CZ Sentenced to Four Months in Prison, BTC Drops to $57,000, Hong Kong's BTC and ETH

NettyWorth is a social marketplace where you can Chat, Manage and Borrow against your digital assets.

1. Binance Founder Changpeng Zhao Sentenced to Four Months in Prison for Money Laundering Violations

Binance founder Changpeng Zhao, also known as CZ, has been sentenced to four months in prison for failing to establish an anti-money laundering program at the company. He pleaded guilty last November to money laundering violations. U.S. District Judge Richard Jones criticized Zhao for prioritizing Binance's growth over compliance with U.S. financial rules, leading to funds linked to virtual theft and terrorism flowing through Binance undetected. As part of a $4.3 billion settlement, Zhao agreed to exit the U.S. market, pay a $50 million fine, and stay out of Binance operations for at least three years. Zhao's lawyers argued for probation, citing other similar cases where incarceration was not used as punishment. Judge Jones ultimately sentenced Zhao to four months in prison.

2. Bitcoin Drops to $57,000 and Ethereum Below $3,000 in Pre-Fed Meeting Sell-off

Bitcoin and Ethereum prices have plummeted in anticipation of the Federal Reserve's upcoming meeting, with Bitcoin dropping to around $57,000 and Ethereum slipping below $3,000. The market-wide decline has resulted in significant liquidations of crypto futures positions, particularly long contracts. This downturn has affected not only major cryptocurrencies but also a majority of the top 100 cryptocurrencies by market capitalization. The Federal Open Markets Committee is set to announce its interest rate decision, with Fed Chair Jerome Powell scheduled to speak afterward.

3. Hong Kong's Bitcoin, Ether ETFs Garner Over $200M on Debut

On April 30, Hong Kong's debut spot Bitcoin and Ether exchange-traded funds (ETFs) attracted over $200 million in total assets. The Bosera HashKey ETFs gathered 964 Bitcoin and 4,290 Ether, totaling $71.94 million, while ChinaAMC's ETFs amassed $123.61 million. Despite the strong start, these numbers are lower than the billions attracted by U.S. spot Bitcoin ETFs in January. Hong Kong's ETFs allow non-Hong Kong nationals to invest if they meet local regulatory requirements and enable direct subscription using BTC and ETH.

1. Liquidations hit $420m, funding remains neutral

2. ETFs saw $344m withdrawals in April

3. CZ gets 4-month jail sentence

4. FTX sells $232m locked SOL at ‘around $100’

5. BlackRock BUIDL largest tokenised treasury fund

6. Hot coins: 4, MANEKI, MICHI, EPIK, USA

7. Hot NFTs: Azuki, Runestone, Blifstone

1. We launched detail pages for crypto currencies! You can now get more information on the cryptos you hold.

2. To bring awareness we have launched a $1,000 Meme Coin Giveaway with other monthly giveaways in the upcoming months.