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@zaga_bnb
Every thoughts are my own, not an AI. Real person who hold BNB and BTC
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Market is on SALE right now
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
BNB/BTC analysis, Alt season is near
BTC is down again, yet BTC dominance starting to decreasing
What's that means?
BNB/BTC starting to form a bullish pattern. With RSI at 60 it's clear we are projecting for a new high
BNB/BTC previous ATH is 0.019
Potentially BNB can break 0.020 price against BTC
So let's say BTC is 100k, then BNB would be 2.000$ which means almost 4 times from current price
Should you hold BNB during the alt season?
Yes it's your safest bet. Because crypto industry will be flooded by alts and everyone will try to list their coin to the biggest exchange in the world, Binance
#altseason #altcoins #BTC #bnb #binance
BTC is down again, yet BTC dominance starting to decreasing
What's that means?
BNB/BTC starting to form a bullish pattern. With RSI at 60 it's clear we are projecting for a new high
BNB/BTC previous ATH is 0.019
Potentially BNB can break 0.020 price against BTC
So let's say BTC is 100k, then BNB would be 2.000$ which means almost 4 times from current price
Should you hold BNB during the alt season?
Yes it's your safest bet. Because crypto industry will be flooded by alts and everyone will try to list their coin to the biggest exchange in the world, Binance
#altseason #altcoins #BTC #bnb #binance
For Bitcoin to remain in bullish pattern, weekly candle has to close above 64k this week
We have so many support from BTC spot ETF.
Right now inflow from those ETF are net inflow. Which means smart money is buying, accumulating Bitcoin in 60k area
Blackrock knows their game. We're still early and Bull run is still in the beginning
We're waiting for more institutions to come in and that's when Bitcoin will explode
We're still early
#BlackRock #MicroStrategy #buythedip #ai #eth
We have so many support from BTC spot ETF.
Right now inflow from those ETF are net inflow. Which means smart money is buying, accumulating Bitcoin in 60k area
Blackrock knows their game. We're still early and Bull run is still in the beginning
We're waiting for more institutions to come in and that's when Bitcoin will explode
We're still early
#BlackRock #MicroStrategy #buythedip #ai #eth
BTC and ETH is down today
But Alt like BNB SOL XRP is pretty stable
Are we entering Alt season?
What do you think?
#altcoins #altseason #eth #Bitcoin #Memecoins
But Alt like BNB SOL XRP is pretty stable
Are we entering Alt season?
What do you think?
#altcoins #altseason #eth #Bitcoin #Memecoins
Unless you're Blackrock, dont time the market
Timing the market is trying to guess top and bottom and literally there's no person on Earth able to guess perfectly time in the market
HOLD is the best strategy during bull run
Few days ago BTC broke 60k support and everyone is calling 50-55k
A lot of people panic sold, hoping to buy lower. Some people even use Leverage to short
Now they're rektd, BTC didn't even reach 55k. And those same people are panic buying at 64k.
BTC demands below 60k is huge. Blackrock tried to buy at 70k but onchain data suggest no one wants to sell their Bitcoins
So ETFs like Grayscale are unloading their Bitcoin and start accumulating below 60k
To beat those whales all you need to do is simple. Hold, dont let them take your coins and you will be rewarded
#BlackRock #btc #bitcoin #MicroStrategy #buythedip
Timing the market is trying to guess top and bottom and literally there's no person on Earth able to guess perfectly time in the market
HOLD is the best strategy during bull run
Few days ago BTC broke 60k support and everyone is calling 50-55k
A lot of people panic sold, hoping to buy lower. Some people even use Leverage to short
Now they're rektd, BTC didn't even reach 55k. And those same people are panic buying at 64k.
BTC demands below 60k is huge. Blackrock tried to buy at 70k but onchain data suggest no one wants to sell their Bitcoins
So ETFs like Grayscale are unloading their Bitcoin and start accumulating below 60k
To beat those whales all you need to do is simple. Hold, dont let them take your coins and you will be rewarded
#BlackRock #btc #bitcoin #MicroStrategy #buythedip
Where BTC is going?
Weekly chart shows BTC closed with green Hammer candlestick
What's Hammer?
The Hammer candlestick is a bullish trading pattern that may indicate that a price has reached its bottom and is positioned for trend reversal.
Historically it's rare for BTC having 4 red week in a row, and now the green candle with Bullish pattern has appeared
We are on the right track to break new ATH
100k this year is very doable
#Bitcoin #altcoins #MicroStrategy #btc #BlackRock
Weekly chart shows BTC closed with green Hammer candlestick
What's Hammer?
