CZ Pleads Guilty, Faces Up to 10 Years in Prison
Binance founder Changpeng Zhao has pleaded guilty to criminal charges related to money laundering and sanctions violations. This plea deal requires Binance to cease operations in the U.S., and Zhao could face up to 10 years in prison. The charges stem from Binance’s failure to implement proper anti-money laundering safeguards, allowing illicit funds to flow undetected on the platform. The exchange also marketed heavily to U.S. customers while concealing its corporate structure and lacking proper licenses. The guilty plea reinforces the importance of compliance and regulation in the crypto industry.
Grayscale Persists with Bitcoin ETF Prospectus
Grayscale has submitted an updated prospectus for converting its Grayscale Bitcoin Trust into a spot Bitcoin ETF. Despite facing repeated rejections from the SEC, Grayscale remains optimistic about gaining approval, encouraged by growing public and political support for a Bitcoin ETF. If approved, Grayscale could become the largest bitcoin ETF, commanding $50 billion in assets. This could
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