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Zhao – Cryptocurrencypanther https://cryptocurrencypanther.com Latest Crypto News Sat, 20 Sep 2025 00:56:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://cryptocurrencypanther.com/wp-content/uploads/2021/07/cropped-Cryptocurrency-e1626714913653-32x32.png Zhao – Cryptocurrencypanther https://cryptocurrencypanther.com 32 32 Trust Wallet Token (TWT) Price Rallies 74% After Latest Statements from Changpeng Zhao https://cryptocurrencypanther.com/2025/09/20/trust-wallet-token-twt-price-rallies-74-after-latest-statements-from-changpeng-zhao/ https://cryptocurrencypanther.com/2025/09/20/trust-wallet-token-twt-price-rallies-74-after-latest-statements-from-changpeng-zhao/#respond Sat, 20 Sep 2025 00:56:51 +0000 https://cryptocurrencypanther.com/2025/09/20/trust-wallet-token-twt-price-rallies-74-after-latest-statements-from-changpeng-zhao/

Key Notes

  • Binance co-founder’s endorsement triggered TWT’s breakout above $1.33, marking its highest level in 2025 amid 400% volume surge.
  • New tokenomics litepaper introduces tiered loyalty rewards and enhanced community programs to drive real-world adoption.
  • Technical indicators remain bullish despite 14% correction, with next resistance target at $1.35 and support at $0.87.

Trust Wallet

TWT
$1.17



24h volatility:
22.9%


Market cap:
$485.47 M



Vol. 24h:
$402.91 M



price rallied 74% on Friday, Sept. 19, as Binance co-founder Changpeng Zhao shared forward-looking remarks on upcoming use cases for the ecosystem.

Zhao highlighted the project’s 99% TWT token burn and expanding real-world applications, triggering a sharp breakout that pushed the token above $1.33 for the first time in 2025.


Markets interpreted the post as validation of new strategies outlined in Trust Wallet’s latest tokenomics litepaper, released Thursday.

Trust Wallet enters top 5 trending tokens | Source: Coinmarketcap

Trust Wallet enters top 5 trending tokens | Source: Coinmarketcap

Tiered loyalty rewards and enhanced community incentive programs were among the features highlighted in the roadmap. TWT remains among the top 5 trending tokens on Coinmarketcap, as the market chatter around CZ’s comments intensifies around noon US trading.

TWT Token Price Forecast: What Next After 14% Correction?

At press time, Trust Wallet Token trades near $1.14, down 14% from intraday peaks above $1.30. However, technical indicators suggest that upside momentum remains intact.

Despite the correction, the 7-day and 30-day SMAs at $0.87 and $0.79 respectively, remain well below current price levels, confirming strong bullish dominance. The intraday breakout candle on Friday’s 74% gain was supported by a 400% surge in trading volume, signaling institutional-size inflows.

Trust Wallet (TWT) Token Price Analysis, Sept. 19, 2025

Trust Wallet (TWT) Token Price Analysis, Sept. 19, 2025

MACD readings show the blue signal line at 0.0481 remains above the red line at 0.0154, reflecting sustained bullish momentum. The widening histogram further reinforces the ongoing positive trend.

If the buying momentum persists, bulls could eye the next major resistance at $1.35. On the downside, further declines below the 7-day MA at $0.87 could signal weakness in the current upside catalysts, potentially triggering a retreat toward $0.77.

SUBBD Presale Gains Momentum as Trust Wallet Surge Highlights Expanding Market Appetite

While Trust Wallet’s imminent roadmap proposes fresh incentives for crypto adoption, early-stage projects like SUBBD ($SUBBD) are also attracting market interest.

SUBBD merges creator-fan engagement with real-world use cases, enabling fans to interact directly with creators while leveraging AI-powered content personalization.

SUBBD Presale

SUBBD Presale

The presale has already raised $1.16 million of its $1.34 million target, trading at $0.056 per token.

