Last Week in Crypto: Leadership Change at Binance, New Lawsuit Against Kraken, and Pro-Bitcoin Outlook in Argentina

Welcome to our weekly update in the exciting world of cryptocurrencies!

This Monday, November 27, 2023, 7:58:36 AM CET (1:58:36 AM EST), let’s review the current prices of the week for the top ten cryptocurrencies according to Coin Market Cap, excluding USDC and Testher.

  1. Bitcoin (BTC): $37,015.53
  2. Ethereum (ETH): $2,022.50
  3. BNB (BNB): $226.86
  4. XRP (XRP): $0.6042
  5. Solana (SOL): $54.95
  6. Cardano (ADA): $0.3809
  7. Dogecoin (DOGE): $0.07905
  8. TRON (TRX): $0.1043

Leadership Change at Binance: CZ Resigns as CEO In a surprising announcement, Changpeng Zhao (CZ), founder of Binance, revealed his resignation as CEO, acknowledging past challenges and handing over leadership to Richard Teng, an experienced professional in financial services and regulation. CZ expressed excitement about his future as a passive investor and mentor, emphasizing his commitment to transparency and fund security at Binance.

New Lawsuit Against Kraken by the SEC In another notable development, the U.S. Securities and Exchange Commission (SEC) filed a new lawsuit against Kraken, alleging that the exchange operated without registering as an online trading platform. This event underscores the growing regulatory scrutiny in the cryptocurrency space and highlights the importance of legality and transparency in the sector.

Pro-Bitcoin Outlook in Argentina with the President-Elect and His Stance on Bitcoin According to reports from Decrypt, Argentina’s president-elect, Javier Milei, positions himself as a passionate advocate for Bitcoin, considering it “the return of money to the private sector.” He vehemently criticizes the Argentine central bank as a “historical deception” through “inflationary taxes” and advocates for dollarization in 2025 to combat inflation. His anti-central bank stance raises questions about the role he will assign to Bitcoin. As an economist and political outsider, Milei proposes eliminating the central bank, opposing a CBDC as he sees it as governmental control and a limitation of financial freedom. In contrast, Massa, a supporter of CBDC, views it as a tool for the economic control of the central bank.

Bitcoin User Pays Astonishing $3.1 Million Transaction Fee for 139 BTC Transfer, Sparking Speculation in the Community In a surprising event in the cryptocurrency world, a Bitcoin user conducted a 139 BTC transfer with an astonishing transaction fee of $3.1 million. This eye-catching transaction has sparked speculation and questions in the crypto community about the reason behind such an extraordinarily high transaction fee. While Bitcoin transaction fees typically vary based on network congestion, this standout figure has left many bewildered. The community is debating whether it was a human error, a deliberate transaction with specific motives, or some other unusual phenomenon. This incident has underscored the importance and need to fully understand the process of sending cryptocurrencies, as well as the implications of associated fees. 

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