According to on-chain investigator ZachXBT, the cryptocurrency exchange BigONE allegedly processed over $60 million in funds linked to numerous pig butchering scams. ZachXBT highlighted a single Bitcoin deposit address, 16jAfbpfRzFvagiP5hzBPrYF9YhUhQuq9h, which he claims received these illicit funds late last year from scams like 'Define product' and 'bestbitex'. He noted that this significant activity was absent from a report issued by the exchange, raising critical questions for traders about the platform's compliance and security protocols. This allegation introduces significant counterparty risk for users holding assets on BigONE.

According to Eleanor Terrett, the SEC and Binance have filed a joint stipulation seeking dismissal of the ongoing litigation between the regulator and the exchange, as reported on May 29, 2025 (source: Eleanor Terrett on Twitter). This development signals a significant reduction in legal uncertainty around Binance, which has been a key risk factor affecting crypto market sentiment and trading volumes over the past year. Traders should monitor for increased exchange activity and potential price volatility in major cryptocurrencies, as the resolution of regulatory challenges often leads to renewed market confidence (source: Eleanor Terrett on Twitter).