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Binance Founder Meets Kazakhstan President Highlights Crypto Moves
Crypto Trends

Binance Founder Meets Kazakhstan President, Highlights Crypto Moves

by admin October 3, 2025



Binance founder Changpeng Zhao (CZ) met with Kazakhstan President Kassym-Jomart Tokayev this week, highlighting recent developments in the country’s digital asset policy.

In a post, CZ pointed to three areas: Binance’s local regulatory license, the rollout of the KZTx stablecoin, and the addition of BNB to Kazakhstan’s reserve holdings.These moves reflect broader steps the country has taken to formalize its digital asset framework, which will be examined in more detail below.

New photo, from today. Honored to meet with President Kassym-Jomart Tokayev again 3 year laters. Lots of progress in Astana, Kazakhstan🇰🇿

Binance Licensed
Stablecoin KZTx stablecoin
Crypto Reserve includes #BNB
And much more…

Great city name, too.😆 https://t.co/SdlFqtF8ZK pic.twitter.com/sHHVo7k9XW

— CZ 🔶 BNB (@cz_binance) October 2, 2025

Binance license formalizes operations in Kazakhstan

Binance received regulatory approval to operate locally earlier, allowing it to provide crypto services under Kazakhstan’s digital asset framework.

The license followed the government’s idea to set up rules aimed at attracting global exchanges while maintaining oversight. Meanwhile, the country was a pioneer to launch Central Asia’s First Bitcoin ETF.

KZTx stablecoin launch links to payments and reserves

The KZTx stablecoin was launched as part of Kazakhstan’s broader initiative to integrate digital assets into its financial system. 

Authorities had already taken steps in this direction by authorizing USD-backed stablecoins for paying certain regulatory fees, a measure aimed at testing the practical use of digital currencies in state processes

The Alem Crypto Fund, Kazakhstan’s state-backed vehicle for managing digital asset reserves, which recently announced the purchase of BNB for long-term holding. 

CZ’s remarks after meeting President Tokayev highlighted steps already underway in Kazakhstan’s digital asset strategy: the licensing of Binance, the launch of the KZTx stablecoin, and the addition of BNB to state reserves. 

These developments illustrate how the country is beginning to implement previously announced policies about the digital asset world, with further outcomes depending on how regulatory and market structures evolve.

Also read: Kazakhstan’s RAKS Exchange Dismantled Over Money Laundering





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October 3, 2025 0 comments
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Incoming FDIC chairman Travis Hill
NFT Gaming

Top Democrat Escalates Probe Into Pantera Founder Morehead’s Taxes

by admin October 2, 2025



U.S. Senator Ron Wyden, the top Democrat on the Senate Finance Committee, is continuing his inquiry into whether Dan Morehead, the founder of asset manager Pantera Capital, sought to avoid paying taxes through his move to Puerto Rico.

Wyden’s probe into whether Morehead committed tax evasion began in January, and is focused on how the Pantera founder reported taxes on his share of proceeds after a large crypto sale by the firm. According to a press release, Wyden is specifically looking at whether Morehead “misrepresent[ed] his residency status” when Pantera generated over $1 billion in capital gains from crypto sales by claiming his profits from the sale came while he was in Puerto Rico. Residents of the U.S. territory do not pay income tax on capital gains.

“It is my understanding your share of these gains … was hundreds of millions of dollars,” Wyden said in the letter, sent on Wednesday. “It is also my understanding that you treated the entire [gain] as exempt from U.S. tax, even though the lion’s share of these gains accrued while you still resided in California. These are serious allegations of potential abuse of Puerto Rico tax incentives to avoid the payment of U.S. taxes that you must immediately address.”

Wyden’s letter alleged that Morehead’s attorneys “have all but disappeared” despite initially engaging with his staff. He also said in the letter that he believes Morehead was advised by Jeffrey Rubinger, a Miami-based attorney who advised another client who “recently pled guilty to a tax fraud scheme” tied to the same Puerto Rico tax rules.

A Pantera spokesperson referred CoinDesk to a previous statement from Morehead, when he told the New York Times in a statement earlier this year that, “I believe I acted appropriately with respect to my taxes.”

Wyden’s probe does not carry the full weight of an investigation by the Senate Finance Committee at the moment, given Democrats are the minority party in the Senate and committee Chair Mike Crapo — the top Republican on the committee — does not appear to have joined in the inquiry at this time.

