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By now, unless you’ve been living under a rock, you’ve probably heard all about former Binance CEO Changpeng Zhao’s resignation and plea deal with the US DOJ, agreeing to pay a personal fine of $50 million, as Binance was hit with a far more hefty, though non-lethal, $4.3 billion fine. Zhao agreed to potential prison time of a maximum of 18 months (more likely to be some form of probation) and was released on a $175 million bond, awaiting his trial in the US in February.
The crypto market and most of its pundits have pretty much unanimously decided that this is all good news, as it provides closure to Binance’s ongoing troubles with the SEC. Many have described the CZ’s deal as “bullish” for $BTC and presales like Galaxy Fox ($GFOX), which recently soared past the $400K mark, making it the top crypto to buy now.
Market experts suggested that the potential black swan event of Binance being shut down has now been averted. In other words, the skies have been cleared for the bull run take-off, and there’s nothing left standing in the way. Even the $BNB token price barely saw any impact, still retaining its number 4 Market Cap position and only the tiniest of downside corrections.
So all’s well that ends well, right? Except that…maybe not. There are still some very scary loose ends left hanging in this saga, and that potential black swan event that could drag $BTC sub-$30K is still very much alive and lurking in the closet.
Tether ($USDT) the Next Domino to Fall?
Last year, CZ wrote this cryptic Tweet: “When the Titanic sinks, little floats near it get dragged down, too. But the floats will eventually come back up, if they are untethered.” His warning to Tether holders couldn’t be more clear. Tether is by far the biggest stable coin, with an enormous $89.2 billion market cap, compared to USDC’s $24.5 billion, making it the top crypto to buy now for stablecoin holders – but the question is, will it be so for much longer?
The fact that Binance, CZ and the Binance stablecoin $BUSD were all taken out with sniper-like precision, causing barely any disturbance in the market, is not a coincidence. Rather, it was highly-coordinated and managed by very powerful interests, such as BlackRock, which wanted to avoid the chaos that shuttering Binance would cause to the crypto markets. Yet BlackRock has a vested interest in seeing Tether disappear. Why? Because it’s a major shareholder in Circle, the company that owns (drumroll please…) $USDC. The SEC, which has had its sights set on Tether for years, would also see the death of Tether as one more step towards taming the crypto industry. BlackRock (via Circle), conveniently, would get rid of its biggest stablecoin competitor. But wait… it gets better.
With so many trading pairs tied to $USDT, the collapse of Tether would be just the black swan moment that no one seems to believe can happen. It would also provide the perfect “buy the dip” opportunity for institutional investors like BlackRock who are very seldom on the losing side in betting against retail investors – and just in time for the real bull market to kick off.
If that’s not enough to scare you, consider the fact that the judge in CZ’s court case still has the power to fine both CZ and Binance significantly more money, and give CZ up to ten years in jail. So in any case, this story is far from over, and black swans are unfortunately much more common than you think – even in bull markets.
Silver Linings – Hot New Memecoin $GFOX Presale Roars Past $400K
On a positive note, the up-and-coming P2E/memecoin Galaxy Fox’s presale recently flew past the $400K mark and is currently in Stage 2, with the token already increasing in value to $0.0008. This increase is built into the presale program, and will only keep going up until the retail market launch on major exchanges, when prices are expected to soar – especially as the project makes its debut right in the middle of the biggest crypto bull market in history. Demand for memecoins with high utility and solid tokenomics will be at an all-time high, sending the value of the $GFOX token through the roof as it takes on the likes of $DOGE and $SHIB by offering superior tokenomics, rewards and utility – making it easily the top crypto to buy now.
What’s unique about Galaxy Fox is how it combines fun memecoin culture with playing games for serious rewards. Gamers aren’t just playing for kicks. They’re earning $GFOX – Galaxy Fox’s native coin – while battling it out in the project’s Web3 runner game. This has struck a chord, especially with the younger crowd that finds both gaming and crypto appealing, especially memecoins.
Be sure to catch this booming token while it’s still in Stage 2, before the next scheduled price increase, which is coming very soon. And check them out on Telegram to get involved with the $GFOX community. This is one hot ICO you don’t want to miss!
Learn more about $GFOX here:
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