Tag: Binance

Binance CEO Clarifies Details on CommEx Integration

by Blockchain News

Key Takeaways

* CZ, Binance’s CEO, provides clarifications on Binance’s association with CommEX.

* Cryptocurrency transfers between the platforms are in progress.

* Binance’s broader compliance strategy leads to its Russian operations’ sale to CommEX.

CZ’s Clarifications on Binance and CommEx Association

In a recent tweet, Changpeng Zhao (CZ), CEO of Binance, provided insights into the nature of the relationship between Binance and CommEX. He highlighted several key points:

Cryptocurrency transfers are underway between Binance and CommEX as users shift platforms. Older transactions were noted during the testing phase of the integrations.

Some ex-Binance CIS team members may have already joined CommEX, and others might follow. CZ regards this as a positive move.

CommEx’s design, APIs, and other interfaces align closely with Binance’s, a request made by Binance to ensure a seamless user transition.

CommEX will not cater to users from the US or the EU due to IP and KYC restrictions, a condition Binance stipulated.

Refuting speculations, CZ stated he does not hold an Ultimate Beneficial Owner (UBO) position in CommEX nor owns any shares. The deal excludes any buyback options.

Binance’s Decision Amid Regulatory Challenges

Binance, the world’s leading cryptocurrency exchange, has announced the sale of its entire Russia-based operations to CommEX. This significant strategic decision aligns with Binance’s emphasis on compliance and regulatory adherence across the numerous countries it operates within.

While Russia is ramping up regulations on crypto exchanges, Binance has also been under U.S. scrutiny for potential sanctions violations concerning Russia. On May 6, 2023, the U.S. Department of Justice initiated an inquiry into Binance, focusing on potential U.S. sanctions violations. This move was not isolated, with previous probes in 2021 and early 2022.

Earlier, in April 25, 2023, Binance discreetly lifted certain restrictions on Russian users that were initially imposed in March 2022, following EU’s sanctions on Russia. By April 2023, changes were made to allow deposits in Russian rubles and other currencies.

The EU’s extension of its sanctions impacted Russian users’ access to EU-registered crypto services. This shift led platforms like LocalBitcoins, Crypto.com, and Blockchain.com to cut ties with Russian clients.

To ensure a smooth transition, Binance and CommEX devised a systematic migration process for users and assets, assuring Binance’s existing Russian users of the security of their assets. The transition is expected to span a year, with some new registrations being redirected to CommEX.

While financial details remain undisclosed, Binance confirmed there would be no continued revenue from the sale and marked a complete exit from the Russian market.

Binance, though departing from Russia, remains bullish about the Web3 sector’s global potential and plans to focus on the 100+ other countries in its operation portfolio.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Paysafe Halts EUR Deposits for Binance Users: What You Need to Know

by Blockchain News

Key Takeaways

* Paysafe Payment Solutions Limited discontinues EUR deposits for Binance users.

* Affected users have until October 31, 2023, to convert EUR balances to USDT.

* Multiple Binance services, including Spot Trading and Auto-Invest, impacted.

Paysafe Payment Solutions Limited (Paysafe) has unilaterally decided to cease processing EUR deposits for Binance users, effective September 25, 2023, at 00:00 (UTC). The abrupt move has left many in the crypto community puzzled, as no clear reason has been provided for the decision.

Binance has advised Paysafe users to convert their EUR balances to USDT before October 31, 2023, at 00:00 (UTC). Users can also continue to withdraw their EUR balances to their respective bank accounts. The company assures that all funds are secure and that other crypto-related services remain unaffected.

The decision has led to a series of disruptions across various Binance services:

Spot Trading: Effective from September 28, 2023, at 04:00 (UTC), all Paysafe users will be unable to trade EUR spot trading pairs. Open orders on these pairs will start to be canceled from September 28 at 05:00 (UTC).

Buy/Sell Crypto: Starting from September 28, 2023, at 04:00 (UTC), users will no longer be able to buy or sell crypto with EUR balances.

Binance Convert: The Convert feature will be restricted to EUR reduce-only mode from September 28 at 04:00 (UTC).

