Day: November 21, 2023

Binance’s CZ to plead guilty to violating Anti-Money Laundering requirements — WSJ

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Binance founder Changpeng “CZ” Zhao has reportedly agreed to step down as CEO of his crypto exchange as the United States Department of Justice (DOJ) prepares to announce that it has secured a $4.3 billion settlement with the company. According to The Wall Street Journal, CZ intends to plead guilty to several charges levied by the DOJ. He’s scheduled to appear in a federal court in Seattle on Nov. 21, where he will enter his plea, the Journal said. The report also indicates that he will plead guilty to “a…

Ethereum Exchange Supply Drops To 5-Year Lows, What This Means For Price

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Ethereum recently cleared the $2,000 price level again in the past 24 hours, as filings of Spot Ethereum ETFs in the US start to pile up. New on-chain data has shown a clearer sentiment among ETH investors, and it looks like many are getting ready for the long haul.  Data shows that the amount of Ethereum held on exchanges has dropped since the middle of last week to the lowest levels since 2018. That means fewer people are selling their Ethereum, and more are holding onto it or staking it.…

Why this time is different

A wave of optimism around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has ignited bullish price action in the crypto market in recent weeks.  But that could be just the beginning: If a spot Bitcoin ETF receives a greenlight by the U.S. Securities and Exchange Commission (SEC), it would mark a major milestone in the history of digital assets. The spot Bitcoin ETF will provide institutional investors with a simple and regulated way to get exposure to Bitcoin with potentially explosive consequences for…

Microsoft, Salesforce, and Nvidia swoop in to hire OpenAI employees as walkout threats increase

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OpenAI’s decision to fire CEO Sam Altman may have put the company’s future in jeopardy.  Reportedly, a lion’s share of its employees have threatened to walkout unless the ousting is reversed. Complicating matters further, a number of executives from big tech orgnanizations have offered jobs to employees considering leaving. To my partners at OpenAI: We have seen your petition and appreciate your desire potentially to join Sam Altman at Microsoft’s new AI Research Lab. Know that if needed, you have a role at Microsoft that matches your compensation and advances…

Binance to Settle Charges With U.S. DOJ, Source Says; WSJ Reports Changpeng Zhao to Step Down

The DOJ announced it would hold a press conference on Tuesday to announce “significant cryptocurrency enforcement actions,” with Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco and Commodity Futures Trading Commission Chairman Rostin Behnam. The person familiar with the matter said this would be tied to the DOJ’s long-running investigation into Binance. Source

Wintermute Asia completes first block trade of options via CME Group

Wintermute Asia, a branch of the algorithmic trading firm Wintermute Group, has executed its first options block trade through CME Group, marking a significant collaboration between crypto and traditional financial markets. Wintermute Asia, a subsidiary of the algorithmic trading giant Wintermute Group, marked a significant milestone in the landscape of cryptocurrency derivatives trading. On Tuesday, the firm announced its first successful execution of an options block trade through the CME Group, a noteworthy event in the realm of digital assets. This pioneering BTC/USD block trade, facilitated between Wintermute Asia and…

Circle launches ‘bridged USDC standard’ for deploying to new networks

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Circle has introduced a new standard to streamline the process of launching its stablecoin, USDC (USDC), on new networks, according to a Nov. 21 blog post.  The new “bridged USDC standard” allows developers to launch the token through a two-phase process. In the first phase, the third-party developer has control of the token contracts, and the token on the new network is backed by a native version on another network. In the second phase, Circle takes control of the contracts, and the token becomes backed directly by Circle’s reserves. The…