DeFi to Outshine CeFi in 6 Years: Binance CEO Foresees Bright Future

• BlockFi CEO neglected warnings about FTX prior to collapse, court docs say
• Binance has quietly laid off 1,000 or more employees in recent weeks; may slash workforce by up to 30%: WSJ
• Binance CEO foresees DeFi outgrowing CeFi in 6 years, despite regulatory hurdles

BlockFi CEO Neglected Warnings about FTX Prior to Collapse

Court documents revealed that the chief executive of BlockFi had ignored warnings about the FTX exchange before its collapse. The exchange had been accused of fraud and was shut down by regulators.

Binance Lays Off Thousands of Employees

Binance has quietly laid off 1,000 or more employees in recent weeks and is expected to reduce its workforce by up to 30%. This news comes shortly after a self-proclaimed „stakeholder“ called Eeon sought to intervene in the SEC’s lawsuit against the exchange.

Alex Mashinsky Out on $40M Bail

Alex Mashinsky, who was arrested on charges of fraud, was released on a $40 million bail. He has denied all charges against him and maintains his innocence.

Larry Fink Unpacks BlackRock’s Approach to Crypto

BlackRock’s Larry Fink recently commented on his company’s approach towards cryptocurrency, noting that it can „transcend any one currency“. He also added that it would be beneficial for investors as they will be able to access different digital assets without facing too much risk.

Binance CEO Foresees DeFi Outgrowing CeFI in 6 Years

Changpeng Zhao, the CEO of Binance predicted that decentralized finance (DeFi) will become more prominent than centralized finance (CeFI) within six years. Despite potential regulatory hurdles, he believes that DeFI activities will continue accelerating as more people use DeFi products and interact directly with blockchain networks.