Auto-Invest: Auto-Invest EUR plans for Paysafe users will be paused from September 28 at 04:00 (UTC).

Binance is actively working to integrate new fiat channels to mitigate the impact of this decision.

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He Yi Discusses Binance’s Regulatory Strategy Amid Actions Against Binance and Zhao Changpen

by Blockchain News

Key Takeaways

  1. He Yi’s public letter provides insights into Binance’s stringent compliance measures like KYC, EDD, WCK, and POA.

  2. Binance is under investigation by the U.S. Department of Justice’s national security division as of May 6, 2023, adding to a series of SEC charges.

  3. Binance sells its Russian operations to CommEX, citing alignment with the company’s global compliance strategy.

In a crucial public letter that gains significance against the backdrop of global regulatory challenges, He Yi, Co-founder of Binance, outlined the company’s approach to compliance, competition, and internal efficiency. Yi explicitly mentioned the rigorous compliance measures like KYC, EDD, WCK, and POA that Binance follows. “It is important to note that many of our competitors do not need to consider KYC, compliance, EDD, WCK, POA as strictly as we do at Binance,” she stated.

Yi’s call for logical reasoning among employees seems to be a response to the multiple regulatory pressures the company is facing, particularly from the U.S. Department of Justice and the Securities and Exchange Commission (SEC).

On May 6, 2023, the U.S. Department of Justice’s national security division initiated an inquiry into Binance. This inquiry is focused on whether Binance allowed Russian customers to access its platform in violation of U.S. sanctions imposed in response to Russia’s invasion of Ukraine.

This investigation is not an isolated incident; it adds to a 2021 joint probe by the Department of Justice and the Internal Revenue Service, and an ongoing SEC investigation that filed 13 charges against Binance and its founder, Changpeng Zhao, on June 5, 2023.

Amidst these complexities, Binance recently announced that it would sell its entire Russian operations to CommEX. Noah Perlman, Binance’s Chief Compliance Officer, cited compliance strategy as the reason for this exit. “As we look toward the future, we recognize that operating in Russia is not compatible with Binance’s compliance strategy,” Perlman mentioned. This strategic move is expected to take up to a year to fully transition existing Russian users to CommEX.

He Yi’s letter provides a lens to understand Binance’s strategic moves in navigating its global regulatory challenges. Her emphasis on strict compliance measures and logical decision-making among employees appears to be a part of a larger strategy to bolster the company’s standing amidst ongoing investigations and market exits.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Breaking: Binance Sells Russian Operations to CommEX, Exits Market

by Blockchain News

Key Takeaways

  1. Binance to sell its entire Russia business to CommEX

  2. Off-boarding process for existing Russian users to take up to one year

  3. Binance cites compliance strategy as the reason for exit

Binance, the world’s largest cryptocurrency exchange, has announced that it will sell its entire Russia-based operations to CommEX. Noah Perlman, Binance’s Chief Compliance Officer, stated, “As we look toward the future, we recognize that operating in Russia is not compatible with Binance’s compliance strategy.” The move comes as part of Binance’s broader focus on compliance and regulatory adherence in over 100 other countries where it continues to operate.

While Russia is tightening regulations on crypto exchanges, the U.S. is simultaneously investigating Binance for potential violations of U.S. sanctions against Russia.

On May 6, 2023, the U.S. Department of Justice’s national security division initiated an inquiry into Binance. The investigation focused on whether the exchange allowed Russian customers to access its platform in violation of U.S. sanctions, which were imposed in response to Russia’s invasion of Ukraine. This inquiry was not an isolated incident; it followed a 2021 joint investigation by the Department of Justice and the Internal Revenue Service into the global exchange. Additionally, the U.S. Securities and Exchange Commission (SEC) has been probing Binance’s relationship with two firms owned by its founder, Changpeng Zhao, since early 2022.