With just over 24 hours left, prospective buyers can still secure SUBBD tokens directly via the official website before the next price cap is unlocked.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Ibrahim Ajibade

Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

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Binance Founder Changpeng Zhao Hints At BTC Rally To $1M Despite Recent Crash https://cryptocurrencypanther.com/2025/02/26/binance-founder-changpeng-zhao-hints-at-btc-rally-to-1m-despite-recent-crash/ https://cryptocurrencypanther.com/2025/02/26/binance-founder-changpeng-zhao-hints-at-btc-rally-to-1m-despite-recent-crash/#respond Wed, 26 Feb 2025 11:33:46 +0000 https://cryptocurrencypanther.com/2025/02/26/binance-founder-changpeng-zhao-hints-at-btc-rally-to-1m-despite-recent-crash/

In the latest crypto market crash, Bitcoin (BTC) dipped below the significant $90k support, sparking investor concerns. However, Binance CEO Changpeng Zhao offered a reassuring outlook, predicting Bitcoin (BTC) will bounce back and eventually reach $1 million.

In stark contrast, Bitcoin critic Peter Schiff forecasted a prolonged downturn for BTC, viewing the recent dip as merely the beginning of a larger decline. While traders and investors remain cautious, let’s unveil what the current bearish dip could mean for BTC.

Will Bitcoin Hit $1M? Changpeng Zhao Remains Bullish

In response to the recent crypto market turmoil, Binance founder Changpeng Zhao wrote on X, “No need to panic, bitcoin won’t die.” CZ’s words of encouragement sparked a ripple effect, as the community reflected on his hopeful outlook.

Significantly, Changpeng Zhao’s bullish perspective was reinforced by a bold prediction of Bitcoin’s future journey. In an X post, CZ projected BTC’s rally to an ambitious $1,000,000 following its recent surge past the significant $100k point. In a playful post, CZ wrote, “Waiting for the new headline: Bitcoin “CRASHES” from $1,001,000 to $985,000.”

Changpeng Zhao’s Crystal Ball: What’s After $100K Bitcoin?

Notably, Changpeng Zhao’s recent $1M prediction comes on the heels of his previous prediction of Bitcoin reaching $100k. On December 17, 2020, CZ posted a message on X, urging his followers to save it for future reference. The post read, “Waiting for the new headline: Bitcoin “CRASHES” from $101,000 to $85,000.”

In a stunning display of foresight, CZ predicted Bitcoin’s rally to $100,000 when the crypto was trading at just $20,000. This bold forecast has proven remarkably accurate, with BTC reaching the $100K milestone within an impressive three-year timeframe. Given CZ’s impressive track record, his latest $1M projection for BTC is undoubtedly worth attention.

Recently, Changpeng Zhao reflected on the $1.4 billion Bybit hack, prioritizing security. According to CZ, halting withdrawals is essential following a hack to ensure safety.

BTC Price Sets the Stage for a Major Rally

Reinforcing Changpeng Zhao’s predictions, market experts provide technical analysis that highlights Bitcoin’s future rally. For instance, Altcoin Scholar identified that BTC is nearing a key rising trendline support and a significant horizontal trendline. This point, which is marked around $85k is crucial for Bitcoin’s upward momentum.

Binance Founder Changpeng Zhao Hints At BTC Rally To $1M Despite Recent Crash

Similarly, Ufo Calls, another prominent crypto voice on X, shared a bullish perspective despite BTC’s slip below the $90k level. According to the analyst, Bitcoin is currently experiencing a temporary correction. They added that Bitcoin would rebound and continue its upward trajectory.

Peter Schiff Challenges CZ’s Bullish View

In contrast to Changpeng Zhao’s optimistic prediction, Peter Schiff, a vocal skeptic of Bitcoin, cited, “Turn out the lights, the Bitcoin 100K party is over.” Schiff noted that Bitcoin’s entry into the bear market was surprisingly calm, rather than chaotic.

According to him, this subdued reaction may actually underscore the severity of the impending crypto winter. Deeming Bitcoin’s dip below $90k as just the starting point of a longer bearish trend, he stated, “The Bitcoin bear market is not over, but just getting started.”

As of press time, Bitcoin is trading at $89,083, marking a marginal surge of 01.15% in a day. Over the last week and month, BTC has experienced major dips of 7.4% and 9.8%, respectively. Despite its solid position in the crypto market, BTC’s trading volume plummeted by 10%, currently at $64.27 billion.

