The Binance (BNB) ecosystem has continued to grow against all odds!
Despite increased scrutiny, particularly from the United States, the Binance ecosystem has seen impressive growth. Re-entering the Indian market amidst regulatory changes, the Binance cryptocurrency exchange proudly announced a major milestone: it now boasts a whopping 200 million registered users worldwide.
While regulatory pressures mount in the West, Binance is solidifying its position as a global powerhouse, extending its influence beyond traditional Western markets.
As Bitcoin struggles to surpass the $72k mark, there’s been a notable shift of crypto investment towards altcoins. The recent approval of spot Ether ETFs in Hong Kong and the US signals a growing interest among institutional investors.
BNB, Binance’s native coin, has had an impressive journey this year, surging over 200 percent since January to flirt with its all-time high of around $700. However, despite its strong performance, this heavyweight altcoin recently dipped 8 percent, settling around $643 as of Monday.
The excitement of BNB’s recent price surge to a new all-time high of around $717 coincided with a somber event: former Binance CEO Changpeng Zhao began a four-month stint behind bars. Zhao’s US incarceration stems from Binance’s alleged disregard for US money laundering regulations since its inception. Already, Binance and Zhao have had to pay a hefty $4.3 billion fine to the US government, alongside other settlement agreements.
Ironically, the US crackdown on Binance seems to have fueled its rise. Despite regulatory challenges, the company’s valuation has surpassed the $100 billion mark. With Binance executives pocketing a hefty 80 million BNB during the initial coin offering, industry experts estimate CZ’s (Changpeng Zhao) net worth to be around $38.5 billion.
Also Read : Big Week Ahead for Bitcoin, CPI, PPI, & FOMC with Dot-Pot: Here’s What to Expect From the BTC Price Rally!
Looks like even jail time can’t stop the Binance train!
Anthony Pompliano’s ProCap BTC has acquired 3,724 Bitcoin for about $387 million to strengthen its…
Chainlink (LINK), an established decentralized oracle network, has announced a strategic partnership with Mastercard Inc.…
The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as…
The XRP community is as fiery as ever, with price debates, predictions, and arguments lighting…
China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB).…
Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle…