Binance's CZ Stuck in U.S.
Standard Chartered China Adopts Digital Yuan, Magic Eden's New Cross-chain Wallet, SEC Still Probing Binance
Welcome to Coinfeeds Daily Digest! Today we cover the largest, around $346 million, weekly inflow to crypto funds in 2023, continuing developments in Binance's story as the company is being further investigated by the SEC for suspected fraudulent activity, CZ is to stay in the US leading up to his sentencing in February, and the new CEO outlines a vision for the future post-CZ. In other news, Solana MEV solutions company Jito Foundation introduced its governance token JTO, Tornado Cash was delisted from Binance and plummeted 56%. More below!
Market Update
News
Binance Founder CZ Stuck In The US For Now
The U.S. Department of Justice is concerned that Changpeng Zhao poses a flight risk and is advocating for him to remain stateside until his sentencing. They have successfully argued for Zhao to stay put in the U.S. until a further review is conducted, leading up to his sentencing in February. | Read More
Standard Chartered Adopts Digital Yuan
Standard Chartered's China division has taken a significant step by offering exchange services for China's digital yuan. This move positions Standard Chartered as one of the pioneering foreign financial institutions to engage directly with China's digital currency system. | Read More
Crypto Funds Surge with $346M Inflows
According to a recent report by CoinShares, the cryptocurrency industry saw an influx of $346 million last week alone, with bitcoin and ether-based funds leading the charge. This surge is largely attributed to the growing anticipation of a U.S.-based spot bitcoin ETF. | Read More
Jito Foundation Unveils JTO Token
The Jito Foundation, an organization dedicated to developing Solana’s blockchain ecosystem, has announced the launch of a new governance token called JTO. This move represents a significant step in the evolution of the Solana-based liquid staking protocol and the broader DeFi. | Read More
SEC Probes Binance.US Over FTX-Like Fraud Concerns
The SEC is intensifying its scrutiny over Binance.US, the American arm of the global cryptocurrency exchange Binance, amid concerns of potential fraudulent activities reminiscent of those seen in the collapse of FTX. Central to the SEC's allegations is the suspicion that Binance.US created a 'backdoor'. | Read More
Magic Eden Launches Cross-Chain Wallet
Magic Eden, a prominent NFT marketplace originally based on the Solana blockchain, has announced the launch of a groundbreaking cross-chain wallet. This innovative wallet is designed to streamline the experience of managing NFTs and cryptocurrencies across blockchains | Read More
Binance's New CEO Outlines 'Responsible Growth' Vision
Binance is embarking on a new chapter with CEO Richard Teng at the helm, who has recently shared his vision for the company's future. Teng's leadership comes after the company faced legal challenges and a significant compliance overhaul. This new direction is focused on "responsible growth". | Read More
SHIB Token Burn Soars by 499,416%
The Shiba Inu community has recently witnessed an extraordinary event in the world of cryptocurrency: a massive increase in the rate at which SHIB tokens are being 'burned'. The burn rate skyrocketed by an astounding 499,416% in just 24 hours, a move that has caught the attention of investors and enthusiasts alike. | Read More