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Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

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Binance Founder Changpeng Zhao Claims EU Needs Bitcoin https://cryptocurrencypanther.com/2025/01/31/binance-founder-changpeng-zhao-claims-eu-needs-bitcoin/ https://cryptocurrencypanther.com/2025/01/31/binance-founder-changpeng-zhao-claims-eu-needs-bitcoin/#respond Fri, 31 Jan 2025 17:48:47 +0000 https://cryptocurrencypanther.com/2025/01/31/binance-founder-changpeng-zhao-claims-eu-needs-bitcoin/

The European Central Bank (ECB) President Christine Lagarde’s recent statement on a strategic Bitcoin reserve has sparked widespread criticism. Binance founder Changpeng Zhao believes the European Union needs Bitcoin, contradicting Christine Lagarde’s assertion that the EU will never include it in its reserve.

CZ’s Bitcoin Endorsement Ignites Hope

In a recent X post, Binance founder and former CEO Changpeng Zhao, also known as “CZ,” stated, “EU needs Bitcoin.” His words sparked widespread attention as it followed ECB President Christine Lagarde’s controversial decision on the BTC reserve.

In response to CZ’s comments, many pointed out the importance of the European Union including the crypto asset in its reserve. According to crypto proponents including CZ, Bitcoin is a necessity for the EU, and not a choice.

Embracing the Future: Why the EU Needs BTC

While the ECB disregards Bitcoin as a secure asset, industry experts see the asset as the future of finance. Donald Trump intends to turn his country into a “Bitcoin superpower” and a crypto capital.

Corroborating CZ’s bold statement, experts highlighted BTC’s potential in a world facing the devaluation of the traditional finance system. As inflation surges and central banks exert unprecedented control, the fiat system is crumbling. While this creates havoc, experts see Bitcoin as the only solution.

Crypto enthusiasts have fired back at Lagarde’s assertion that the asset isn’t secure, pointing out that BTC has never been hacked. They argue that Bitcoin boasts the most secure computer code ever written. This bold statement is grounded in its robust security architecture, which leverages its decentralized design, advanced cryptography, and the most secure blockchain infrastructure. This signifies that Changpeng Zhao’s endorsement of Bitcoin is echoed by the entire cryptocurrency community.

Will ECB Reconsider Its Skeptical Approach?

In a recent development, ECB President Christine Lagarde expressed her opposition to the adoption of a BTC reserve. She asserted that the EU would never acquire the cryptocurrency to diversify its national reserve. According to Lagarde, BTC falls short of the required standards for liquidity, security, and safety.

However, the ECB’s skeptical view on the digital currency has drawn criticism, with many urging the central bank to reconsider its approach. Criticizing Lagarde’s decision, Pierre Rochard, VP of Research at Riot Platforms, stated, “ECB needs a new president who understands bitcoin.” Crypto advocates believe that once the US successfully adopts Bitcoin as a reserve asset, the rest of the world, including Europe, will recognize its importance and follow suit. Changpeng Zhao’s bold claim has further sparked optimism on Bitcoin’s potential global recognition.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

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Binance Founder Changpeng Zhao Teases Buying Bitcoin Dips https://cryptocurrencypanther.com/2025/01/14/binance-founder-changpeng-zhao-teases-buying-bitcoin-dips/ https://cryptocurrencypanther.com/2025/01/14/binance-founder-changpeng-zhao-teases-buying-bitcoin-dips/#respond Tue, 14 Jan 2025 11:33:47 +0000 https://cryptocurrencypanther.com/2025/01/14/binance-founder-changpeng-zhao-teases-buying-bitcoin-dips/

Binance founder Changpeng “CZ” Zhao has highlighted his thoughts about buying Bitcoin amid price dips. This comes amid the speculation that the US President-elect, Donald Trump, may sign executive orders related to crypto on the first day of his tenure. Meanwhile, BTC prices have started showing signs of recovery with a notable price rise in the last 24 hours.

Binance Founder Changpeng “CZ” Zhao on Buying Bitcoin

Binance founder Changpeng “CZ” Zhao has published a post on X, highlighting that dips in BTC prices are an opportunity for traders and investors to buy Bitcoin tokens.

He added that the ongoing momentum reflects those earlier signs that many crypto investors and traders may have missed when BTC was beginning to gain traction on price charts. He has also clarified that his post is not financial advice.

