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A lawsuit in the U.S. accuses global crypto exchange Binance of knowingly enabling Hamas to move funds in the years before the militant group's attack on Israel that occurred on Oct. 7, 2023.
The lawsuit, filed in federal court in North Dakota on Monday, was brought by more than 300 victims and family members of the attack. The suit targets Binance along with co-founder Changpeng Zhao and senior executive Guangying Chen.
The complaint alleged that Binance "knowingly facilitated" illicit transactions for Hamas and other U.S.-designated Foreign Terrorist Organizations (FTOs) for years.
"For years, Defendants knowingly, willfully, and systematically assisted Hamas, the IRGC, Hezbollah, PIJ, and other terrorist groups to transfer and conceal the equivalent of hundreds of millions of U.S. dollars through the Binance platform in support of their terrorist activities," said the complaint.
"This assistance directly and materially contributed to the October 7 Attacks and to subsequent terrorist attacks perpetrated by Hamas, Hezbollah, and PIJ," the plaintiffs added.
Binance is currently facing several other similar lawsuits across the U.S. alleging the facilitation of crypto transactions tied to FTOs. A Binance spokesperson told The Block on Tuesday that it cannot comment on any ongoing litigation.
"However, as a global crypto exchange, we comply fully with internationally recognized sanctions laws, consistent with other financial institutions," the spokesperson said. "For context, the heads of the U.S. Treasury's FinCEN and OFAC have confirmed that cryptocurrency is not widely used by Hamas terrorists. Most importantly, we hope for lasting peace in the region."
Alleged Hamas-linked flows
The 284-page Monday complaint details how Binance allegedly enabled transactions linked to the militant groups.
It accused Binance of intentionally structuring its operations — including using offshore entities, omnibus wallets, and weak customer verification — to make it difficult to trace funds and identify FTO accounts. Some of these reportedly continued to operate even after Binance's 2023 settlement with U.S. authorities, according to the complaint.
Binance's legal troubles culminated in November 2023 when the company pleaded guilty to anti-money laundering and sanctions violations, agreeing to pay a $4.3 billion fine.
As part of the settlement, Changpeng Zhao also pleaded guilty in 2023 and resigned as chief executive. Zhao served a four-month prison sentence, was released last year, and received a pardon from President Donald Trump last month.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Monad (MON) airdrop has officially launched, but excitement quickly turned to frustration as users reported claim failures, bridge errors, and difficulty trading their tokens. While some early recipients successfully sold their allocations, many report that the official Monad tools are not functioning properly, forcing them to rely on third-party platforms.
One major wallet, 0x676a, which received 5.61 million MON ($184K), panic-sold 5.5 million MON for $131K USDC at $0.0239 below the public sale price of $0.025, highlighting the heavy selling pressure around the launch.
Lookonchain@lookonchainNov 25, 2025Airdrop wallet 0x676a, which received 5.61M $MON ($184K), panic-dumped 5.5M $MON for 131K $USDC at $0.0239 after $MON fell below its public sale price of $0.025.https://t.co/scEg2AaqXu pic.twitter.com/sieLHnXDfF
What Happened During the Monad Airdrop?
According to Monad, eligible users did not need to claim anything manually. Tokens were pre-assigned to wallets and automatically appeared on the mainnet once it went live. However, many users say their tokens either did not show up or could not be moved due to network errors.
This led to growing frustration and confusion, especially on Discord, where sentiment turned negative within hours of the launch.
Why Are Users Facing Claim and Bridging Problems?
The biggest issue reported is that the official Monad bridge appears unstable. Many users said their transactions failed or got stuck, preventing them from moving MON to other blockchains where liquidity is better.
Because of this, the community quickly shifted to Jumper Exchange, which became the most reliable option for bridging. Several users confirmed that Jumper successfully bridged their MON to Solana or Ethereum within minutes.
One user said they bridged 88,000 MON, sold it for $2,100, and saw the funds appear in their Solana wallet without issues.
How Can Users Claim Monad Airdrop Tokens?
Monad says the process is automatic:
If tokens are missing, users are trying simple fixes like refreshing RPC or switching wallet interfaces, but results vary widely.
How Can You Sell the Monad Airdrop Tokens?
Because the official bridge is unreliable, users are choosing Jumper Exchange as the current best option.
Select Monad as the source network
Choose MON as the token
Bridge to Solana or Ethereum
Swap the bridged tokens to USDC or another asset
Jupiter (Solana)
Orca (Solana)
Uniswap (Ethereum)
Hyperliquid (spot trading available)
Kuru Exchange
PancakeSwap (through routing support)
How Can You Buy MONAD Token?
Users can buy $MON in several ways:
1. Buy Using deBridge
deBridge supports Monad from launch. Users can:
No centralized exchange login is required.
