[IanGPT] Binance US CEO Departs Amidst Cuts of a Third of its Staff - BBG

- Binance.US CEO Brian Shroder exits; replaced by Chief Legal Officer Norman Reed.
- Company to cut one-third of its workforce amid regulatory pressures.
- SEC previously accused Binance.US and parent company of mishandling funds and misleading investors; allegations denied.
- Company also facing scrutiny from the CFTC and Justice Department.
- Banking partnerships severed, affecting dollar deposits and withdrawals.
- Market share drops to 0.6% from 2.39% in April; trading volume declines.
- Spokesperson says actions give the company seven years of financial runway, criticizes SEC's "aggressive attempts."
- Binance Holdings also losing key executives in recent months.

Curve OTC Counterparty "erwwer" has moved ~600K of their initial 2.5M CRV to a fresh address.

This address has sent 54K CRV to Binance so far.

Update: he sent it back 😂

U.S. CPI: +3.7% YEAR-OVER-YEAR (EST. +3.6%)
U.S. CORE CPI: +4.3% YEAR-OVER-YEAR (EST. +4.3%)

FTX RECEIVES COURT APPROVAL TO LIQUDATE CRYPTO ASSETS: JUDGE

- Liquidators are only allowed to sell up to $100m in assets a week, up to $200m (requires approval).

- Assets can be sold via open market or OTC

Source

Lido Launches on Cosmos via Neutron

https://x.com/neutron_org/status/1702006206888349951

Friend Tech User Retention

d0 cohort (users onboarded on day 0) retention rate has been growing and has reached 36% over the last two days. what does this mean?

- previously churned users are returning, indicating that the app has significant stickiness
- even more impressive given that "active users" here is defined as "users making at least 1 trade"
- given that a16z's benchmark for the top performing web2 social apps around the 30d mark is 30%, FT is doing pretty damn good

Full Thread

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Friend Tech Invite Codes

ft-o20klghp
ft-2qtrs5yo
ft-elo24ts6
ft-sssttalw
ft-x2fjeh0p

A wallet connected to Mark Cuban appears to have been drained.

https://x.com/wazzcrypto/status/1702820716343624168

Confirmed: Mark Cuban was hacked for $870k, moving rest of crypto assets to Coinbase Custody

https://www.dlnews.com/articles/people-culture/mark-cuban-loses-870k-to-a-crypto-scam/