According to the latest filing in the Harper Vs IRS case, the US government argued that the individual has no right to block the IRS from accessing his crypto records. While the user alleged that the IRS unlawfully accessed his private financial information, the government is urging the Supreme Court to rule in favor of the IRS. US Government Sides with IRS in Coinbase User’s Privacy Case US Solicitor General D. John Sauer argued in a May 30 filing that James Harper, a Coinbase user, lacks Fourth Amendment protection for his financial records stored with the exchange. The government claims Harper voluntarily shared his data with Coinbase, and the IRS followed proper procedures, like judicially approved summons, to obtain it. The filing also referenced Coinbase’s own privacy policy, which notified users that their information might be disclosed to law enforcement agencies. “The IRS may ‘examine any books, papers, records, or… Read More at Coingape.com
Binance founder Changpeng Zhao (CZ) is stirring up the Layer-1 battlefield and this could really tip the balance.
CZ has proposed slashing BNB Chain gas fees by up to 10x, and that’s no small tweak. It’s a direct challenge to Ethereum’s costly transactions and Solana’s ultra-cheap speed.
With Binance Smart Chain (BSC) already handling billions of transactions daily, this potential fee cut could supercharge its position in the DeFi race – threatening to outpace blockchain heavyweights Vitalik Buterin’s Ethereum and Anatoly Yakovenko’s Solana.
Binance Moves to Crush Gas Fees – and the Competition
High gas fees have long haunted the crypto space, especially on Ethereum, where the average cost hovers around $0.42. Solana has gained traction with lightning-fast speeds and near-zero costs, but Binance isn’t sitting still.
Now, CZ is looking to undercut both by pushing BNB Chain’s already-low gas fees even further down. The network currently boasts a median gas price of just 1 Gwei (around $0.01 per transaction). In the last 24 hours alone, BNB Chain processed over 7.2 billion transactions at an average fee of $0.0945 – already a bargain by blockchain standards.
“Affordability is key to blockchain’s future,” CZ shared on X. “We’re lowering BNB fees to empower developers and users, outpacing Ethereum and Solana.”
Why This Could Be a Game-Changer for BNB Chain
Let’s just be clear. This is a calculated strategy to reposition BNB Chain as the sweet spot between Ethereum’s network strength and Solana’s affordability.
Lower fees could drive a new wave of developers to the BNB ecosystem, lured by high throughput, cost efficiency, and growing momentum. From DeFi and NFTs to blockchain gaming, the use cases are massive and Binance is setting the stage to become the go-to platform for them all.
However, going too far could backfire. Zero or near-zero fees might invite spam and overload the infrastructure, putting pressure on validators.
The challenge? Slashing fees without compromising network security or developer incentives.
Is This the Beginning of a New Blockchain Power Shift?
What strategic timing! As Ethereum continues to battle scalability issues and Solana works to maintain its reliability, Binance is seizing the moment to strike with what could be the most cost-effective Layer-1 option on the market.
This fee slash proposal – though not officially confirmed yet – signals Binance’s renewed ambition to lead the L1 race. If implemented smartly, it could tilt user and developer sentiment in BNB Chain’s favor in a big way.
What way will it finally go? We, at Coinpedia, will keep you updated.
The post Changpeng Zhao May Slash BNB Chain Gas Fees by 10x; Rivals Solana, Ethereum At Risk? appeared first on Coinpedia Fintech News
Binance founder Changpeng Zhao (CZ) is stirring up the Layer-1 battlefield and this could really tip the balance. CZ has proposed slashing BNB Chain gas fees by up to 10x, and that’s no small tweak. It’s a direct challenge to Ethereum’s costly transactions and Solana’s ultra-cheap speed. With Binance Smart Chain (BSC) already handling billions …
Canary Capital CEO has forecasted that the XRP ETF could outperform both the ETH ETF and the SOL ETF products. This follows speculations of an XRP ETF being approved in the coming days. Will XRP ETF Outperform ETH and SOL ETF? In a recent interview shared by Paul Barron, the CEO of Canary Capital, Steven
The US crypto market just got its clearest green light yet. On July 18, the GENIUS Act, America’s first-ever stablecoin regulation, officially became law, signed by President Trump after passing both the House and Senate. Alongside it, the CLARITY Act, which aims to split crypto regulatory duties between the SEC and CFTC, cleared the House and now heads to the Senate.
These back-to-back legislative wins mark the most significant regulatory momentum in years. As markets responded, whale wallets rotated capital into tokens synced with hype cycles, infrastructure, and meme-driven narratives. On-chain data shows three altcoins gaining attention.
Lido DAO (LDO)
Lido DAO has seen a strong wave of accumulation this week, with whale holdings up 40.38%, increasing to 18.68 million LDO, worth approximately $23.17 million at the current price of $1.24. This uptick in large wallet activity comes alongside LDO attempting a breakout past recent resistance levels.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Exchange balances dropped by 4.27% to 282.7 million LDO, suggesting continued outflows as tokens move into self-custody. Moreover, the top 100 holders now control 828.85 million tokens, up 0.53%, showing growing dominance and tighter supply concentration.
Also, Lido’s distribution score remains low at 8, reinforcing the insider-heavy nature of its supply base. At the same time, smart money dipped 6.64%, likely due to profit-taking on earlier entries. Not surprising as LDO has charted gains worth 41%+ week-on-week.
With the GENIUS Act passing in the US House, staking-focused assets like Lido may be gaining favor among whales anticipating regulatory green lights. As Ethereum staking grows more legitimized, protocols like Lido appear well-positioned for renewed institutional interest.
FLOKI (FLOKI)
FLOKI has caught strong crypto whale attention this week, with large holders increasing their positions by 4.63%, pushing whale holdings to 27.24 billion FLOKI. At the current price of $0.00013974, that equals around $176,000 in fresh whale inflows over the past 7 days. The uptick aligns with Floki’s 100% month-on-month rally, hinting that whales may be front-running further upside.
The top 100 addresses now hold 8.95 trillion tokens, up 0.35%, suggesting steady accumulation at the top end. Despite the climb, the distribution score remains at 9, indicating a somewhat centralized but expanding holder base. Exchange balances have dropped 1.3% to 2.13 trillion, signaling mild outflows and a potential supply crunch forming on centralized platforms.
Backed by meme coin momentum and community-driven speculation, FLOKI is emerging as a standout in the post-GENIUS Act buzz, especially as US regulatory clarity injects confidence into risk-on tokens. This confidence stems from the fact that traders can rotate stablecoins into riskier plays without worrying about the ground shifting under them.
Book of Meme (BOME)
BOME, the Solana-based meme coin, is up 31% over the past 7 days and 70% month-on-month, riding the meme coin resurgence fueled by US retail optimism post-GENIUS Act. Crypto whale holdings have climbed to 1.46 billion BOME, marking a 2.71% increase. The combined whale holdings, at the current price of $0.0024, are equivalent to $3.53 million worth of tokens.
Additionally, the distribution score is 15, signaling centralization but improving participation. Plus, the top 100 addresses saw a slight dip of 0.01%, potentially reflecting internal reshuffling. Exchange reserves dipped 0.11% to 56.54 billion, supporting the thesis of decreasing sell-side pressure and reinforcing bullish leanings on-chain.
The meme tokens’ (FLOKI and BOME) sharp bounce appears more than just sentiment; it coincides with renewed appetite among large holders during a week where broader US legislative wins injected confidence in speculative altcoins. With public wallets flat and smart money unchanged, whales remain the key market movers here.
