Interest in crypto grows with the increase of Fusionist’s ACE token listed on Binance
The Fusionist (ACE) token has seen a significant 20% increase in the last 24 hours, thanks to its recent listings on two popular cryptocurrency exchanges, Binance and OKX. Currently, ACE is priced at around $14.61 with a market capitalization of $312,294,752.
OKX has also announced the listing of ACE/USDT on its perpetual futures market, allowing users to trade ACE with leverage up to 50x. Margin trading and the Simple Earn feature for ACE will be activated on December 19th.
The ACE token is based on the Endurance blockchain and is associated with the Web3 gaming project by Fusionist. Binance has launched a perpetual contract for ACE on its Futures platform, offering users the opportunity to trade with leverage up to 50x.
Binance and Zhao accept a $2.7 billion fine: judge approves agreement with CFTC
A US judge has approved an agreement between Binance and former CEO Changpeng Zhao, which involves the payment of a total fine of $2.7 billion. This is part of a larger agreement of $4.3 billion that Binance reached with various regulatory bodies in November.
As part of the resolution, Changpeng Zhao has resigned from his position as CEO of Binance. Judge Manish Shah has issued an order formalizing the agreement, putting an end to the CFTC’s action against Binance and Zhao.
Zhao will pay a fine of $150 million, while Binance will pay $2.7 billion. The funds will go towards reimbursing illicit trading fees and the CFTC.
The rigid compliance measures for Binance
Zhao and Binance have been found to have violated the Commodity Exchange Act (CEA) and CFTC regulations. The court order requires them to certify the existence, application, and effectiveness of Binance’s improved compliance controls.
Additional obligations include identity validation procedures for new users and restrictions on sub-accounts bypassing compliance checks. Binance is also committed to eliminating accounts that do not meet compliance requirements or fail KYC checks.
A civil penalty of $1.5 million has also been approved against Samuel Lim, the former Chief Compliance Officer of Binance, for facilitating violations and offshore activities that sought to evade US laws.
Hot Take: Fusionist’s ACE Token Gains Momentum with Binance Listing
The recent listing of Fusionist’s ACE token on Binance has sparked a surge in interest and a significant price increase. With its listings on Binance and OKX, ACE is gaining traction in the blockchain gaming sector.
Meanwhile, Binance and Changpeng Zhao have reached a settlement with regulatory authorities, agreeing to pay a hefty fine of $2.7 billion. This resolution marks a significant step towards improving compliance measures in the cryptocurrency industry.
As the crypto market continues to evolve, it is crucial for exchanges and token projects to adhere to regulations and ensure transparency. Fusionist’s ACE token is poised for further growth as it gains recognition in the decentralized gaming sector.
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