Daily Brief

Binance and CZ Pay Up

gm Bankless Nation, CZ is out as Binance pays a mega-penalty...
Nov 21, 20233 min read
Binance & CZ Pay Up
Published on Nov 21, 2023
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CZ Resigns
  1. 4️⃣ CZ pleads guilty. The DOJ made its move. $4.3B fine against Binance. CZ is out. What does this all mean? Full breakdown further below.
  2. 😮‍💨 SEC sues Kraken. Gary won't quit. The SEC sued Kraken for acting as an unregistered securities exchange.
  3. ☠️ Bittrex is just about dead. The global exchange will shut down trading on Dec 4, though withdrawals will still be possible.
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Markets Unfazed by DOJ

📊 Crypto shrugs off DOJ: The DOJ probably had the opportunity to take a Binance kill shot, but it didn't. It instead levied a hefty fine that Binance can likely afford while forcing CZ to step down and face criminal charges while still holding onto his ownership. BNB barely budged and the crypto market sighed in relief.

Prices as of 4pm ET 24hr 7d
Crypto $1.39T ↘ 1.7% ↗ 2.2%
BTC $36,786 ↘ 1.6% ↗ 3.5%
ETH $1,985 ↘ 1.9% ↗ 0.3%
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What Binance News Means for Crypto
Bankless Author: Jack Inabinet

The US Government delivered a record-breaking judgment against Binance and CZ, leading to felony pleas, billions in fines and a regime change.

Here's what you need to know about the Binance judgment 👇


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