{"id":30011,"date":"2024-05-01T09:21:33","date_gmt":"2024-05-01T09:21:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/this-new-meme-coin-presses-on-as-most-cryptocurrencies-slide-after-cz-sentencing\/"},"modified":"2024-05-01T09:21:33","modified_gmt":"2024-05-01T09:21:33","slug":"this-new-meme-coin-presses-on-as-most-cryptocurrencies-slide-after-cz-sentencing","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/this-new-meme-coin-presses-on-as-most-cryptocurrencies-slide-after-cz-sentencing\/","title":{"rendered":"This new meme coin presses on as most cryptocurrencies slide after CZ sentencing"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1645548802101-9df138c4-8e9d-4506-add9-9cb2544e1faf-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1645548802101-9df138c4-8e9d-4506-add9-9cb2544e1faf-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1645548802101-9df138c4-8e9d-4506-add9-9cb2544e1faf-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1645548802101-9df138c4-8e9d-4506-add9-9cb2544e1faf-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Changpeng Zhao sentenced to four months in prison despite DOJ\u2019s request for a longer term.<\/li>\n<li>Crypto market dips after Binance founder\u2019s sentencing; BTC and ETH prices decline.<\/li>\n<li>Kangamoon presale gains momentum raising over $6 million with over 79% $KANG tokens sold.<\/li>\n<\/ul>\n<p>The global crypto market experienced a downturn, with a significant 8.17% decrease, following the sentencing of Changpeng Zhao, the former CEO of Binance. <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin (BTC)<\/a> and <a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum (ETH)<\/a> prices are leading, with BTC dropping by 9.03% and ETH by 9.16% over the last 24 hours.<\/p>\n<p>At press time, BTC was priced at $57,454.33, while ETH stood at $2,867.59. But as most cryptocurrencies dip, <a href=\"https:\/\/pr.kangamoon.com\/1ditvb\">Kangamoon<\/a>, a new meme coin, is offering an alternative opportunity with its ongoing presale.<\/p>\n<h2>Changpeng Zhao\u2019s sentence after DOJ\u2019s request rejection<\/h2>\n<p>c, known as \u201cCZ,\u201d was sentenced to four months in prison after pleading guilty to money laundering violations at Binance.<\/p>\n<p>As <a href=\"https:\/\/coinjournal.net\/news\/changpeng-cz-zhao-faces-reduced-jail-time-as-judge-rejects-doj-request\/\">reported earlier<\/a>, Zhao\u2019s sentencing came after U.S. District Judge Richard Jones declined the Department of Justice\u2019s (DOJ) request for a longer imprisonment of three years.<\/p>\n<p>Despite the significant penalties imposed on <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binanc<\/a>e, Zhao\u2019s sentence was notably shorter, reflecting the judge\u2019s decision.<\/p>\n<p>The prosecution had argued for a longer sentence, emphasizing the severity of Binance\u2019s misconduct. They accused Zhao of prioritizing the exchange\u2019s growth and profitability over compliance with U.S. laws, leading to a \u201cWild West\u201d environment that welcomed criminals. They also highlighted Binance\u2019s failure to report suspicious transactions involving designated terrorist groups and its support for the sale of illicit materials.<\/p>\n<p>In response, the defence maintained that Zhao\u2019s actions were not intentional criminal acts but rather mistakes in judgment. They emphasized Zhao\u2019s cooperation with authorities and his willingness to take responsibility for Binance\u2019s shortcomings. They argued that Zhao had aimed to make a positive impact in the crypto industry but had made errors along the way.<\/p>\n<p>In the end, the judge handed Zhao a 4 months prison sentence, which was viewed as lenient compared to what the U.S. DOJ wished for.<\/p>\n<p>Despite the judge\u2019s decision to impose a shorter sentence, he criticized Zhao for neglecting regulatory compliance. Judge Jones emphasized that Zhao had the resources and capabilities to ensure Binance\u2019s adherence to regulations but had failed to do so effectively.<\/p>\n<p>The judge\u2019s remarks underscored the importance of upholding legal standards in the rapidly evolving crypto landscape.<\/p>\n<h2>A new meme coin thrives in presale as market dips<\/h2>\n<p>As the market reacts to the Changpeng Zhao sentencing, Kangamoon is contending for the next top meme coin position.<\/p>\n<p>Contrary to other meme coins that have only capitalized on community involvement, Kangamoon integrates SocialFi and Play To Earn (P2E) elements to foster a vibrant community of meme enthusiasts.<\/p>\n<p>Kangamoon participants can engage in activities like assembling champions, battling epic encounters, and betting on favourite fighters to earn the native $KANG tokens and exclusive rewards.<\/p>\n<p>$KANG token is an ERC-20 token and operates on the Ethereum blockchain boasting a max supply of 1 billion tokens out of which 600 million tokens are available for purchase in the ongoing presale event.<\/p>\n<h2>Kangamoon presale<\/h2>\n<p>The <a href=\"https:\/\/pr.kangamoon.com\/1ditvb\">Kangamoon presale<\/a> has attracted considerable attention and has raised over $6 million, with 79.3% of tokens set aside for the presale sold and 20.7% remaining.<\/p>\n<p>As participants eagerly anticipate claiming their $KANG tokens post-presale, which will be accessible via the project\u2019s website through a simple claim button interested investors can still purchase $KANG tokens at a price of $0.0196 before the presale comes to an end.<\/p>\n<h2>Conclusion<\/h2>\n<p>The crypto market faces a downturn following Changpeng Zhao\u2019s sentencing, with Bitcoin and Ethereum prices declining.<\/p>\n<p>However, while the rest of the market slides into red, the Kangamoon project continues to gain momentum, with its $KANG token presale attracting significant investment interest.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/this-new-meme-coin-presses-on-as-most-cryptocurrencies-slide-after-cz-sentencing\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Changpeng Zhao sentenced to four months in prison despite DOJ\u2019s request for a longer term. Crypto market dips after Binance founder\u2019s sentencing; BTC and ETH prices decline. Kangamoon presale gains momentum raising over $6 million with over 79% $KANG tokens [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":30012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30011"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30011"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30012"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}