Wyden’s letter came the same day the Senate Finance Committee held a hearing on crypto tax issues specifically. Witnesses at the hearing warned that the IRS may soon face a deluge of tax reporting.

Read more: U.S. Senate Hearing on Crypto Taxes Reveals Headaches for Both Industry and IRS



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October 2, 2025 0 comments
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Cardano news
NFT Gaming

Cardano Founder Confirms Google Collaboration On Midnight

by admin October 1, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cardano founder Charles Hoskinson has confirmed a new collaboration between Midnight—Cardano’s privacy-focused partner chain—and Google Cloud, framing it as a strategic step to harden the network’s infrastructure and accelerate developer adoption. “Proud to be working with Google on Midnight. They are a wonderful company and add a ton of value to our ecosystem,” the Cardano founder wrote on X, amplifying Midnight’s announcement and a same-day blog post from the project.

Google Is Now Part Of Cardano’s Midnight

In a September 30, 2025 post, Midnight said the Midnight Foundation has launched a “strategic collaboration” with Google Cloud “for enterprise-grade security and infrastructure and to expand community tools and resources,” positioning zero-knowledge technology as “essential infrastructure for next-generation digital systems.” The announcement situates Midnight’s core thesis—selective disclosure and privacy-preserving computation—inside a compliance-aware architecture aimed at institutions handling sensitive data.

The scope of work is unusually concrete for a cloud–blockchain tie-up. According to Midnight, Google Cloud will “operate critical network infrastructure, including running a validator for Midnight,” and will bring its Mandiant division’s threat monitoring and incident-response capabilities to the network.

Midnight also says it will leverage Google Cloud’s Confidential Computing to remove operators from the trust boundary and harden against provider-level access, signaling an attempt to bind zero-knowledge proofs with hardware-enforced isolation. “The future of enterprise applications requires both transparency and privacy,” said Richard Widmann, Head of Web3 Strategy and Operations at Google Cloud. “By providing scalable infrastructure, we’re enabling developers to experiment with innovative zero knowledge frameworks to verify transactions without exposing sensitive data.”

Midnight framed the collaboration as an accelerant for real-world use cases that have historically struggled on transparent public chains. Fahmi Syed, President of the Midnight Foundation, argued that “Midnight transforms privacy from a technical barrier into a competitive advantage, enabling confidential financial systems, verifiable digital identity, and secure applications that can operate at scale with regulatory compliance built in.”

The blog post points to selective-disclosure patterns for financial institutions (private trading and compliant cross-border payments), credential issuance for governments, and privacy-preserving data-sharing in healthcare as early targets.

On the developer front, Midnight said projects building on the network can apply to the Google for Startups Web3 Program, with “up to $200,000 in Google Cloud Platform Credits over two years,” plus training and mentorship—an increasingly standard incentive package in cloud-supported web3 ecosystems but notable for a privacy-centric L1. Midnight’s own post and social messages also emphasize that the Google Cloud collaboration includes support for community tooling and expanded resources, indicating a bid to spur third-party app growth around Midnight’s zero-knowledge stack.

Hoskinson’s endorsement underscores the partner-chain strategy that Cardano entities have advanced this year, with Midnight frequently described as the lead privacy chain in that model. While the announcement stops short of financial terms or service-level guarantees, it commits Google Cloud to an operational role on the network—validator operations and security services—beyond marketing or co-branding, and provides direct quotes from both organizations that anchor the collaboration in concrete infrastructure and security deliverables.

At press time, Cardano (ADA) traded at $0.80.

Cardano needs to break the black trendline, 1-day chart | Source: ADAUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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October 1, 2025 0 comments
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Screenshot of BNB Chain's X account.
GameFi Guides

BNB Chain X Account ‘May Have Been Compromised,’ Says Binance Founder

by admin October 1, 2025



In brief

  • BNB Chain’s X account may be compromised with users urged not click on any links.
  • CZ made the public announcement via his own X account on Wednesday.
  • Phishing remains a prominent attack vector in the crypto industry.

The official X account for BNB Chain has been compromised, prompting an urgent alert from Binance co-founder Changpeng “CZ” Zhao. 

“Please do not click on any links recently posted from this account,” Zhao wrote on Wednesday. “The teams are investigating and will share updates as soon as possible.”



Decrypt confirmed the breach after the account posted a fraudulent link luring users with a fake rewards program.

Screenshot of BNB Chain’s X account.