The Hammer candlestick is a bullish trading pattern that may indicate that a price has reached its bottom and is positioned for trend reversal.
Historically it's rare for BTC having 4 red week in a row, and now the green candle with Bullish pattern has appeared
We are on the right track to break new ATH
100k this year is very doable
#Bitcoin #altcoins #MicroStrategy #btc #BlackRock
6 Coins you should always hold during 2024 Bull Run
My analysis based on Fundamental Analysis :
1. $BNB I believe BNB is the first Bigcaps that will break ATH after BTC. BNBChain currently has the most dapp comparing to other competitors. BNB right now is undervalued, it should be around ETH marketcap which is 4x time increase from current price
2. $BTC if there's a coin that you can hold for 100 years without any worry then BTC it is. Holding BTC is the easiest strategy to make money in Crypto. BTC is the perfect coin, why the price is so high up there because it's simply the literal first and the best coin in crypto industry.
3. $ETH will ETH outperform BTC? Maybe, the new protocol made ETH more attractive to invest. It provides a lot of function over BTC. So holding ETH and BTC together is your best bet to beat the market.
4. SOL almost every new memecoin are built with SOL. But I am investor, I don't gamble on memecoin. So I pick the Layer 1 coin to guarantee I can profit of it during the altseason
5. TON is the new contender in this cycle. In every cycle there will be a completely new coin that will outperform every older coin. My guts telling me TON will be one of them. It will explode if somehow Binance decide to list it in the Spot market
6. Doge yes I don't gamble on memecoin. However doge is a good coin. In every cycle doge ALWAYS break ATH. It can potentially goes to 1$ during the altseason. Elon definitely still a doge fan, he allowed Tesla payment with dogecoin. So you can't underestimate it when the most richest guy on the planet is backing the coin
#BTC #altcoins #bnb #eth #sol
My analysis based on Fundamental Analysis :
1. $BNB I believe BNB is the first Bigcaps that will break ATH after BTC. BNBChain currently has the most dapp comparing to other competitors. BNB right now is undervalued, it should be around ETH marketcap which is 4x time increase from current price
2. $BTC if there's a coin that you can hold for 100 years without any worry then BTC it is. Holding BTC is the easiest strategy to make money in Crypto. BTC is the perfect coin, why the price is so high up there because it's simply the literal first and the best coin in crypto industry.
3. $ETH will ETH outperform BTC? Maybe, the new protocol made ETH more attractive to invest. It provides a lot of function over BTC. So holding ETH and BTC together is your best bet to beat the market.
4. SOL almost every new memecoin are built with SOL. But I am investor, I don't gamble on memecoin. So I pick the Layer 1 coin to guarantee I can profit of it during the altseason
5. TON is the new contender in this cycle. In every cycle there will be a completely new coin that will outperform every older coin. My guts telling me TON will be one of them. It will explode if somehow Binance decide to list it in the Spot market
6. Doge yes I don't gamble on memecoin. However doge is a good coin. In every cycle doge ALWAYS break ATH. It can potentially goes to 1$ during the altseason. Elon definitely still a doge fan, he allowed Tesla payment with dogecoin. So you can't underestimate it when the most richest guy on the planet is backing the coin
#BTC #altcoins #bnb #eth #sol
What's my price prediction for BNB?
Calling it now, BNB will be the first bigcaps to break ATH
If Binance announce a new Launchpool or Megadrop project. It could potentially shoot BNB to break 620$ Key Resistance and on the way to break ATH
I'm a bit surprised how BNB still maintaining 550-600 area despite Bitcoin sharp turn to 56k
BNB has become more matured, lot of BNB are locked and more BNB are burned
So my Price prediction for BNB in this cycle. I expect 1.000 before at the end of year and potentially double when Altseason starts
#altcoins #BinanceLaunchpool #price #Binance #bnb
Calling it now, BNB will be the first bigcaps to break ATH
If Binance announce a new Launchpool or Megadrop project. It could potentially shoot BNB to break 620$ Key Resistance and on the way to break ATH
I'm a bit surprised how BNB still maintaining 550-600 area despite Bitcoin sharp turn to 56k
BNB has become more matured, lot of BNB are locked and more BNB are burned
So my Price prediction for BNB in this cycle. I expect 1.000 before at the end of year and potentially double when Altseason starts
#altcoins #BinanceLaunchpool #price #Binance #bnb
Did you know? 💡
By Locking your BNB in simple earn you will get both Launchpools and Megadrop. You'll also get BNB rewards and ACE airdrop
Megadrop is Binance take on web3. In bull run we can expect a lot of web3 projects queueing to get listed on Binance
Here's a quick guide to navigating this industry-leading web3 airdrop platform, blending the finest features of Launchpool, Web3, and Airdrops
#buythedip #bnb #Megadrop #BinanceLaunchpool #bouncebit
By Locking your BNB in simple earn you will get both Launchpools and Megadrop. You'll also get BNB rewards and ACE airdrop
Megadrop is Binance take on web3. In bull run we can expect a lot of web3 projects queueing to get listed on Binance
Here's a quick guide to navigating this industry-leading web3 airdrop platform, blending the finest features of Launchpool, Web3, and Airdrops
#buythedip #bnb #Megadrop #BinanceLaunchpool #bouncebit
BREAKING: Grayscale Bitcoin Trust just had $63m INFLOWS for the first time since Bitcoin ETFs were launched on January 11!
