Quantum computing investment from VC firms declined by 50% last year, a new study has found. According to the State of Quantum 2024 report by IQM Quantum Computers, OpenOcean and Lakestar, global VC investment dropped from $2.2bn in 2022 to $1.2bn, with most of the decline coming from US funds. This fall was dwarfed, however, by government spending commitments on quantum computing amounting to $40bn over the next decade.

While venture funding temporarily cooled, our research confirms the steady momentum towards the quantum era, said OpenOceans general partner, Ekaterina Almasque. The findings signal that 2024 can become a year of growing confidence in quantum computings potential, despite still a relative lack of private capital flowing into that space. Significant use cases [are] emerging to unlock its commercial promise.

Quantum computing investment in the US tanked by approximately 80% and 17% in the Asia-Pacific region, according to the report, with small gains of 3% in the EMEA region. Waning VC interest in quantum computing could be explained by several factors, it said, beginning with inflated expectations in the technology dating back to 2022. Interviewees for the report agreed that tempered expectations were called for among investors interested in exploring quantum computing in greater depth, along with an understanding that the practical implications of quantum computing could still be years away.

Generative AI also dragged attention and funding away from quantum startups, with VC firms taking the general position that short- and medium-term returns were more likely in the former sector over the latter. Data cited in the report by investment platform Sampo also suggests quantum computing is failing to attract interest from those funds that traditionally invest in hardware startups.While there is no significant difference in average fund size between hardware and quantum computing investors, wrote Almasque in her forward for the report, there are more than [five] times as many investors in hardware than in quantum. This suggests that the quantum ecosystem, across all layers of the stack, is lacking a diverse pool of potential investors.

Despite this, however, there are signs that the broad-based decline in quantum computing investment among VC firms might be in line with declining investment in deep tech generally, with the latter also declining by 50% year on year. Several developments late in 2023 also suggested a recovery in interest among VC firms in quantum. This included a Series B fundraising round for Oxford Quantum Circuits that raised some $100m. As such, investors and vendors quoted in the report were reluctant to label the decline in quantum computing investment from VC firms as a sign that a new quantum winter has taken hold.

It is a great catchphrase, said Citi Global Insights quantum technologies lead, Tahmid Quddus Islam. Even so, investment is down across the board, so you could say we are in more of a deep tech winter.

Declining quantum computing investment levels from the private sector were also completely dwarfed by spending commitments on quantum initiatives from national governments. According to the report, some $40-$50bn has been allocated by the UK, the US, the EU and 30 other governments. 20 of these, it said, have formulated a formal coordinated policy approach to the promising technology.

The mismatch in interest between the private and public sectors in quantum computing in 2023 should not be considered surprising, argues Michael Orme, a senior analyst at GlobalData. Last year it was clear, Orme told Tech Monitor, that the private market for quantum computing startups was overcapitalized and oversupplied as far as VC firms were concerned, with few short-term prospects for commercializing the technology on the horizon. Governments, meanwhile, have different priorities.

The arrival of fully fledged fault-tolerant quantum computing willbe crucial to national security from data protection to sci-fi weaponry, and to achieving leadership in strategic science-based industries or at least staying in contention, says Orme. As such, he adds, if youre the US, China, Russia, Israel or even the UK, you must create a quantum ecosystem and stay in the vanguard.

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VC quantum computing investment crashed in 2023 - Tech Monitor

A new report claims private investment fell by roughly 80pc in the US, but that quantum technology is still on a positive trajectory thanks to government contracts and commitments.

Private investment into quantum computing start-ups saw a steep decline last year, raising concerns for the future of early-stage companies in this sector.

Thats according to a new report analysing the global quantum sector last year and the outlook for 2024. The State of Quantum report claims venture investments into quantum technology soared to more than $2bn in 2022, but fell by roughly 50pc worldwide in 2023.

This report was developed by IQM Quantum Computers, OpenOcean and Lakestar, in partnership with The Quantum Insider. It claims that quantum technology is moving beyond theory and that start-ups are transitioning from the lab to the market. More quantum research centres have been founded, showing a growing interest by governments into this technology.

The State of Quantum report suggests that the decline in private investment does not mean there is a quantum winter and attributes the drop to a general slowdown in venture capital and the deep-tech market.

