The first cryptocurrency exceeded $38,000, Binance settled the claims of the US Department of Justice, its CEO Changpeng Zhao left his post, a bitcoin supporter became the president of Argentina, OpenAI fired and returned CEO Sam Altman and other events of the past week.
Bitcoin has updated its annual maximum
This week, quotes of the first cryptocurrency exceeded $38,000 and updated their annual maximum.
At the time of writing, digital gold is trading at $37,400.
Binance exchange BTC/USDT hourly chart. Data: TradingView.
Among the digital assets in the top 10 by capitalization, Ethereum gained the most over the week (+6.6%), while BNB lost the most (-4.2%).
Data: CoinGecko.
The total capitalization of the cryptocurrency market is below $1.5 trillion. Bitcoin dominance index – 52.5%.
Binance will pay $4.3 billion in fines. Changpeng Zhao left the post of CEO of the exchange
On November 21, Binance settled the claims of the US Department of Justice. Bitcoin exchange agrees to pay $4.3 billion in fines, and its CEO Changpeng Zhao (CZ) leaves his post. Richard Teng took his place.
CZ will also personally pay a $50 million fine. He was banned from any participation in the activities of the largest cryptocurrency exchange. The court released Zhao on bail of $175 million. The founder of Binance was allowed to leave the United States; he is a citizen of Canada and the UAE.
What's next for Binance and CZ? Experts assessed the prospects of the exchange after the deal with the US authorities
Prosecutors filed a motion to prevent CZ from leaving the United States until sentencing on February 23, 2024. Prosecutors consider his flight risk “substantial” given his significant wealth outside the United States and minimal ties to the country.. Zhao's lawyers contested the motion.
Analysts believe that Binance will remain among the largest cryptocurrency exchanges in the next two to three years, and the agreement with the US authorities is a favorable outcome, despite the lack of SEC inclusion.
How Binance lost the USA: chronology of confrontation with the authorities
What to discuss with friends?
Netflix director bought Dogecoin instead of filming series and earned $27 million. An unknown person paid $3.1 million in commission for one Bitcoin transaction. Binance placed BLUR – the token grew by 88% in a week. The price of the Near Protocol token has doubled in a month.
Bitcoin supporter Javier Miley becomes President of Argentina
Libertarian Javier Miley won the presidential election in Argentina on November 21. He declared his intention to “burn” the Central Bank and abandon the peso in favor of the dollar to defeat inflation.
Miley sees Bitcoin as “giving money back to its original creator—the private sector.”. However, he did not talk about his intention to accept digital gold as a legal means of payment in the country, as El Salvador and the Central African Republic did.
How the new President of Argentina will affect the crypto market – experts explain
OpenAI fired and brought back CEO Sam Altman
On November 17, AI company OpenAI announced the dismissal of CEO Sam Altman following an internal review.. Major investors demanded that he be reinstated.
According to media reports, shortly before this, OpenAI researchers warned the board of directors about a major discovery in the field of AI, which “could threaten humanity.”
On November 22, the company announced Altman's return. OpenAI will assemble a new board of directors, which will conduct an independent corporate investigation into what happened.
Scandal at OpenAI: why Sam Altman was fired and how they tried to bring him back
Also on ForkLog:
Bitcoin mining difficulty has reached a new high. Jess Powell criticized the SEC after the lawsuit against Kraken. Crypto exchange Bittrex Global announced its closure. The volume of P2P trading on the CommEX bitcoin exchange reached 90 million rubles.
Bitcoin through Raiffeisen, Genesis' lawsuit against Gemini and other crypto industry events
Blast raised $20 million. TVL of the L2 project exceeded $500 million
Project Blast has raised $20 million from Paradigm and Standard Crypto to create “the only Ethereum-based L2 solution with native ETH and stablecoin yields” of 4-5%.
The developers are preparing to launch the mainnet and native token, and the community has already begun the hunt for the airdrop. In less than a week, the total value of assets locked in the protocol reached $532 million, according to DeFi Llama.
What is Blast – a Ponzi scheme or a promising source of passive income?
What else to read?
The traditional digest collected the main events of the week in the field of cybersecurity.
For speeding: what is e/acc and how it could have influenced the dismissal of Sam Altman
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class.. The most important events of recent weeks are in the ForkLog review.