Earlier this year, on April 25, 2023, Binance quietly lifted restrictions it had placed on Russian citizens and residents over a year ago. These restrictions were initially imposed in March 2022 after the European Union sanctioned Russia for its invasion of Ukraine. At that time, Binance had stopped supporting deposits from Visa and Mastercard cards issued in Russia. However, by April 2023, users were able to deposit Russian rubles and other currencies from bank cards issued in Russia. The exchange also lifted limits for accounts with balances larger than 10,000 euros for users in Russia.

The European Union had broadened its sanctions last year, making it impossible for Russian citizens and residents to use any crypto service registered in the EU. This led to immediate actions from other crypto platforms like LocalBitcoins, Crypto.com, and Blockchain.com, which notified Russian users that their accounts would soon be discontinued.

To facilitate a seamless transition, Binance and CommEX have outlined an orderly process for the migration of users and their assets. Existing Russian users have been assured that their assets are secure and will be protected throughout the transition period, which is expected to last up to one year. A portion of new user registrations from Russia will be immediately redirected to CommEX, scaling up over time.

While the financial terms of the deal remain undisclosed, it is noteworthy that Binance will not have any ongoing revenue split from the sale. Additionally, the company does not retain any option to buy back shares in the business, marking a complete exit from the Russian market.

Although exiting Russia, Binance remains optimistic about the growth prospects of the Web3 industry globally. The company plans to “focus our energy on the 100+ other countries in which we operate,” according to Perlman.

These regulatory pressures and policy shifts provide a broader context for understanding Binance’s decision to exit the Russian market. The sale to CommEX can be seen as a strategic move by Binance to navigate a complex and evolving regulatory landscape, both in Russia and globally.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Mixin Network Urges Hacker to Return Funds, Offers $20M Bug Bounty

by Blockchain News

Key Takeaways

  1. Mixin Network was hacked, resulting in a loss of $200 million in user assets.

  2. The company has left a message for the hacker, offering a $20M bug bounty for the return of the assets.

  3. The transaction was confirmed on block 18225451, with a timestamp of Sep-27-2023 06:55:59 AM +UTC.

Mixin Network, a Hong Kong-based decentralized cross-chain transfer protocol, suffered a significant security breach on September 23, 2023. The hack led to an estimated loss of $200 million in assets, primarily in Bitcoin. The company immediately suspended deposits and withdrawals but maintained that intra-network transfers would remain operational. Before the incident, Mixin had nearly $400 million across 48 chains locked in its protocol, according to data provided by DefiLlama.

The Message to the Hacker

In an unprecedented move, Mixin Network has communicated directly with the hacker via a transaction message. The message reads, “Most of our platform assets were users’, and we hope you can refund them. You can keep $20M of the assets as a BUG Bounty Reward for the BUG. Contact us via bug@mixin.one for the reward details.” The transaction was confirmed on block 18225451, with a timestamp of Sep-27-2023 06:55:59 AM +UTC. The transaction fee was a mere 0.00016736127846444 ETH, equivalent to $0.27.

Background Investigations and Exchange Involvement

Cybersecurity watchdog Cyvers Alerts has been investigating the incident and revealed that two hacker addresses received 51 ETH from an account that had previous interactions with major cryptocurrency exchanges Huobi Global and Binance. The watchdog has called on these exchanges to assist in identifying the account linked to the suspicious transactions. Blockchain security firm SlowMist has also been enlisted to assist in the ongoing investigation. The involvement of these major exchanges could be crucial in tracing the origins of the funds and possibly recovering some of the stolen assets.

Controversies and Community Reactions

The hack has sparked debates and controversies within the crypto community. Zhuoer Jiang, CEO of Bitcoin mining pool BTC.TOP, claimed that Bitcoin stored in the Mixin protocol “should have never been stolen in the first place” and should have been “kept in cold storage.” Mixin founder Xiaodong Feng announced that the company would compensate users “up to a maximum of 50%” for the stolen assets. The remainder would be distributed to users as “tokenized liability claims” that Mixin would eventually repurchase “with its future profits.”

The Larger Implications

The Mixin Network hack serves as a stark reminder of the vulnerabilities that exist within the cryptocurrency ecosystem. Cyvers Alerts emphasized the need to strengthen cybersecurity measures to prevent future incidents of this nature. The incident has sparked concern in the crypto community, given the recent spate of similar hacks.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.


