Why Binance and CZ Take Down is Good News For BlackRock, Spot Bitcoin ETFs and New $BTCETF Token That’s Raised $1.4m
Thursday, November 23, 2023 – The settlement of criminal charges against Binance and its CEO Changpeng Zhao (aka CZ) has sent shockwaves through the crypto industry, but the chances of a spot Bitcoin ETF approval have increased, which is good news for new coin Bitcoin ETF Token ($BTCETF).
$BTCETF has raised $1.4 million in days and its future value is tightly aligned with the price explosion expected to accompany the approval and launch of a spot Bitcoin ETF.
To take advantage of the lowest available price for the innovative new token, buyers will need to move quickly as the current ICO stage ends in less than 48 hours, after which the price rises in Stage 5 of the ICO from $0.0056 to $0.0058.
With Binance’s global exchange shuttered in the US, a clear and present bad actor in the market, in the eyes of the US Securities and Exchange Commission (SEC) at least, has been removed from the scene.
The Bitcoin price traded erratically as news seeped out about the settlement. BTC is down around 2% to currently trade at $36,650, still within the trading range of the past week or so. The main loser as far as top cryptocurrencies are concerned has been BNB, the native coin of the BNB exchange ecosystem, which is down 10% at $235.
Bitcoin ETF Token which, by design, ties its value to the progress of a spot Bitcoin ETF approval and future product performance, is set to reap the rewards from the latest turn of events.
Although the SEC civil charges against Binance are still on the table after the US Department of Justice settlement, in which Binance and CZ admitted to anti-money laundering and sanctions-busting crimes, a significant step forward has been made in cleaning up what the SEC alleges is weak market surveillance and an
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