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Binance CEO Sees A Troubling Day For Cryptos As Biden Proposes Taxation Scheme — Bone ShibaSwap Offers Solution

Published 10/03/2023, 13:07
Updated 10/03/2023, 14:11
© Reuters.  Binance CEO Sees A Troubling Day For Cryptos As Biden Proposes Taxation Scheme — Bone ShibaSwap Offers Solution
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Benzinga - Binance CEO Changpeng Zhao, popularly known as "CZ," took to Twitter on Thursday to share that after a mere four hours of sleep, he awoke to some troubling events affecting the cryptocurrency world.

What Happened: CZ said a "Silicon Valley Bank" is having issues, the New York Attorney General is suing KuCoin, the White House is considering a 30% tax on mining electricity, and the Huobi token had a flash crash, causing other crypto prices to dip a bit.

But, he said, “Bitcoin (CRYPTO: BTC) [is] still producing blocks.”

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

Shiba Inu (CRYPTO: SHIB) ecosystem token BoneShibaSwap (CRYPTO: BONE) handle responded to CZ's comment, saying that Shibarium, the highly anticipated beta layer 2 scaling solution, will solve all the current problems.

The Shibarium beta network launches this week and BONE will be the official gas token used to facilitate transactions.

Price Action: At the time of writing, BONE was trading at $1.53, down 11.40% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin Slumps To $20K, Ethereum, Dogecoin Shiver On Biden's New Crypto Tax Scheme: Analyst Sees 'Euphoric' Bears At This Level

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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