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Binance doesn’t see a clear roadmap for getting exec out of NigeriaNoah Perlman, Binance’s Chief Compliance Officer, dis...
04/06/2024

Binance doesn’t see a clear roadmap for getting exec out of Nigeria

Noah Perlman, Binance’s Chief Compliance Officer, discussed the latest in the legal battle involving Nigeria and Binance executive Tigran Gambaryan.

Perlman commented on the ongoing saga involving two Binance executives and the Nigerian government without giving much hope for a resolution anytime soon.

“We don’t really see a clear roadmap to getting him back in the near term,” said Perlman during an interview with CNBC, in reference to Tigran Gambaryan.

Perlman said that Binance is doing as much as possible to get Gambaryan back to the United States, but the U.S. government has most of the power in negotiations. Gambaryan has worked for the IRS in the past.

“I have faith in the us government to do the right thing here,” Perlman said.

Gambaryan is suspected of having malaria after collapsing in court on May 24. Despite a court order for his transfer to a hospital, Gambaryan has not been moved from prison, where inadequate medical facilities are hindering proper diagnosis and treatment.

“We suspect he may have malaria. He slumped in court today,” Perlman said.

Citing past Binance negotiations, Perlman emphasized the company’s willingness to cooperate with authorities.

“If [Binance] has done something wrong in the past, and I’m not saying that we have or we haven’t, but if we have, we want to come to the table and resolve it,” Perlman said. “And our message to the Nigerian government is you don’t need to hold on to Tigrin.”

The Binance CCO gave little hope for a resolution between Nigeria and Binance executive Tigran Gambaryan. “We don't really see a clear roadmap to getting him back in the near term.”

Tether investing up to $150M in crypto mining firm BitdeerOn Friday, Tether announced that it had entered into a subscri...
02/06/2024

Tether investing up to $150M in crypto mining firm Bitdeer

On Friday, Tether announced that it had entered into a subscription agreement with Bitdeer to buy up to $150 million worth of shares in a private placement.

The agreement includes 18,587,360 Class A ordinary shares and a warrant to purchase up to 5,000,000 additional shares at $10.00 per share, per the press release. Bitdeer shares are currently trading between $6 to $7 a share.

On Thursday, the private placement transaction yielded $100 million in gross proceeds from the share issuance, with the chance to raise an additional $50 million if the warrant is fully exercised.

“We regard Bitdeer as one of the strongest vertically integrated operators in the Bitcoin mining industry, differentiated by its cutting-edge technologies, and a robust R&D organization,” said Paolo Ardoino, CEO of Tether, in the press release. “Bitdeer’s proven track record and world-class management team are perfectly aligned with Tether’s long-term strategic vision. We anticipate close collaboration with Bitdeer across several key infrastructure areas moving forward.”

Bitdeer’s stock (BTDR) is up over 13% in intraday trading at the time of writing, indicating the market’s positive response to Tether’s investment.

Tether announced a subscription agreement with Bitdeer to buy up to $150 million of its shares in a private placement.

Binance founder Changpeng Zhao has reportedly arrived at a low-security federal prison in Lompoc, California, to begin h...
02/06/2024

Binance founder Changpeng Zhao has reportedly arrived at a low-security federal prison in Lompoc, California, to begin his four-month sentence.

The news was confirmed by his legal team from Latham and Watkins, according to CNBC. EljaBoom, a well-known blockchain influencer and crypto investor, also shared the update on X.

Referring to Zhao as his “friend,” Boom stated that the former Binance CEO had started his prison sentence in a low-security federal prison in Lompoc, California. “Low security means prisoners have more freedom because they are not considered dangerous and are trusted not to escape,” he added.

Zhao, often referred to as “CZ” in crypto circles, was sentenced to four months in prison in April after pleading guilty to charges that Binance violated U.S. anti-money laundering laws.

Crypto influencer and investor EljaBoom poses with 'friend' CZ, the former Binance chief. Zhao started his prison sentence in a low-security federal prison in California.

What Is Yield Farming? Complete A Beginner’s GuideYield farming, also known as liquidity mining, involves deploying digi...
31/05/2024

What Is Yield Farming? Complete A Beginner’s Guide

Yield farming, also known as liquidity mining, involves deploying digital assets in decentralized finance protocols to earn token rewards for providing liquidity in the DeFi markets.

A yield farmer (also known as a liquidity provider) typically deposits crypto assets in an autonomous trading or lending pool in exchange for trading fees or interest payments plus yield farming rewards paid out in protocol tokens to earn additional yield.

Since the breakthrough year of 2020, decentralized finance (DeFi) applications have seen market capitalization skyrocketing from $500 million to about $10

Robert Kennedy Jr at Consensus 2024: Crypto is freedom, transparencyU.S. Independent Presidential candidate Robert F. Ke...
31/05/2024

Robert Kennedy Jr at Consensus 2024: Crypto is freedom, transparency

U.S. Independent Presidential candidate Robert F. Kennedy Jr said transactional freedom through crypto must be protected to ensure economic growth.

Commenting on Donald Trump’s U-turn on crypto policy, Kennedy Jr lauded the revamped view and implored President Joe Biden to side with innovation in America by supporting crypto. “I’m not going to question if it was a political decision, I’m happy he did it and I hope President Biden does too”, said the politician.

Kennedy Jr abstained from commenting on Trump’s conviction, as industry observers pondered how the court ruling might impact the Republican pro-crypto candidate.

The presidential candidate added that more figures like SEC Chair Gary Gensler should recognize and encourage decentralized currencies like Bitcoin (BTC), which offer a solution to diluted monetary instruments currently overshadowing the U.S. capital ecosystem.

Blockchain technology and cryptocurrencies can power a democratized market economy where investors and individuals control their wealth outside government interference, per Kennedy Jr’s comments at Consensus 2024.

U.S. Independent Presidential candidate Robert F. Kennedy Jr said transactional freedom through crypto must be protected to ensure economic growth.

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