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U.S. securities regulator Grayscale discussed Changpeng “CZ” Zhao’s resignation as CEO of Binance, as part of a plea deal with the U.S., and the transfer of $3.9 billion in Tether.
Details about the Grayscale spot Bitcoin ETF have been worked out with the SEC.
On november 20, grayscale officials, including ceo michael sonnenshein, met with the sec to talkabout the company’s main product, the grayscale bitcoin trust. The asset manager wants to make this fund a spot bitcoin exchange-traded fund (etf).
“NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E” was the subject of the talks.
Bloomberg etf expert james seyffart said that grayscale signed a transfer agency and service agreement with bny mellon. Bny mellon will be the agent for grayscale’s bitcoin trust (gbtc), making it easier for shares to be issued and redeemed and keeping track of client accounts.
Seyffart also said that grayscale’s deal with bny mellon was “Likely something that was always going to be required at some point” and doesn’t mean that the gbtc will be changed any time soon.
The meeting happened after an appeals court in the u.S. Told the sec in october to look again atits decision to turn down grayscale’s request to turn the gbtc into a spot etf.
CZ officially admits guilt and quits as CEO of Binance.
Changepeng “Cz” zhao, founder of binance, admitted to breaking u.S. Anti – money laundering rules, paid a $50 million fine, and quit as ceo of the cryptocurrency exchange.
As part of his plea deal, zhao will be able to keep his majority share, but he will not be able to work in any leadership role at binance.
Although the fine will end the case with the commodity futures trading commission and any outstanding claims from the treasury department, it will not end the case with the securities and exchange commission, which charged binance in june People are interested in Binance’s $3.9 billion USDT move because of reports of a DOJ deal.
People in the crypto community on x (formerly twitter) are now talking about a $3.9 billion usdtexchange binance funds that came up on social media after news that the Doj is in talks with the company about a $4 billion settlement.
On november 9, binance moved $3.9 billion in usdt from its tron wallet called “Binance cold 2” to its wallet called “Binance 3.”following the move,$300 million usdt was sent to a Different wallet, leaving about $3.6 billion in “Binance3.”
After the news about the settlement talks, different social media accounts began to make guessesabout the$3.9 billion move.
Some people were curious about the money and wanted to know where it came from and if it was meant topay the fines.
Since the amount and time of the move and the DOJ report are very close to each other, some X users are trying to make sense of them to see if there are any links between them.