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• Binance settled with the SEC and agreed to pay $4.3 billion.

• Changpeng Zhao additionally agreed to step down as the CEO and pay $50M.

• Memeinator continued with its token sale as it raised over $1.4 million.

The crypto fear and greed index remained within the inexperienced this week even as the trade went by way of extreme challenges. Bitcoin surged to over $38,000 whereas crypto tokens like Superverse (SUPER), GameSwift, and EthereumPoW greater than doubled. In all, the entire market cap of all digital currencies approached the $1.5 trillion degree.

Binance and Kraken woes

The crypto trade had a number of vital occasions this week. It began with a significant lawsuit introduced by the Securities and Exchange Commission (SEC) against Kraken, one of many largest crypto exchanges on the earth.

The SEC alleged that the corporate operates as an unregistered securities alternate, placing hundreds of thousands of consumers in danger. It additionally operates illegally, offering dealer, vendor, and clearinghouse companies. Further, the alternate doesn’t do correct document maintaining, and that it commingles clients funds.

A day later, the SEC reached a settlement with Binance, the most important alternate on the earth. As a part of the settlement, ChangPeng Zhao, the corporate’s founder and CEO, agreed to step down and pay a $50 million advantageous. The alternate may also pay over $4 billion in fines.

Therefore, the worth motion of cryptocurrencies is an indication that traders have welcomed the brand new actions on Binance. Besides, regulatory challenges have been hanging across the crypto trade up to now few months. In an announcement, analysts at JPMorgan stated:

“Its market share loss should be contained going forward and perhaps partly reverse once the implications from the settlement on Binance’s operations and business model become more clear.”

Memeinator token sale doing nicely

Meanwhile, Memeinator has continued doing nicely as the token sale gains momentum. According to its web site, the builders have now raised over $1.49 billion from traders as demand rises. 

Data additionally exhibits that over 300k individuals have entered its promotional marketing campaign, the place the winner will get a ticket to go to house within the coming months. A Virgin Galactic journey is claimed to price over $200k.

Memeinator is aiming to make the most of two vital themes. First, it’s a meme coin that seeks to outperform different meme cash like MemeCoin (MEME), Pepe, and Bonk. All these tokens have surged just lately, creating millionaires alongside the way in which.

Second, there’s the theme of synthetic intelligence (AI), which is booming after the success of ChatGPT, Bard AI,  and Anthropic. Recently, AI tokens like SingularityNET (AGIX) and Fetch AI have been among the greatest performers within the trade. Therefore, there’s a probability that MMTR token will do nicely when it’s listed. You should buy the MMTR token here.

There are dangers for investing in Memeinator. As we’ve got seen with different tokens, there’s a threat that its worth is not going to rise after being listed. There can be the chance of pump and dumps. Therefore, you need to solely make investments funds you could afford to lose.