Binance.US CEO Exits; Coinbase CEO Calls Bitcoin 'Most Important Asset in Crypto'

Finance is cutting jobs and coin base. CEO talks about Bitcoin. You're watching Coindesk Daily, I'm your host, Jen Senai. Let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently trading around $26,000. That's after the release of new inflation data on a year over year basis. The consumer price index for August rose to 3.7% which was more than expected. And our first story, there's new fallout for Binance us, Ceo Brian Schroeder has left the crypto exchange and the company has eliminated one third of its workforce. That's according to a spokesperson. The exchange says the layoffs give it seven years of financial runway and blamed regulatory Tony for the move. Stating in part, quote, the s ECs aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and quote, the agency sued Binance in June for allegedly violating securities laws. FX founder Sam Baman freed will have to continue preparing his defense from behind bars. A federal judge refused his motion for a temporary release on Tuesday saying he was in a situation of his own making. The judge revoked his bond released last month after finding that SPF tried to interfere with witnesses. He's awaiting a criminal trial scheduled to begin in early October. And the Bitcoin is the most important asset in crypto. Those words are coming from coin based Ceo Brian Armstrong on X on Tuesday, Armstrong broke his silence on Bitcoin as the exchange announced that it is gearing up to integrate user access to the Bitcoin lightning network. The network is a layer two that uses Bitcoin for faster payments and deferred settlement. That's a wrap for coindesk daily. Get more updates on coindesk dot com and we'll see you next time.