Yesterday night CZ stepped down as #Binance CEO pleading guilty to criminal and civil charges and agreeing to pay $4.3B to the SEC.
As part of his plea deal, he is also facing 18 months in prison but was released quickly last night after paying a hefty $170M bond before his sentencing in Feb, 2024.
Recently, the SEC also delayed all the ETFs that were pretty set on getting approved. Is this all a coincidence? I think not.
Removing CZ and taking regulatory control over the biggest player in Binance right before the big boys like BlackRock, Invesco, and Fidelity step in could be the biggest political ploy made by the US Government in crypto.
There might be more FUD going forward and if you see BTC around $25K, fill your bags because that is the time where big players like BlackRock will enter and ETFs get approved right before the biggest bull run you'll ever see.
#BTC BTC is trading at its highest level since last May as researchers tip that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.
On Oct. 23, Scott Johnson, a finance lawyer, flagged that an updated BlackRock filing indicated the firm may move to seed its iShares Bitcoin Trust with cash this month. Eric Balchunas, senior ETF analyst at Bloomberg, said the filing indicates BlackRock expects to launch the fund in the near future.
“Seeding an ETF is when initial funding is provided… to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in [the] open market on day one,” Balchunas tweeted. “Seeding is typically not a lot of money, just enough to get [an] ETF going… the fact they doing it and disclosing it shows another step in the process of launching.”