CandleFocus CZ’s release was supposed to launch Uptober — instead, we lost $200B
2024-10-04
Author: Content Editor
Summary:
Founder of Binance, Changpeng Zhao (CZ), recently walked free from prison after serving a four-month sentence and paying a $50 million fine. Many crypto investors were optimistic that his release would initiate a bull run, but the opposite has occurred. Since CZ's release, Binance's estimated market capitalization has decreased by $200 billion, and their exchange token has declined 9%. Despite high hopes for an October bull market, prices in the crypto market are currently heading in the wrong direction. CZ has made no public statements about his release or future plans.
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