Crypto Price Today: Bitcoin falls below $36.5k; BNB tanks 9% after Changpeng Zhao pleads guilty to money laundering violations
Meanwhile, Changpeng Zhao, the founder and CEO of Binance, resigned from his position and pleaded guilty to violating US anti-money laundering laws. This move comes as part of a historic $4.3 billion settlement to resolve a long-running investigation into Binance, the world's largest crypto exchange.
The fallout from the settlement marks another significant blow to the cryptocurrency industry, which has faced increasing scrutiny and investigations.
Following the Binance news, the global cryptocurrency market cap declined by 2.54% to around $1.38 trillion in the last 24 hours.
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View Details»At 10.58 a.m., BTC was trading 2.54% lower at $36,412, while BNB fell 9.2% at $236. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $711 billion.
Bitcoin went as low as $35.5k due to the Binance news but bounced back and is currently trading around $36.5k. Major resistance now lies around $37.5k. While Binance Coin (BNB) was amongst the loss-making cryptos in the past 24 hours, it was not the highest loss-making crypto which surprised crypto investors. Even after the news of the Binance CEO stepping down and pleading guilty to the charges applied to them, BNB has fallen from $270 to $233, said CoinSwitch Markets Desk.
The total volume in DeFi is currently $7.04 billion, 10.09% of the total crypto market 24-hour volume. The volume of all stablecoins is now $62.9 billion, which is
