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Ghosts of the past haunt Changpeng Zhao: They filter alleged strategy to evade regulations


We are on the eve of Halloween and a ghost, or problem, from the past has risen from the dead to annoy the CEO of the largest crypto exchange, Changpeng Zhao.

Binance in crypto trouble?

Changpeng Zhao, CEO of Binance, today denied on Twitter a report published by Forbes that Binance, the largest crypto exchange, had created an “elaborate corporate structure designed to intentionally mislead regulators and surreptitiously profit from crypto investors. in United States”.

According to Forbes, a document was leaked in 2018 outlining an alleged Binance strategy to create a corporate structure designed to intentionally mislead regulators. Does Changpeng Zhao want your company to evade regulations? He assures that no.

Forbes in his article said that he tried to talk with CZ and his compliance director, Samuel Lim, however they did not get answers.

An hour after the article was published, Changpeng Zhao assured that said document was not prepared by a Binance employee. He also emphasized that anyone can generate a strategy, but that means that Binance complies with it.

In addition, Changpeng Zhao ensures that he has always operated within the limits of the regulations.

Bitcoin, scared for Halloween?

The Bitcoin price of Bitcoin (BTC) rallied 2% after a slight drop overnight yesterday. This happened after the European Central Bank (ECB) reported that it is ready to unleash new stimulus.

Bitcoin (BTC) has managed to forge itself as a new safe haven asset class. Consequently, news like today’s, where the ECB reports a new wave of stimulus, turns out to be flattering for the crypto leader.

However, we must bear in mind that on October 30 approximately USD 750 million in Bitcoin options contracts expire, which could add volatility to the price of the crypto.

Certainly in other similar situations the price of Bitcoin was not affected, however, everything in the leading crypto is a mystery.

At the moment, Bitcoin remains in an uptrend and does not seem to want to end it. However, the next few days will undoubtedly be interesting for crypto as the US elections approach.

The crypto market withdraws its attention from DeFi and focuses on Bitcoin

According to an analysis of crypto market data by CoinTelegraph, it reveals that declining trading volumes on decentralized crypto exchanges (DEX) suggest investors are refocusing on Bitcoin.

Certainly Bitcoin had a time where its relative stability could be boring for crypto investors and, precisely, the DeFis emerged as an alternative.

Mega adoption for the leading crypto in 2030

Brian Estes, founder of investment firm Off The Chain Capital, pointed out during an interview with CoinTelegraph that by 2030 90% of Americans will be using crypto and Bitcoin.

He also assured that Bitcoin will be a stable part of the world economy.

Let us remember that the level of adoption of Bitcoin and, in general, of crypto, has been a key issue that has been debated in the community.

Bitcoin is the clear crypto winner of the US elections

Barry Silbert, CEO of Grayscale, assured on Twitter that regardless of the outcome of the US presidential election, Bitcoin wins.

Clearly Bitcoin is in its prime and everyone in the crypto market celebrates it with great enthusiasm.

Bitcoin Hashrate Slumps, Fees Keep Rising

As we previously reported on CryptoTrend, Bitcoin’s transaction fees are rising and reaching levels that affect retail investors.

According to the latest data from BitInfoCharts, the average Bitcoin transaction fee is $ 11,673, a maximum of 2 years.

All this as the hashrate has fallen as a result of the end of the rainy season in China and the demand for Bitcoin has increased as a result of its price increase.

As for the Hashrate, on October 24 it was 148.8 EHash / s, while yesterday it was 101.15 EHash / s.

In a few lines …

  • There is already more than $ 2 billion in Bitcoins found on the Ethereum Blockchain, according to Dune Analytics.
  • Colombia advances in the crypto market especially in the installation of crypto ATMs.
  • JPMorgan invites banks and Fintechs to develop its renewed Blockchain network.

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