Binance Could Spend $1B on 2022 Investments

Binance Could Spend $1B on 2022 Investments

Binance Holdings founder and CEO Zhao “CZ” Changpeng has said the exchange could spend over $1 billion on acquisitions and investments, even in spite of the ongoing crypto winter, Bloomberg wrote.

Binance has thus far committed $325 million to 67 projects this year, compared with $140 million for 73 projects last year.

It also doesn’t take into account a possible over $200 million investment into the Forbes media company and $500 million to finance Elon Musk’s still up-in-the-air Twitter buyout, which might carry on into next year or maybe not get done at all.

Furthermore, one hundred police officers took to the streets of numerous Brazilian cities to serve warrants against Francisley Valdevino da Silva, who is accused of running a crypto pyramid scheme, Coindesk wrote.

There wasn’t any information as to whether he’d been arrested as of press time, but law enforcement said he’d been running a scheme that had raised $767 million.

A police report said he was known as the “cryptocurrency sheik” and was a former U.S. resident. He allegedly committed his crimes through promising high returns through alleged crypto operations since 2016.

Additionally, Huobi has agreed to sell itself to About Capital, a press release said.

About Capital has said that, after the transition is done, Huobi Global will see new business initiatives, including “a global strategic advisory board led by leading industry figures, the injection of sufficient capital in margin and risk provision fund, as well as measures to further enhance competitiveness.”

The goal is to complete the implementing of these new missives and provide trading and investment services for international investors.

Finally, Cointelgraph wrote that it’s been hard for bitcoin and the crypto markets to start a strong recovery amid the U.S. dollar being at a multi-year high and U.S. equities markets are near record lows.

Because of that, the report noted that sentiments are still negative and trades may not be interested in risks.

The U.S. equities markets were sharply down as of Oct. 7 after the release of September’s nonfarm payroll data, though there were some small gains.

Bitcoin is on track to finish the week with marginal gains around 2%. The coin has managed to avoid a collapse recently even amid the bruising the U.S. equities markets have gotten — showing that traders might not be willing to part with their holdings at lower levels, with less selling pressure now.

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