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This Week in Crypto: CZ Pleads Guilty, DOGE Goes to the Moon, and SHIB’s Pivot to AI

Press Releases Crypto News BeInCrypto This Week in Crypto: CZ Pleads Guilty, DOGE Goes to the Moon, and SHIB’s Pivot to AI

Crypto news: This week, the crypto community was rattled by the US authorities’ enforcement action against Binance, the world’s largest exchange. The exchange agreed to pay a $4.3 billion settlement, and its CEO, Changpeng Zhao, agreed to step down as CEO and pay a $50 million fine as part of a plea bargain.

Responses to the enforcement action were varied, with some arguing that CZ impacted the industry positively, while others questioned whether building the biggest exchange was worth breaking money laundering and other laws. The other big news was the reinstatement of Sam Altman as OpenAI CEO amid a possible AI pivot for the Shiba Inu community.

Altman Gets a Second Life

Earlier this week, the board of directors at OpenAI restored Altman to his position. Altman was ousted over the weekend for reasons that, for the most part, remain unclear.

Altman had apparently not shared detailed information about the company’s plans to advance and monetize its AI technology. The board had been concerned about safety amid rapid technological advancements.

Sam Altman Return as OpenAI CEO. Source: YouTube

But within five days, pressure from investors and the introduction of two new board members, saw Altman resume his post. But it remains to be seen whether this means Altman wields too much power in the industry.

Does Future of SHIB Lie in AI?

But enough of the heavy stuff. Everyone’s favorite dog-themed coins made headlines this week for light-hearted reasons.

Shiba Inu’s burn rate surged over 60% after over 80 million tokens were burned on Nov. 19. The move lowers the supply of the coin and is generally a bullish event, but ma

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Author: David Thomas

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