The unauthorized post invites users to vote on an “upcoming $BSC rewards date,” falsely promising early $BSC rewards to those who participated within the first 24 hours. 

Phishing attempts often deploy similar tactics designed to steal users’ digital assets and other information.

The fraudulent link appeared shortly after Zhao said the account belonging to BNB Chain “may have been compromised.”

Binance did not immediately respond to Decrypt’s request for comments.

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October 1, 2025 0 comments
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Telegram Founder Alleges French Role in Moldova Vote Censorship
Crypto Trends

Telegram Founder Alleges French Role in Moldova Vote Censorship

by admin September 29, 2025



In brief

  • Telegram founder Pavel Durov said French intelligence sought the removal of opposition channels ahead of Moldova’s 2024 election.
  • His allegations come as Moldova’s pro-European party leads in a new parliamentary vote marked by claims of Russian interference.
  • The dispute underscores rising state pressure on digital privacy platforms, from messaging apps to crypto networks.

Telegram founder Pavel Durov has accused French intelligence of previously exploiting his legal troubles to censor opposition voices in Moldova’s presidential elections last year, pointing to a broader action by governments on digital privacy.

In a Sunday statement posted to Telegram and X, Durov said French intelligence had contacted him through an intermediary while he was being detailed in Paris roughly a year ago, requesting that he remove specific Telegram channels ahead of Moldova’s presidential elections in 2024.

Durov said that after Telegram removed channels violating its rules, an intermediary informed him that French intelligence would favorably address the judge overseeing his August arrest if he cooperated.

His allegations come as Moldova’s pro-European Party of Action and Solidarity, backed by President Maia Sandu, holds a commanding lead amid a fresh election that will decide the future of the country’s parliament, with over 50% of votes counted as of Sunday. 

Both elections have been marked by claims of Russian meddling, with Sandu warning Sunday that Russia had “massively interfered” in its democratic process, according to an Al Jazeera report.

Pro-Russian opposition leader Igor Dodon, meanwhile, has called for protests outside parliament, with reported plans to annul the vote.



In his post on Sunday, Durov further alleged that authorities later provided a second list of channels last year that were not “legitimate and fully compliant with our rules,” whose only commonality was voicing “political positions disliked by the French and Moldovan governments.”

“We refused to act on this request,” he said. “Telegram is committed to freedom of speech and will not remove content for political reasons.”

He claimed authorities were exploiting his legal situation to influence political developments in Eastern Europe, a pattern he said was also “observed in Romania.”

Even Alex Chandra, partner at IGNOS Law Alliance, told Decrypt that platforms must clearly separate violations of their own standards from politically sensitive but compliant content. 

“Rule-based governance is non-negotiable,” Chandra said. “Platforms that clearly separate violations of their own standards from politically sensitive but compliant content can preserve credibility in front of regulators, investors, and users.”

“Legal exposure is becoming leverage,” he added. “As seen in the Telegram case, state actors may use executives’ judicial vulnerabilities to extract concessions.”

The fight for privacy

Durov’s allegations resonate with ongoing battles in crypto, where governments are clamping down on privacy tools. 

Recent convictions of Tornado Cash developer Roman Storm for operating an unlicensed money transmitter and guilty pleas from the founders of Samourai Wallet point to a pattern of pressure on privacy-focused platforms.

“Both communications platforms and crypto networks face parallel tactics of state interference,” Chandra said. “Multinational firms should anticipate that once a regulatory playbook proves effective in one vertical, it may be replicated across others.”

Mohith Agadi, founder of Fact Protocol, told Decrypt the situation reflects “a broader tension between state interests and digital freedoms.”

“The challenge arises when these two priorities collide, particularly in politically sensitive moments,” Agadi said. “What’s needed is greater transparency, clear standards, and independent oversight mechanisms.”

The French Ministry for Europe and Foreign Affairs responded to Durov’s claims, retweeting a post saying the Telegram founder “likes making accusations while elections are ongoing.”

Durov remains under judicial supervision in France following his arrest and is required to report to authorities every 14 days with “no appeal date in sight.” 

The Open Network’s Toncoin, closely associated with Telegram, tanked in the immediate aftermath of his detention. The token now trades at $2.71, down 67% from its all-time high of $8.25, as per CoinGecko.

