In the dynamic realm of cryptocurrencies, Shiba Inu [SHIB] has once again become a focal point for enthusiasts. The recent substantial token burn initiated by the Shiba community has generated interest and discussions, drawing attention despite a marginal decline in prices observed within the past twenty-four hours.
Shiba Inu’s Price Trends Despite encountering a 2.44% downturn in the last twenty-four hours, settling at $0.000008391, SHIB maintains a significant presence in the cryptocurrency market. The global market cap also experienced a slight reduction of 2.44%, as indicated by market charts.
In the dynamic realm of cryptocurrencies, Shiba Inu [SHIB] has once again become a focal point for enthusiasts. The recent substantial token burn initiated by the Shiba community has generated interest and discussions, drawing attention despite a marginal decline in prices observed within the past twenty-four hours.
Shiba Inu’s Price Trends Despite encountering a 2.44% downturn in the last twenty-four hours, settling at $0.000008391, SHIB maintains a significant presence in the cryptocurrency market. The global market cap also experienced a slight reduction of 2.44%, as indicated by market charts.
Binance co-founder and CEO Changpeng Zhao, popularly known as CZ, has agreed to step down from his role at the exchange on Tuesday, per reports. This is coming as the United States Department of Justice (DOJ) prepares to announce that it’s secured a $4.3 billion settlement with the world’s largest crypto exchange, Binance.
Binance CEO Changpeng Zhao (CZ) resigns, expected to plead guilty to criminal charge Binance, CEO, Chinpeng Zao The agreement with the U.S. Department of Justice and other U.S. regulators is expected to be announced by Attorney General Merrick Garland at a press conference in Washington at 3 p.m. ET. Binance regulatory hurdles The expected deal with the United States Department of Justice would bring to a close a years-long probe into the crypto exchange.
In March, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against the crypto exchange and Zhao, alleging they went to great lengths to do business with United States customers while not following the country’s regulations. The suit spelled out a litany of alleged offenses that harkened back to the wild west days of cryptocurrencies where no rules applied, despite Binance claiming it was playing by the rules.
The suit said the firm had built several methods to allow customers in the United States to do business on their exchange, but did little to comply with United States financial regulations. Following that, in June, the Securities and Exchange Commission filed its own lawsuit against Binance, alleging that a separate United States trading operation the exchange created strictly for American customers that was in line with United States regulations, was all a hoax that continued to allow United States customers to trade on the much more loosely regulated overseas exchanges.
The suit basically said the company was avoiding all kinds of regulatory scrutiny. This took a toll on Binance as many top executives resigned from the exchange.