Interestingly, Michael Saylor’s MicroStrategy bought Bitcoin worth $243 million to take total BTC holdings to 450,000. This has added to Bitcoin accumulation by investors, considering the long-term outlook.

Donald Trump’s Executive Order

It is speculated that Donald Trump will sign executive orders pertaining to cryptocurrencies on his first day as the US President. These executive orders reportedly address de-banking and bank accounting policies for cryptocurrencies. Bank accounting policy currently requires banks to list digital assets as liabilities, and Donald Trump’s signing the executive order will change that.

Donald Trump is also expected to give a green light to several US Crypto ETFs that have already been filed by issuers. JPMorgan has forecasted that Solana and XRP ETFs could bring an inflow of around $15 billion in the first 12 months after their approval.

BTC Price Recovery

Bitcoin price is recovering after advice by Binance founder Changpeng Zhao. Bitcoin prices are up by 5% in the last 24 hours, exchanging hands at $96,598, which shows a significant recovery from the latest crash. The 24-hour trading volume surged by 138.74% and is expected to grow as the macro headwinds clear.

As QCP Capital, the US PPI and CPI inflation data could come on the upside, as traders begin to readjust to the prolonged higher interest rate reality. They also added that the possibility of Trump signing executive orders on day one, addressing “de-banking” and repealing a contentious crypto accounting policy, could provide a required boost to the market.

Ongoing sentiments around BTC are bearish. However, market sentiments are expected to flip as BTC starts recovering and Trump gets closer to the US Presidential inauguration.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Co-Founder Changpeng Zhao Applauds Bhutan’s Crypto Strategic Reserve Plans https://cryptocurrencypanther.com/2025/01/08/binance-co-founder-changpeng-zhao-applauds-bhutans-crypto-strategic-reserve-plans/ https://cryptocurrencypanther.com/2025/01/08/binance-co-founder-changpeng-zhao-applauds-bhutans-crypto-strategic-reserve-plans/#respond Wed, 08 Jan 2025 20:13:50 +0000 https://cryptocurrencypanther.com/2025/01/08/binance-co-founder-changpeng-zhao-applauds-bhutans-crypto-strategic-reserve-plans/

Binance Co-Founder Changpeng Zhao has expressed support for Bhutan’s bold decision to include cryptocurrencies in its strategic reserves. The announcement marks Bhutan’s move to strengthen its economic resilience and innovation within the growing digital asset ecosystem.

Changpeng Zhao Applauds Bhutan’s Crypto Strategic Reserve Plans

Gelephu Mindfulness City (GMC) in Bhutan, a Special Administration Region, has recently added Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) to its strategic reserves. The region as a result plans to develop the position of the economy by using liquid assets and assets with a high market capitalization among digital assets.

In a statement, GMC said it will only invest in assets that are issued on secure blockchains and where on-chain transactions can be monitored. ”For its strategic reserves, GMC plans to only include digital assets that have a large market capitalization and are highly liquid,” the statement added.

Binance Co-founder Changpeng Zhao as a result has praised Bhutan for the liberal policy of accepting many forms of cryptocurrency, which indicates the country’s willingness to try new approaches to blockchain technology. He said, “This is a strategic decision by the country to lure crypto firms, investments and innovations.”

GMC’s Plans to Host a Global Meeting on Digital Assets

Concurrently, GMC has also revealed its intention to conduct a high-level conference in March of 2025 to address the question of the inclusion of digital currencies in the national strategic reserves. The meeting will consist of representatives of the world’s governments and heads of major companies. GMC also intends to convene an international council on digital assets in the course of the event.

Binance Co-founder Changpeng Zhao has pointed out that Bhutan’s actions could encourage other countries to explore the use of cryptocurrencies as an instrument of their economic policies. He pointed to the addition of Binance Coin to the company’s reserves as an indication of the rising popularity of BNB.

The meeting, in addiiton, coincides with Bhutan’s strategy to promote itself as a front-runner in blockchain technology with GMC acting as a center for new technologies. Zhao praised the country’s vision, saying that Bhutan is “a great example of how things should be done.”