2. Buy After Bridging to Solana or Ethereum
Once MONA is bridged, it can be traded across:
3. Buy on Hyperliquid
Hyperliquid lists MON with active spot trading.
Why Are So Many Users Selling Their Airdrop Tokens Immediately?
Many users are selling quickly for several reasons:
Airdrop cycles for other new chains also saw heavy early dumping, and many believe Monad is following a similar pattern.
What Is Driving MONAD Token Price Volatility?
MONAD’s price has been unstable mainly because many users are selling their tokens as soon as they receive them. Technical issues like bridge failures and missing tokens added more pressure, making people nervous about holding.
The broader market is also weak due to recent Bitcoin and Ethereum drops, so users are choosing to exit quickly. This combination of heavy supply and low confidence is keeping MON’s price under stress.
What Is the Outlook for Monad After the Airdrop Issues?
Monad’s technology is still respected, but the launch problems have shaken community trust. The project needs to fix the bridge issues, provide clearer updates, and restore user confidence. If the team responds quickly, MONAD’s price may stabilize. But for now, the token is likely to face continued selling pressure until the situation improves and the ecosystem becomes more active.
FAQs
What is Monad and why is its mainnet launch important?Monad is a new high-speed Layer-1 blockchain offering fast transactions, full EVM support, and major incentives that attract users and developers.
How to claim Monad airdrop tokens?Monad airdrop is fully automatic – no claim button needed. Just add the official Monad mainnet RPC to your wallet (MetaMask, Phantom, etc.), and eligible MON tokens appear instantly in your wallet. If nothing shows, switch to a fresh browser profile or try Rabby/Frame wallet – many users fixed it this way.
Why can’t I see or move my Monad airdrop tokens?Most issues are caused by outdated/custom RPCs or wallet caching. Use the official Monad RPC endpoints, clear wallet cache, or import your wallet into Rabby Wallet. Tokens are already in your wallet on Monad mainnet – they just aren’t displaying properly in some interfaces yet.
Why is everyone dumping Monad airdrop tokens so fast?Combination of launch confusion, official bridge repeatedly failing, missing tokens in some wallets, and the broader crypto market dip made many recipients panic-sell the moment they got liquidity via Jumper. Early whales (including one that sold 5.5M MON at $0.0239) added heavy selling pressure in the first hours.
Monad mainnet is officially live, giving users, developers, and traders access to a new high-speed Layer-1 blockchain. The network promises fast transactions, full EVM-compatibility, and a growing list of tools and platforms ready from day one.
Along with the launch, Monad is rolling out a large ecosystem incentive program and early opportunities that are already attracting strong community attention.
Monad (mainnet arc)@monadNov 24, 2025Monad Mainnet is now live!
Check it out here: https://t.co/emewXRKtNEhttps://t.co/emewXRKtNE
Monad Tokenomics
Monad’s token economics are structured to support long-term ecosystem expansion while rewarding early adopters, builders, and liquidity providers. The MON token has a fixed total supply designed to fuel network security, incentivize growth, and power on-chain activity across DeFi, gaming, NFTs, and infrastructure.
Total Supply : 1,000,000,000 MON (1 billion tokens)
Supply Distribution
| Category | Allocation | Purpose |
| Ecosystem & Incentives (Monad Momentum) | 30%+ | Rewards for users farming partner protocols, liquidity mining, trading incentives, and activity campaigns |
| Foundation & Development | ~25% | Funding for research, engineering, core protocol upgrades |
| Community & Airdrops | ~15% | Early user rewards, community activations, growth programs |
| Investors / Early Backers | ~15–20% | Strategic partners supporting infrastructure and early-stage development |
| Team & Advisors | ~10–12% | Vesting allocation for contributors building the ecosystem |
As part of the mainnet rollout, Monad introduced Monad Momentum, a major ecosystem growth program. More than 30% of the total MON token supply is reserved for building and expanding the network. The program will reward early users and developers through:
Monad has also released an ecosystem guide showing projects already building on the chain, with more expected to join throughout the Momentum phase.
$MON Token Exchange Listing
The MON token is available on several major centralized exchanges. Coinbase also held a token sale ahead of the mainnet launch.
Multiple exchanges are expected to enable direct MON withdrawals to the Monad network, allowing users to avoid early congestion on bridges. Liquidity on decentralized exchanges is also expected soon, though official details are still pending.
Wallets Supporting Monad
Because Monad works like the Ethereum Virtual Machine (EVM), users can quickly access the network using wallets they already know. Wallets currently supporting or preparing to support Monad include:
These wallets will allow users to send tokens, use dApps, and track balances on the new chain.
Bridging Options for Early Users
The official Monad Bridge will open shortly after the mainnet launch, but heavy traffic is expected in the early days, which may cause slower transaction times.
