Loading...
⚖️ Binance's CZ Faces 3-Year Prison Sentence
Together with
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F270d930ac93e3f64717a02d93dd0734d104f1315-116x34.png&w=256&q=100)
GM Defiers!
The U.S. Department of Justice is requesting a 36-month prison sentence for Binance’s former CEO, Changpeng Zhou. CZ is awaiting sentencing on April 30, with prosecutors calling double the jail time requested by CZ as part of his guilty plea from November.
On-chain activity across Ethereum and its broader L2 ecosystem is booming, with both active wallets and transaction volume tagging all-time highs. Grayscale also filed for a mini spot Ethereum ETF despite the SEC pushing back the deadline on its decision regarding several applications for spot Ether exchange-traded funds.
Activity on Bitcoin is also soaring, with the launch of the Ordinals-based Runes protocol igniting a flurry of on-chain action. Arthur Hayes, the co-founder of BitMEX, is bullish on Ordinals, describing the NFT-like assets as a vehicle bringing crypto culture onto the pioneering blockchain.
Plus, the freshly-unlocked SAFE token debuted at a $1.2 billion market cap, but has since tumbled to less than $850 million.
✍️ In today’s newsletter:
- CZ could face 36 months behind bars
- Ethereum ecosystem’s tags new highs
- Grayscale files for mini Ether ETF
- Markets up as U.S. economic data looms
- Runes drive activity surge on Bitcoin
- Arthur Hayes says Ordinals are culture
- SAFE debuts at $1.2B market cap
🙏Sponsored
📈 Markets in the last 24 hrs:
Ticker | Value | 24h |
---|
Ticker | Value | 24h |
---|---|---|
Bitcoin | $66,379 | -0.69 % |
Ethereum | $3,216 0.51 | % |
Gold | 1st Future$2,335 0.10 | % |
S&P 500 | 5070.55 1.20 | % |
Arch Web | 32.24 | -2.16 % |
Learn more about Arch Indices ,[object Object] | % |
🎬 WATCH
Check out our interview with Nenad Palinkasevic, the founder of DeFi Saver. We explore the platform's beginnings, discuss strategies users adopt in different market conditions, delve into their various integrations, and uncover what the future holds for their roadmap.
THANKING OUR NEWSLETTER SPONSORS
| NEWSLETTER CONTINUES BELOW |
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F9612f3032f81761bc5c97d6e6262c402572cf942-180x60.png&w=384&q=100)
NEAR is the chain abstraction stack, empowering builders to create apps that scale to billions of users and across all blockchains.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F6aaaea50cd8e25ade328501ab880f371a8ed5a78-720x240.jpg&w=828&q=100)
DexToro is a decentralized derivatives exchange powered entirely by audited Ethereum smart contracts. Trade Crypto and Forex with up to 50x leverage with full custody of your assets. NO KYC.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F33c8d4fa4c4669d346cd1ee54855c423fe36ddd1-540x180.png&w=828&q=100)
Access crypto price, market data, metadata and on-chain DEX data on CoinGecko API, the world's most reliable cryptocurrency API tracking 2.4M+ cryptocurrencies across 140 networks. Get 15% off with code “DEFIANT15” at www.coingecko.com/api.
🚓U.S. Prosecutors Seek Three-Year Sentence For CZ
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fb71424f7b64238291a99c1aa6ca163e2cc58c617-1292x738.png&w=828&q=100)
The U.S. Department of Justice has requested a three-year prison sentence for CZ, the founder of Binance, double what the exchange’s former CEO requested as part of his guilty plea in November. CZ is accused of overseeing U.S. Bank Secrecy Act violations during his tenure.
🚀Ethereum Ecosystem Activity Soars to All-Time High
Combined activity across Ethereum’s mainnet and Layer 2 ecosystem is at record highs amid sky-high adoption of Polygon and Base. Weekly active wallets pushed past 10 million for the first time, while weekly transaction count has trended above 60 million for six weeks.
