Apr 29, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as a Washington court received 161 letters of support for Binance co-founder Changpeng “CZ” Zhao.

Video transcript

161 letters have poured into the court asking for leniency for CZ and Tether invests in a brain computer interface company. You're watching coin desk daily. I'm your host, Jen Sani crypto. Markets are in the red amid new fears of us stagflation. A worst case scenario for risk assets. The market appears to be on a precipice right now as it debates which direction to take while significant bullish and bearish narratives are on the horizon. QC P wrote in a note that a period of high inflation and low growth also known as stagflation is very real weakening the probability of fed rate cuts. Meanwhile, the launch of Bitcoin exchange traded funds in Hong Kong is set for April 30th catching the eye of traders. 161 letters from Binance co-founder and former Ceo Czs friends and family have poured into the court ahead of his sentencing. On Tuesday. The letters requested leniency in his sentencing and his lawyers have asked that he be sentenced to probation only this while prosecutors are asking for a prison sentence of three years. Cz pleaded guilty to violating the Bank Secrecy Act in November last year. This is usually punished by probation only sentences and Tether buys a $200 million majority stake in brain computer interface company, Blackrock Neuro Tech via its venture capital division, Tether Evo, the technology firm is not related to the asset management giant Blackrock. The investment will fund the roll out and commercialization of the company's medical devices. Tether is the company behind us. DT, the largest stable coin with a market cap of 100 and $10 billion. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.

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