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The Bad Crypto Podcast
The Binance and OpenAI Sagas - Bad News for Nov 28
Nov 28, 2023
CZ settles with SEC, US DOJ seizes Tether, Grayscale discusses ETF with SEC. Government hindering free enterprise. Thanksgiving celebrations and crypto updates. US government potentially moving. Patent dispute between ENS and Unstoppable Domains. Concerns about Grayscale's impact on Bitcoin markets. Motion brushing tool and success of Uncut Network. Reuniting with family, expect crypto boom in 2024.
35:19
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Quick takeaways
- Binance settles with the SEC for $4.3 billion, signaling a potential push for institutional players in the crypto market.
- OpenAI experiences internal conflicts over AI development, leading to changes in leadership and research direction.
Deep dives
Binance settles for $4.3 billion in a plea deal with SEC
Binance, one of the major players in the crypto industry, has reached a settlement with the SEC, agreeing to pay $4.3 billion in a plea deal. As part of the settlement, CEO CZ has stepped down from his position. Some speculate that this move could be seen as the government's attempt to clear the way for big institutional players like BlackRock and Vanguard to enter the crypto market.
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