Bhutan’s History with Crypto Mining and Adoption

Cryptocurrency mining has been practiced in Bhutan for a long time now, with the Himalayan nation using hydroelectricity to power its clean energy mining. Druk Holding & Investments, the sovereign investment arm of the country, started mining Bitcoin in 2019 and is reported to have more than $1 billion worth of Bitcoin, as per Arkham Intelligence data.

Zhao consequently pointed to Bhutan’s mining background and the fact that the country already owns Bitcoin, which makes it a perfect candidate for the broader implementation of digital currency. 

The reserves in addition incorporate other cryptocurrencies such as Ethereum and Binance Coin making Bhutan as one of the first countries to embrace multiple cryptocurrencies for stability.

New Laws Support Crypto Growth in Gelephu Mindfulness City

The Application of Laws Act 2024 has laid down a legal framework on the operations of digital asset companies in GMC. The law provides a safe and efficient framework for conducting crypto transactions, which fits the region’s strategy to grow the use of blockchain.

Binance Co-founder Changpeng Zhao subsequently congratulated the authorities and stressed that such approaches contribute to increasing confidence in the market and the development of the digital asset industry. He added that such an initiative will probably draw global crypto companies to Bhutan.

This move as a result shows that Bhutan is an innovative and economically stable country since it has decided to include cryptocurrencies in its strategic reserves. As Changpeng Zhao keeps on supporting such ventures, his part in the promotion of the crypto sector remains crucial in the expansion of blockchain technology across the globe.

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Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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Binance Founder Changpeng Zhao Says Meme Coins Are Getting 'A Little Weird' — But Dogecoin, Shiba Inu Aren't The Culprits – Benzinga https://cryptocurrencypanther.com/2024/11/26/binance-founder-changpeng-zhao-says-meme-coins-are-getting-a-little-weird-but-dogecoin-shiba-inu-arent-the-culprits-benzinga/ https://cryptocurrencypanther.com/2024/11/26/binance-founder-changpeng-zhao-says-meme-coins-are-getting-a-little-weird-but-dogecoin-shiba-inu-arent-the-culprits-benzinga/#respond Tue, 26 Nov 2024 15:58:45 +0000 https://cryptocurrencypanther.com/2024/11/26/binance-founder-changpeng-zhao-says-meme-coins-are-getting-a-little-weird-but-dogecoin-shiba-inu-arent-the-culprits-benzinga/

Binance Founder Changpeng Zhao Says Meme Coins Are Getting ‘A Little Weird’ — But Dogecoin, Shiba Inu Aren’t The Culprits  Benzinga



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Binance Founder Changpeng ‘CZ’ Zhao Dismisses ‘Bitcoin is Dead’ Claims https://cryptocurrencypanther.com/2024/11/12/binance-founder-changpeng-cz-zhao-dismisses-bitcoin-is-dead-claims/ https://cryptocurrencypanther.com/2024/11/12/binance-founder-changpeng-cz-zhao-dismisses-bitcoin-is-dead-claims/#respond Tue, 12 Nov 2024 09:09:56 +0000 https://cryptocurrencypanther.com/2024/11/12/binance-founder-changpeng-cz-zhao-dismisses-bitcoin-is-dead-claims/

Binance founder Changpeng ‘CZ’ Zhao recently took to X to counter claims that “Bitcoin is dead.” Sharing a link to the “Bitcoin is Dead” website, Zhao emphasized the enduring skepticism that Bitcoin faces despite its significant influence in global finance.

Bitcoin continues to hold strong as the most widely recognized cryptocurrency. CZ message underlines Bitcoin’s resilience, as skeptics have repeatedly predicted its demise, yet Bitcoin continues to thrive and grow in market prominence.

CZ Binance Pushes Back on “Bitcoin Is Dead” Claims

In an X post on November 12, Binance founder Changpeng ‘CZ’ Zhao commented on the recurring narrative of Bitcoin death. He encouraged users to critically evaluate the opinions of skeptics, sharing a link to a website titled “Bitcoin Is Dead” that tracks these claims.

Binance Founder Changpeng 'CZ' Zhao Dismisses 'Bitcoin is Dead' Claims

The “Bitcoin is Dead” page on BuyBitcoinWorldwide, shared by CZ Binance, lists 385 articles declaring Bitcoin supposed demise from various sources. The repeated “obituaries” underscore the ongoing skepticism Bitcoin faces despite its growth and adoption. These claims stand in stark contrast to Bitcoin’s expanding role in finance and its strong supporter base.

