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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConfidence in the crypto industry is rising but we're not back to 2021 levels, analyst saysOwen Lau, executive director and senior analyst at Oppenheimer, discusses the outlook for the cryptocurrency industry and events surrounding Binance CEO Changpeng Zhao's decision to step down after pleading guilty to federal criminal charges.
Persons: we're, Owen Lau, Oppenheimer, Changpeng
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBTC Markets CEO discusses crypto giant Binance and money launderingCaroline Bowler, BTC Markets CEO, discusses the events surrounding Binance CEO Changpeng Zhao's stepping down after pleading guilty to federal criminal charges.
Persons: Caroline Bowler, Changpeng Zhao's Organizations: BTC
Changpeng Zhao, founder and CEO of Binance, waves as he arrives on stage for a panel session on the second day at the VivaTech Conference in Paris, June 16, 2022. PARIS — Days before French police visited Binance's Paris office, the crypto exchange's top French executive dismissed concerns about U.S. regulatory charges affecting Binance's other operations, comparing them with the flapping of a butterfly's wings. Just days before the raid, CNBC asked Binance France President David Prinçay if he was concerned about charges from the top two U.S. financial regulators against the exchange. Binance's founder, Zhao, dismissed the police statement and reporting as "FUD," claiming it was a "surprise on-site" inspection that was "the norm." Binance faces over a dozen charges from the SEC and a similar slate of allegations from the Commodity Futures Trading Commission.
Persons: Changpeng Zhao, Le Monde, Binance, David Prinçay, Prinçay, Changpeng Zhao's, Binance France's, Zhao Organizations: VivaTech Conference, Le, CNBC, U.S . Securities, Exchange Commission, SEC, Futures Trading Commission, of Justice Locations: Paris, PARIS, Binance's Paris, U.S, Europe, French, European
Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Fried's crypto exchange, FTX , began its slide toward bankruptcy. Since Monday, Bitcoin has held largely steady above $21,000, well above its Nov. 2 price of $20,283. The price of bitcoin has jumped over 22% in the last seven days, according to data from CoinMarketCap. Bitcoin fell by that same amount in less than a day, between Nov. 7 and Nov. 8, as investors struggled to assess the impact of a potential FTX collapse and the likelihood of a Binance-backed FTX bailout. A potential rescue deal with ChangPeng Zhao's Binance fell apart on Nov. 8, and FTX and Alameda both declared bankruptcy on Nov. 11.
Starting today, the six big US banks (Bank of America, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo) report their Q4 and year-end earnings. But instead of a boring preview on what to expect, I figured I'd have some fun by setting gambling lines on some of the biggest storylines heading into earnings. OK, let's get into the biggest storylines and their odds:David Solomon discusses the recent headcount reduction at Goldman Sachs. What'll be interesting is if he teases even more cuts coming down the line as the bank looks to cut costs. (-150)Background: The bank got ahead of this one by announcing its plans to step back from mortgages earlier this week.
Rising interest rates will cause further casualties in the crypto space, according to the Peterson Institute's Martin Chorzempa. FTX announced Tuesday it agreed to be taken over by rival exchange Binance, shocking investors. "We can expect a lot more problems to come," Chorzempa told CNBC. "We can expect a lot more problems to come," Chorzempa told CNBC on Wednesday. "When rates come up, a lot of skeletons that have been waiting in the closet in highly-speculative, highly-levered markets tend to come out."
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