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Suspicious Transactions Linked to Mixin Network Hack Involve Huobi and Binance

by Blockchain News

Key Takeaways

Internal investigation by Cyvers Alerts reveals suspicious transactions involving Mixin Network hacker addresses.

Two hacker addresses received 51 ETH from an account that interacted with Huobi Global and Binance.

Calls for Huobi Global, Binance, and CZ Binance to help identify the suspicious account.

Investigation Unveils Suspicious Funding

Cyvers Alerts, a cybersecurity watchdog, recently updated its ongoing investigation into the Mixin Network hack that occurred on September 23, 2023. The breach led to a loss of $200 million and temporarily suspended Mixin Network’s deposit and withdrawal services. According to Cyvers Alerts, two hacker addresses received 51 ETH from an account with the address 0x1795F0eBDa5A836aE63F28CE546E72de069A8bd2. This account had previous interactions with major cryptocurrency exchanges Huobi Global and Binance.

On September 23, 2023, Mixin Network suffered a major security breach, leading to an estimated loss of $200 million. The attack targeted Mixin’s cloud service provider database. Blockchain security firm SlowMist has been enlisted to assist in the ongoing investigation, and a security alert has been issued. Deposit and withdrawal services on Mixin Network are temporarily suspended, although intra-network transfers remain operational. The incident has sparked concern in the crypto community, given the recent spate of similar hacks. Mixin founder Feng Xiaodong is scheduled to address the situation in a public livestream.

The Role of Disperse and USDT Holders

The hackers reportedly used the “disperse” function to send gas fees to USDT holders before transferring the stolen funds to their main address. This method could potentially make tracking the stolen assets more complicated, adding another layer of complexity to the ongoing investigation.

Calls for Exchange Involvement

Cyvers Alerts has publicly called on Huobi Global, Binance, and CZ Binance to assist in identifying the account linked to the suspicious transactions. The involvement of these major exchanges could be crucial in tracing the origins of the funds and possibly recovering some of the stolen assets.

Strengthening Cybersecurity Measures

The Mixin Network hack serves as a stark reminder of the vulnerabilities that exist within the cryptocurrency ecosystem. Cyvers Alerts emphasized the need to strengthen cybersecurity measures to prevent future incidents of this nature.

Summary

Cyvers Alerts has discovered suspicious transactions linked to the recent Mixin Network hack. Two hacker addresses received 51 ETH from an account that had interactions with Huobi Global and Binance. The watchdog has called on these exchanges to help identify the suspicious account as part of ongoing investigations.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Binance CEO CZ Draws on Eleanor Roosevelt Quote to Discuss Market Predictability

by Blockchain News

Key Takeaways

CZ, the CEO of Binance, tweets about the unpredictable nature of markets.

The tweet is adapted from a quote by Eleanor Roosevelt.

The tweet garners significant attention, with over 355.8K views.

Contextualizing Market Unpredictability

Changpeng Zhao, commonly known as CZ, the CEO of Binance, took to Twitter on September 24, 2023, to share his thoughts on market predictability. In a tweet that has since garnered over 355.8K views, CZ stated, “If markets are predictable it would cease to be markets and be without profits.”

The Eleanor Roosevelt Connection

CZ’s tweet was not an original thought but an adaptation of a quote by Eleanor Roosevelt, the former First Lady of the United States. The original quote from Roosevelt is, “If life were predictable it would cease to be life and be without flavor.” CZ acknowledged the adaptation with a follow-up tweet, adding a laughing emoji and stating, “Copied/adapted 😂, from: Eleanor Roosevelt.”

Public Reaction

The tweet has sparked a conversation among crypto enthusiasts and market analysts. A user named @TheCryptoBlade replied to CZ’s tweet asking, “Now is the time CZ?” The question seems to probe the timing of CZ’s statement, possibly in relation to current market conditions.

