CZ Steps Down as Binance CEO, Blast Aiming to Be First Native Yield L2
The U.S. Attorney General Merrick Garland and Treasury Secretary Janet Yellen are set to host a joint conference at 3pm EST to announce âseparate but related cryptocurrency enforcement actions.â It is believed they will announce a settlement of the DOJâs criminal case against Binance. Details of the settlement are already beginning to emerge. Binance founder Changpeng Zhao (CZ) has officially stepped down as CEO and is pleading guilty to anti-money laundering charges. Additionally, Binance is admitting wrongdoing and paying $4.3 billion in fines. The plea deal settles all DOJ charges but does not settle the SEC lawsuit against Binance for violating investor protection laws. CZ will retain majority ownership of the exchange but will not be permitted to hold an executive role. Before details about what the actions would entail, crypto markets were dropping sharply, with Bitcoin reaching the low $36,000s, but following all the headlines BTC (-1.46%) has pared losses, rebounding to $37k. BNB is reacting negatively to the news, falling 5.19% amid the resignation and significant fines.
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 1.59% falling to $60k and ETH 0.49% approaching the low $2,300s. Aptos (APT -0.97% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 0.82% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.59% climbing back above $61,000 and SOL 5.42% moving above $145, while ETH 0.49% is lagging, trading around $2,400. Among today's outperformers is SUI 1.45% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY -5.91% and QQQ -6.26% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 1.59% briefly dropping below $62k and ETH 0.49% below $2.5k. Among altcoins, SUI 1.45% is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 3dc0e5-c070b4-2c9013-39fd3b-8e021c
Already have an account? Sign In 3dc0e5-c070b4-2c9013-39fd3b-8e021c