Former Binance CEO Changpeng Zhao has been sentenced to four months in prison, according to a report from Bloomberg on April 30. Zhaoโs final sentence is considerably less than the three-year prison sentence prosecutors were seeking โ more than twice the recommended guideline for the relevant charges. A separate report from Fortune noted that Zhao will pay a $50 million personal fine, allowing him to keep most of his $43 billion in personal wealth. Zhao will be the wealthiest individual in the US prison system, according to the report.
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Forwarded from Crypto | Bitcoin | Ethereum | Altcoin | News
1. Several macro data is being released this week and had investors spooked. Particularly, there is a declining probability of US interest rate cuts this month, and rumors of possible rate hike considerations
2. Over the last 24 hours, 115,804 traders were liquidated for a whopping $387.91m.
3. US Spot BTC ETFs saw an outflow of $161m yesterday
4. Hong Kongโs Bitcoin and Ether ETFs failed to meet expectations
5. RSI divergence indicators suggest a bearish trend, as it was in the "overbought" area during the US BTC ETFs launch
6. More BTC miners approach shutdown levels amid price drop below $57,000
It is important to note that during the 2015-2017 bull market, over 13 different 20% pullbacks occured. Price swings are quite normal and sometimes good for the markets.
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Binance co-founder Changpeng Zhao, commonly known as CZ, expressed his thanks to his supporters following his sentencing to four months in prison over breaking compliance rules. Zhao was sentenced in Seattle on Tuesday after pleading guilty to anti-money laundering violations. He has also agreed to pay a $50 million fine. The former Binance CEO said that he plans to spend the next chapter of his life on education, where he has started a project called Giggle Academy.
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Spot bitcoin exchange-traded funds in the U.S. recorded $563.7 million in total net outflows on Wednesday โ the largest total net daily outflows since their debut โ according to data from SosoValue. Fidelityโs FBTC experienced the largest net outflows among the ETFs, with over $191 million moving out of the fund. That exceeded the $167.3 million net outflow recorded by Grayscaleโs GBTC, SosoValue data showed.
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๐บ๐ธ Texas A&M Professor Korok Ray presents that ๐ฐ Bitcoin โis the first time in the history of human kind where we see the value of scarcity illustratedโ
โ๏ธ @CryptoWorldNews๐
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CleanSpark has released its first monthly unaudited Bitcoin mining and operations update since the halving. The company exceeded 17 EH/s in hashrate, mining an impressive 721 BTC with a record daily high of over 48 BTC. CEO Zach Bradford highlighted the companyโs monthly gains in efficiency metrics as they deploy advanced S21 machines across their expanding facilities. These improvements have amplified mining output and optimized operational costs.
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Bitcoinโs recent market correction that dragged the worldโs largest cryptocurrency near the low of $56,500 turned out to be a good opportunity for high-profile investors. Data shared by CryptoQuant CEO Ki Young Ju revealed that whales have accumulated a whopping 47,000 BTC โ worth more than $2.8 billion in current price โ over the past 24 hours alone. This shopping spree signals the beginning of โa new eraโ for the primary cryptocurrency, according to the exec.
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Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. โWe view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future,โ the company stated.
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๐ช๐บ European Banking Giant Embraces BlackRockโs ๐ฐ Bitcoin ETF
BNP Paribas, the second largest bank in Europe, took a major step in the digital asset market by buying BlackRockโs Spot Bitcoin ETF shares. According to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), BNP Paribas bought 1,030 IBIT shares of BlackRock during the first quarter of 2024. Furthermore, the multinational bank spent over $40.47 per share, totaling $41,684 for the acquisition. This amount is lower than the price of a single bitcoin, which is currently trading at over $58,000.
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โ๏ธ @CryptoWorldNews๐
BNP Paribas, the second largest bank in Europe, took a major step in the digital asset market by buying BlackRockโs Spot Bitcoin ETF shares. According to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), BNP Paribas bought 1,030 IBIT shares of BlackRock during the first quarter of 2024. Furthermore, the multinational bank spent over $40.47 per share, totaling $41,684 for the acquisition. This amount is lower than the price of a single bitcoin, which is currently trading at over $58,000.
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๐บ๐ธ SEC Slaps Robinhood With Wells Notice Over Securities Law Violations
Robinhood Markets Inc. has become the next crypto trading platform to receive a threat of legal action from the Securities and Exchange Commission (SEC), adding to the sizable list of industry giants on the agencyโs hit list. Per the SECโs website, Section 15(a) makes it unlawful for broker-dealers to effect or induce the purchase or sale of securities unless that broker is registered with the SEC. Meanwhile, Section 17A pertains to defrauding customers of their money through material misstatements or omissions.
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โ๏ธ @CryptoWorldNews๐
Robinhood Markets Inc. has become the next crypto trading platform to receive a threat of legal action from the Securities and Exchange Commission (SEC), adding to the sizable list of industry giants on the agencyโs hit list. Per the SECโs website, Section 15(a) makes it unlawful for broker-dealers to effect or induce the purchase or sale of securities unless that broker is registered with the SEC. Meanwhile, Section 17A pertains to defrauding customers of their money through material misstatements or omissions.
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- Michael Saylor
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Grayscaleโs spot bitcoin ETF ended a 78-day streak of outflows after registering two consecutive days of net inflows. Bloomberg ETF Analyst James Seyffart told The Block while he's not absolutely sure what might have caused the swing, there could be a few different explanations. "It could be a short-term tactical trade or pairs trade of sorts. Where the fee is far less relevant over shorter time frames," he said.
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