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Today in crypto, the former CEO of Binance, Changpeng “CZ” Zhao, has urged the crypto community to shift its focus away from memecoins and into building “real” blockchain applications, memecoin launchpad Pump.fun has halted its livestream functionality after a number of recent broadcasts stirred criticism and concern, and the United States Attorney behind the Sam Bankman-Fried criminal case has resigned from his post.
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Changpeng Zhao advocates for “real” blockchain apps over memecoins
On Nov. 26, Zhao shared his growing distaste for the memecoin ecosystem. In an X post, he said that the memecoins are getting “a little” weird as opposed to being funny during its nascent stages.
While most of Zhao’s followers supported his request to refocus on building real decentralized applications (DApps) instead of trying to cash out on the hype, some accused his former crypto exchange, Binance, of listing memecoins with no obvious utility.
Binance’s crypto derivatives exchange, Binance Futures, continues to list memecoin trading pairs catering to public demand. However, the market price of Why (WHY) and Cheems (CHEEMS) — two new memecoins listed on the platform on Nov. 25 — tanked within a day of listing.
Pump.fun pulls plug on livestreams after going “out of control”
Memecoin launchpad Pump.fun says it has halted its live streaming functionality “for an indefinite time period” after a slew of controversial livestreams over the past week.
“We acknowledge that recent events on our platform’s live streams have caused concern,” the platform said in a community notice to users on Nov. 25.
From the outset, we’ve taken a firm stance on moderating for inappropriate activity. This includes proactively removing coin images, names, descriptions, comments, tagging any NSFW content, taking down live streams, and more recently, taking down videos,” it added.
It comes after a significant backlash over a growing number of concerning broadcasts, ranging from suicide threats and animal abuse to pornography.
US Attorney behind SBF case to resign
Damian Williams, the Attorney for the Southern District of New York, will relinquish his post before President-elect Donald Trump nominates a replacement early next year.
According to a Nov. 25 notice from the US Department of Justice, Williams said he intends to step down on Dec. 13. Trump is scheduled to nominate a replacement the following month. In the meantime, Deputy US Attorney Edward Y. Kim will serve as the acting head for the Southern District of New York.
Williams is perhaps best known for serving as the leading Justice Department official in several high-profile cases against crypto executives, including former FTX CEO Sam Bankman-Fried. https://www.youtube.com/embed/_vWUlHcMK1E
, Bankman-Fried was convicted on seven felony charges and sentenced to 25 years in prison for his role in the exchange’s collapse.
To read article in Arabic, please visit the website Crypto Mena
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