According data by FarsideUK
The 77 day streak of outflows has been broken.
GBTC is still the largest Bitcoin spot ETF, with over $18.7 billion assets under management (AUM) coupled with about 297,000 Bitcoin. #BTC #BlackRock #ETF#BitcoinETFs #grayscale
According data by FarsideUK
The 77 day streak of outflows has been broken.
GBTC is still the largest Bitcoin spot ETF, with over $18.7 billion assets under management (AUM) coupled with about 297,000 Bitcoin. #BTC #BlackRock #ETF#BitcoinETFs #grayscale
JUST IN: 🇭🇰 Two Hong Kong based asset managers just reported owning us-based BTC ETFs.
$38m by Yong Rong
$74m by Ovata
Did you bought the dip?
#BlackRock #MicroStrategy #Bitcoin #buythedip
$38m by Yong Rong
$74m by Ovata
Did you bought the dip?
#BlackRock #MicroStrategy #Bitcoin #buythedip
Market is green today!
All my picks turned green, especially SOL! It went up more than 10%
Have been recommending people to buy SOL since it went oversold
So I hope you guys that been following me earned some good profit. Lets hope BTC can break 60k resistance or at least stay above 59k to maintain it's bullish position
#buythedip #BTC #sol #fomc #BullorBear
All my picks turned green, especially SOL! It went up more than 10%
Have been recommending people to buy SOL since it went oversold
So I hope you guys that been following me earned some good profit. Lets hope BTC can break 60k resistance or at least stay above 59k to maintain it's bullish position
#buythedip #BTC #sol #fomc #BullorBear
LIVEZaga
--
Optimistické
Market is on SALE right now
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
Bitcoin did Halving why it's going down?
Here's my analysis for Short term and Long term
1. Sell the news event, Halving hype definitely contributed a lot to make Bitcoin break ATH even before Halving occurred. Unlike in the previous cycles, This is the FIRST time it happened. Thus Bitcoin went overbought at 72k and we've come to Overbought state. For Bitcoin rally to 100k healthy corrections are necessary. So don't panic!
2. In short term, we can see sell pressure keep increasing due to market panics. But smart money inflows are coming in. There's a chance we will go lower low first to find a local bottom. But should you sell? For investors I don't recommend to time the market. However if you're a trader go ahead try to short until oversold indicators are fulfilled.
3. In long term, for investors I recommend try to accumulate by using Auto Invest feature on Binance. We can't predict exactly the bottom price but May is generally a good month to accumulate
And don't forget always DYOR!
#BinanceLaunchPool #buythedip #BTC #fomc #bitcoinhalving
Here's my analysis for Short term and Long term
1. Sell the news event, Halving hype definitely contributed a lot to make Bitcoin break ATH even before Halving occurred. Unlike in the previous cycles, This is the FIRST time it happened. Thus Bitcoin went overbought at 72k and we've come to Overbought state. For Bitcoin rally to 100k healthy corrections are necessary. So don't panic!
2. In short term, we can see sell pressure keep increasing due to market panics. But smart money inflows are coming in. There's a chance we will go lower low first to find a local bottom. But should you sell? For investors I don't recommend to time the market. However if you're a trader go ahead try to short until oversold indicators are fulfilled.
3. In long term, for investors I recommend try to accumulate by using Auto Invest feature on Binance. We can't predict exactly the bottom price but May is generally a good month to accumulate
And don't forget always DYOR!
#BinanceLaunchPool #buythedip #BTC #fomc #bitcoinhalving
SOL is up 10% despite Bitcoin downturn!
If you've been following my advice yesterday, SOL is my first pick to buy in current Red Market
I hope you earned some good profit! Stay safe my brother!
#sol #BullorBear #buythedip #fomc #BTC
If you've been following my advice yesterday, SOL is my first pick to buy in current Red Market
I hope you earned some good profit! Stay safe my brother!
