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Binance Allegedly Supports Terra Classic’s USTC Revival Plan Amidst LUNC Burn Campaign
Binance, the world’s largest cryptocurrency exchange, has made significant strides in supporting the Terra Luna Classic community. Recently, Binance community associate Diana posted a cryptic message on the X platform suggesting that Binance might be involved in the USTC rebirth. This post has sparked a lot of interest in the community.
Binance’s Contribution to LUNC Burn Campaign
Binance has played a significant role in the LUNC burn campaign, which aims to decrease the token quantity in the market. The exchange has burnt over 62 billion LUNC, which is 49% of the total tokens burnt by the community. Thus, the community has a burning history of over 126 billion tokens.
As outlined in our recent blog post, over 1.017 trillion Terra Luna Classic (LUNC) tokens, valued at $70.15 million, have been staked. The staking ratio has increased from 14.83% to 15.01%.
The USTC repeg plan has encountered some challenges, which has left the community relying on Terraform Labs and the Luna Foundation Guard to burn USTC from their wallets. The news of Binance’s possible participation in the USTC revival plan is considered a game-changer that can bring new life to the token.
The burn campaign is part of the larger plan to stabilize the value of #LUNC✅ . However, the Terra Luna Classic community has faced some obstacles, and the monthly burn mechanism from Binance has been quite helpful. #changpengzhao , the former CEO of Binance, also disclosed that Binance invested $3 million in Terra (currently #TerraLunaClassic ) and has not traded or sold any of the $LUNC tokens, which shows Binance’s long-term interest.
Diana’s recent post on the X platform, reposted by the well-known community member Mr. Diamondhandz1, mentioned that Binance could also be involved in the #USTC revival plan. This has raised hope among the community members who have been anticipating positive changes in the $USTC market.
#BinanceHODLerBANANA
Binance, the world’s largest cryptocurrency exchange, has made significant strides in supporting the Terra Luna Classic community. Recently, Binance community associate Diana posted a cryptic message on the X platform suggesting that Binance might be involved in the USTC rebirth. This post has sparked a lot of interest in the community.
Binance’s Contribution to LUNC Burn Campaign
Binance has played a significant role in the LUNC burn campaign, which aims to decrease the token quantity in the market. The exchange has burnt over 62 billion LUNC, which is 49% of the total tokens burnt by the community. Thus, the community has a burning history of over 126 billion tokens.
As outlined in our recent blog post, over 1.017 trillion Terra Luna Classic (LUNC) tokens, valued at $70.15 million, have been staked. The staking ratio has increased from 14.83% to 15.01%.
The USTC repeg plan has encountered some challenges, which has left the community relying on Terraform Labs and the Luna Foundation Guard to burn USTC from their wallets. The news of Binance’s possible participation in the USTC revival plan is considered a game-changer that can bring new life to the token.
The burn campaign is part of the larger plan to stabilize the value of #LUNC✅ . However, the Terra Luna Classic community has faced some obstacles, and the monthly burn mechanism from Binance has been quite helpful. #changpengzhao , the former CEO of Binance, also disclosed that Binance invested $3 million in Terra (currently #TerraLunaClassic ) and has not traded or sold any of the $LUNC tokens, which shows Binance’s long-term interest.
Diana’s recent post on the X platform, reposted by the well-known community member Mr. Diamondhandz1, mentioned that Binance could also be involved in the #USTC revival plan. This has raised hope among the community members who have been anticipating positive changes in the $USTC market.
#BinanceHODLerBANANA
🏦 Paxos Receives No-Action Letter from SEC on BUSD 📜
Paxos, the issuer of Binance's BUSD stablecoin, received a notification from the SEC stating no enforcement actions are planned.
🔍 In February 2023, the NYDFS began investigating #Paxos and later ordered it to stop issuing BUSD. The SEC also threatened to sue, claiming BUSD was a security, a claim Paxos strongly disputed.
📅 In June 2023, the SEC filed 13 charges against Binance and its founder, #changpengzhao , including allegations of unregistered BUSD offerings. Paxos continued supporting BUSD redemption and conversion operations until February 2024.
💰 According to CoinGecko, $69M worth of #BUSD remains in circulation, with a 24-hour trading volume of $992,000.
⚖️ In June 2024, Judge Amy Berman Jackson partially dismissed the SEC's lawsuit against Binance, siding with the #exchange on BUSD offering claims.
#CPI_BTC_Watch
Paxos, the issuer of Binance's BUSD stablecoin, received a notification from the SEC stating no enforcement actions are planned.
🔍 In February 2023, the NYDFS began investigating #Paxos and later ordered it to stop issuing BUSD. The SEC also threatened to sue, claiming BUSD was a security, a claim Paxos strongly disputed.
📅 In June 2023, the SEC filed 13 charges against Binance and its founder, #changpengzhao , including allegations of unregistered BUSD offerings. Paxos continued supporting BUSD redemption and conversion operations until February 2024.
💰 According to CoinGecko, $69M worth of #BUSD remains in circulation, with a 24-hour trading volume of $992,000.
