Former Binance Executive Vladimir Smerkis Detained in Moscow Fraud Case

Vladimir Smerkis, a former executive at Binance, has been arrested in Moscow on fraud charges, as the Zamoskvoretsky District Court approved his detention earlier this week. While details of the alleged criminal activities remain undisclosed, the case emerges amid increasing regulatory scrutiny of tap-to-earn platforms in the cryptocurrency sector. Binance has publicly distanced itself from Smerkis, clarifying that he is no longer associated with the exchange. This development highlights the ongoing challenges and legal risks faced by crypto industry professionals, even as the broader market continues to evolve and mature.

Former Binance Executive Vladimir Smerkis Arrested in Moscow Amid Fraud Probe

Vladimir Smerkis, a former executive at Binance, has been detained by Moscow authorities on fraud charges. The Zamoskvoretsky District Court sanctioned his arrest earlier this week, though specifics of the alleged criminal activity remain undisclosed. The case coincides with heightened scrutiny of tap-to-earn platforms in the crypto sector.

Binance distanced itself from Smerkis in a public statement, emphasizing his departure from the company. The announcement reached 5.3 million followers on X, underscoring the exchange’s efforts to maintain transparency amid regulatory pressures.

Executive misconduct continues to rattle cryptocurrency markets. Industry observers note a troubling pattern of fraud cases involving crypto leaders, where personal ambition and institutional vulnerabilities intersect. These incidents amplify investor unease during a period of already fragile market sentiment.

Pi Network Ventures Launches $100M Fund to Boost Ecosystem Growth

Pi Network has unveiled its $100 million venture fund aimed at accelerating adoption and real-world utility of its ecosystem. The capital—held in both fiat and Pi tokens—will target startups that align with the network’s vision of scalable blockchain applications.

Market anticipation had surged after cryptic social media teasers, though hopes for an immediate Binance listing were unmet. The initiative signals PI Network’s strategic pivot toward long-term infrastructure development rather than exchange-driven liquidity events.

Spot Traders Drive BNB Accumulation Despite Futures Market Skepticism

Binance Coin’s muted 0.10% price gain belies a brewing divergence between spot and derivatives traders. Exchange net outflows hit $31.28 million this week as spot buyers aggressively accumulated BNB, while futures open interest declined—a classic bull-bear standoff.

Short sellers absorbed $102K in liquidations despite bearish positioning, suggesting underlying demand resilience. The token’s ability to hold ground amid conflicting signals points to accumulation by long-term holders rather than speculative plays.

Dormant PEPE Whale Withdraws 2 Trillion Tokens From Binance, Igniting Market Interest

A previously inactive Pepe whale has sparked renewed attention in the meme coin market after withdrawing over 2 trillion tokens from Binance. Blockchain analytics firm Lookonchain reported two major transactions totaling $29 million within a 24-hour period.

The first withdrawal on May 17 saw 1.79 trillion PEPE ($22.23 million) moved to a new wallet. This was followed by an additional 420 billion PEPE ($5.39 million) transfer the next day. The substantial movements have significantly reduced Binance’s PEPE reserves while driving up trading activity and price volatility.

Market observers note such large-scale withdrawals from exchanges typically signal accumulation strategies, often preceding price movements. The timing coincides with growing speculative interest in meme coins as Bitcoin’s consolidation pushes traders toward higher-risk assets.

Emerging Layer 1 BlockDAG Gains Attention Amid Crypto Rally

As the cryptocurrency market accelerates, investors are scouting for high-potential assets. Established projects like NEAR, BNB, and TRX continue to demonstrate bullish momentum, but BlockDAG—a new Layer 1 contender—is capturing significant interest.

Priced at $0.0020 during its presale with a slated launch at $0.05, BlockDAG has already completed a CertiK audit and sold thousands of miners. Its EVM-compatible architecture positions it for rapid adoption, with 15 exchange listings expected by June 13.

While NEAR and Binance Coin benefit from ecosystem expansion, BlockDAG’s low entry point and technical readiness could disrupt the hierarchy of Layer 1 projects. The presale’s $254.5 million milestone underscores growing institutional confidence.