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Binance Founder Changpeng Zhao Steps Down as CEO and Pleads Guilty in $4 Billion Settlement
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Trader Joe Integrates With LayerZero to Launch Omnichain JOE Token
February 7, 2023
MINS
Trader Joe and LayerZero have partnered to make $JOE an 'omnichain fungible token' that can be bridged seamlessly across Avalanche, Arbitrum and BNB Chain.
Trader Joe on a Multichain Quest
Trader Joe announced an integration with LayerZero Labs to launch $JOE as an Omnichain Fungible Token (OFT) that can be bridged across multiple blockchains without the need for “wrapping.”
Trader Joe 🤝 LayerZero$JOE will be launched as an omnichain fungible token (OFT). This evolution of $JOE will unlock seamless connectivity for the $JOE token across all chains supported by the Trader Joe DEX.
— Trader Joe🔺💙 | Live on Arbitrum 🌊📘 (@traderjoe_xyz) February 6, 2023
Read more: https://t.co/ZVL1szBPLe pic.twitter.com/VzT1YWad6v
The top-ranked Decentralized Exchange (DEX) on Avalanche recently branched out to Arbitrum and is set to expand to BNB Chain by the end of March. As an OFT, $JOE can be moved seamlessly at a 1:1 ratio across all the chains where the Trader Joe DEX operates.
“The LayerZero integration is expected to be completed today and on completion, JOE will be bridgeable to Arbitrum and also BNB,” according to a Feb. 6 announcement from Trader Joe on SubStack. So, prepare your JOE tokens for intergalactic blockchain travel, a further announcement will shortly be shared once bridging is live.
Since the announcement of Trader Joe’s expansion to BNB Chain at the beginning of the year, the value of $JOE has increased by about 100%, from $0.1341 to $0.2718, according to CoinMarketCap.
What is Trader Joe:
Trader Joe is the most popular trading platform on Avalanche. It focuses on DeFi, with trading and lending being key areas for the company. The ultimate goal of Trader Joe is to become a ‘one-stop shop’ for DeFi.
Where to find Trader Joe:
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Binance VIP Traders Informed of $4B Settlement Back in September
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December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $1500. 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.
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 $1500. 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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $2500. 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.
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 $2500. 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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