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September 29, 2025 0 comments
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8,000% in Week: Binance Founder Ends Speculations on His Affiliation With 'Next BNB'
Crypto Trends

8,000% in Week: Binance Founder Ends Speculations on His Affiliation With ‘Next BNB’

by admin September 29, 2025


Aster’s launch has been one of the most jaw-dropping crypto stories of the year. The decentralized exchange built on BNB Chain has seen daily trading volumes go above $20.8 billion, leaving Hyperliquid behind on $9.7 billion.

Its token, ASTER, shot up by more than 8,000% in just a week since its debut, peaking at $2.30 and pushing its market capitalization past $3.7 billion.

The speed of that move makes it look like Binance founder CZ might have had a hand in it. People are still wondering about the launch, the financing ties through YZi Labs and the sudden appearance of Trust Wallet partnerships. Aster was being called “the next BNB,” and some posts even said Changpeng “CZ” Zhao was part of the core team.

Is Binance and CZ behind Aster?

That rumor died down pretty quickly though as Zhao himself made it clear that he isn’t running Aster, he is just advising its builders. 

But this didn’t really change things much. As long as Binance was involved in some way, even if it was a small part, that was enough to keep the project in the eye of the public.

It’s not all about Binance ties as Aster’s got market participants hooked with a fresh product feature — hidden orders that let traders make bids and offers without showing them on-chain.

That feature, along with the fee discounts and how well it works with BNB’s ecosystem, gave it the kind of reputation that most new DEXes miss out on.

Skeptics say the exchange is washing its volume because it’s got a few big wallets holding a lot of the supply. But supporters say that the fact that BNB Chain is backing it, CZ is on the advisory board and it’s getting a lot of traction shows why people already think of Aster as the next big thing.





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September 29, 2025 0 comments
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Binance founder CZ clarifies Aster link: 'Just an advisor'
GameFi Guides

Binance founder CZ clarifies Aster link: ‘Just an advisor’

by admin September 28, 2025



Binance founder Changpeng Zhao has clarified his role with perpetual DEX Aster after community speculation about his involvement with the project.

Summary

  • CZ denies being on Aster’s team, says he’s only an advisor with a small stake
  • Aster competes with Binance but still benefits BNB, says CZ
  • ASTER token surged 7,000% since launch, driving speculation on CZ’s role

Zhao, aka CZ, confirmed that several former Binance employees are part of the Aster (ASTER) team and that his venture capital firm YZi Labs holds a minority stake in the platform.

The clarification came after an X user claimed CZ said during Spaces that he was “part of the Aster team,” prompting the Binance founder to respond directly.

“Not on the team, just an advisor,” Zhao said. While Aster competes with Binance, it ultimately benefits BNB, he added.

Confusion about Zhao’s involvement with Aster

The confusion about Zhao’s role emerged after market speculation surrounding his involvement with Aster.

One X user posted about holding 300,000 ASTER tokens, claiming CZ confirmed his team participation during X Spaces and setting price targets at $40 based on this perceived endorsement.

Zhao’s quick correction aimed to clarify the nature of his involvement amid growing market interest in the perpetual trading platform.

The ASTER token has experienced significant price movements since launch, surging over 7,000% from its initial price and reaching an all-time high of $2.41 on September 24. This growth has attracted both retail and institutional attention to the decentralized perpetuals space.

Aster competes with Binance, but helps BNB

Zhao’s comment that Aster “competes with Binance, but helps BNB” shows a nuanced view of ecosystem competition.

This perspective suggests that successful competitors can drive adoption that benefits the overall crypto ecosystem, including Binance’s native token.

Zhao’s public endorsement has amplified Aster’s visibility, with his initial congratulatory post following the token launch helping cause massive market interest.

However, he has consistently denied allegations of market manipulation to favor Aster over competitors like Hyperliquid.

The clarification comes as the perpetual DEX space experiences quick growth and competition.



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September 28, 2025 0 comments
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GDC founder says the event is "rapidly becoming a dinosaur"
Esports

GDC founder says the event is “rapidly becoming a dinosaur”

by admin September 27, 2025


The founder of GDC, Chris Crawford, has suggested that the “gigantic costs” of the event, compared with the “microscopic costs” of interacting over the internet, mean GDC is “rapidly becoming a dinosaur.”

Crawford – who worked at Atari in the early 1980s and later created the groundbreaking Cold War simulation Balance of Power for the Macintosh – founded GDC back in 1988. The first conference was held at his house in California.

He later stepped away from running the rapidly growing event in the 1990s, following disputes with board members over the conference’s direction.

