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Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities. Binance’s $4.3 billion settlement  with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry , according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage concerned investors and users of the global exchange: “I think they’re de-risked in lots of ways. People were worried about dealing with Binance. There’s a lot less to worry about now.” Novogratz also weighed in on the considerations for major investment firms dealing with exchanges, as well as traditional finance (TradFi) players, with regulatory oversight continuing to take center stage in the United States. Binance didn’t steal money The Galaxy Digital CEO ...

Binance has been experimenting with relatively lesser-known stablecoins after a pause on BUSD. Coinbase CEO Brian Armstrong’s comments to a question about the USD Coin (USDC) stablecoin during the company’s second-quarter earning calls raised some eyebrows.  While commenting on the market cap of USDC, Armstrong quipped that Binance moved some of its funds from USDC into another stablecoin, but despite that, the market cap of USDC has held up. “Binance actually moved some of their funds from USDC into another stablecoin. I think the data we have in the last six or seven weeks, I believe, that the USDC market cap is up net of that. And so that’s an important data point.” USDC is the preferred choice of stablecoin on Coinbase, and the crypto exchange is a member of the consortium that owns USDC. Binance crypto exchange once also held a significant amount of USDC reserves; however, based on Armstrong’s comments, it seems the crypto exchange has converted a chunk of its holdings to other ...