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U.S. prosecutors are trying to prevent Changpeng Zhao from returning to the United Arab Emirates before his sentencing . The Department of Justice (DOJ) has pressed a Seattle federal judge on Nov. 22 to require Binance founder Changpeng Zhao to stay in the U.S. before his sentencing , Reuters has reported, citing a court filing. According to prosecutors, Zhao poses a “serious risk of flight” as he has “minimal ties to the U.S.” and, therefore, should remain in the country ahead of his sentencing hearing scheduled on Feb. 23, 2024. Under the current terms of agreement, Zhao can leave the U.S., after singing a $175 million personal recognizance bond. He also locked $15 million in a trust account as part of the agreement. You might also like: Changpeng Zhao’s journey: from McDonald’s to crypto magnate However, prosecutors emphasized in a Wednesday filing that the $175 million bond is outside the jurisdiction of the U.S. legal system, making it extrem...

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. Analysts at Matrixport, a Singapore based crypto management platform founded by Jihan Wu, wrote that there “will likely be pressure to ‘right-size’ the company.” As of July 2023, Binance had almost 8,000 employees and even planned to hire more, while other crypto exchange s reduced their headcounts in a bid to optimize operating expenses. “With Changpeng Zhao stepping down and the fine less than the $10 billion feared, Binance will likely remain a top-three exchange over the next two-three years.” Matrixport You might also like: Coingecko: Coinbase tops crypto lobbying spenders in 2023 Analysts al...

BNB hit its highest price since June after Bloomberg reported the Justice Department wanted $4 billion from Binance to end its probe into the exchange. BNB (BNB) has gained over 7% in the last day after Bloomberg report ed that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company. Cointelegraph Markets Pro shows BNB spiked 6% to $262 in around 30 minutes after Bloomberg’s Nov. 20 report , which said Binance was negotiating an agreement to resolve a DOJ probe into alleged sanctions violations, money laundering and fraud. BNB dropped to $252 around four hours later but notched a second spike to $266 — its highest price since June 7 — two days after the Securities and Exchange Commission sued Binance and CEO Changpeng “CZ” Zhao alleging they violated various securities laws. BNB has seen an over 7% gain in the last 24 hours. Source: Cointelegraph Markets Pro The Binance-issued token has the highest 24...

Bitcoin options and futures data suggests the current BTC price movement could have longevity. Bitcoin’s (BTC) price action is the talk of the town this week and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started.  As Bitcoin's price rallied by 16.1% between Oct. 22 and Oct. 24, bearish traders using futures contracts found themselves liquidated to the tune of $230 million. One data point that stands out is the change in Bitcoin's open interest, a metric reflecting the total number of futures contracts in play. The evidence suggests that Bitcoin shorts were taken by surprise on Oct. 22 but they were not employing excessive leverage. Bitcoin futures aggregate open interest, USD. Source: Coinglass During the rally, BTC futures open interest increased from $13.1 billion to $14 billion. This differs from August 17, when Bitcoin's price dropped by 9.2% in just 36 hours. That s...

Web3 is the next-generation internet comprising innovative technologies and research fields including artificial intelligence (AI), blockchains, machine learning, cryptocurrency, metaverse, NFTs, virtual reality, etc. The companies working on Web 3.0 will be the leaders of tomorrow. advertisement Also Read: Binance Ceases Bitcoin, ETH, DOGE, XRP, And Other Crypto Trading Against AUD Binance CEO on China Web 3.0 Approach Amid Hong Kong The Beijing Municipal Science and Technology Commission and the Zhongguancun Administrative Committee officially released the “ Beijing Internet 3.0 White Paper on Innovation and Development (2023) ” during the 2023 Zhongguancun Forum Parallel Forum “Internet 3.0: Future Internet Industry Development” hosted by the Beijing Association for Science and Technology. According to the white paper, the government will actively support Web 3.0 developments and research to establish China’s leadership in these...