"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto stories of the day, including the latest developments for Binance as founder and former CEO Changpeng "CZ" Zhao steps down as chairman of the global exchange's U.S. affiliate's board.
Soy exits crypto and CZ steps down from another post. You're watching coin desk daily. I'm your host, Shan Sanas. All right, let's check the markets now. Bitcoin breached $38,000 this morning as excitement around a spot. Bitcoin ETF approval gained traction earlier in the week and traditional market watchers expect rate cuts. Bitcoin is currently trading hands around $37,800. Solana's native token Seoul is leading the gains among layer one blockchains jumping around 8% on the day to reverse losses from the past week. Finance founder Chen Pang Zhao is stepping down from the Board of Finance Us after pleading guilty to violating the Bank Secrecy Act. Last week, the former CEO of the crypto exchange will transfer his voting shares to a proxy. This comes as Coinbase. Ce Brian Armstrong says the industry can finally close the chapter of bad actors after the $4.3 billion settlement between finance and the US Department of Justice Armstrong made those comments during an interview with C NBC in London Financial Services platform, SOFI is ending its crypto services. The company emailed customers Wednesday announcing they will need to liquidate their crypto accounts or move to blockchain.com by December 19th. The exit is due to increased scrutiny of the crypto space by banking regulators and Twitter, co founder, Jack Dorsey has led a $6 million seed funding round for a new Bitcoin mining pool. The funding will support the launch of ocean, a decentralized mining tool that aims to reshape the process of Bitcoin mining in the press release, Dorsey said quote and I see a project that is good for Bitcoin broadly and that's also good for me and my companies personally. It becomes a simple decision for me and I'm happy to be a part of it. That's a wrap for coin desk daily, get more updates on coindesk.com and we'll see you next time.