Binance CEO Richard Teng Sees Bitcoin Crossing $80K by Year End
Binance’s fairly new boss Richard Teng has said Bitcoin (BTC) will exceed his previous expectations of hitting the $80,000 mark by the end of this year, according to Bloomberg.
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Changpeng “CZ” Zhao
Binance’s fairly new boss Richard Teng has said Bitcoin (BTC) will exceed his previous expectations of hitting the $80,000 mark by the end of this year, according to Bloomberg.
Zhao has requested permission to travel to the UAE, where his three children remain.
Binance, Binance.US and Changpeng Zhao argued that the U.S. Securities and Exchange Commission did not meet the requirements of the “Howey Test” in its suit against the two companies and their founder in a new filing Tuesday.
Binance founder and former CEO Changpeng Zhao must remain in the U.S. until he is sentenced next February, a federal judge ruled Thursday.
The former BitMEX CEO said the record-breaking penalties against Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology.
A district judge ordered Changpeng “CZ” Zhao to stay in the U.S. until he could make a proper ruling on a U.S. Department of Justice motion to block him from returning to his home in the UAE.
Binance founder and former CEO Changpeng Zhao should be allowed to return to the UAE, where he is a citizen and lives, ahead of his February sentencing, his lawyers said, pushing back against a U.S. Department of Justice filing asking he not be allowed to leave the country.
Binance CEO Changpeng Zhao leaves the U.S. District Court in Seattle, Washington. (David Ryder/Getty Images)
Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng “CZ” Zhao, stepped down from his role running the platform as part of a settlement with multiple federal agencies. Meanwhile, Kraken is facing a lawsuit from the U.S. Securities and Exchange Commission that echoes the SEC’s previous wave of suits.
Binance’s ex-CEO Changpeng Zhao (Getty Images)