Bitcoin advocates argue it remains a pivotal technology for decentralized finance, often facing scrutiny from traditional finance. CZ Binance’s post further underscores Bitcoin’s resilience and evolution, affirming its place in the crypto world.

Binance’s Role and Growing Ecosystem

Binance, the largest cryptocurrency exchange, continues to expand its services and network, supporting Bitcoin role in the market. As more users turn to Binance for trading and asset management, the exchange influence on Bitcoin adoption has only grown.

BTC price recent surge has further silenced critics. Trading at $89,482, Bitcoin has achieved a 24-hour high of $89,783 and a low of $80,750, with a 24-hour trading volume reaching $135 billion. Its market cap has surpassed silver’s, showing a 30% gain over the past week and a 42% increase over the past month, cementing its position as a dominant asset in the global market.

Amid this support for Bitcoin, Binance and Changpeng ‘CZ’ Zhao also face a recent lawsuit from FTX, which demands the return of $1.8 billion in funds. This ongoing case highlights the regulatory challenges Binance faces while driving forward the adoption and stability of Bitcoin in the broader ecosystem.

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Bitcoin, Ethereum, Dogecoin Tumble After Binance CEO Changpeng Zhao Resigns, Pleads Guilty To Felony Char – Benzinga https://cryptocurrencypanther.com/2023/11/22/bitcoin-ethereum-dogecoin-tumble-after-binance-ceo-changpeng-zhao-resigns-pleads-guilty-to-felony-char-benzinga/ https://cryptocurrencypanther.com/2023/11/22/bitcoin-ethereum-dogecoin-tumble-after-binance-ceo-changpeng-zhao-resigns-pleads-guilty-to-felony-char-benzinga/#respond Wed, 22 Nov 2023 03:13:50 +0000 https://cryptocurrencypanther.com/2023/11/22/bitcoin-ethereum-dogecoin-tumble-after-binance-ceo-changpeng-zhao-resigns-pleads-guilty-to-felony-char-benzinga/

Bitcoin, Ethereum, Dogecoin Tumble After Binance CEO Changpeng Zhao Resigns, Pleads Guilty To Felony Char  Benzinga



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Binance CEO Zhao could face criminal charges https://cryptocurrencypanther.com/2022/12/12/binance-ceo-zhao-could-face-criminal-charges/ https://cryptocurrencypanther.com/2022/12/12/binance-ceo-zhao-could-face-criminal-charges/#respond Mon, 12 Dec 2022 16:08:57 +0000 https://cryptocurrencypanther.com/2022/12/12/binance-ceo-zhao-could-face-criminal-charges/

  • Department of Justice prosecutors split on whether enough evidence to file criminal charges against Binance CEO Changpeng Zhao
  • Binance’s position in the industry is so dominant that any story on them is now a big deal 
  • Regardless on the charges, Binance’s proof of reserves failing to satisfy transparency demands
  • Crypto needs to change its entire ethos, as customers currently forced to hope with blind faith that all is OK

Here we go again. According to a Reuters report, Department of Justice prosecutors are split over the next steps to take regarding a Binance investigation.

The exchange has been under investigation since 2018 for allegedly failing to comply with anti-money laundering laws and sanctions.

The report claims that some of the federal prosecutors want to move ahead aggressively against the exchange. They believe they have enough evidence to file criminal charges against individual executives, including CEO Changpeng Zhao (CZ).

Binance fire back 

Binance criticised the report, to nobody’s real surprise.

“Reuters has it wrong again. Now they’re attacking our incredible law enforcement team”, it tweeted out.

So, is this the latest storm in cryptoland? Is Binance in trouble?

Well, it’s easy to jump to knee-jerk reactions given the shenanigans in the space from other actors (we don’t need to name any names, I’m sick of talking about certain people). But this isn’t that.

This has been a long-running investigation, commencing in 2018. Binance’s tussles with regulators are no secret. Brian Brooks, the former CEO of the American subsidiary, Binance.US, stepped down only three months into the job as regulators closed in.

