• Top Binance Execs Leave Company Over CZ’s Handling of DOJ Investigation: Report
At least three senior officials have departed embattled crypto exchange Binance this week as the company prepares to defend itself on multiple fronts, Fortune reported on Thursday.
Binance General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President for Compliance Steven Christie are among those that have resigned, a source familiar with the matter told Fortune. In addition, Binance’s Global Vice President of Marketing and Communications Steve Milton left the company in June, according to his LinkedIn profile. Their departure follows Senior Director of Investigations Matthew Price’s recent decision to part ways with the exchange.
• BarnBridge DAO calls halt to ‘all work’ on DeFi protocol amid SEC probe
BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC).
In a July 6 post to the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization, revealed the news to members.
“I am letting you know that the Securities and Exchange Commission is investigating BarnBridge DAO and individuals associated with the DAO,” Park said.
• Bitcoin bull run incoming: Binance CEO Changpeng Zhao reveals when
In a July 5 “ask me anything” session on Twitter, CZ covered BlackRock’s intention to enter the crypto market, updated listeners about ongoing regulatory action against the exchange, and gave his thoughts on the next bull run.
CZ explained that the price of Bitcoin has historically moved in four-year bull cycles and his best bet was that this would continue to occur.
While he admitted that he couldn’t see the future, Zhao emphasized the upcoming Bitcoin halving event in 2024 and declared 2025 to be the most likely year for the next bull market, stating: “The year after Bitcoin halving is usually the bull year.“
• Ethereum NFT royalties hit 2-year low as Bored Ape floor price falls below 30 ETH
Royalties earned by nonfungible token (NFT) projects have reached their lowest point in two years, according to a report from blockchain analytics firm Nansen.
April 2022 saw the peak of NFT royalties, with creators bagging an estimated $75.7 million in a single week. According to Nansen’s data, BAYC creator Yuga Labs has earned a total of $165.5 million in royalties across its portfolio of NFT collections.
• Bittrex may still face enforcement action in Florida amid bankruptcy
The Florida Office of Financial Regulation is considering action against United States-based cryptocurrency exchange Bittrex, which filed for Chapter 11 bankruptcy protection in May.
In a July 5 filing with the U.S. Bankruptcy Court for the District of Delaware, Florida Office of Financial Regulation (OFR) Assistant General Counsel Brandon Greenberg said the state regulator had been given information on Bittrex’s alleged failure to comply with Florida law. According to Greenberg, the OFR still had the “administrative discretion” to charge or not charge Bittrex.
• Arbitrum’s User Base Is Fastest Growing Among Leading Blockchains: Bernstein
Arbitrum has the fastest-growing user base among leading blockchains, Bernstein said in a research report Monday, noting that project tokens trading on the network have also been among this year’s best performers.
Transaction growth has been rapid, reaching almost 50% of daily Ethereum transactions in January, Bernstein said. Daily transactions and revenue are four times higher than six months ago. Developer activity is also robust, it said.
Concluding Notes:
- Top Binance Execs leaving the company
- BarnBridge DeFi protocol development is on halt
- Possible Bitcoin bull run Period
- Ethereum NFT royalties hit 2-year low
- Bittrex to face enforcement action
- Arbitrum user base is rapidly growing