Implications for Market Participants

The tweet underscores the inherent volatility and unpredictability that characterize financial markets, especially the cryptocurrency market. While some may view unpredictability as a risk, others see it as an opportunity for profit. CZ’s tweet serves as a reminder that the market’s unpredictable nature is what makes it a space for potential gains.

Summary

Binance CEO Changpeng Zhao, also known as CZ, tweeted about the unpredictability of markets, adapting a quote from Eleanor Roosevelt. The tweet has received significant attention, with over 355.8K views, and has sparked discussions about the nature of financial markets. The statement serves as a reminder of the inherent volatility that offers both risks and opportunities for market participants.

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Binance Launches Referral Promotion for African Users with 17,500 USDT in Token Voucher Rewards

by Blockchain News

Binance has rolled out a new referral scheme targeting users in the Africa region. The promotion, which runs from September 18, 2023, 11:00 (UTC) to October 2, 2023, 11:59 (UTC), offers participants a chance to share a total reward pool of 17,500 USDT in token vouchers.

Key Details of the Promotion

Referrer Rewards: Users referring friends to Binance can share a pool of 11,000 USDT in token vouchers. To be eligible:

Register and achieve a minimum of two successful referrals within the promotion timeframe.

A successful referral is defined as a new user who registers using the referrer’s link and completes the KYC process during the promotion period.

The reward distribution based on the number of successful referrals is as follows:

1st Place: 350 USDT

2nd Place: 300 USDT

3rd Place: 200 USDT

4th Place: 150 USDT

5th to 55th Places: A portion of an 8,000 USDT reward pool, with a maximum of 100 USDT per user.

All other eligible participants: An equal share from a 2,000 USDT pool, capped at 100 USDT.

Referral Rewards: The first 1,500 referrals registering and completing KYC will each receive a 3 USDT token voucher. Additionally, the initial 200 of these referrals making a spot trade of at least $20 in cryptocurrency will earn a 10 USDT token voucher.

Terms to Note

Only users who complete KYC in the Africa region are eligible for the rewards.

Each new Binance user can be referred through one mode only.

Referrers can participate in Promotion A, while referrals can earn from both Promotions A and B.

In case of a tie in referrals, the user who reaches the number first gets preference.

USDT token voucher rewards will be distributed within 20 days post-promotion, expiring seven days after distribution.

Binance holds the right to disqualify participants for any dishonest activities, including bulk-account registrations.

Binance may amend these terms without prior notice.

This promotion underscores Binance’s commitment to expanding its user base in the African region. However, potential participants should be aware of the terms and ensure compliance to maximize their rewards.

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Binance Revamps Fiat Liquidity Provider Program with New Eligibility Criteria and Incentives

by Blockchain News

Crypto Exchange Binance has announced updates to its Fiat Liquidity Provider Program, slated to come into effect from 25th September 2023 at 00:00 (UTC). The newly introduced changes emphasize a shift in the program’s review mechanism and incentives offered to liquidity providers.

Key Highlights of the Program Updates

1. Scope Limitation: The updated program will be restricted only to the specific fiat markets enumerated on Binance.com.

2. Performance Review: From 25th September 2023, liquidity providers will undergo a weekly evaluation based on a revised performance review mechanism. This review will shift from a symbol basis to an individual fiat market basis.

3. Maker Fee Rebates: Starting 2nd October 2023, 00:00 (UTC), rebates on the maker fees will be awarded to liquidity providers. These rebates will be rooted in the past week’s trading activity across the chosen fiat markets. 

The eligible fiat markets and associated rebates are as follows:

1. TRY and EUR: 2.0% User’s Weekly Spot Maker Volume with a -0.004% Maker Fee Rebate Rate.

2. BRL, GBP, RUB: 1.0% User’s Weekly Spot Maker Volume with a -0.006% Maker Fee Rebate Rate.

3. ZAR, PLN, NGN, UAH, RON: 0.5% User’s Weekly Spot Maker Volume with a -0.010% Maker Fee Rebate Rate.

4. ARS: 0.2% User’s Weekly Spot Maker Volume with a -0.010% Maker Fee Rebate Rate.

The formula for computing a user’s Weekly Spot Maker Volume percentage is as follows:

[User’s Weekly Spot Maker Volume % of the Total Binance Spot Maker Volume in Each Fiat Market] = [Each account’s weekly spot maker volume in each fiat market] divided by [Weekly maker volume in each fiat market on Binance Spot].

