Highlights:
Changpeng Zhao (CZ), founder of Binance, shared plans to make the United States a major hub for cryptocurrency. He spoke at Binance Blockchain Week, held at the Coca Cola Arena in Dubai from December 3-4.
Zhao thanked President Trump for his pardon, saying it allows Binance to operate more freely in all regions, including the US. ““It’s my full intention to help make America the capital of crypto,” he said. He also looked back at Binance’s earlier US strategy. The company had reduced investments and operations in the country over the past few years because of challenges with the Biden administration. Now, he plans to support crypto businesses across the US.
Changpeng Zhao also noted that Binance US, launched in September 2019 to serve American residents legally, is still running but is a small part of the company. He described the US as a very important market with strong tech talent, even though most major blockchain leaders are still based abroad.
CZ highlighted Binance’s plan to bring major global crypto businesses back to the United States. He said many institutional investors still cannot access Binance Coin (BNB), and the company wants to fix this. He addressed the SEC lawsuit, which made Binance US lose banking access and some state licenses. Despite this, he said the US is now strategically important for the company’s long-term growth.
CZ stressed that clear regulations are key to global crypto adoption. He is working with over a dozen countries to create effective rules. “Now the US is leading, which is good, but it is just getting started. Trump has only been in power for a year,” he said. He also mentioned recent laws like the GENIUS Act, which gives clear rules for stablecoins. Meanwhile, the CLARITY Act, meant to define digital assets, is still being developed. CZ explained that early regulations may be imperfect and will take time to improve.
Changpeng Zhao emphasized that cooperation between banks and crypto companies is essential for mainstream adoption. He noted that integrating with existing financial systems is the best way to support growth. He also spoke about his personal challenges. In April last year, he served a four-month prison sentence after pleading guilty to US money laundering violations.
Recently, Binance launched Binance Junior, a mobile app for children aged 6 to 17. The app allows parents to monitor and control their kids’ crypto activities. It connects to the parent’s main Binance account. Parents can deposit funds, send transfers, and allow access to interest-earning crypto products, following local rules. Binance Junior works like a custodial account, where children can hold crypto, but parents retain full legal ownership and control.
Along with the app, Binance released a children’s book called ABCs of Crypto. The book explains concepts like blockchain, security, and types of digital assets using simple language and illustrations, making crypto easy to understand for kids.
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Highlights: US prosecutors requested a 12-year prison sentence for Do Kwon after the Terra collapse. Terraform’s $40 billion downfall caused huge losses and sparked a long downturn in crypto markets. Do Kwon will face sentencing on December 11 and must give up $19 million in earnings. US prosecutors have asked a judge to give Do Kwon, Terraform Labs co-founder, a 12-year prison sentence for his role in the remarkable $40 billion collapse of the Terra and Luna tokens. The request also seeks to finalize taking away Kwon’s criminal earnings. The court filing came in New York’s Southern District on Thursday. This is about four months after Kwon admitted guilt on two charges: wire fraud and conspiracy to defraud. Prosecutors said Kwon caused more losses than Samuel Bankman-Fried, Alexander Mashinsky, and Karl Sebastian Greenwood combined. U.S. prosecutors have asked a New York federal judge to sentence Terraform Labs co-founder Do Kwon to 12 years in prison, calling his role in the 2022 TerraUSD collapse a “colossal” fraud that triggered broader crypto-market failures, including the downfall of FTX. Sentencing is… — Wu Blockchain (@WuBlockchain) December 5, 2025 Terraform Collapse Shakes Crypto Market Authorities explained that Terraform’s collapse affected the entire crypto market. They said it helped trigger what is now called the ‘Crypto Winter.’ The filing stressed that Kwon’s conduct harmed many investors and the broader crypto world. On Thursday, prosecutors said Kwon must give up just over $19 million. They added that they will not ask for any additional restitution. They said: “The cost and time associated with calculating each investor-victim’s loss, determining whether the victim has already been compensated through the pending bankruptcy, and then paying out a percentage of the victim’s losses, will delay payment and diminish the amount of money ultimately paid to victims.” Authorities will sentence Do Kwon on December 11. They charged him in March 2023 with multiple crimes, including securities fraud, market manipulation, money laundering, and wire fraud. All connections are tied to his role at Terraform. After Terra fell in 2022, authorities lost track of Kwon until they arrested him in Montenegro on unrelated charges and sent him to the U.S. Do Kwon’s Legal Case and Sentencing In April last year, a jury ruled that both Terraform and Kwon committed civil fraud. They found the company and its co-founder misled investors about how the business operated and its finances. Jay Clayton, U.S. Attorney for the Southern District of New York, submitted the sentencing request in November. TERRA STATEMENT: “We are very disappointed with the verdict, which we do not believe is supported by the evidence. We continue to maintain that the SEC does not have the legal authority to bring this case at all, and we are carefully weighing our options and next steps.” — Zack Guzmán (@zGuz) April 5, 2024 The news of Kwon’s sentencing caused Terraform’s token, LUNA, to jump over 40% in one day, from $0.07 to $0.10. Still, this rise remains small compared to its all-time high of more than $19, which the ecosystem reached before collapsing in May 2022. In a November court filing, Do Kwon’s lawyers asked for a maximum five-year sentence. They argued for a shorter term partly because he could face up to 40 years in prison in South Korea, where prosecutors are also pursuing a case against him. The legal team added that even if Kwon serves time in the U.S., he would not be released freely. He would be moved from prison to an immigration detention center and then sent to Seoul to face pretrial detention for his South Korea charges. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