For users looking for an alternative, Mayan Finance has confirmed support for Monad and will offer extra MON incentives to those who bridge early.
This gives users two options at launch: wait for the official bridge to stabilize or use Mayan for a faster experience with added rewards.
FAQs
What is Monad and why is its mainnet launch important?Monad is a new high-speed Layer-1 blockchain offering fast transactions, full EVM support, and major incentives that attract users and developers.
What is Monad Momentum?Monad Momentum is a large ecosystem rewards program offering airdrops, bonus MON incentives, and early-stage opportunities for users and builders.
Where can I buy the MON token?You can buy MON on major centralized exchanges, with some platforms enabling direct withdrawals to the Monad network for easier access.
Which wallets support the Monad network?Rabby, MetaMask, and Backpack support Monad now, with Phantom expected soon, making it easy to send tokens and use dApps on the chain.
Cardano founder Charles Hoskinson is currently being mocked over an extremely pretentious comment, which has gone semi-viral on the X social media network.
In fact, its pretentiousness could rival Hoskinson's infamous Metamask tweet, which was even turned into a non-fungible token.
"You do understand what I do for a living?"
Recently, the crypto mogul suggested recording a video about the global financial system to explain how we are all "debt slaves."
A social media user then questioned Hoskinson's expertise, claiming that he would rather hear an actual economist.
Unsurprisingly, Hoskinson doubles down with a boastful claim, asserting that he is not just a developer but a revolutionary figure who has created decentralized central banks and “rebuilt Wall Street” on a blockchain.
The over-the-top self-aggrandizing statement has not been left unnoticed by the cryptocurrency community, and the reactions are… brutal.
People are pointing out that Cardano barely gets used outside of a few fans.
Marusha@maruushaeNov 24, 2025The wallstreet on a blockchain : https://t.co/haY5JwsMfD pic.twitter.com/bZPry8CWD6
Solana, a major Cardano competitor, jumped in with its own parody version.
Solana@solanaNov 24, 2025You do understand what I do for a living? I literally am a decentralized financial platform and rebuilt Wallstreet on a blockchain
One user even dubbed the Cardano founder as “generational talent for the messiah complex.”
The Metamask tweet
Some have also compared his latest social media post to the infamous "support email" tweet, which has become part of cryptocurrency lore. As reported by U.Today, the legendary tweet of the IOG CEO was even sold as an NFT back in 2022.
XRP price jumped nearly 10% today, pushing the price close to $2.30. Meanwhile, this rise came at a time when most top cryptocurrencies are still struggling to recover from last week’s drop.
So, what exactly pushed the XRP price up today?
XRP ETF Inflows Hit $85 Million:
The biggest driver behind today’s rally came from the newly launched spot XRP ETFs, which officially began trading on November 24, followed by other XRP ETF applicants Bitwise and Canary.
By the end of Monday’s trading session, the four XRP ETFs together recorded more than $85 million in volume, showing that both institutions and retail traders are taking XRP seriously as a long-term investment asset.
Whale Movement Signals Quiet Accumulation
Another factor fueling the rally is noticeable whale activity. On-chain trackers recently spotted two major transfers:
• A $33.6 million XRP transfer into Coinbase
• A massive $73.1 million transfer into a newly created wallet
Large Whales usually move like this when they expect bigger upside ahead. Their accumulation adds confidence and reduces selling pressure, giving XRP room to climb.
Global Recognition Strengthens XRP’s Position
Ripple’s growing global presence is another reason behind XRP’s recent price pump. Coinpedia news reported that SBI Group’s CEO confirmed that the company owns about 9% of Ripple, calling XRP a key bridge for cross-border money movement between the U.S. and Asia.
Even discussions within BRICS about advanced settlement systems align closely with XRP’s design.
This global acceptance gives traders a bigger picture: XRP is not just a token; it’s becoming a recognized cross-border payment tool.
XRP Price to Hit $3.5 Next
Now, XRP has finally bounced from the bottom of that wedge and is moving up again after breaking the key resistance level of $2.06. If this move continues, the next big step would be a breakout from the wedge, and in the past, this pattern has often led to strong rallies.
The analyst says that if the breakout is clean, XRP could rise quickly toward $3.50, which is marked as the most realistic target.
Another reason this target looks possible is the growing demand from ETFs. Right now, 6 XRP ETFs are already live, and 13 more are preparing to launch, meaning more money could flow into XRP in the coming weeks, boosting demand and price.
The founder of Berachain has thrown cold water on a recent report suggesting that one of its lead Series B backers was granted the right to be refunded $25 million, calling its framing both “incomplete” and “inaccurate.”
Unchained reported on Monday that Berachain gave Brevan Howard’s crypto-focused fund, Nova Digital, a one-year right to a refund on its $25 million investment in Berachain’s Series B round in April 2024.
