Bitcoin and Binance tokens dip slightly as CZ is released
As the Binance founder Changpeng Zhao was released from custody on Sept. 27, the price of Bitcoin BTC ticked down $65,717.00 and Binance’s BNB
BNB down $601.14 token dipped slightly since the start of the trading day.
Zhao holds 64% of the total BNB supply, which places the entrepreneur’s net worth around $61 billion in June 2024 and makes him the 24th richest person in the world at the time, according to a Forbes report.
The vast holdings of Binance’s native currency have sparked concerns about the centralization of the token once the report was published.
Today, the 94 million BNB tokens held by Zhao represent roughly $57 billion in value at the time of writing.
UK Gambling Commission charges Sorare for unlicensed facilities
A Gambling Commission of the UK has charged blockchain-based fantasy sports operator Sorare with providing unlicensed gambling facilities. The France-based company is due to appear in UK court on Oct. 4.
This appears to have been in the making for three years.
Fantasy competition, collectable NFTs
The Gambling Commission had previously mounted only a single prosecution since its creation in 2005, according to The Guardian.
The commission provided little information in its announcement about Sorare:
“Football-themed website Sorare.com is due to appear in court next week charged with providing unlicensed gambling facilities to consumers in Britain.”
Propelled by crypto inflows, US ETF assets hit record $10 trillion
According to data from Bloomberg Intelligence and fund researcher Morningstar, total assets in United States exchange-traded funds (ETFs) surpassed $10 trillion for the first time on Sept. 27. This was propelled in part by inflows of more than $20 billion into cryptocurrency ETFs in 2024.
So far in 2024, investors have poured approximately $691 billion into US ETFs, according to Bloomberg. Crypto ETFs accounted for almost 3% of those total inflows.
A senior ETF analyst on X said, “We predict [ETFs] will hit $25T in the next ten years.”
