Binance sues Wall Street Journal
Crypto exchange Binance has filed a lawsuit against the Wall Street Journal over an article about the company's alleged violations of U.S. sanctions on Iran. This comes amid a U.S. Department of Justice investigation into Binance's potential sanctions evasion.
According to Binance, the WSJ article "contains false and misleading statements that damage the company's reputation." Binance's business director Changpeng Zhao said the publication refused to correct the article after the company's request.
Previously, WSJ reported that Binance allegedly helped users in Iran bypass American sanctions. This has become the subject of a DOJ investigation, which is examining whether the world's largest crypto exchange violated anti-money laundering and counter-terrorism financing laws.
Bitwise: Bitcoin could reach $1 million
According to Matt Hougan, Chief Investment Officer at Bitwise, bitcoin could in the long run appreciate to $1 million. He noted that the digital gold is increasingly being viewed by institutional investors as an effective tool for hedging risks and diversifying portfolios.
"If you look at the market capitalization of gold, it's around $12 trillion. If bitcoin takes 10% of that market, that gives you a $1 million per coin price," Hougan said. He also added that over time, the cryptocurrency will become more integrated into the financial system, supporting its value.
Overall, the news about Binance's lawsuits and bitcoin price forecasts demonstrates the high volatility and uncertainty in the crypto market. This requires investors to carefully analyze the situation and diversify their investments.