🤏Grayscale Seeks SEC Nod To Introduce ‘Mini’ Ethereum ETF
Grayscale submitted an application with the SEC for a “mini” spot Ether ETF that would be seeded with shares in the Grayscale Ethereum Trust — which the firm is hoping to convert into a spot ETF as well. The news comes as the May 23 deadline for the SEC to deliver a verdict on Ethereum ETF hopefuls quickly looms, with the also SEC postponing decisions concerning multiple Ether ETF applications.
⬆️Bitcoin, Ethereum Stage Relief Rally Ahead of U.S. Economic Data
Leading digital assets posted a brief rally as the markets await U.S. economic data set for release later this week. However, the bullish momentum was short-lived, with ETH and BTC both tumbling 2% over the past 24 hours.
SPONSORED POST
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F13dc11d0df08d4ffcdd3eee0db33cbf0d23bdc14-730x365.jpg&w=828&q=100)
Gamium platform brings people on-chain through #MSTs. A new trend to swap social tokens. People tokens by everyone, for everyone.
Unique, limited, and deflationary - MSTs are the blockchain representation of social profiles on X. Owning MSTs grants exclusive perks like referral commissions, Real Yield for top holders, and immersive 3D experiences with your favorite creators.
We invest in companies because we trust their leaders. Now, with MSTs, you can invest directly in the people you believe in.
The SocialFi revolution is here, and Gamium is leading the charge. Join the Gamium Beta now and start collecting MSTs before they go to the moon.
Learn more about MSTs: What are MSTs and why is everyone talking about it?
✈Bitcoin’s New Runes Protocol Fuels Sky High Transaction Fees
Bitcoin’s on-chain activity remains high amid the aftermath of the Runes airdrop, with a flurry of trading driving down the floor price of Runestones by 70% in the past seven days. Despite the bearish market momentum, the top NFT marketplaces are quickly moving to support the Ordinals-based assets.
🧍Arthur Hayes Says Ordinals ‘Bring Human Culture’ To Oldest Crypto Community
Arthur Hayes is vouching for Ordinals as memecoins as a vehicle for cultural expression on-chain. Hayes is putting his money where his mouth is, with the investor recently purchasing WZRD, an Ordinals-based token, pre-empting a 7,500% gain in just 14 days.
🔒Safe Token Trades at $1.2B Market Cap After Community Votes to Unpause Transfers
SAFE, the token from the largest multisig infrastructure provider, began trading at a $1.2 billion valuation after unlocking on Tuesday. However, the token has tumbled more than 40% since, despite Safe introducing a points program rewarding users who lock up their assets.
🌍 ELSEWHERE
- Crypto Custody Firm Fireblocks Now Offers DeFi Threat Detection for Institutions (CoinDesk)
- Sam Altman's Worldcoin meets Malaysian leaders as crypto project aims to bolster government ties (The Block)
- Jack Dorsey’s payments company, Block, is building its own bitcoin mining system (CNBC)
🔥 TRENDING
- BlackRock Would Still Pursue Spot Ether ETF If Ethereum Cops Securities Designation
- CoreDAO Brings Native Staking To Bitcoin
- Bitcoin Mining Stocks Thrive While Hash Rate Slides Post Halving
- Tether Partners With Telegram To Bring Crypto Payments To 900 Million Users
- DeFi Protocol Hedgey Finance Suffers $44M Hack
- Bitcoin Network Fees Soar as Runes Launch Nears
- Runestones Wants to Become the Biggest Memecoin Community, Says Creator
- How Real-World Assets Will Survive (and Evolve) in the Bull Market
- Arbitrum-based Perpetuals DEX Hyperliquid Crosses $450 Million In TVL
- Pixelverse Gears Up for Launch on Raiser.co
- Pixelverse Announces Play-to-Airdrop Campaign with 10 Million $PIXFI Token Distribution
The Defiant Alpha
“an industry must-read”
Get even more! For actionable insights and community access, Join The Defiant Alpha to receive:
- The Defiant Daily | Mon to Fri
- Weekly Recap | Saturdays
- DeFi Alpha | Sundays
- Access to exclusive degen chats and events