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Post: Former Binance CEO’s Travel Permission: Denied by Judge | SEC Delays Decision on Ether ETFs to March | Speculation Rises on Musk’s X App Payments Feature

Former Binance CEO’s Travel Permission: Denied by Judge | SEC Delays Decision on Ether ETFs to March | Speculation Rises on Musk’s X App Payments Feature

Key Points:

  • Former Binance CEO Changpeng Zhao tried to pledge his multibillion-dollar stake in Binance.US as security to be permitted to travel back to the UAE temporarily.
  • The SEC has delayed a decision on BlackRock’s spot Ethereum ETF to March and has invited public comments on Grayscale’s Ether ETF proposal.
  • Elon Musk’s X app has created a dedicated account for its upcoming payments feature, fueling speculation about the integration of cryptocurrencies.

Former Binance CEO’s Travel Permission:

Former Binance CEO Changpeng Zhao attempted to pledge his multibillion-dollar stake in Binance.US as security in order to travel to the UAE temporarily. The court filing revealed that Zhao’s equity in the exchange was valued at $4.5 billion. He intended to visit the UAE for up to four weeks to support a friend or family member undergoing surgery. However, the request was denied by Judge Richard Jones.

SEC Delays Decision on Ether ETFs:

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on BlackRock’s spot Ethereum ETF to March, stating the need for additional time to review the proposed rule change. The SEC has also opened up an invitation for public comments on Grayscale’s Ether ETF proposal, resulting in an extension of the decision deadline by 35 days. Experts predict that the SEC may take the maximum allowable 240 days to decide on approving or denying the investment vehicle. Other applicants for an Ether ETF include VanEck, Ark 21Shares, Invesco Galaxy, and Fidelity.

Speculation Surrounding Musk’s X Payments Feature:

Elon Musk’s X app, previously known as Twitter, has created a dedicated account for its upcoming payments feature. This has led to speculation within the crypto community about the potential integration of cryptocurrencies. The X app is expected to introduce in-app payment services by mid-2024, but it remains uncertain whether it will support payments beyond traditional fiat currencies. The verified organization status and association with X indicated by the badges on the account add weight to the anticipation and curiosity surrounding the upcoming payments feature.

Hot Take:

The ongoing legal battle faced by Changpeng Zhao in securing travel permission highlights the complexities of regulatory compliance and personal freedom when significant financial assets are involved. Meanwhile, the SEC’s delay in decision-making on Ether ETFs only adds to the uncertainty and anticipation within the crypto space. Elon Musk’s foray into the payments industry with the X app raises questions about the potential impact and adoption of cryptocurrencies, as well as the future of digital payment services.


Original article: https://cointelegraph.com/magazine/czs-multibillion-dollar-travel-request-denied-sec-delays-ether-etfs-and-more-hodlers-digest-jan-21-27/

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