, have seen an increase in BTC reserves during the same period. It's worth noting that Bitcoin balances on major exchanges have been decreasing since March 20, with nearly 27,000 BTC taken off exchanges in the past week.

Do Kwon will be held in Montenegro for a month on charges of using forged travel documents, according to local prosecutor Haris Shabotich.

XRP tokens rose 8% to just under 50 cents in Asian morning hours on Tuesday, reaching a five-month high. Some members of the community suggested that the classification of major tokens as a commodity in a US Commodity Futures Trading Commission (CFTC) filing against Binance could mean XRP tokens were commodities instead of a security, as alleged by the US Securities and Exchange Commission in the ongoing Ripple v. SEC case. Ripple has previously made the case for xrp tokens as a commodity. The CFTC filed against Binance, alleging that it offered unregistered crypto derivatives products and directed US customers to evade compliance controls through the use of VPNs.

The Commodity Futures Trading Commission (CFTC) has accused Binance of market manipulation, lack of compliance effort, and obstruction of investigative subpoenas, among other things, in a surprise lawsuit. The CFTC has labelled Bitcoin, Ethereum, Litecoin, Tether, and Binance USD as commodities, contradicting the SEC's argument that BUSD is an "unregistered security." The lawsuit also alleges that CEO Changpeng Zhao approved minor office expenses and paid for company services such as Amazon Web Services with his own personal credit card. The CFTC is seeking monetary penalties, injunctions, and disgorgement of any trading profits, salaries, commissions, loans, or fees gained from their wrongful actions. Binance has already rejected many of the allegations, hinting that a more in-depth response is incoming. A spokesperson from Binance has maintained that the exchange maintains country blocks for US citizens, regardless of where they live in the world. (Cointelegraph)

Binance clients withdrew over $772 million from the exchange in the past 24 hours following the Commodity Futures Trading Commission's (CFTC) lawsuit alleging that Binance had violated its derivatives regulations in the United States by offering these services without registering with it.

The US Commodities and Futures Trade Commission (CFTC) has filed charges against Binance, alleging that the leading crypto exchange went against regulations to serve US-based customers and that its executives engaged in wrongdoing. The CFTC highlighted Binance executives' use of the messaging application Signal, which allowed them to delete records of discussions of incriminating activity. The regulator also pointed to Binance's ties to illegal activity and the company's advice to customers on how to bypass its geofencing measures by using a virtual private network. Binance has denied many of the allegations and has only addressed employee trading on its platform. (cryptoslate)

The Commission will seek to prevent actors from obscuring regulated activity beneath a shroud created by a complex web of corporate entities.