Web3 Daily Report: Amber Group Withdraws 500K ARB from Binance; Bitcoin Dominance Hits Highest Since May 2021

Key Highlights

1. Suspected Amber Group address withdraws 500K ARB ($504K) from Binance.
2. Binance Labs invests in 5 projects from its Season 5 incubation program, spanning DeFi, infrastructure, and middleware.
3. KuCoin denies rumors: "Platform operates normally; user funds are secure."
4. Jeffrey Huang (Machi Big Brother): "ZachXBT's allegations are false; justice requires court adjudication."
5. NFT whale Franklin resumes trading after 2-month hiatus, spending 190 ETH on 9 NFTs.
6. Bitcoin dominance surges to 46.6%, highest since May 2021.

Project Updates

Binance Labs Backs 5 Incubation Projects

👉 Explore Binance Labs' latest investments
Selected projects:

• zkPass: MPC/ZKP-based decentralized identity verification.
• Mind Network: FHE-encrypted data lake for Web3.
• Kryptoskatt: Unified Web3 accounting/tax platform (supports 50+ blockchains).
• Bracket Labs: Leveraged structured products via BracketX.fi.
• DappOS: UX-focused operational protocol for Web3 apps.

KuCoin Addresses Investigation Rumors

KuCoin confirmed it exited China in 2021 and holds no domestic operations. All teams are overseas.

Binance Integrates Bitcoin Lightning Network

The exchange is enabling BTC deposits/withdrawals via Lightning Network, with technical upgrades ongoing.

SPACE ID Proposal: Buyback & Burn

Voting underway to allocate 50% of platform revenue (March–June) to ID token buybacks, with 99.76% approval.

Deutsche Bank Applies for Digital Asset License

The German giant seeks BaFin approval for crypto custody services, per Bloomberg.

Data & Metrics

Market Trends

• BTC dominance: 46.6% (CoinGecko).
• ETH dominance: 18.7%.
• Whale activity: Addresses holding 1K–10K BTC accumulated 131,600 BTC ($35B) since April.

Notable Transactions

• Amber Group withdrew 500K ARB ($504K) from Binance.
• Anonymous whale bridged 500 ETH to Arbitrum, bought 511K ARB ($1.02 avg).
• f2pool transferred 900 BTC ($24.1M) to Binance.
• Franklin spent 190 ETH on 4 BAYC, 3 MAYC, and 2 BAKC NFTs.

Security Alerts

• Mystic Stealer: New malware targeting 40 browsers/70 extensions (MetaMask, Coinbase Wallet, etc.).
• Atomic Wallet hack: North Korean hackers laundering funds via THORChain.
• Slingshot Twitter hacked: Fake airdrop links circulated by Pink Drainer.

Regulatory Developments

• Beijing court enforces digital RMB account seizure—a first for China.
• Japan considers raising crypto leverage limits to 4–10x (currently 2x).
• Sygnum Singapore gains MAS approval for crypto brokerage services.

FAQ

Q: Why is Bitcoin dominance rising?
A: Institutional demand and regulatory clarity favor BTC over altcoins, driving its market share.

Q: How does zkPass enhance Web3 security?
A: It combines MPC and ZKP for private, composable identity checks without exposing user data.

Q: What’s next for Binance’s Lightning Network integration?