In a development felt across the crypto landscape, Changpeng Zhao, popularly known as “CZ,” resigned as Binance CEO. This came in the wake of ongoing legal battles with the US Department of Justice (DOJ). He pleaded guilty to criminal charges relating to money laundering and violations of US sanctions. As part of the settlement, Zhao had to step down as CEO, and he faces a maximum sentence of 10 years in prison. As expected, it has been a long week in the crypto space.
Besides leaving his role as CEO, CZ will pay $200 million in fines as part of the settlement. Meanwhile, the exchange, Binance, will pay $4.3 billion in fines. This development has rocked the crypto community, particularly Binance. BNB, Binance’s utility token, will likely be impacted the most by this event.
With a shadow of uncertainty hovering above BNB, investors are opting for new AI token InQubeta (QUBE) instead. This article will explore the appeal of this up-and-coming AI crypto and why it is one of the best coins to invest in. In addition, it will cover the troubles in the Binance ecosystem.
InQubeta (QUBE): Solid Alternative Investment
Amidst the FUD in the crypto landscape, specifically surrounding BNB, InQubeta (QUBE) has emerged as a solid alternative. This top ICO saw a rapid uptick in investor interest in the last couple of days. At the moment, $5.3 million has been raised in its ongoing presale, suggesting confidence in its potential and value proposition. Being an AI altcoin, it sits at the intersection of two of the biggest industries in the world.
It aims to solve a critical problem in the AI sector, involving fundraising. It will become the first crowdfunding platform to allow AI startups to raise capital via cryptocurrency. Startups will source funds by minting investment opportunities, which will be tokenized as NFTs and offered to investors. Through fractionalization, investors will have democratized access to the lucrative AI market. They will be able to hold stakes in promising AI ventures regardless of their income. This makes it one of the new DeFi projects to anticipate in the coming months.
The presale is in its fifth stage, and a token costs only $0.0161. According to analysts, this project will likely see 50x growth after launch. This makes it the best new crypto to invest in.
Binance: Trouble in Paradise
In a development that has rocked the Binance ecosystem, Changpeng Zhao ‘CZ’ resigned as Binance CEO. That isn’t half of it; the circumstances surrounding his resignation are even more shocking. It is to be recalled that Binance has been facing a series of lawsuits, notably from the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). In an exciting turn of events, Binance and its CEO, Changpeng Zhao, pleaded guilty to criminal charges relating to money laundering violations as part of a DOJ settlement.
As part of the settlement, CZ had to leave his position as CEO and will pay $200 million in fines. He also faces a maximum sentence of 10 years in prison. The company, Binance, will also pay $4.3 billion in fines.
After his resignation on November 21, CZ addressed the crypto community via X (formerly Twitter). He expressed his confidence in Binance. In his words, “Binance is no longer a baby. Binance will be fine.” Amidst this, BNB has been caught in a web of uncertainty. It responded with a slight price decline, which might become worse in the coming days. Is it a good crypto to buy now? Well, with an anticipated decline in its price in the future, traders might get BNB at a much lower price in the coming days than now.
Conclusion
CZ’s stepping down as Binance CEO amidst legal battles has resulted in investors looking for options other than BNB. InQubeta has emerged as a compelling alternative investment. This new AI altcoin is positioned as one of the best cryptos to buy now.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
