Binance Founder CZ Released After Four-Month Sentence for AML Violations

Daily Top Performer — Arkham Intelligence (ARKM)

In September, the SPX index was up by 1.59%, the market rebounded from a weak start, supported by the Federal Reserve's 50 basis point rate cut, upbeat corporate earnings, and optimism for a soft landing. Investors were encouraged by cooling inflation, as seen in the August PCE index's 0.1% rise, raising hopes for more rate cuts. The focus now shifts to the September jobs report and key earnings from companies like Nike and Carnival. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 1.40%, with Bitcoin and Ether dropping by 1.57% and 1.53%, respectively in the past 24 hours.

Today's top performer is ARKM, which surged 1.5% following the announcement of Arkham's CAMPUS, a tech and culture pop-up in Punta Cana.

Arkham Intelligence (ARKM), founded on 2020, one of the top-performing meme coins in March 2024, is a crypto intelligence platform that uses advanced techniques to link blockchain transactions to real-world identities, enhancing transparency and efficiency in the market. Arkham is launching CAMPUS, a 3-day pop-up city in Punta Cana, Dominican Republic, from November 5-8, in collaboration with Praxis. The event will feature activities like polo matches, performances by world-class DJs, fireside chats, and keynotes from notable speakers, founders, and investors, along with health and fitness activities. Interested participants can apply to join the event.

Check Out the Latest Prices, Charts, and Data of ARKMUSDT Perp and ARKM/USDT Spot!

Talk of the Town:

Changpeng “CZ” Zhao, the founder and former CEO of Binance, was released from a U.S. federal prison on September 27 after serving four months for Anti-Money Laundering (AML) violations. CZ pleaded guilty in November to charges related to inadequate AML controls at Binance, the world's largest cryptocurrency exchange. He was originally sentenced to 36 months but received a reduced sentence due to a lack of evidence indicating he was aware of illegal activities at Binance. Following his release, Binance stated it was excited to see CZ's future endeavors, while the company continues to thrive under new leadership. CZ also agreed to pay a $50 million fine, and Binance paid $4.3 billion in penalties related to the violations. Despite the legal issues, CZ retains a majority stake in Binance, estimated at 90%.

Bitcoin Spot ETF Flows:

In September 2024, Bitcoin Spot ETFs saw significant fund flows. On 23 September, there were net inflows of $4.5M, driven by $44.8M in non-GBTC inflows, partially offset by $40.3M in GBTC outflows. The following days saw larger non-GBTC inflows, including $136M on 24 September, $105.9M, and $365.7M on 25 September, and the largest inflow of $494.4M on 27 September. The total inflows for the period reached $1.1B, while GBTC saw a cumulative outflow of $21.8M, contributing to a broader $18.8B overall inflow against $20.09B in GBTC outflows.

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