Binance ex-CEO’s travel ban
Changpeng Zhao, the former CEO of Binance, has been banned from leaving the United States until his sentencing in February next year. This comes after the U.S. Justice Department argued that Zhao might not return to face his sentencing if he was allowed to leave the country.
Zhao resigns as Binance.US chairman amid probe
Following a probe by U.S. authorities into Binance’s operations, Zhao has resigned from his position as the board Chairman of Binance.US. The U.S. Securities and Exchange Commission (SEC) is investigating whether Binance.US employed a backdoor mechanism similar to FTX for illegal financial operations involving customer assets.
Ronaldo caught in the crossfire, Binance’s woes in the Philippines
Binance customers have initiated a class action against Cristiano Ronaldo, claiming they incurred losses due to his promotion of Binance. Additionally, the Philippines SEC has revealed that Binance has been operating in the country without a valid license, leading to potential measures to block its operations.
Spot BTC ETFs: Grayscale, BlackRock modify filings
Grayscale and BlackRock have made modifications to their spot BTC ETF filings. Grayscale has modified its GBTC agreement to make it suitable for a spot ETF, while BlackRock has addressed concerns raised by the SEC in its filing.
Discussions surrounding a BTC ETF
The approval process for a spot BTC ETF remains uncertain, with SEC Chairperson Gary Gensler refusing to comment on multiple filings. Bloomberg ETF analyst James Seyffart suggests that the next approval window is between January 5 and January 10 next year.
Scams, hacks and everything in between
The U.S. Treasury has sanctioned crypto mixer Sinbad for allegedly being used by North Korean hackers to launder stolen funds. The Kyberswap hacker who stole $47 million has demanded full control of the protocol. Circle has denied allegations of facilitating illegal financial transactions.
UN turns to Algorand, MSTR buys more BTC
The United Nations is collaborating with the Algorand Foundation to educate its staff on blockchain. MicroStrategy continues to show optimism in Bitcoin, purchasing 16,130 more BTC tokens. Circle has partnered with SBI Holdings to offer stablecoin services in Japan.
Bitcoin conquers $39,000
Bitcoin’s price continues to rise, surpassing $39,000 amid sustained bullishness. CoinShares reports an 18-month high of $346 million in inflows for digital asset products. Over 80% of BTC holders are currently in profit, and Bitcoin aims to reclaim the $40,000 territory.
Hot Take: Bitcoin’s Bullish Momentum Continues
Despite regulatory challenges and investigations faced by Binance and its former CEO Changpeng Zhao, Bitcoin remains on a bullish trajectory. With the price surpassing $39,000 and over 80% of BTC holders in profit, the cryptocurrency market shows resilience and investor confidence. The ongoing discussions surrounding a spot BTC ETF approval add further anticipation to the market. As Bitcoin aims to reclaim the $40,000 mark, it remains a focal point for both traders and institutional investors. The coming weeks will determine whether Bitcoin can maintain its upward momentum and potentially reach new all-time highs.
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