⚖️ In June 2024, Judge Amy Berman Jackson partially dismissed the SEC's lawsuit against Binance, siding with the #exchange on BUSD offering claims.
#CPI_BTC_Watch
Inflation makes you poorer, Bitcoin has no inflation says world's largest crypto exchanges ceo changpeng zhao...!!💯
#changpengzhao #czbinance #BTC #Bitcon #cryptoonindia
#changpengzhao #czbinance #BTC #Bitcon #cryptoonindia
Winners will get a chance to pitch to top tier VCs in South Korea in an investment round with participation from DWF Labs, Binance Labs, Hashed, Samsung Next, Blocore, Vestigium, and ROK Capital.
#Binance #BNB #czbinance #changpengzhao #nfa
#Binance #BNB #czbinance #changpengzhao #nfa
Changpeng Zhao, aka CZ, recently put out a tweet highlighting the recent shutdown of cryptocurrency-friendly banks.
#czbinance #changpengzhao #BTC #nftcommunity #cryptoonindia
#czbinance #changpengzhao #BTC #nftcommunity #cryptoonindia
"No one can print bitcoin out of thin air says binance ceo cz after $300 Billion fiat print...!!💯
#czbinance #changpengzhao #moneyprinter #bullmarket #cryptoonindia
#czbinance #changpengzhao #moneyprinter #bullmarket #cryptoonindia
#Binance CEO #changpengzhao has denied claims made by the US Commodity Futures Trading Commission (CFTC) that he violated compliance rules to solicit US users.
Don't say i wish i got in early. Say I wish I bought when there was #fud #dyor #crypto2023
Not a financial Advice.
Don't say i wish i got in early. Say I wish I bought when there was #fud #dyor #crypto2023
Not a financial Advice.
🚀🔥 Exciting Announcement from Binance Co-Founder Changpeng Zhao! 🔥🚀
📢 Breaking News:
🌟 Changpeng Zhao, the co-founder of Binance, has just teased a new project that he'll be unveiling soon! In a recent post on X, CZ hinted at an upcoming "Education project" that aims to empower investors and cryptocurrency newcomers with knowledge about the market.
📚 This new venture marks CZ's continued commitment to educating and empowering the crypto community, even after stepping down as CEO of Binance.
🔍 While details about the project remain scarce, CZ's announcement has stirred up curiosity and speculation within the crypto world. What could this innovative project entail? Only time will tell!
💡 Keep an eye out for further updates from Changpeng Zhao as he unveils more details about this exciting new endeavor. Who knows, it could even involve collaborations with other prominent figures in the crypto space!
🌐 Stay tuned for more updates on this intriguing development! #changpengzhao #GiggleAcademy #CryptoEducation #StayTuned 🌐
📢 Breaking News:
🌟 Changpeng Zhao, the co-founder of Binance, has just teased a new project that he'll be unveiling soon! In a recent post on X, CZ hinted at an upcoming "Education project" that aims to empower investors and cryptocurrency newcomers with knowledge about the market.
📚 This new venture marks CZ's continued commitment to educating and empowering the crypto community, even after stepping down as CEO of Binance.
🔍 While details about the project remain scarce, CZ's announcement has stirred up curiosity and speculation within the crypto world. What could this innovative project entail? Only time will tell!
💡 Keep an eye out for further updates from Changpeng Zhao as he unveils more details about this exciting new endeavor. Who knows, it could even involve collaborations with other prominent figures in the crypto space!
🌐 Stay tuned for more updates on this intriguing development! #changpengzhao #GiggleAcademy #CryptoEducation #StayTuned 🌐
Bitcoin's Rollercoaster: Stalled at $38K, Altcoins Find Stability
#BTC 's price has hit a plateau, hovering just below $38,000, after a week of volatility fueled by the Binance-US authorities saga. The recent settlement deal and the departure of Binance's CEO, #changpengzhao triggered a dip to $36,600, followed by a rapid recovery to an 18-month high of $38,500. However, the momentum was short-lived, leading to a retracement back to the $38,000 range.
Despite the market cap remaining at $740 billion and bitcoin's dominance at 51.3%, altcoins have experienced a more stabilized period. Daily fluctuations show minor losses for XRP, BNB, SOL, and DOGE, while ETH, ADA, AVAX, MATIC, and DOT see marginal gains. Notably, Chainlink and Tron stand out with around a 3% spike.
In the weekly landscape, BLUR emerges as the top gainer with a remarkable 70% surge, reaching $0.6. Following closely are STEPN (34%), ApeCoin (30%), MINA (30%), and Klaytn (27%). The overall crypto market cap has seen a slight increase, nearing $1.450 trillion on CMC. As the crypto journey continues, the community awaits the next chapter in the market's unpredictable narrative. #Bitcoin2024 #CryptoMarketPredictions #altcoins $BTC $BLUR $SHIB
#BTC 's price has hit a plateau, hovering just below $38,000, after a week of volatility fueled by the Binance-US authorities saga. The recent settlement deal and the departure of Binance's CEO, #changpengzhao triggered a dip to $36,600, followed by a rapid recovery to an 18-month high of $38,500. However, the momentum was short-lived, leading to a retracement back to the $38,000 range.
