Binance Founder CZ To Be Released

Alpha Team
September 16, 2024

🔓 CZ to Be Released This Month

Binance Founder’s Release Date: Changpeng "CZ" Zhao, Binance's founder, is set to be released on September 29 after serving most of his four-month sentence. Zhao spent time in a low-security prison before moving to a halfway house in late August.

Sentence and Financial Penalties: Zhao’s sentence followed his guilty plea to charges under the Bank Secrecy Act, mainly due to inadequate KYC measures at Binance. He also agreed to pay a $50 million fine and stepped down as CEO in April.

Leadership Shift and Legal Issues: After Zhao’s resignation, Richard Teng, a former regulator, was appointed as Binance’s new CEO. The company also faced charges related to U.S. sanctions, agreeing to pay $4.3 million in penalties. Read More.

️ On today's Top Picks:

🗓️ Ethereum developers consider splitting Pectra upgrade.
🫵 ZachXBT calls out Circle & Jeremy Allaire.
🪂 EigenLayer $EIGEN Season 2 claims are open.
🔓 ApeCoin $APE token unlock worth ~$11m.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Binance Founder Changpeng Zhao (CZ) scheduled for release on September 29th.

• ⭐️ Ethereum developers consider splitting Pectra upgrade; first phase in early 2025.

• US CFTC files new motion to stop Kalshi from offering election prediction markets.

• Circle collaborates with Sony Block Solutions Labs to launch bridged $USDC on Soneium.

• Circle to move headquarters to New York's One World Trade Center.

• ⭐️ ZachXBT calls out Circle & Jeremy Allaire for failing to blacklist DeFi exploit/hack addresses.

Alpha

• Fuel Network by Earndrop.

• PumpBTC to launch PumpBTC Pass mint on September 17th via MagicEden launchpad.

• BOB Fusion to launch Season 3 this September; Bitcoin LST Spice boosts, revamped dashboard, and more.

• Aleo introduces $ALEO token tokenomics.

• Reya Labs teases announcement coming next week.

• Major Crypto Events This Week by CryptoRank.

Airdrops

• ⭐️ EigenLayer $EIGEN Season 2 claims are open.

• deBridge $DBR airdrop claims to CEX's are live.

• Solayer - Future of Solana-based Restaking by Earndrop.

• ICYMI Jumper Airdrop Strategy by Earndrop.

• Tabichain by Crypto Snooper.

• 10 Most Funded Crypto Projects Without A Tradable Token by ICO Analytics.

Finance News

• ⭐️ MicroStategy $MSTR announces private offering of $700m of convertible senior notes to buy more Bitcoin & buyback debt.

• Bitdeer $BTDR to auction 2.88k used Antminer S19's; starting price of $270k.

• BRCIS announces 34 new countries have formally applied to join the alliance.

• Intel $INTC loses Sony's PlayStation 6 chip design contract to AMD $AMD.

Security and Exploits

• SlowMist Weekly Security Report highlights 5 incidents with ~$29m in losses.

• DeltaPrime Blue exploited for ~$6m due to compromised private key.

• SlowMist analyzes The FBI 2023 Cryptocurrency Fraud Report.

Token Unlocks

⭐️• ApeCoin / 15.6m $APE / ~$11m / SEP 17
• Echelon Prime / 750k $PRIME / ~$6m / SEP 17
• Pixels / 54.38m $PIXEL / ~$7m / SEP 19
• Lista DAO / 24.68m $LISTA / ~$8m / SEP 20
• SPACE ID / 78.49m $ID / ~$26m / SEP 22
• Galxe / 586.67k $GAL / ~$1m / SEP 22
• Ethena / 14.89m $ENA / ~$3m / SEP 22

Funding

• Permissionless Labs raises $10m in Series A funding led by Multicoin Capital.

• ArcJet raises $3.6m in Seed funding led by Zane Lackey.

• RISE Chain raises $3.2m in Seed funding led by Finality Capital Partners.

• Regolith Labs raises $3m in Seed funding led by Foundation Capital.

• LogX raises an undisclosed amount in Strategic funding.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Notional V3 (Ethereum)	NUSDC	30.90%
Merkl (Ethereum)	USDCDYAD	28.31%
Tangible Arcana (Re.al)	ARCUSD	21.28%
Anzen V2 (Ethereum)	SUSDZ	20.61%
Extra Finance (Base)	USDZUSDC	20.44%
Aerodrome V1 (Base)	USDZUSDC	18.60%
Pendle (Ethereum)	USDE(KARAK)	17.17%
Solv Funds (Arbitrum)	USDC	16.13%

. . .

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. . .

That’s it for today’s edition! See you soon.

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