Quantum technology remains a niche sector, accounting for less than 1pc of total VC funding, the report said. So, while the quantum technology industry is adjusting after a period of heightened investment, it is not entering stagnation and industry insiders maintain a cautiously optimistic outlook for its future trajectory.

George Gesek, the CTO and co-founder of QMware, said this is nothing like a quantum winter and does not compare to the quantum ice age a decade ago when very few investors would go near quantum technology.

Now we are in an era where investors recognise the opportunities available with quantum and are rushing to back the tech, anxious about missing the arrival of a quantum spring, Gesek said.

Despite the positive outlook of the report, some interviewees have concerns that early-stage quantum start-ups will struggle as they progress to series B funding rounds and beyond.

The report also claims that the decline in private investment is being picked up by government-backed funding commitments and contracts, which are bridging the gap in investor apprehension.

The analysis claims that governments have committed more than $40bn into quantum technology over the past 10 years. Ireland is also taking a greater interest in quantum technology, as it revealed a national strategy last year that aims to harness research across the country to create a competitive advantage over other global players in this field.

As governments adopted an increasingly critical role in quantum technology, so did quantum national labs and research facilities across Europe, North America and beyond, advancing its development from theoretical quantum research to initial practical application, the report said.

In terms of private investment, the report claims that the US saw the biggest decline, with 2023s venture funding being roughly 80pc less than it was in 2022. The report noted that 2022 was a significant year for quantum technology investments in the region.

The Asia-Pacific region saw a decline of roughly 17pc last year, while Europe, the Middle East and Africa was the only region to have a boost in overall private investment, being roughly 3pc higher last year than in 2022.

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Private investment into quantum tech plummeted last year - SiliconRepublic.com

Themes like cryptocurrency and AI have driven the market higher in recent years. Quantum computing could be the next hot theme that takes the market by storm, and investors should consider getting ahead of the trend and looking into it now.The Defiance Quantum ETF (NYSEARCA:QTUM) is an exciting ETF dedicated to this high-tech theme.

Im bullish on QTUM based on the long-term potential of quantum computing, its carefully selected portfolio, and its excellent track record of performance over the past five years. We are still in the early stages of quantum computing, so this could be a high-risk, high-reward investment.

An investment like this is likely best as a smaller allocation for risk-tolerant investors, but as we will discuss below, QTUM does a good job of mitigating some of these risks with a diversified portfolio that benefits from the rise of quantum computing without being solely reliant on it.

Without getting too into the weeds, quantum computing uses quantum mechanics to perform calculations exponentially faster and more efficiently than typical computers.According to QTUMs sponsor, Defiance ETFs, they process information in a radically different manner and therefore have the potential to explore big data in ways that have not been possible until now.

While not all use cases are known at this point in time, quantum computing will likely have a major impact on applications like machine learning and encryption and could impact fields like industry, defense, academia, and beyond. Renowned management consulting firm McKinsey & Company says quantum computing may provide an exponential increase in computational performance for certain problems and transform communication networks by making them more secure.

While the space is in its infancy, its growing fast. CB Insights reports that venture capital investment in the space grew by 500% between 2015 and 2020. Meanwhile, McKinsey named quantum computing one of its top 15 trends in its 2023 McKinsey Technology Trends Outlook and reported that the industry received $2 billion in equity investment in 2022, while job postings for the space grew by 12%.

Story continues

McKinsey also rated quantum computings adoption as a 0 on a scale of 0 to 5, with 0 indicating no adoption. This is an important reminder that practical, scalable quantum computers are still in the early stages of development, so their commercial success isnt necessarily set in stone. However, this score of 0 also indicates that there is a long runway of growth ahead if quantum computing becomes commercially viable.

According to fund sponsor Defiance, QTUM seeks to provide exposure to companies on the forefront of machine learning, quantum computing, cloud computing, and other transformative computing technologies.

It does this by investing in its underlying index, the BlueStar Quantum Computing and Machine Learning Index (BQTUM), an index comprised of leading global companies engaged in the research & development or commercialization of systems and materials used in quantum computing.

These companies include those engaged in advanced traditional computing hardware, high powered computing data connectivity solutions and cooling systems, and companies that specialize in the perception, collection, and management of heterogeneous big data used in machine learning.

