Binance CEO Changpeng Zhao has agreed to pay $4.3 billion to settle money laundering allegations with U.S. authorities. This significant settlement will impact Binance’s net worth and likely affect the price of its native token, BNB. Investors are already reacting to the news, with BNB declining by over 17%.
Investors seeking alternative cryptocurrencies to recoup lost gains appear to be exploring InQubeta (QUBE), whose presale is in progress, drawing whales.
Let’s delve into the implications of Binance CEO’s $4.3 billion settlement and how InQubeta is gaining traction among crypto whales.
InQubeta presale draws crypto whales
AI startups can raise funds through InQubeta‘s decentralized finance (defi) crypto platform. AI companies create a collection of NFTs representing investment opportunities.
InQubeta makes them available for purchase to investors. The funds raised help AI startups launch and grow their businesses. As these companies grow, so does the value of the NFTs held by InQubeta investors. This investment approach makes InQubeta an option for AI and web3 enthusiasts.
QUBE has utility-rich features. As the platform’s governance token, QUBE allows holders to participate in InQubeta’s growth and decision-making processes.
By staking, QUBE holders can earn rewards, which, combined with InQubeta’s deflationary tokenomics, can support prices in the future.
In the ongoing presale, investors who buy QUBE at the current stage at $0.0161 can expect a 90% return by the end of the presale. QUBE may post more gains once it launches on decentralized exchanges like Uniswap.
The presale has sold over 527 million QUBE, raising more than $5.2 million for the platform.
BNB declines After Changpeng Zhao pleads guilty To allegations
This week brought significant developments to the crypto community.
Changpeng Zhao pleaded guilty to multiple violations identified by U.S. authorities and announced his resignation as CEO of Binance.
The crypto exchange agreed to a $4.3 billion settlement for admitting involvement in money laundering and illegal transfers. This unfavorable situation has prompted some investors to sell their BNB holdings.
Binance is still facing a pending regulatory case with the SEC from earlier this year, where the company confronted multiple misconduct allegations impacting BNB prices.
Following this recent setback, overall interest in BNB has declined as the coin fell 17%.
Conclusion
Binance is facing repercussions following Changpeng Zhao’s guilty plea, and further impact on BNB is anticipated as more investors withdraw, exploring alternative investment options like InQubeta.
In contrast to typical A.I. cryptos, InQubeta employs web3 to broaden its investment base. The use of NFTs in its ongoing presale has also garnered attention from crypto whales.
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