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Peter Davis

An writer at FOMOdrive

  • Nov 28, 2023
  • 3 min read

Ethereum could skyrocket 18x

Changpeng Zhao, the ex-CEO of Binance, could be facing a maximum of ten years in prison.

Binance's new CEO has vowed to revolutionize the cryptocurrency exchange.

The past week has seen a significant increase in investments in crypto funds.

Ethereum network is set to undergo major changes, as proposed by Vitalik Buterin.

Once again, a single miner has successfully mined a block of Bitcoin.

CoinShares reported that investments in crypto funds surged last week, with an influx of $346 million. This marked the fifth consecutive week of significant inflows, and the ninth overall. Of the total, $312 million was invested in Bitcoin, $34 million in Ethereum, and $3.5 million in Solana. Meanwhile, funds that allow for shorting Bitcoin saw a decrease of $1 million.

There is a growing sense of optimism that spot Bitcoin ETFs will be approved, which has resulted in the largest capital inflows since the bull market of 2021. This, combined with the rising prices of Bitcoin, has caused the total assets under management (AuM) to reach a record high of $45.3 billion, according to CoinShares. This is the highest figure in the last year and a half.

Changpeng Zhao, the former CEO of Binance, should be allowed to remain free until the court's verdict is reached, however, he should not be allowed to leave the United States due to the potential risk of him fleeing. This is according to a new petition from the United States Department of Justice. If found guilty, Changpeng Zhao could face up to a decade in prison.

Richard Teng, the new CEO of Binance, compared the six-year-old platform to a child getting ready to start primary school, and stated that the company will be implementing a traditional corporate structure and disclosing information. He further explained that Binance will have to transition from an "unmanaged" technology startup to a regular financial company.

Token Terminal predicts that Ethereum could reach $36,800 by 2030. This is due to ETH's leading position in the number of DeFi protocols and NFT projects. Furthermore, its closest competitors, Solana and Cardano, do not have the same high throughput and flexible software as Ethereum.

Vitalik Buterin, the Ethereum co-founder, presented a strategy at the Devconnect event in Turkey to enhance the Ethereum staking mechanism and the overall performance of the blockchain. He is worried about the potential for centralizing liquid staking solutions on the ETH network, particularly in view of the activities of companies such as Lido Finance.

Hong Kong police have launched an investigation into crypto trading platform Hounax after receiving complaints from 131 people alleging fraud of HKD 120 million ($15.4 million).

83_5BTC, a user with a nickname, reported to be the victim of a hacker on November 23, after a transaction fee of $3.1 million was paid from his address. He stated that the attacker had stolen a total of 139 BTC ($5.2 million), including 83.65 BTC ($3.1 million) in transaction costs.

On average, a solo miner with a hardware hashrate of 2 PH/s will only solve a block once every five years. Recently, this miner was successful in mining a block in the blockchain of the first cryptocurrency, receiving a reward of 6.25 BTC ($230 thousand).

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