Richard Teng, the new CEO of Binance, the largest cryptocurrency exchange by trading volume, took to his Twitter/X account to issue a comment on the crucial milestone reached today by Bitcoin in terms of market capitalization value.
Richard Teng, the new CEO of Binance, the largest cryptocurrency exchange by trading volume, took to his Twitter/X account to issue a comment on the crucial milestone reached today by Bitcoin in terms of market capitalization value.
The world’s largest cryptocurrency not only surpassed the $51,000 level today, but also regained $1 trillion in market capitalization for the first time since 2021. Teng tweeted that this was a “huge milestone for Bitcoin.”
Earlier today, on-chain data aggregator Glassnode noted that with this increase Bitcoin surpassed giants such as Tesla, Walmart and also the fund of the rigorous Bitcoin critic Warren Buffett – Berkshire Hathaway.
Bitcoin continued to pump today in light of massive new inflows witnessed by Bitcoin spot ETFs: over $600 million yesterday and nearly $500 million the day before. SkyBridge Capital founder Anthony Scaramucci commented on that today, stating that inflows to BlackRock’s IBIT ETF have officially crossed the $5 billion level, leaving the other Bitcoin ETFs far behind.
Binance CZ faces prison sentence
As previously reported by Guru-Investingrenowned Binance founder and former CEO, crypto billionaire Changpeng Zhao (widely known as CZ), may have to serve a prison sentence for charges brought against him by the US Department of Justice. US (DOJ). ), according to Bloomberg.
While a 10-year prison sentence seems unlikely for him, CZ can be jailed for 18 months, which is in contrast to other cryptocurrency platform leaders who have gotten into trouble with the law. In particular, CZ was accused of violating the Bank Secrecy Law.
CZ initially pleaded guilty to the Department of Justice and Binance paid a $4.3 billion fine, and CZ resigned from his leadership position at Binance.
He planned to dedicate more time to himself and conduct selected consultancies among young entrepreneurs. Additionally, CZ tweeted that he was curious about increasing cryptocurrency funding for biotech research.