Chris Crawford | Image credit: Avatar CC BY-SA 3.0

Earlier this week, GDC rebranded itself as GDC Festival of Gaming. But The Guardian warned that “even a rebrand may not be able to save America’s most storied gaming event,” with games editor Keza MacDonald arguing that the conference is “prohibitively expensive” and noting that “a large percentage of the global video game development community is reluctant to visit the US.”

GamesIndustry.biz contacted Crawford over email to ask his opinion on the above. Despite protesting that he might not be able to “offer any useful thoughts on the future of GDC,” given that he has been out of the industry for so long, he provided the following statement:

“There has been profound change that undermines the value of GDC.

“When I founded it, there was no way for game developers to share their ideas; I created it to permit that idea-sharing that is so important. Nowadays, there are lots of ways for people to share. There are plenty of social forums for discussing just about every aspect of game design. We have interactive video for pulling people from all over the world together.

“Given the gigantic costs, in both time and money, of attending something like GDC, compared to the microscopic costs of interacting with people via Internet, it would seem that GDC is rapidly becoming a dinosaur.”

GamesIndustry.biz has reached out to GDC for comment, and we will update this article if we hear back.



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September 27, 2025 0 comments
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Curve Finance Founder Michael Egorov Launches Bitcoin Yield Protocol
Crypto Trends

Curve Finance Founder Michael Egorov Launches Bitcoin Yield Protocol

by admin September 26, 2025



Michael Egorov, founder of Curve Finance, has launched Yield Basis, a decentralized protocol built to provide sustainable BTC$109,570.45 yield while eliminating impermanent loss (IL), one of decentralized finance’s longest-running challenges.

Bitcoin holders have long faced limited opportunities for on-chain returns. Lending markets rarely offer more than a fraction of a percent, while automated market maker (AMM) pools have exposed users to IL — the risk of losing value when token prices diverge. Even in favorable conditions, yields rarely topped 1–2%.

Yield Basis tackles this by reengineering the AMM model. The protocol removes IL risk altogether, which Egorov says will enable deeper Bitcoin liquidity on-chain and more attractive yield opportunities for institutional and professional investors. To manage early growth, three pools launched with a $1 million deposit cap each.

The system borrows from Curve’s five years of infrastructure resilience, adopting a vote-escrow mechanism (veYB) for governance. Token holders must lock their YB to participate in governance and earn protocol fees, distributed in either Curve’s crvUSD stablecoin or wrapped Bitcoin. Unlike many DeFi projects, token emissions aren’t simply handed to liquidity providers; they are tied to position yield, a model Egorov calls “value-protecting.”

Yield Basis secured $5 million in early 2025 funding and is the first project to debut on the joint Legion and Kraken launchpad, where the community can access its token sale. While Bitcoin is the initial focus, Egorov says the protocol’s impermanent loss solution could extend to Ethereum, tokenized commodities or even stocks — potentially broadening the scope of yield-bearing assets on-chain.



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September 26, 2025 0 comments
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Stuttgart Stock Exchange, owner of Boerse Stuttgart Digital (Boerse Stuttgart)
GameFi Guides

Binance Founder “CZ” Considers Opening YZi Labs to External Investors: FT

by admin September 23, 2025



YZi Labs, the family office founded by Binance co-founder Changpeng “CZ” Zhao, may open up to external investors, the Financial Times reported on Tuesday.

The $10 billion investment company, which was rebranded from Binance Labs, is open to the possibility of converting into an investment fund, head of YZi Labs Ella Zhang said in an interview, according to the report.

“There’s always a lot of external investors interested and we will eventually consider turning it into an external-facing fund,” Zhang said.

While YZi naturally has considerable nous in Web3 investments, it is “still early” in the fields of artificial intelligence (AI) and biotech, Zhang said.

“We’re forming our team, when we have that expertise…we’ll be open to external investors,” she said.

YZi Labs rebranded from being Binance’s venture capital arm to Zhao’s family office shortly after his release from prison following a four-month prison sentence for failing to set up an adequate know-your-customer program at Binance.

As part of his guilty plea, he stepped down as Binance CEO and has subsequently turned more of his attention to YZi Labs, which manages the money of Zhao and fellow Binance co-founder Yi He, also his longtime partner.

Family offices are not open to external investors as they manage the wealth of a single family, so do not raise money from outside sources.

YZi Labs did not respond to CoinDesk’s request for comment.



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September 23, 2025 0 comments
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