Binance Australia Under AUSTRAC Scrutiny: AML Audit Ordered
Australia's financial intelligence agency, AUSTRAC, has intensified its oversight of Binance's Australian operations by ordering an independent audit of the exchange's anti-money laundering (AML) protocols. This move comes amid growing regulatory concerns about potential vulnerabilities in Binance Australia's compliance systems, which may expose the platform to financial crimes. The audit will focus on structural weaknesses in the exchange's oversight mechanisms, including reported issues with executive turnover and gaps in AML controls. This development marks another chapter in Binance's ongoing challenges with global regulators as the cryptocurrency industry faces increasing scrutiny worldwide.
Binance Australia Faces AUSTRAC Audit Over AML Deficiencies
Australia's financial intelligence unit has escalated scrutiny of Binance's local operations, mandating an independent audit of the exchange's anti-money laundering controls. The directive follows persistent concerns about the platform's compliance framework and its vulnerability to financial crime.
Regulators highlighted structural weaknesses in Binance Australia's oversight mechanisms, particularly noting rapid executive turnover and inadequate localization of global policies. Digital asset platforms face increasing pressure worldwide to demonstrate robust safeguards against illicit finance flows.
The enforcement action underscores the growing regulatory divergence in cryptocurrency markets, with national authorities demanding tailored compliance solutions rather than relying on exchanges' global standards. Australia joins several jurisdictions intensifying oversight of crypto intermediaries.
Ethereum Hits Record High Above $4,880 Amid Market-Wide Liquidations
Ethereum surged past $4,880 on August 22, marking its highest level since November 2021. The second-largest cryptocurrency traded at $4,744 at press time, according to TradingView data from Binance.
The rally triggered $769 million in crypto market liquidations, with Ethereum shorts accounting for half the losses at $388 million. A total of 183,695 traders faced liquidations, while Bitcoin-related positions saw $112 million wiped out.
Open interest for ethereum futures reached $33.2 billion as bullish momentum intensified. Analysts warn that a drop to $4,220 could trigger significant long position liquidations.
Bitcoin Price Prediction: BTC May Reach $240K on ETF Inflows Surge
Bitcoin could rally toward $240,000 if ETF inflows accelerate in Q1 2025, according to analyst projections. Institutional adoption via spot Bitcoin ETFs has already driven $51 billion in inflows this year, with a single-day record of $1.18 billion as prices breached $118,000. A $1.01 billion short squeeze further fueled the rally.
Market sensitivity remains high—$523 million in outflows earlier this week contrasted sharply with prior accumulation. Citi forecasts a $200,000 BTC price in a bullish scenario, while Binance-linked analysts suggest $240,000 is achievable if institutional demand persists.
Amid the ETF frenzy, utility-focused projects like Remittix (RTX) gain traction, reporting over 615 million tokens sold. The token’s real-world applications position it as a counterbalance to speculative ETF-driven momentum.
BNB Price Prediction Sparks Frenzy as Unilabs Finance Gains Traction
Binance Coin (BNB) surges 6.66% this week, trading NEAR $890 amid speculation of a $1,000 breakthrough. Institutional confidence grows as China Renaissance and YZi Labs commit $100 million to BNB, signaling strong market faith in Binance's ecosystem.
Technical indicators suggest a critical juncture: a break above $900 resistance could propel BNB toward $974-$1,000, while failure to hold $745 support may trigger a retreat to $684. The market watches these levels closely.
Meanwhile, Unilabs Finance emerges as a dark horse in DeFi, attracting attention with $30 million in assets under management. Its presale offers investors an alternative entry point amid questions about whether BNB's current valuation leaves room for exponential growth.
WLFI Coin’s Rapid Plunge Surprises Traders Amid Trump Election Momentum
WLFI Coin experienced a dramatic price drop following its perpetual listing on Binance, despite an initial surge to $0.55. The token quickly retreated to $0.22 as traders showed little buying interest, with $0.44 acting as a key resistance level.
Market sentiment turned bearish as early investors awaited the unlocking of 20% of tokens purchased at $0.015 and $0.05. The unlocking announcement, released yesterday, added selling pressure amid broader uncertainty linked to U.S. political developments.
Trump’s recent electoral momentum appears to have indirectly influenced crypto volatility, though WLFI’s decline was primarily driven by tokenomics. Binance’s spot listing, expected soon, could provide a catalyst for recovery—if demand materializes.
XRP Price Forecasts Diverge as Remittix Gains Traction in PayFi Sector
Analysts project XRP could reach between $2.50 and $5 by 2025, with Binance targeting $3.06. CryptoNinjas outlines scenarios ranging from conservative to optimistic, hinging on regulatory clarity and real-world adoption.
By 2026, projections turn more bullish. CoinDCX suggests an average near $3.81 with potential spikes to $4.98, while Flitpay models an aggressive $18 target—reflecting divergent assumptions about institutional uptake and policy developments.
Long-term 2030 estimates show even greater variance. CoinCentral forecasts $12–$20, with Flitpay's high-end scenario reaching $50. These projections assume sustained integration into payment systems, favorable macroeconomic conditions, and regulatory tailwinds.
Meanwhile, Remittix (RTX) emerges as a dark horse in the pay-fi space. The altcoin has sold 617 million tokens at $0.0969, raising $21 million ahead of its Q3 wallet beta launch. A $250,000 giveaway and expanded exchange listings could fuel further momentum.
