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There are few figures in crypto that have loomed quite as large in the past few years than Changpeng Zhao — better known as CZ — and the company he founded in 2017, Binance.
Data from crypto analytics platform Nansen signalled some investors had been rattled by the news and pulled assets from the exchange
The decline is part of a larger pullback from investing at crypto companies — which often have substantial venture capital arms.
Coinbase Ventures has shifted focus to crypto startups outside the United States amid growing regulatory scrutiny in the country.
Bitcoin has been seen trading at its higest since May 2022, a hike of 127%. It had hit an all time high of $67000 in November 2021, states Ajeet Khurrana, Founder of Reflexical.