This week, on September 29, Changpeng Zhao (CZ), the founder and former CEO of Binance, will be released from prison after serving a four-month sentence. His release could have a significant impact on the crypto market, as CZ is one of the key figures in the industry. Therefore, it is worth paying attention to six altcoins that are likely to be affected by this event.
Binance Coin (BNB)
A native token of the Binance ecosystem.
When CZ announced its cooperation with the US Department of Justice last November, Binance Coin (BNB) dropped by 10%. After the sentencing of the exchange’s founder was announced in April this year, the price of the asset dropped. Although not significantly. So far, the charts do not indicate that the price can rise, so the asset is slowly being bought up.
AltLayer (ALT)
A decentralized protocol that facilitates the launch of native and restaking rollups using ZK-Rollups and Optimistic Rollups
Technology for lower-cost and faster transactions on the Ethereum network. . At the beginning of this year, the project appeared on the Binance Launchpool. Over the past month, the price has been rising. Over the past 24 hours, the price of ALT has reached $0.1147 (+15.09%), while the market capitalization has increased by 15.10% and now reaches $254 million, and the trading volume has grown by 309.82% — to $85 million.
Ethena (ENA)
Ethena (ENA) is a protocol associated with the Ethena USDe (USDe) stablecoin. The project became known in March after being added to the Binance Launchpool, a token launch platform.
Renzo (REZ)
Binance Labs has invested in the Renzo Protocol (REZ) to solve problems with liquid restaking. REZ price and trading volume have been growing rapidly over the past few days. Over the past 6 days, the price has increased from $0.03146 to $0.04173 (+32.84%).
Arkham (ARKM)
The Arkham analytics platform token (ARKM), in which Binance Labs invested in November last year. After that, the altcoin skyrocketed in price.
As of this writing, over the past 24 hours, ARKM’s price has risen by 20.09% to $1.40, its market capitalization has decreased by 18.46% to $315 million, and its trading volume has jumped by 202.19% to $103 million.
Sleepless AI (AI)
Sleepless AI is a Web3 gaming platform that combines blockchain and artificial intelligence. Users can earn AI tokens through stakingThe process of blocking a certain amount of cryptocurrency to protect and maintain the blockchain network. Stakers are rewarded for this. on Binance Launchpool. Over the past 24 hours, AI tokens have increased in value by 14.08% to reach $0.4948. The market capitalization has increased by 14.07% — to $107 million, and the trading volume has increased by 122.44% to $39 million.
What happened to CZ?
In June 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against CZ and Binance on 13 charges of violating U.S. securities regulations. In November 2023, CZ agreed to step down as CEO of Binance and pay a $50 million fine after pleading guilty to federal charges. Binance also paid a $4.3 billion fine.
In April 2024, CZ was sentenced to four months in prison for money laundering.
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