CZ said at the time that Binance was “going to pivot to be a fully regulated financial institution going forward” and that he would be “very open” to stepping down if a replacement CEO with more regulatory experience was found.

This is therefore not a wholly unexpected development, with the public well aware this was an ongoing investigation.

More of the same for crypto

However, while this is not an alarm bell situation, it sums up big problems in the crypto industry. Nobody really knows what to make of this investigation, and that is sort of the point – Binance is far from transparent which is not healthy for the industry at large.

Crypto is now also at a point where CZ and Binance are vitally important to the space at large. A misstep from the exchange could be fatal. Its importance has never been more evident than by looking at the $1 billion fund created by CZ to prop up struggling players in the industry (in a move spookily reminiscent of Sam Bankman-Fried’s carryon as the “lender of last resort” in a past life, by the way).

It makes perfect sense that regulators are coming for the former “headquarterless” exchange (which seems to still not have a formal headquarters, by the way), given both this dominance of the market and the lack of transparency.

Coinbase and Binance the last two players, but one is more transparent than the other

Binance, alongside Coinbase, is now probably the most important firm in the entire crypto industry. But they are very different. Coinbase is publicly listed and on a completely different level in terms of transparency. The required disclosures and other hoops that public companies must jump through may be burdensome, but they do provide peace and mind for customers.

Binance, on the other hand, has skirted the law throughout its highly successful few years of existence. Not that this is a criticism of them – the industry literally sprung up from nothing, with regulation entirely non-existent. It was impossible to do anything otherwise in the past.

But the crypto industry has grown, and Binance still presents as a complete mystery when it comes to its financials. This is despite several claims to the contrary.  

Their proof of reserves was largely meant to address this transparency issue. However, their process is far from satisfactory. I spent a few hours over the weekend trying to get my head around it, and came out more confused than when I went in.

Jesse Powell, CEO of Kraken, has been noticeably critical of this, and I believe he raises good points.

In fairness, CZ has said that he will improve this, and it is still early days. But the information that has been published thus far reveals next to nothing about the inner workings, or financial health, of Binance.

Crypto at a turning point

CZ is now the most important man in crypto, given Binance’s monstrous dominance of the market.

These continued stories do nothing but drag crypto’s reputation through the mud, which is its biggest problem right now. Institutions, mainstream media and non-crypto natives will see these stories and roll their eyes. Many will be fearful of going anywhere near this industry right now.  

In my view, it would be nice to see Binance make a concerted effort to establish true transparency. I think their efforts thus far have been very below-par, and just because they compare favourably to some bad actors in the space does not mean they are doing well in this regard.

Given the chaos in the industry all year, and especially recently with FTX, Binance is obliged to hold itself to a higher standard, whether deserved or not. Happenings like the below – while probably perfectly legitimate – are concerning for the industry, because of what they could mean.

The ethos of crypto is to never trust, but verify. And yet we all depend on the tweets of a collection of CEOS to assure us are funds are OK (and sometimes – just sometimes – certain people have been known to “bend” this truth).

CZ has been very critical and vocal about other players in the space over the last while. Personally, I would rather he separate himself from that mess and focus on getting Binance into a place where it is as transparent as possible.

Because it makes perfect sense that regulators are coming after these centralised crypto players. It is exactly what they should be doing, until we get some more transparency.  

But until that day comes, people have to just “hope” that Binance is acting in good faith and have their ducks in a row. Fro avoidance of doubt, there is no evidence to suggest that this hope would be misguided.

I just thought that one of the main perks of crypto was that you didn’t have to just blindly trust centralised financial institutions to do the right thing…





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Changpeng Zhao is Bullish on Crypto’s Future – what does this mean for Big Eyes Coin and Dogecoin? https://cryptocurrencypanther.com/2022/11/25/changpeng-zhao-is-bullish-on-cryptos-future-what-does-this-mean-for-big-eyes-coin-and-dogecoin/ https://cryptocurrencypanther.com/2022/11/25/changpeng-zhao-is-bullish-on-cryptos-future-what-does-this-mean-for-big-eyes-coin-and-dogecoin/#respond Fri, 25 Nov 2022 12:32:49 +0000 https://cryptocurrencypanther.com/2022/11/25/changpeng-zhao-is-bullish-on-cryptos-future-what-does-this-mean-for-big-eyes-coin-and-dogecoin/

In recent weeks the cryptocurrency world has been shaken to its core by the collapse of the crypto exchange FTX and the nefarious revelations that followed. Changpeng Zhao, the co-founder and CEO of Binance, pulled out of an FTX rescue mission after realizing that it would be too complicated to try to salvage the company as allegations and complications flooded in.