The fund launched in 2018 and is still relatively small, with $208.4 million in assets under management (AUM).

QTUM is nicely diversified. It owns 71 stocks, and its top 10 holdings account for just 16.7% of assets, so this isnt an ETF that is overly exposed to a small handful of holdings. This is because the funds underlying index is equal-weighted and rebalanced semi-annually.

Below is an overview of QTUMs top 10 holdings using TipRanks holdings tool.

One appealing aspect of QTUM is that because quantum computing is still in its early phases, the fund doesnt limit itself solely to the few publicly-traded companies that are focused on quantum computing as their core business, such as IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI).

This seems like a prudent approach, as there are only a few of these companies, and they are likely years away from turning a profit. While QTUM invests in these companies, it spreads its risk by also investing in companies that will facilitate the growth of quantum computing and those that will benefit from it.

For example, the fund holds a large number of semiconductor stocks like Advanced Micro Devices (NASDAQ:AMD), Marvell (NASDAQ:MRVL), and Nvidia (NASDAQ:NVDA).

It also owns Taiwan Semiconductor (NYSE:TSM), which fabricates the semiconductors for many of these companies, and stocks like Lam Research (NASDAQ:LRCX) and Applied Materials (NASDAQ:AMAT), which provide the equipment needed to manufacture semiconductors. These stocks can be thought of as the picks and shovels way to gain exposure to quantum computing.

QTUM owns mega-cap tech stocks like Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), and IBM (NYSE:IBM) that are working on developing quantum computing technology but are not reliant upon it for revenue or earnings today.

You may be surprised to find stocks like Honeywell (NASDAQ:HON) in QTUMs holdings since investors often think of it as more of an old school industrial company than a tech stock, but Honeywell has established a strong foothold in quantum computing. In fact, its quantum computing subsidiary, Qauntinuum, recently raised new funding that values it at $5 billion.

This measured approach is a sensible way to invest in this nascent space, and it has led to excellent returns over the years, as youll see below.

QTUMs portfolio has translated into a very strong performance over the years. The fund lost 28.8% of its value in 2022 when the tech sector and more speculative growth stocks took a major haircut. However, it bounced back with a spectacular total return of 39.9% in 2023 when tech stocks staged a major rebound.

This excellent 2023 performance was nothing new for QTUM the fund posted a 35.2% return in 2021, a 42.1% return in 2020, and an incredible 48.0% return in 2019.

As of December 31, the fund generated an annualized 10.5% three-year return and an annualized 25.2% five-year return.

These stellar annualized returns not only easily outperformed the broader market but also slightly outperformed the high-flying Invesco QQQ Trust (NASDAQ:QQQ), which invests in the 100 largest non-financial stocks on the tech-centric Nasdaq (NDX) exchange. As of December 31, QQQ generated an annualized three-year return of 10.0% and an annualized five-year return of 22.4%.

QTUMs expense ratio of 0.40% isnt cheap, but it isnt overly expensive either, especially when considering the funds strong performance.This 0.40% expense ratio means that investors will pay $40 in fees annually on an investment of $10,000. Assuming that the expense ratio remains 0.40% and the fund returns 5% annually, investors will pay $505 in fees over a 10-year time span.

Turning to Wall Street, QTUM earns a Moderate Buy consensus rating based on 44 Buys, 27 Holds, and one Sell rating assigned in the past three months. The average QTUM stock price target of $62.08 implies 11.2% upside potential.

In conclusion, Im bullish on QTUM based on its stellar track record of performance and the long-term potential of quantum computing. I also like that the fund smartly casts a wide net and invests in stocks that will benefit from the rise of quantum computing, those that will help fuel its growth, and some pure-play quantum computing stocks.

Quantum computing is still in its early stages and a long way off from being commercially successful, but QTUM takes the right approach of investing in stocks that will give investors exposure to the upside of quantum computing without betting the entire farm on it.

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QTUM ETF: Quantum Computing Could be Tech's Next Hot Theme - Yahoo Finance

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Binance allows customers to custody trading collateral off exchange as market share recovers - CryptoSlate

TL;DR

Binancelistednine new isolated margin pairs, including BCH/FDUSD, LTC/FDUSD, SUI/FDUSD, FIL/FDUSD, and more. It also introduced three new cross-margin pairs: CVP/USDT, FORTH/USDT, and PROM/USDT.

Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies, the company said.

Listing a cryptocurrency on a major exchange like Binance could increase its visibility and perceived legitimacy, driving up investor demand and positively impacting its value.

However, this is usually the case for when a cryptocurrency is first listed on Binance. In this particular case, those assets were already traded on the exchange, which merely added extended support against different stablecoins. This is perhaps why the listed assets have either shown little-to-no volatility or have slightly retraced in the past 24 hours. The slump coincides with the overall condition of the market, with many leading cryptocurrencies being in the red today (January 31).

Besides adding support to the aforementioned tokens, Binance has alsodecided to remove the following spot trading pairs: BSW/BNB, KAVA/ETH, SCRT/ETH, SNX/BNB, UFT/ETH, and WAN/ETH. The amendments will come into effect on February 2.

The firm did not provide an exact reason for its move, reminding it to conduct periodic reviews of all listed pairs and terminating some due to factors like poor liquidity and trading volume.

Previous similar Binance effortsincludethe delisting of COMBO/BNB, IOST/ETH, CRV/ETH, NEO/ETH, QUICK/TUSD, QKC/ETH, RUNE/EUR, and WOO/BNB.

Prior to that, itaddedFC Barcelona Fan Token (BAR), Manchester City Fan Token (CITY), Paris Saint-Germain Fan Token (PSG), and others as borrowable assets on its Isolated Margin program.

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Two Important Binance Announcements Affecting Many Traders - CryptoPotato

The cryptocurrency world is in a constant state of flux, and two platforms, Binance.com and TapaCoin.com, stand out as leaders in the industry. Let us conduct a detailed comparison of these two exchanges, highlighting their unique characteristics and features.

Binance.com: The Worlds Leader in Crypto Exchanges

Binance.com certainly deserves its status as a leader in the cryptocurrency space. Since its inception, it has become the number one platform in the world thanks to its extensive range of services, high level of security and world-class scale.

TapaCoin.com: An emerging competitor with promise

TapaCoin.com, a unique and promising crypto exchange founded over 10 years ago, shows the potential to become a serious competitor to Binance.com. Lets take a closer look at the key aspects where TapaCoin.com stands out.

TapaCoin.com exhibits impressive speed of transactions, which becomes one of the advantages compared to Binance.com. This is important for traders seeking to minimize order processing time and maximize trading efficiency.

In the field of staking, TapaCoin.com stands out with favorable rates. This makes the platform attractive to those looking to maximize their income from staking various cryptocurrencies.

The TapaCoin.com exchange actively pays attention to security, conducting regular audits and introducing advanced technologies. This builds user trust and ensures reliability in the processing and storage of digital assets.

TapaCoin.com not only provides an opportunity for successful trading, but also pleases its users with regular sweepstakes and bonuses. This creates additional incentives for active participation and attracts new traders.

One of TapaCoin.coms strengths is its large staff, including highly trained technicians and security experts. This guarantees the efficient functioning of the exchange and the protection of user interests.

TapaCoin.com strives to gain global popularity by opening branches in various countries and establishing partnerships with influential figures in the cryptocurrency industry. This not only expands the geography of service, but also helps attract new users.

Users of TapaCoin.com highly rate the platform, noting its reliability, ease of use and quality of services provided. This emphasizes the positive reputation of the exchange in the crypto community.Conclusion: The choice is up to the traderIn conclusion, Binance.com and TapaCoin.com provide unique opportunities for traders. Binance.com is considered an industry leader, while TapaCoin.com is innovating and aiming to become a strong competitor. The choice between them depends on the individual preferences, trading styles and goals of each trader. Both exchanges offer their own unique benefits, and the choice ultimately depends on your preferences and goals in the world of cryptocurrencies.

Disclaimer: The text above is an advertorial article that is not part ofCryptonews.comeditorial content.

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Comparison of Binance.com and TapaCoin.com: When a Leader Meets a Competitor - Cryptonews

Read on to learn why crypto experts are predicting major rallies for Ripple (XRP), Binance Coin (BNB) and NuggetRush (NUGX) and what this means for the future of the cryptocurrency market.

The cryptocurrency market is beginning to recover from the aftermath of the ETF impact on crypto prices. With an improved market sentiment, Matthew Dixon has predicted that Ripple's (XRP) price could increase in the coming weeks.

