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On this week’s episode of The Market Report, Cointelegraph’s resident expert explains what is happening with Binance, Changpeng Zhao and the CFTC. This week on The Market Report, our beloved host, Joe Hall, and insightful expert Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to breakdown everything that is happening between the United States Commodities Futures and Trading Commission, Binance and Changpeng “CZ” Zhao. Breaking: Binance and CZ sued by CFTC over US regulatory violations The U.S. CFTC has filed suit against Binance and CEO CZ for trading violations, according to a Bloomberg report. According to the CFTC, Binance failed to meet its regulatory obligations by not properly registering with the derivatives regulator. The cryptocurrency exchange has been the focus of a CFTC investigation since 2021. The exchange acknowledged in February that it would likely face regulatory action in the U.S. and was already working with regulators. ...

However, ETH price is currently trading below $1,850 while implied volatility also dropped to a new all-time low. Ethereum risks falling to $1500 if it breaks the crucial support level. advertisement Binance CEO “CZ” Shares Bullish Outlook on Ethereum Binance CEO took to Twitter to share that locked ETH hit an ATH, mentioning “locked” ETH instead of “staked” ETH to give more focus on the price. It means he is bullish on Ethereum price as locked ETH and ETH staking continue to rise. Typically, an increase in the amount of ETH locked up may lead to a decrease in the overall supply of Ethereum tokens available in the market. The decrease in ETH will cause prices to rally higher. ETH locked means all ETH that is out of circulation, it includes ETH staked on the Beacon chain, ETH deposited to the Beacon contract but not validating yet, and rewards on the Beacon chain. Trending Stories XRP P...

According to Bloomberg's rich list, Binance CEO Changpeng “CZ” Zhao is supposed to be ranked in the top three finance billionaires worldwide. Changpeng “CZ” Zhao, CEO of major cryptocurrency exchange Binance, claims to hold a way less net worth than reported by some mainstream media. Binance CEO took to Twitter on April 27 to tell its followers that Bloomberg’s latest finance rich list has some inaccurate information regarding his wealth. According to Bloomberg's rich list, CZ is supposed to be ranked in the top three finance billionaires worldwide, holding a net worth estimated at $28.2 billion. “Numbers all wrong. I don't have anywhere near as much. Don't know why they do this,” CZ wrote. He also started his tweet with “4,” apparently implying that his wealth should be somewhere between Dan Gilbert’s $19.4 billion and Uday Kotak’s $13 billion. Source: Twitter Binance CEO also mentioned that he has never viewed the collapsed FTX Cryptocurrency Exchange as a rival. “We...