Unchained also provided a side letter signed by Berachain general counsel Jonathan Ip and Nova director Carol Reynolds that said Nova can recoup “some or all” of its investment for “twelve months following” Berachain’s token generation event (TGE).
Berchain’s TGE, or token mint, took place on Feb. 6, meaning Nova could reportedly get a refund on its bet until Feb. 6, 2026.
Berachain founder: Brevan given the same terms as others
Smokey The Bera, Berachain’s anonymous founder, said on Monday that the report was “inaccurate and incomplete” and Brevan’s “investments involve several complex commercial agreements, but they participated in the Series B fundraise on the same paperwork as all investors.”
“Brevan Howard co-led our Series B a year ago, out of their Abu Dhabi office, via Nova, a new liquid-only vehicle on the same terms as all other investors. Nova had approached Berachain to lead the round some months prior to this,” said Smokey.
Nova agreed to additional arrangements, says Smokey
Smokey said that Nova asked for a provision “to guard for a scenario in which Berachain failed to TGE and get listed.”
They said if that happened, the locked Berachain (BERA) tokens Nova purchased would “not be an eligible investment via Nova’s liquid strategy.”
“Thus, we entered into the side letter posted in the article and committed Nova to additional commercial arrangements, including an agreement to provide liquidity on the network, which was only possible upon launch,” Smokey added.
They said the letter wasn’t made “to close the deal with a party who otherwise would not have been interested, or to prevent against post-launch losses,” adding it also “generally has precedent.”
Smokey also stressed that Nova is one of the largest tokenholders of Berachain and is a liquidity provider, holding both locked BERA acquired in the blockchain’s Series B and additional BERA it purchased on the open market.
“They have increased their BERA exposure over time, despite running a liquid fund in a harsh alt environment,” they added.
Smokey and the Berachain Foundation were contacted for comment via X. Brevan Howard did not respond to a request for comment outside of regular business hours.
The BERA token is down 93% from its peak of $14.83, which it reached when it launched in February, and is currently trading at $1.05, up 3.2% on the day, according to CoinGecko.
Trade Secrets: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds
Crypto-focused venture capital investment reached $4.65 billion in the third quarter, the second-highest amount of activity since crypto exchange FTX collapsed in late 2022 and decimated venture bets on crypto.
Galaxy Digital’s head of research, Alex Thorn, said in a report on Monday that Q3’s venture bets were a 290% quarter-on-quarter jump and the largest quarter since Q1, which saw $4.8 billion in investments.
The growing investment activity comes amid a lull period for crypto venture capital, which has largely pulled out of the industry following the uncovering of FTX’s massive fraud in November 2022, which collapsed the exchange into bankruptcy.
Small number of deals attracted most funding
Q3 saw 414 venture deals, with seven accounting for half of the capital raised over the quarter.
Those included financial technology company Revolut, which attracted $1 billion, crypto exchange Kraken with $500 million and crypto-focused US bank Erebor with $250 million.
Meanwhile, established companies, those founded in 2018, accounted for most of the capital raised, while companies founded in 2024 accounted for the highest number of deals.
“Pre-seed deal count as a percentage has trended down consistently as the overall industry has matured,” Thorn said.
VC capital stagnates as ETFs crypto treasuries take focus
Prior bull runs in 2017 and 2021 featured a high correlation between VC activity and liquid crypto asset prices, but Thorn said that for the last two years, activity has been more subdued while prices have risen.
“The venture stagnation is due to a number of factors, such as waning interest in previously hot crypto VC sectors like gaming, NFTs, and Web3; competition from AI startups for investment capital; and higher interest rates, which disincentivize venture allocators broadly,” he added.
Spot exchange-traded products (ETPs) and digital asset treasury companies (DATs) could be competing with investor interest in crypto.
High-profile investments in spot-based Bitcoin ETPs by large investors like pension funds and hedge funds suggest some “may be gaining exposure to the sector via these large, liquid vehicles rather than turning to early-stage VC investing,” Thorn said.
Related: VC Roundup: Crypto funding climbs to $13.6B in 2024, set to hit $18B in 2025
Macro trends also continue to present headwinds for allocators, but Thorn predicts shifts in the regulatory environment could bring a resurgence of allocator interest in the space.
US saw most crypto VC activity
During the quarter, 47% of the capital invested went to companies headquartered in the United States, compared to 28% in the United Kingdom and 3.8% in Singapore. The US also accounted for 40% of deals completed, followed by Singapore with 7.3%, and the UK with 6.8%.
Thorn said that despite a previously hostile regulatory environment, the US has historically accounted for the most deals and capital invested, and he expects that trend to continue under the crypto-friendly Trump Administration.
Magazine: Bitcoin $200K soon or 2029? Scott Bessent hangs at Bitcoin bar: Hodler’s Digest, Nov. 16 – 22
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