Binance.US Legal Team: The $250 Million Loan Is a $250 Million Convertible Note Issued to CZ
According to court documents released this week, Binance CEO Zhao Changpeng obtained a $250 million loan from BAM Management US Holdings and then transferred it to BAM Trading. Binance.US legal team responded in the documents that BAM Management US Holdings issued $250 million convertible notes to Zhao in December.
Binance.US Cuts 100 Jobs and CEO Departs Amid Regulatory Scrutiny
Binance.US, the US-based branch of the cryptocurrency exchange, has reportedly laid off approximately one-third of its workforce, or 100 employees, and its CEO Brian Shroder has also left the company. According to a Binance.US spokesperson cited by Bloomberg on September 13, Shroder was temporarily replaced by Chief Legal Officer Norman Reed.
Du Jun Deposited 10 Million USDT Into Kraken Through the Address “0x946D” 5 Hours Ago
Lookonchain monitoring showed that Du Jun, CEO of New Fire Technology, deposited 10 million USDT into Kraken through the address "0x946D" 5 hours ago.
Wemade CEO Additionally Purchased More Than 69,000 WEMIX
WeMade CEO Jang Hyeon-guk purchased WEMIX for the 19th time in August using his WeMade stock dividends and salary. On August 25th, the Wemix Foundation announced Jang Hyeon-guk's purchase of WEMIX on its official website. As of this month, the WeMade CEO has purchased 69,104.89 WEMIX worth about 51.8 million Korean won through the Coinone exchange. Previously, Jang Hyeon-guk announced that he would use his own salary to purchase WEMIX to increase its value.
NFT Project Cool Cats CEO Stephen Teglas Announced His Resignation
On August 19th, it was announced that the CEO of NFT project Cool Cats, Stephen Teglas, has resigned. The founder and digital artist, Clon, will take over leadership responsibilities and oversee overall strategy and daily operations.
It is reported that Stephen Teglas previously worked at Disney and Warner Bros, where he was responsible for managing and commercializing their consumer product brands. During his time at Disney,
OpenAI CEO Responds to Rumors of Being Acquired by Microsoft: Our Company Is Not for Sale
CEO of OpenAI, Sam Altman, responded to rumors of Microsoft's possible acquisition of OpenAI, stating "Our company is not for sale, and OpenAI has a good relationship with Microsoft."
Hut 8 CEO: Continue To Diversify Business
Hut 8 CEO Jaime Leverton stated during a financial report conference call that the company is not simply focused on pursuing computing power and mining operations, but will continue to diversify its business. Leverton emphasized that this strategy is particularly important before the next Bitcoin halving. For example, the company entered the high-performance computing (HPC) field by acquiring wireless connectivity company TerraGo in January 2022.
Tether Redeems Over $325M USDT, Paolo Ardoino Addresses Concerns
Tether, a popular stablecoin, has redeemed over $325 million USDT today, according to Paolo Ardoino, the Chief Technical Officer of Tether. Many customers have successfully onboarded and are able to redeem their holdings. However, there has been some fear, uncertainty, and doubt (FUD) surrounding the thoroughness of Tether's onboarding process.
Core Scientific appoints Adam Sullivan as CEO amid restructuring process
Core Scientific, a publicly traded Bitcoin miner, has appointed Adam Sullivan as its new CEO. Sullivan, who previously served as the company's president, has over a decade of experience in digital assets and infrastructure. The change in leadership comes amid Core Scientific's restructuring process, which began after the company filed for Chapter 11 bankruptcy protection in December 2022. Despite this, the company has seen a boost in liquidity due to higher Bitcoin prices and reduced energy costs, and is expected to exit proceedings by September.
Binance CEO Denies Ever Attempting to Shut Down Binance. US
Binance CEO Changpeng Zhao (CZ) has criticized recent news reports claiming that former Binance.US CEO Brian Brooks was voted out by the Binance board. CZ called the quality of research, validation, and logical thinking in the reports "appalling," stating that a single vote holding out of three would not be enough to stop anything if it was a board vote.