Meanwhile, Binance Coin (BNB) and NuggetRush (NUGX) have both formed a bullish pattern that could lead to more increases. Read on to learn why crypto experts are predicting major rallies for these top altcoins.

>> Buy NuggetRush Now <<

As the investor sentiment post BTC ETF approval dropped off significantly, Ripple (XRP) was one of the worst affected altcoins. Since the start of 2024, the price of Ripple has plunged by more than 17%.

The Ripple coin dropped to a new yearly low of around $0.50 from a high of $0.645 on January 3. Although the altcoin price is circling around $0.500, Matthew Dixon stated he anticipates XRP to see a recovery in the upcoming weeks.

In the upcoming weeks, the expert anticipates a significant surge for the Ripple coin after it breaks over the $0.5400 resistance. The trend reversal that many others have forecast for XRP will be confirmed by a break over the resistance level of $0.600.

With improved crypto market sentiment, NuggetRush (NUGX) is one of the top DeFi coins that analysts expect to experience a major rally. The crypto community has been attracted to the exciting mining adventure game NuggetRush. In this game, players will compete against miners and mining firms as it was during the gold rush.

NuggetRush will link players to artisanal miners to help improve their mining operations. NuggetRush is now one of the best cryptocurrency investments since players may earn rewards in a variety of ways.

Players may earn rewards as they engage in competition as they search for gold. There are various challenges in the game. These include constructing tunnels and mining shafts, identifying mineral resources, and using the proper excavation equipment.

NuggetRush's marketplace allows users to sell in-game treasures and resources for NUGX, real cash, or gold. NUGX is the utility token of the ecosystem and looks poised for a major rally as its platform grows. Now priced at just $0.018 per coin, NUGX is considered very cheap, given its 50x forecasts from experts.

>> Buy NuggetRush Now <<

For most of 2024, the price of Binance Coin (BNB) has been on a downtrend as the crypto market battled bearish sentiment. BNB dropped to a yearly low of $287 after losing more than 15%. Nonetheless, the development of a bull flag pattern may signal the beginning of a trend reversal.

The bullish pattern is active, and BNB has already risen beyond $310. BNB may rise above the $350 barrier level in the upcoming days if the pattern persists. There are indications that the protest might go on. First, more and more dApps are being used on the BNB blockchain network.

It is evident that bullish momentum is now developing in the crypto market. As some of the top crypto coins, Binance Coin and XRP are expected to rise, but NuggetRush is the expert option with the greatest potential for the upcoming weeks. With a fascinating ecosystem set to debut soon, NUGX may be up for a parabolic rise in 2024.

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Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $275. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Crypto Experts Expect Higher Prices for Ripple (XRP): Binance Coin (BNB) and NuggetRush (NUGX) Set for Major ... - BSC NEWS

Godfrey Benjamin

Binance set to list Solana-based Jupiter (JUP), sending price up 158%

Jupiter (JUP) is on a mega-bullish rampage today as it is riding the positive sentiment surrounding its potential listing on the Binance exchange. At the time of writing, the token is up by 158% in the past 24 hours to $0.02054,per data from CoinMarketCap. For a relatively new token, Jupiter has printed 336% growth in its trading volume, which comes in at $5,421,130.

Jupiter is a decentralized exchange aggregator based on the Solana blockchain. The protocol has been making waves in recent times, underscoring the massive interest generated ahead of the listing on Binance slated for Jan. 31 by 12:30 p.m. UTC. The trading behemoth said it will list new JUP-based spot trading pairs, including JUP/USDT, JUP/FDUSD and JUP/TRY.

The digital currency entered the trading market with a total circulating supply of 1.35 billion JUP, with a billion earmarked for airdrops. The remaining tokens were earmarked for team support, liquidity provision and other related operational boosts.

Jupiter comes at a time when the Solana blockchain isat its peak after years of trading as an underdog, when it fell from its ATH score of $260.06. The massive upshoot in Jupiter aligns with this sentiment with a major price discovery.

Binance plays a crucial role in the crypto ecosystem with thelisting of tokens. With millions of monthly active users, Jupiter is bound to gain massive exposure to the largest traders in the industry, and the upside might shift the overall volume of the asset in no time.

