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Quick Take Reactions to Changpeng Zhao’s punishment abounded on Tuesday as the former Binance CEO is set to serve four months in prison after pleading guilty to money laundering charges. With a net worth estimated over $40 billion, Zhao will become the richest person to ever serve time in a federal prison.
Bitcoin and ether lost around 3% and 5% over 24-hours, respectively, erasing Monday’s gains, after the first day of spot ETF trading in Hong Kong left much to be desired
Early bitcoin investor Roger Ver has been charged with alleged mail fraud, tax evasion and filing false tax returns. Ver supposedly concealed bitcoin ownership from the U.S. Internal Revenue Service and caused the purported loss of $48 million.
A significant decrease in the implied volatility of at-the-money options for ether and bitcoin suggests reduced confidence in the potential for higher prices, according to an analyst.
