Cryptocurrency Analysis and News Portal
The crypto community on social media has greeted the news of the deal between Binance, Changpeng “CZ” Zhao and the United States Department of Justice (DOJ) mostly positively, hoping it removes one of the last remaining obstacles before the long-awaited approval of a spot Bitcoin exchange-traded fund (ETF).The $4.3 billion
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New Binance CEO Richard Teng has a rich track record in the financial regulatory environment, having worked in Dubai and Singapore for the past years. After a lengthy fight between the United States government through the Department of Justice (DoJ), and the leading cryptocurrency exchange by registered users and daily traded
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As crypto exchange Binance and the departure of its CEO Changpeng “CZ” Zhao hit the headlines in the last 24 hours, the digital asset space went into a rollercoaster mode that saw the market liquidate close to $175 million for traders betting on long positions.On Nov. 21, developments in Binance
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As part of the plea deal with prosecutors, Binance has agreed to pay the United States Department of Justice (DoJ) $4.3 billion. The chief executive officer (CEO) of Binance Changpeng Zhao (CZ) has pleaded guilty to federal money laundering charges and announced he is stepping down from the helm of affairs
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“There are constant hourly net outflows of bitcoin and stablecoins after the CZ's resignation announcement,” Hochan Chung, head of marketing at CryptoQuant, told CoinDesk. “However, compared to the total reserves of Binance, the current volume is not yet significant at all.” Original Source
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Analysts at Matrixport do not rule out there will be pressure to ‘right-size’ Binance. With Changpeng Zhao leaving Binance as its Chief Executive Officer (CEO), the crypto exchange will likely have from two to three years before competition in the market starts affecting the company’s position, according to a new report.
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Data from CoinGlass show, exchanges have liquidated crypto perpetual futures positions worth $227 million in the past 24 hours. Bullish longs accounted for nearly 80% of the tally. Meanwhile, over $67 million worth of bitcoin longs and shorts, referring to bets on and against price rises, respectively, have been liquidated
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As of writing, BTC traded close to $36,400, having tanked over 4.5% to $35,700 Tuesday. BNB changed hands at $234, recovering from the overnight low of $223, CryptoX data show. Both currencies, however, were still down 3.3% and 11.5% on a 24-hour basis, nursing hangover from Tuesday's events, which saw
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Further, Binance appears to be overcollateralized for many of the largest assets on its books, like bitcoin (BTC), ether (ETH), tether (USDT) and others, meaning Binance’s net balances are more than it owes customers. In other words, if every Binance customer withdrew every bitcoin they owned, the exchange would have
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Binance founder and former CEO Changpeng "CZ" Zhao has been released from custody on a $175 million personal recognizance bond. Source
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