New Boss Richard Teng: Bitcoin’s Meteoric Rise and Insights from Binance CEO

New Boss Richard Teng: Bitcoin’s Meteoric Rise and Insights from Binance CEO

New Boss Richard Teng : Bitcoin Richard Teng , the new Boss and CEO of Binance , talks about Bitcoin’s Big Growth , which is the biggest place where people trade cryptocurrencies, shared his thoughts on X (Twitter) about Bitcoin’s recent big achievement. The most popular cryptocurrency Bitcoin , reached over $51,000 today. It also hit a market value of $1 trillion for the first time since 2021. Teng said this was a significant moment for Bitcoin.

New Boss Richard Teng: Bitcoin's Meteoric Rise and Insights from Binance CEO

Today, a data tracker called Glassnode noticed that Bitcoin’s value now exceeds big companies like Walmart , Tesla and even a fund run by Warren Buffett, who doesn’t like Bitcoin much. Value of Bitcoin went up because a lot of people are investing in Bitcoin exchange-traded funds (ETFs). In the last two days, over $1 billion has been invested in these funds. The founder of SkyBridge Capital , Anthony Scaramucci , mentioned that one particular Bitcoin ETF managed by BlackRock has received over $5 billion in investments, which is much more than others.

CZ facing the Jail Time

Binance’s Former CEO Faces Jail Time.
Earlier, it was reported that the famous founder of Binance , Changpeng Zhao, also known as CZ , might have to go to jail because of charges against him by the U.S. Department of Justice (DOJ), as per Bloomberg. Though it’s unlikely he’ll get the maximum sentence of 10 years , unlike other cryptocurrency bosses who got into legal trouble , CZ might have to spend 18 months in prison. He was accused of breaking a law called the Bank Secrecy Act. At first, CZ admitted to the DOJ that he broke the law, and Binance had to pay a huge $4.3 billion fine. CZ stepped down as CEO of Binance and said he would spend more time on himself and help young startups. He also tweeted about his interest in using cryptocurrency to fund medical research.

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