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- 17-09-2024
17-09-2024
Fernando Fierro
September 17, 2024
Howdy folks,
🚀🔓 Binance founder CZ is nearing his release from prison, slated for September 29, 2024. Charged with regulatory non-compliance and anti-money laundering violations, CZ will complete his four-month sentence and exit his role as CEO, leaving many to wonder what his next moves will be.
While Richard Teng, the current CEO, reiterates CZ's lifetime ban from Binance, prospects in blockchain, AI, and biotech await him.
In other news:
💰📈 Crypto funds have seen a substantial turnaround with $436 million in inflows, led by Bitcoin after a $1.18 billion outflow streak. While Bitcoin saw significant gains, Ethereum "continued to suffer" with $19 million in outflows, weighed down by concerns over L1 profitability.
Notably, U.S.-based funds topped regional inflows, attracting $416 million, while Canadian funds experienced an $18 million outflow.
🚀🌟 Bybit has scored a significant win in Dubai with preliminary approval for a Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA), signaling its commitment to compliance and global expansion. This milestone underscores its efforts to establish a strong presence in Dubai, following the setup of its international headquarters in 2022.
The move parallels Bybit's regulatory advancements in Kazakhstan, heralding its emergence as a fully licensed platform in the region.
💡🌐 Ethereum co-founder Vitalik Buterin has reignited the debate on whether the crypto industry is still early, despite its current $2 trillion market cap. Buterin stressed the untapped potential of DeFi, especially after the recent affordability improvements in Layer 2 networks, and advancements in ZK technology.
Meanwhile, Ikigai CIO Travis Kling argues that "crypto is experiencing pervasive quiet quitting" due to stagnation and unfulfilled promises.
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