#sol #BullorBear #buythedip #fomc #BTC
LIVEZaga
--
Optimistické
Market is on SALE right now
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
Remember that Market is a place to transfer wealth from the impatient to patient
What to do in current situation
1. Don't panic, I always says use Spot don't use Leverage, or Margin. It will help you to remain calm since you will never be able to liquidated.
2. Dollar cost averaging (DCA). Keep accumulating everytime dips happen. Invest for the long run, sees every dip is the opportunity to buy on sale.
3. It's not about how many $ you earn, but how many coins you own. Stop the fiat mindset, let's say you have 1 BTC meaning you currently own 100k $ in the near future. What's today price is irrelevant, we're playing in the long game
4. Do your own research! Spend your time to increase your knowledge about the coins you own. Remember, knowledge is the best risk mitigation. The more you know about Bitcoin the less you need to worry.
#BTC #fomc #bitcoinhalving #BullorBear #bitcoin
What to do in current situation
1. Don't panic, I always says use Spot don't use Leverage, or Margin. It will help you to remain calm since you will never be able to liquidated.
2. Dollar cost averaging (DCA). Keep accumulating everytime dips happen. Invest for the long run, sees every dip is the opportunity to buy on sale.
3. It's not about how many $ you earn, but how many coins you own. Stop the fiat mindset, let's say you have 1 BTC meaning you currently own 100k $ in the near future. What's today price is irrelevant, we're playing in the long game
4. Do your own research! Spend your time to increase your knowledge about the coins you own. Remember, knowledge is the best risk mitigation. The more you know about Bitcoin the less you need to worry.
#BTC #fomc #bitcoinhalving #BullorBear #bitcoin
Check this out, 3 notable coins to accumulate in current situation
LIVEZaga
--
Optimistické
Market is on SALE right now
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
What's the best coin to buy in this situation?
Here's my pick :
1. SOL, currently nearing support area at 100, RSI indicator is oversold. If it reaches 100-120 is good area to buy. You can potentially double your portfolio if SOL reaches 200 again
2. ETH, finally you have the opportunity to buy again below 3k. ETH Spot ETF has started trading at Hongkong. Literally the only altcoin that has spot ETF. Institutions money will come sooner or later
3. BTC of course, demands below 60k is HUGE. Once those orders are filled BTC will be unstoppable. Right now post halving we have a lot of miners shorting BTC as hedge. Soon those sell pressure will gone and thus the bull run of 2024 will start
Stay safe, don't panic, always see corrections are opportunity. Be greedy when others are fearful!
#HKETF #BitcoinETFs #sol #eth #bitcoin
I sold $REZ immediately after it started trading at 0.2
A bit lower than I expected but selling Launchpool tokens has always been my strategy
I will use the profits to keep reinvest it on BNB
Right now BNB got some great news, CZ sentenced to serve 4 months prison time. It's much lower than 3 years expectations because the DOJ accusations turned out not to be true
So I expect BNB remains strong during today's red market and will turned green in several days
FOMC Meeting is near, we will have another bullish news on May, that way BTC will turned around the market.
Stay tuned for BTC analysis in part 2!
#HKETF #BitcoinETFs #fomc #Megadrop #BinanceLaunchpool
A bit lower than I expected but selling Launchpool tokens has always been my strategy
I will use the profits to keep reinvest it on BNB
Right now BNB got some great news, CZ sentenced to serve 4 months prison time. It's much lower than 3 years expectations because the DOJ accusations turned out not to be true
So I expect BNB remains strong during today's red market and will turned green in several days
FOMC Meeting is near, we will have another bullish news on May, that way BTC will turned around the market.
Stay tuned for BTC analysis in part 2!
#HKETF #BitcoinETFs #fomc #Megadrop #BinanceLaunchpool
BREAKING: CZ SENTENCED TO 4 MONTHS IN PRISON
Much much lower than 3 years expectations!
Great news for Binance and BNB!
Just so you know 4 is his favorite number, bet he's now smiling with his team
CZ is a great guy, he voluntarily went to US to clear things up, even though he got prison time but the accusations are proven to be false
Source : Coindesk Live reports
#FreeCZ #bnb #Binance #cz
Much much lower than 3 years expectations!
Great news for Binance and BNB!
