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CZ pleads guilty to criminal charges

Edition #88 - 25 NOV 2023


Binance founder Changpeng Zhao agrees to step down, plead guilty, names Richard Teng as new CEO.

• Binance agrees to pay fines totalling $4.3 billion;

• Binance reached agreements with FinCEN, OFAC, CFTC and will credit $1.8B to them and additional forfeiture of $2.51 billion;

• Binance appoints an independent compliance monitor for 3 years;

• CZ plea deal may preserve company's ability to operate;

• CZ to retain majority ownership of Binance;

• CZ can't operate Binance for 3 years from start of agreed up on date.




gaming developments

metaverses & AI


defi

funding rounds

  • ​​​​​​​​​​​​​​​​​​​​Crypto exchange for social trading OMTrade raised $6M in a Seed funding round led by Find Satoshi Lab, Folius Ventures, with participation from Meteorite Labs, Incuba Alpha, KSK Fund.​​

  • ​​Web3 scalability protocol for the automated deployment of dedicated blockspace Saga raised $5M in a Seed funding round led by Placeholder.

  • Ethereum L2 with native yield for ETH and stablecoins Blast raised $20M funding round from Paradigm, Standard Crypto, eGirl Capital, Manifold, Santiago R. Santos.

  • ​​NFT marketplace for pro traders Blur raised $40M funding round .

  • ​​Toolkit for progressive authentication in Web3 Privy raised $18M in a Series A funding round led by Paradigm, with participation from Sequoia Capital, BlueYard Capital, Archetype, Linda Xie.

 


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