Despite the market cap remaining at $740 billion and bitcoin's dominance at 51.3%, altcoins have experienced a more stabilized period. Daily fluctuations show minor losses for XRP, BNB, SOL, and DOGE, while ETH, ADA, AVAX, MATIC, and DOT see marginal gains. Notably, Chainlink and Tron stand out with around a 3% spike.
In the weekly landscape, BLUR emerges as the top gainer with a remarkable 70% surge, reaching $0.6. Following closely are STEPN (34%), ApeCoin (30%), MINA (30%), and Klaytn (27%). The overall crypto market cap has seen a slight increase, nearing $1.450 trillion on CMC. As the crypto journey continues, the community awaits the next chapter in the market's unpredictable narrative. #Bitcoin2024 #CryptoMarketPredictions #altcoins $BTC $BLUR $SHIB
Crypto giant Binance's founder, Changpeng Zhao (CZ), is now serving a 4-month prison sentence in California. This comes after he pleaded guilty to charges related to allowing money laundering on his exchange.
Prosecutors had initially sought a much harsher sentence of 3 years, but Zhao received leniency due to his admission of guilt. He expressed remorse for failing to implement proper anti-money laundering measures at Binance.
This sentencing is part of a larger settlement Zhao reached with the US government in November 2023. The deal concluded a lengthy investigation into Binance and resulted in Zhao's resignation as CEO. He was also hit with a personal fine of $50 million, on top of the $4.3 billion in fines imposed on Binance itself.
CZ's case isn't an isolated incident. The crypto industry is facing a wave of legal troubles. This is further highlighted by the recent 25-year sentence for Sam Bankman-Fried, founder of the collapsed FTX exchange, who was convicted of fraud.
#BinanceSquareFamily #czprison #prison #changpengzhao $BNB
Prosecutors had initially sought a much harsher sentence of 3 years, but Zhao received leniency due to his admission of guilt. He expressed remorse for failing to implement proper anti-money laundering measures at Binance.
This sentencing is part of a larger settlement Zhao reached with the US government in November 2023. The deal concluded a lengthy investigation into Binance and resulted in Zhao's resignation as CEO. He was also hit with a personal fine of $50 million, on top of the $4.3 billion in fines imposed on Binance itself.
CZ's case isn't an isolated incident. The crypto industry is facing a wave of legal troubles. This is further highlighted by the recent 25-year sentence for Sam Bankman-Fried, founder of the collapsed FTX exchange, who was convicted of fraud.
#BinanceSquareFamily #czprison #prison #changpengzhao $BNB
Breaking News: 🚨
Binance CEO Changpeng Zhao Resigns
Binance's Global Markets President, Richard Teng, was appointed as the CEO of Binance, which was vacated by Changpeng Zhao.
#RichardTeng #cz #changpengzhao
Binance CEO Changpeng Zhao Resigns
Binance's Global Markets President, Richard Teng, was appointed as the CEO of Binance, which was vacated by Changpeng Zhao.
#RichardTeng #cz #changpengzhao
News: Binance CEO Changpeng Zhao on Layoffs Rumors: 'Another Day, Another FUD'
Changpeng “CZ” Zhao has answered the rumors of mass layoffs at Binance, with reports stating that up to 20% of the current workforce of the exchange might be forced to abandon their positions due to poor market conditions. Zhao declared this was another attempt at spreading FUD on Binance, explaining that the company has a constant “bottom-out policy.”
Changpeng Zhao Calls Layoff Reports ‘FUD’:
Changpeng Zhao, CEO of Binance, has answered the rumors about mass layoffs on the exchange. According to Colin Wu, a Chinese cryptocurrency reporter, Binance had plans for laying off a significant part of its workforce, stating that market rumors indicated that at least 20% of the 8,000 employees on Binance could be involved in these layoffs due to poor overall market conditions.
Wu explained employees would be compensated on a case-by-case basis, depending on their situation and place in the company.
Through social networks, Zhao informed that layoffs in Binance were nothing new, clarifying that the exchange had a “bottom out” policy that laid off employees qualified as “not strong fits” for the company. He referred to these rumors as “FUD.”
#binance #czbinance #cz #dyor #changpengzhao
Changpeng Zhao Calls Layoff Reports ‘FUD’:
Changpeng Zhao, CEO of Binance, has answered the rumors about mass layoffs on the exchange. According to Colin Wu, a Chinese cryptocurrency reporter, Binance had plans for laying off a significant part of its workforce, stating that market rumors indicated that at least 20% of the 8,000 employees on Binance could be involved in these layoffs due to poor overall market conditions.
Wu explained employees would be compensated on a case-by-case basis, depending on their situation and place in the company.
Through social networks, Zhao informed that layoffs in Binance were nothing new, clarifying that the exchange had a “bottom out” policy that laid off employees qualified as “not strong fits” for the company. He referred to these rumors as “FUD.”
#binance #czbinance #cz #dyor #changpengzhao