New Binance CEO Richard Teng Addresses $4.3 Billion Fine: Statement
Binance (BNB), world's largest crypto exchange, has very strong fundamentals on eve of whopping fine payment.
As community discusses whether the latest proof of reserves (PoR) is valid and complete, new CEO Richard Teng reassures everyone that Binance (BNB) remains a strong business with robust revenues and profits.
Binance (BNB) continues to run the world's largest crypto exchange by volume, with a debt-free capital structure and modest expenses. All of its fundamentals are "very strong," while revenue streams and profits remain robust.
This statement was shared by the new Binance (BNB) CEO Richard Teng as a response to Coinbase director Conor Grogan. Grogan opined that if the most recent proof-of-reserves (PoR) report is valid, Binance (BNB) would not need to sell its crypto resources to pay a $4.3 billion fine. Even without "off-chain cash balances or funds held in wallets not in PoR," Binance (BNB) publicly disclosed reserves would be enough for the repayment program.
Besides a personal $50 million fine, CZ pled guilty to charges related to operating an unlicensed money transfer business, conspiracy and violating sanctions restrictions. In total, Binance (BNB) has to pay a substantial fine of $4.3 billion. Out of this sum, Binance (BNB) must pay $1.35 billion to the U.S. CFTC, which is the largest fine ever imposed by the law enforcement body. Binance (BNB) cofounder Changpeng Zhao stepped down as CEO. Per his statement, he will no longer be involved in the exchange's management or operations.
🪙🪙 Forbes Pick Of The Top Artificial Intelligence (AI) Cryptocurrencies 💰💰
1. Injective (INJ). Market cap: £1.1 billion
Injective (INJ) is a finance-focused AI crypto project, specifically designed to provide tools for building decentralised finance (‘DeFi’) applications.
The Graph is a protocol for indexing and querying data from blockchains in a similar way that Google indexes and queries data from websites. Indexing blockchain data can be challenging, but The Graph aims to change that by organising data into smaller ‘subgraphs’.
3. Render (RNDR). Market cap: £724 million #RENDER
Render allows artists to harness the computing power necessary to render computer graphics from crypto miners who are willing to rent out their graphics processing units (GPUs). The project was launched in 2017.
4. Oasis Network (ROSE). Market cap: £378 million #ROSE
Oasis Network describes itself as the ‘first privacy-enabled blockchain platform for open finance and a responsible data economy’.
5. Fetch.ai (FET). Market cap: £253 million #FetchAI
Fetch.ai is an AI and machine learning platform based on the blockchain. Fetch.ai is all about automating business tasks such as data processing and trading. Its native cryptocurrency, FET, is used to pay for transactions on the network.
6. Ocean Protocol (Ocean). Market cap: £194 million #OCEAN
Ocean Protocol is a Ethereum-blockchain-based platform that allows businesses and individuals to exchange and monetise data and data-based services. This might involve making data available to researchers and startups without the data being relinquished by the data holders. $INJ $GRT $RNDR
Decentraland #MANA #MANAUSDT rejected a break below resistance at 0.2800 level, price closed above and formed a three soldiers candle pattern (strong sign or reversal.)
Price proceeded to break out the trend line on the monthly timeframe, forming another buying confirmation.
If the bullish momentum keeps going, we could see a 190% short term move to the upside, and a 1297% move in the long run.
currently holding a small size future position with maximum leverage ( stop loss in place )$
Decentraland #MANA #MANAUSDT rejected a break below resistance at 0.2800 level, price closed above and formed a three soldiers candle pattern (strong sign or reversal.)
Price proceeded to break out the trend line on the monthly timeframe, forming another buying confirmation.
If the bullish momentum keeps going, we could see a 190% short term move to the upside, and a 1297% move in the long run.
currently holding a small size future position with maximum leverage ( stop loss in place )$