The fallout of the collapse of FTX had a widescale impact causing the biggest crypto, Bitcoin (BTC), to fall to a two-year low of 16K. However, despite the fallout and subsequent crypto gloom, Changpeng Zhao is still bullish on crypto’s future. Zhao has publicly commented that crypto is “the only stable thing” amid the current economic uncertainty and volatility.

Changpeng Zhao’s positive public attitude and continual crypto support are boosting everyone’s mood post-crash. Furthermore, the market does appear to be recovering; Dogecoin (DOGE) is on the rise, and Bitcoin (BTC) and Ethereum (ETH) are also climbing at the time of writing.

So, could Zhao’s positivity affect the future of meme coins like Dogecoin and Big Eyes Coin (BIG)? Let’s look at what Zhao’s positivity could do for meme coins, old and new.

What could Changpeng Zhao’s positivity do for Dogecoin?

Could Changpeng Zhao’s pubic crypto positivity restore Dogecoin to its pre-crash value?

Before the collapse of FTX, Dogecoin was experiencing a massive boom in price, rising 160% and reaching a monthly high of $0.1554 on the 1st of November. This surge in value has been linked to Elon Musk’s purchase of Twitter and the anticipation that crypto champion and Dogecoin supporter Musk could integrate Dogecoin into the mechanics of Twitter itself.

This surge in the value of Dogecoin cushioned its value against the crypto crash, and now Dogecoin is showing signs of recovery. But can it recover and reach $0.1554 again amid the cryptocurrency positivity from Changpeng Zhao?

Zhao’s continual public support of crypto’s future will obviously be good news for Dogecoin, especially in the wake of the recent crypto crash. It’s likely that Dogecoin could climb to its previous heights, but this may depend on whether Elon Musk integrates Dogecoin into Twitter or another project.

Could Changpeng Zhao’s positivity boost Big Eyes Coin?

Another meme coin which is likely to be positively affected by Zhao’s continual support of crypto’s future is the cat-themed meme coin Big Eyes Coin (BIG). The Big Eyes Coin is a new cat on the crypto market block, currently performing well in its presale stages, with over $10 million raised in its 6th presale so far. So let’s see why this meme coin is likely to benefit from the positive publicity from Changpeng Zhao.

Big Eyes Coin has been gaining momentum in its presale for a few months now. The Big Eyes presale has gone from strength to strength, recently launching a media stunt in NYC Times Square which has boosted its global reach.

The reason why this meme coin is poised to benefit from the positive crypto vibes that Changpeng Zhao is because Big Eyes Coin is fresh to the crypto market, and its presale is impressing the wider market at the same time when a lot of crypto news is dire. Like Changpeng Zhao, Big Eyes presale is an oasis of positivity amid wider crypto uncertainty because it offers investors a positive and sustainably conscious crypto with high ROI.

Final Thoughts

Both Big Eyes Coin and Dogecoin are likely to be indirectly positively impacted by Changpeng Zhao’s continual public support of crypto’s future. Crypto’s future will likely usher in more regulations and transparency, which cryptocurrencies make it through the bear market and out the other side will depend on their ability to adapt and capitalize on every opportunity. Dogecoin is already taking every opportunity to grow and find new use cases alongside Elon Musk. Big Eyes Coin presale is flourishing despite the crash, and it’s wasting no time in telling everyone about it.

When you buy BIG tokens, use this promo code “BIGPRIZE87” to get more for your money.

 

For more information on Big Eyes Coin (BIG) and its community, please visit the following links:

Big Eyes on Youtube: https://www.youtube.com/watch?v=-KWJhYnzvNs

The Big Eyes Coin Presale: https://buy.bigeyes.space/

The Big Eyes Website: https://bigeyes.space/

The Big Eyes Telegram: https://t.me/BIGEYESOFFICIAL

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.



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