Just so you know 4 is his favorite number, bet he's now smiling with his team
CZ is a great guy, he voluntarily went to US to clear things up, even though he got prison time but the accusations are proven to be false
Source : Coindesk Live reports
#FreeCZ #bnb #Binance #cz
#FreeCZ CZ did nothing wrong, he did a lot for the crypto community. Let's pray for the best
LIVE
Coinpedia
--
Judge Richard Jones Rejects DOJ’s Push for Changping Zhao’s Sentence Enhancement
The post Judge Richard Jones Rejects DOJ’s Push for Changping Zhao’s Sentence Enhancement appeared first on Coinpedia Fintech News
Judge Richard Jones has rejected the Department of Justice’s (DOJ) request to extend the prison sentence for Changpeng Zhao, the former CEO of Binance. The DOJ had sought to increase Zhao’s sentence from 18 months to 3 years, alleging his involvement in illegal activities related to cryptocurrency transactions.
However, Judge Jones has expressed skepticism about the DOJ’s argument, emphasizing the lack of evidence showing Zhao’s awareness of any wrongdoing.
Judge Questions DOJ’s Argument
During the court proceedings, Judge Richard Jones refuted the DOJ’s request for a sentence enhancement, citing insufficient evidence linking Zhao to illicit activities. The judge noted that there was no indication that Zhao had been informed of any illegal conduct, challenging the DOJ’s assertion that Zhao was aware of such activities.
Judge Richard Jones said he does not agree with the DOJ's request for an enhancement to the sentencing guidelines that would push the sentence from 18 months to 3 years: “There’s no evidence that the defendant was ever informed” of illegal activity.
— @nikhileshde@journa.host (@nikhileshde) April 30, 2024
DOJ’s Argument and Zhao’s Defense
The DOJ’s attorney argued that Zhao’s involvement in tapping into the U.S. financial system demonstrated a deliberate violation of the law. The attorney emphasized that Zhao himself had admitted to seeking forgiveness rather than permission in his endeavors to build the world’s largest cryptocurrency exchange.
The defense team representing Zhao did not seek house arrest but proposed probation as an alternative to incarceration. They highlighted Zhao’s cooperation and acceptance of responsibility as factors warranting consideration in sentencing.
Correction: CZ's team didn't ask for house arrest, just proposed it as an option. Actual ask is for probation
— @nikhileshde@journa.host (@nikhileshde) April 30, 2024
Impact On Crypto Regulation
The outcome of this sentencing decision has broader implications for the enforcement of financial regulations in the cryptocurrency sector. The DOJ’s argument that Zhao’s case sets a precedent for regulatory enforcement underscores the significance of this legal battle.
Meanwhile, the final ruling will consider arguments from all parties involved before determining the appropriate course of action for Changpeng Zhao.
Judge Richard Jones has rejected the Department of Justice’s (DOJ) request to extend the prison sentence for Changpeng Zhao, the former CEO of Binance. The DOJ had sought to increase Zhao’s sentence from 18 months to 3 years, alleging his involvement in illegal activities related to cryptocurrency transactions.
However, Judge Jones has expressed skepticism about the DOJ’s argument, emphasizing the lack of evidence showing Zhao’s awareness of any wrongdoing.
Judge Questions DOJ’s Argument
During the court proceedings, Judge Richard Jones refuted the DOJ’s request for a sentence enhancement, citing insufficient evidence linking Zhao to illicit activities. The judge noted that there was no indication that Zhao had been informed of any illegal conduct, challenging the DOJ’s assertion that Zhao was aware of such activities.
Judge Richard Jones said he does not agree with the DOJ's request for an enhancement to the sentencing guidelines that would push the sentence from 18 months to 3 years: “There’s no evidence that the defendant was ever informed” of illegal activity.
— @nikhileshde@journa.host (@nikhileshde) April 30, 2024
DOJ’s Argument and Zhao’s Defense
The DOJ’s attorney argued that Zhao’s involvement in tapping into the U.S. financial system demonstrated a deliberate violation of the law. The attorney emphasized that Zhao himself had admitted to seeking forgiveness rather than permission in his endeavors to build the world’s largest cryptocurrency exchange.
The defense team representing Zhao did not seek house arrest but proposed probation as an alternative to incarceration. They highlighted Zhao’s cooperation and acceptance of responsibility as factors warranting consideration in sentencing.
Correction: CZ's team didn't ask for house arrest, just proposed it as an option. Actual ask is for probation
— @nikhileshde@journa.host (@nikhileshde) April 30, 2024
Impact On Crypto Regulation
The outcome of this sentencing decision has broader implications for the enforcement of financial regulations in the cryptocurrency sector. The DOJ’s argument that Zhao’s case sets a precedent for regulatory enforcement underscores the significance of this legal battle.
Meanwhile, the final ruling will consider arguments from all parties involved before determining the appropriate course of action for Changpeng Zhao.