Weekly Crypto Digest for September 23-29, 2024
Sunday, September 29, 2024
In the latest issue of Weekly Crypto Digest, read about CZ's release from jail, Harris will support AI and Cryptocurrencies, Binance announced a pre-market trading service, and PayPal will allow corporate clients to buy and store crypto.
CZ of Binance Released
On September 28, Binance co-founder and former CEO Changpeng Zhao (CZ) was released two days ahead of his original prison term.
The entrepreneur was serving a four-month prison sentence on charges of money laundering and other illegal activities. As part of the agreement with the US Department of Justice, he agreed to pay a fine of $50 million and step down as CEO of the exchange.
In the coming years, he plans to devote significant attention to the educational initiative Giggle Academy and invest in the fields of blockchain, AI, and biotechnology. CZ also expects to finish a book, which, according to him, is two-thirds complete.
Harris Spoke Out In Support of AI and Cryptocurrencies
Kamala Harris said that if elected US president, she intends to encourage innovative technologies like AI and digital assets while protecting consumers and investors.
These areas are in line with her ideas about the opportunity economy.
Harris spoke out about cryptocurrency for the first time as a Democratic presidential candidate.
Play Solana Opens Pre-Orders for the PSG1 Gaming Console
On September 24, Play Solana opened pre-orders for the PSG1 portable gaming console with support for blockchain applications. The price of the device is $199.
The Web3 console was presented at the Solana Breakpoint conference in Singapore. The PSG1 supports games based on the Solana blockchain and has a built-in hardware wallet. NFT holders will also have access to exclusive updates and benefits in the Play Solana ecosystem, including participation in the distribution of the SPL governance token. The developers will announce details later.
Priority rights to pre-order within 48 hours were given to holders of the NFT <Player1> - a non-fungible token issued on the Magic Eden marketplace. It can now be purchased for a minimum of 1,334 SOL (~$196 at the time of writing).
The PSG1 console is scheduled to be released in Q2 2025.
Binance Announces Pre-Market Trading Service
The Binance cryptocurrency exchange has announced the launch of a pre-market trading service. It is known that users will be able to trade tokens that will be launched on the Binance Launchpool platform before listing.
A company representative said that, unlike competitors, Binance offers pre-market trading of “real tokens” and not derivatives.
Also, Binance Pre-Market is “a joint effort between Binance Spot and Binance Launchpool.” It is known that only tokens that are available on Binance Launchpool will be available for trading on the pre-market.
PayPal Will Allow Corporate Clients to Buy and Store Cryptocurrencies
PayPal, a payment service provider and issuer of the PYUSD stablecoin, has announced an expansion of its list of services for corporate clients. Now, business account holders will be able to buy, store, and sell cryptocurrency directly from their US accounts. The company said the service will be temporarily unavailable to customers in New York State. PayPal is known to have a virtual currency commercial license (BitLicense). In addition, the company has a trust license issued by the state Department of Financial Services.
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