Binance CEO Changpeng "CZ" Zhao reportedly spent as much as $400 million on CoinMarketCap. If true, that’s a princely—if not laughable—sum, especially during a market crash of such historic proportions that investments and acquisitions in nearly every industry have dried up.
Like 1960s campus radicals, Bitcoin maximalists are enthusiastically praising the wisdom of a leader of Communist China. That’s because President Xi Jinping called for his country to “take the leading position in the emerging field of blockchain.”
Securities and Exchange Commission Chairman Jay Clayton said that agency is closer to approving a cryptocurrency ETF that would let retail investors invest in bitcoin through mainstream brokerage accounts.
Calling the cryptocurrency trading business ripe with fraud and manipulation, cryptocurrency data and indices provider CryptoCompare has begun rating the reliability of exchanges.