Defunct Japanese crypto exchange Mt. Gox made waves early Tuesday, moving large amounts of bitcoin (BTC) to two wallets, according to on-chain data tracking platform Arkham Intelligence.

The address associated with the exchange transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during Tuesday’s early Asian trading hours when the cryptocurrency traded above $87,000 in the spot market.

The latest action is the exchange’s third significant on-chain movement of funds in four weeks.

The exchange moved over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. However, the latest coin shuffling has not impacted the spot price so far, as seen early this month.

That’s in stark contrast to mid-last year, when Mt. Gox’s transfer of coins spurred fears of creditor liquidations, causing price volatility.

However, last October, the exchange extended its complete creditor payout deadline by a full year to Oct. 31, 2025, citing ongoing verification and processing requirements for claimants.

The Binance Wallet team said Tuesday in a post on X that it has suspended a staff member accused of using confidential information from their previous roles at BNB Chain to front-run a token launch.

The employee allegedly purchased coins via multiple wallets ahead of a Token Generation Event (TGE), later selling part of the holdings for quick profits.

«This behavior constitutes front-running based on non-public information obtained from his previous role and is a clear breach of company policy,» a statement from the Wallet team reads.

Binance’s investigation found no evidence that the Wallet team employees were involved in insider trading. The company said the information they used was based on data obtained while they were at BNB Chain, not on the Wallet team.

Binance said it will cooperate with relevant authorities to pursue appropriate legal action.

Binance’s suspension of this Wallet employee echoes Coinbase’s 2023 scandal involving former manager Ishan Wahi, who admitted leaking token-listing details with his brother and another contact.

Coinbase eventually got involved in the case to contest Securities and Exchange Commission charges that the tokens Wahi inside-traded on were securities.

Crypto observers were speculating on Monday that World Liberty Financial (WLFI), the decentralized finance (DeFi) platform backed by U.S. President Donald Trump and his family, might be testing its long-awaited dollar stablecoin before rolling out for the broader public.

Blockchain sleuths earlier today noted a flurry of activity with a token labeled as World Liberty Financial USD (USD1) on blockchain monitoring websites Etherscan and BscScan. Blockchain data shows that USD1 was deployed earlier this month on the Ethereum and BNB Chain networks and series of transactions with the token occurring over the past couple weeks.

Some transfers included addresses linked to Wintermute, a large digital asset trading firm and market maker, and crypto custodian BitGo, according to Arkham Intelligence data. The token’s supply currently stood at around 3.5 million-3.5 million on Ethereum and BNB Chain, per Etherscan and BscScan.

Changpeng CZ Zhao, founder of crypto exchange giant Binance, brought widespread attention to the token by «welcoming» the project on BNB Chain in a post with a screenshot of the USD1 BscScan profile shared with his 10 million followers. The post, he later said, triggered a wave of copy-cats aiming to capitalize on the new-found attention.

WLFI, reacting in a X post, said USD1 is not currently available for trading and crypto users should beware of scams.

Stablecoin buzz

WLFI, a project spearheaded by Zachary Folkman and Chase Herro, made a splash last year as one of the first crypto projects enjoying the backing of Trump. The protocol aims to provide a blockchain-based marketplace where users can borrow and lend cryptocurrencies, create liquidity pools and transact with stablecoins.

It’s been widely known that the project is working on crafting its own stablecoin, but there hasn’t been any official communication about exact plans and timing of launching the token publicly. CoinDesk has reached out to the team, but hasn’t received any replies.

Stablecoins are one of the fastest-growing corners of the crypto industry and widely regarded as the killer use case for blockchains. With their prices pegged to an external asset, predominantly to the U.S. dollar, they are widely used as a crypto trading pair and transactions on blockchain rails. They are also increasingly used for everyday payments, remittances and savings, attracting the attention of many venture capital investors.

Buzz around the asset class rejuvenated over the past months as the Trump administration elevated stablecoin regulation to the top of its crypto agenda. Treasury Secretary Scott Bessent said that stablecoins have a key role in preserving the U.S. dollar’s global role as a reserve currency.