It’s further defined that a day spans from 00:00 (UTC) to 23:59 (UTC), while a week commences at 00:00 (UTC) on Monday and concludes at 23:59 (UTC) on Sunday.

Incentives and Eligibility

For the *Qualified Fiat Markets*: Participants will receive maker rebates and regular VIP taker fees on all pairs.

For *Unqualified Fiat Markets*: Participants will benefit from zero maker fees and standard VIP taker fees.

Participation Criteria

Traders who’ve amassed a 30-day trading volume exceeding 20,000,000 USDT on Binance’s Spot and Margin or on other platforms and can demonstrate competent liquidity providing strategies are invited to enroll in the Fiat Liquidity Provider Program. Aspirants are required to submit proof of their trading volume.

It’s worth noting that Binance reserves the right to modify the terms and conditions or disqualify participants, especially if an account is implicated in dishonest activities, like wash trading or market manipulation. Additionally, participants not meeting the required standards for three consecutive weeks will be excluded from the program.

The Binance Team concluded the announcement by appreciating the support of its users and directed those seeking more dedicated VIP and Institutional services to a specific link.

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Will the Binance.US CEO’s Resignation Trigger a Domino Effect?

by Blockchain News

Staffing and Executive Changes

Binance.US, the American subsidiary of the global cryptocurrency exchange, has recently undergone significant staffing changes. The company confirmed the departure of its president and CEO, Brian Shroder, who had joined the firm in September 2021. This move has raised questions in the industry about whether Shroder’s exit could trigger a “domino effect,” leading to further high-profile departures or changes. Alongside Shroder’s exit, approximately 100 positions, or a third of the company’s workforce, have been eliminated. Chief Legal Officer Norman Reed has stepped in as the interim replacement for Shroder.

A spokeswoman for Binance.US claimed in a statement that the company’s recent moves were motivated by the SEC’s aggressive attempts to cripple our industry, highlighting the negative effects on innovation and real-world jobs in the United States. The company’s commitment to its clients and its goal to secure “more than seven years of financial runway” while it switches to a crypto-only exchange model were both further reaffirmed by the spokesperson.

Regulatory Issues

Binance, Binance.US, and the exchange’s co-founder Changpeng “CZ” Zhao are the targets of legal actions by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission. The accusations include running an unauthorized exchange, offering unregistered securities, breaking the law on commodities, and misusing client cash. In reaction to these regulatory constraints, Binance.US temporarily stopped all fiat withdrawal channels and froze dollar deposits on June 9. 

Binance faces heightened regulatory scrutiny globally. Recently, the Australian Securities and Investments Commission (ASIC) conducted a search at Binance Australia’s offices, probing its now-defunct local derivatives business. This comes after Binance Australia’s derivatives operation license was revoked in April. Additionally, on May 18, 2023, Binance halted PayID AUD deposits due to third-party payment provider issues. European regulators, including Belgium’s FSMA and Germany’s Bafin, have also posed challenges for the crypto giant.

A decline in market share

According to Reuters,  Binance.US’s market share has showen a dramatic decline. Market share for the exchange in the United States fell precipitously from over 22% in April to roughly 0.9% by June 26. The fact that Binance.US’s worldwide market share has also dropped recently, from 2.39% to just 0.6%, emphasizes this reduction even more. According to reports, the company’s trading volume is less than estimates from early 2020.

Community Responses

The future of Binance and Binance.US has become a source of considerable concern for the cryptocurrency community. An influential Twitter account in the cryptocurrency world named WhaleWire expressed grave concerns regarding Binance’s future. He even used analogies to warn that Binance’s possible demise would eclipse even FTX’s.

Binance is a complete disaster. 

When 95% of your executives resign in the span of a year, you know something isn’t right… 

They will eventually blow up, and have an even larger explosion than FTX. Don’t be surprised when it happens.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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