Former Binance CEO CZ Teases New Project, SHIB Team Member Shares Update on SHIB Metaverse, Solana Flips Binance Coin: Crypto News Digest by U.Today

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Written By Maya Cantina

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Here are the three top new stories presented to you by U.Today.

Former Binance CEO CZ teasing new project

In a recent X post, Changpeng Zhao (widely known as CZ), former CEO of Binance exchange, announced the launch of a new project. From the bits of information shared in the post, CZ’s followers learned that the project will not be related to any token launch but will serve educational purposes. Finishing his post, Zhao promised to keep the community updated and provide more details on the project “soon.” As previously reported by U.Today, following the conclusion of a money laundering probe that started back in 2018, CZ left his position as CEO of Binance and paid a $50 million fine as part of the settlement with the U.S. Justice Department. In addition, the exchange agreed to pay $4 billion in fines and restitutions. Currently, CZ is in the U.S. awaiting sentencing for violating money laundering laws; the former Binance CEO could be facing up to 18 years behind bars. Per a notice from Seattle federal court, the sentencing is set to take place on April 30.

Shiba Inu team member shares big update on SHIB Metaverse

Lucie, marketing specialist at the Shiba Inu project, has recently taken to X platform to share a curious update regarding the SHIB Metaverse. Along with a post, Lucie shared a short video, which allegedly offers a small glimpse into what the SHIB Metaverse will look like. The SHIB team member expressed her anticipation for the next sneak peek into the metaverse, hinting at huge plans, of which the upcoming token TREAT will play a significant role. “Can’t wait for the next sneak peek. ShibTheMetaverse has huge plans, and treats for Shib are a big part of it,” reads Lucie’s X post. As a reminder, the future Shiba Inu ecosystem token, TREAT, is being created for multiple purposes, one of which is providing rewards for SHIB: The Metaverse. TREAT is also expected to provide liquidity to the SHI stablecoin, eventually replacing the BONE token as the reward token for ShibaSwap.

Solana (SOL) flips Binance Coin (BNB)

Yesterday, March 18, Solana managed to surpass Binance Coin in terms of market capitalization, becoming the fourth largest cryptocurrency on CoinMarketCap. At the moment of reaching this milestone, Solana’s market capitalization stood at $89.3 billion, while BNB’s was $85.6 billion. The development coincided with the upsurge in SOL’s price; the crypto was trading at $201, up 35.14% over the past week. One of the factors that caused Solana’s price growth was the recent accumulation of the crypto by large investors, also known as “whales.” However, both cryptos’ prices saw a decrease over the past 24 hours, and so did their market valuations – SOL is currently changing hands at $177, down 11.76%, and BNB at $514, down 6.22%. Despite this, Solana still has the upper hand over Binance Coin, with its market cap being $78.6 billion, while BNB’s comprises $76.9 billion.

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