Over the past few months, Binance has made a series of token listings to shore up its overall supported asset base. As an exchange with intense regulatory scrutiny, it alsodelists assets on a regular basis for poor performance.

About the author

Godfrey Benjamin

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news,Cryptonewsand Coingape, among others.

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Binance Listing Sentiment Sends This Solana Token up 158% - U.Today

In a significant move announced this Tuesday, Binance, a major player in the crypto world, is taking a step back from its involvement in Gopax, a South Korean-based company. This decision, following Binances acquisition of a majority stake in Gopax in February 2023, has sparked questions within the industry.

Binance, recognized as one of the largest global crypto exchange platforms, is changing course by opting to reduce its stake in Gopax. This decision aims to address concerns related to reporting requirements associated with Virtual Asset Business Operations [VASPs].

Steve Young Kim, Binances Asia-Pacific director, provided insight, stating that Gopaxs significant debt would be resolved through an equity-to-equity conversion.

We expect that we will be able to provide more specific data on the sale of the shares in some form within a month or two.

Counting Down to Disclosure

Binance has committed to revealing further details on its stake reduction with Gopax in the next two months. The crypto platform is strategizing to convert the debt, paid as GoFi repayment, into equity, thereby selling a portion of its stake to find a practical resolution to the ongoing issue.

Also Read: Binance vs SEC: Join Status Report Reveals Discovery Disputes

Following its exit in January 2021, Binance has been eager to re-enter the South Korean market. Recognizing South Korea as a pivotal hub for crypto exchange platforms, with substantial economic scalability and a thriving talent and startup community, Binance considers these factors as the driving force behind its venture into the region.

Did You Know? Bitcoin ETFs Coming to South Korea? Republic Officials Push for Reconsideration

Despite being on the cusp of finalizing the acquisition deal, Binance faced hurdles in the form of a lawsuit from the U.S. Securities and Exchange Commission (SEC). While Binances previous exits managed to find resolution, the current SEC lawsuit remains an unresolved challenge, creating uncertainty in the market.

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Binance Prepares for Stake Reduction in Gopax; Heres Why - Coinpedia Fintech News

Troubled cryptocurrency exchange Binance.US continues to face pressure from regulators in the United States in the aftermath of the former Binance CEO Changpeng Zhaos guilty plea.

Regulators in Florida and Alaska have told Binance.US that the crypto exchange can no longer serve its residents, The Wall Street Journal reported on Jan. 25.

The Alaska Division of Banking and Securities reportedly denied a renewal of Binance.USs license in January 2024. Cointelegraph approached the agency for a comment regarding the denial but did not receive a response at the time of publication.

Floridas Office of Financial Regulation has also issued an emergency suspension order against Binance.USs money transmitter license. The suspension reportedly came a week after Binances founder and former CEOZhao, also known as CZ, pleaded guilty to charges of violating U.S Anti-Money Laundering policies on Nov. 21, 2023.

In December 2023, a U.S. federal court subsequently accepted Zhaos guilty plea to one count of Bank Secrecy Act violations. As part of the settlement deal, Zhao stepped down as Binance.US chair and transferred his voting rights through a proxy agreement, removing his influence on the firms governance.

Despite the U.S. governments action against the global Binance exchange, its local business, Binance.US, continued to operate in the country. We remain fully operational and are committed to continuing to serve our customers with the same products and services as we always have, the U.S. exchange wrote on Nov. 28.

Related: Binance and SEC lawyers present arguments on crypto as a security: Report

In late December, regulators in Arkansas, Illinois and South Dakota reportedly reached an agreement with Binance.US that would allow it to keep operating in those states. As part of that, Binance.US must make the transfer of Zhaos voting rights irreversible.

After pleading guilty, Zhao has attempted to pledge his $4.5 billion stake in Binance.US as security to be permitted to travel to his home in the United Arab Emirates. According to the court records, Judge Richard Jones denied his request in a private hearing on Dec. 29.

Zhao is set to be sentenced on Feb. 23, 2024 and faces up to 18 months in prison.

Magazine: Coinbase fights SEC in court, SBFs parents seek lawsuit dismissal, and Bitcoin ETFs: Hodlers Digest, Jan. 14-20

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Binance.US gets the cold shoulder in Alaska and Florida - Cointelegraph