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Where Is Catherine Coley? Crypto World Puzzled By Disappearance of Former Binance U.S. Chief

Catherine Coley was the popular CEO of Binance US until her abrupt ouster in mid-April. She has not been heard from since.

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In brief

  • The former CEO of Binance US, ousted in April, has not been heard from since then and her social media accounts list her old title.
  • A Decrypt investigation reveals some clues of what became of Catherine Coley.

What happened to Catherine Coley?

The whereabouts of the 30-something former CEO of Binance US is a mystery gripping the crypto world.

Until April of this year, Coley was active on social media and a fixture on the crypto social circuit. She was popular with others in the industry—”call me Coley,” she would tell those who first met her—and always quick to respond to event invitations and questions from members of the media.

That all changed when she was abruptly replaced at Binance US in April.

Since that time, Coley has effectively vanished.

No one has reported seeing her in San Francisco where she worked, and her once-lively Twitter account has been silent since April 19. A former colleague tells Decrypt Coley did not acknowledge recent birthday greetings from friends. Perhaps strangest of all, Coley’s LinkedIn and Twitter accounts still describe her as “CEO of Binance US.”

All of this has led the more conspiracy-minded corners of crypto to ask whether she is still alive.

Coley has communicated via intermediaries

The answer to that question is yes, as two people tell Decrypt of having recent communications with her. Those include a text message exchange, and communications with Binance that occurred through an intermediary.

While her current whereabouts are unknown, few doubt that her disappearance from the public sphere is a direct result of her ousting from Binance US. The firm is a subsidiary of Binance, the world’s largest crypto exchange, whose maverick CEO Changpeng “CZ” Zhao tapped Coley to run U.S. operations in July 2019. By all appearances, Binance approved of Coley’s performance, celebrating her appearance on the Fortune 40 Under 40 list on its official Instagram account last year.

But on April 20, the Wall Street Journal reported that Binance had hired Brian Brooks, a former top lawyer at Coinbase and acting head of the Office of the Comptroller of the Currency (OCC), to be its new CEO.

The move made strategic sense for the company. Coley had an impressive resume, with a five-year stint as a trader at Morgan Stanley and experience at crypto company Ripple, but she did not have pull in Washington—a place where Binance is scrambling to gain traction as regulators breathe down its neck over its loose approach to consumer safeguards. (A 2020 Forbes exposé reported on how Binance uses elaborate fronts to bamboozle American regulators; Binance responded by suing Forbes.) Brooks, by contrast, had just finished a stint leading the agency that oversees the country’s banks, and had years of experience dealing with regulators.

Nonetheless, Binance handled Brooks’s hiring in clumsy fashion.

In the ordinary course of business, a firm will treat the replacement of a CEO, even one who has botched things (which Coley did not), with a flurry of press releases thanking them for their service and, in many cases, appointing them a cushy new role with an impressive title.

Binance, CZ, and Brooks said nothing at all about Coley. Nor have they since. Binance declined to comment for this story. Coley did not respond to two direct messages sent to an account from which she has replied in the past.

“They exited her stage left without so much as a mention”

The unceremonious ousting reflected poorly on Binance, not least because Coley was one of a small handful of women who occupied a senior position in an industry dominated by men.

“They exited her stage left without so much as a mention, and given how much work she did, I found it disgraceful and distasteful,” says Meltem Demirors, an executive with the company Coinshares and a vocal figure in the crypto world.

So, what actually happened between Binance and Coley?

Sources who spoke on the condition of anonymity say CZ had hoped Coley would remain at Binance after the hiring of Brooks, but that she no longer wished to stay, and that Brooks, who has a hard-nosed reputation, did little to encourage her to do so.

Now Coley and Binance are most likely in litigation over her ouster, a situation that typically obliges participants to remain tight-lipped. If this is the case, Coley may also be using her silence as leverage for a potential settlement in which she agrees not to disparage her former employer.

Whatever the explanation of her current vanishing act, the upshot is that the crypto world has lost a rising star female executive—for now.

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Source: https://decrypt.co/76096/binance-ceo-catherine-coley-disappeared-after-ouster

Blockchain

Crypto Mining Apps Features and Functions

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Are you curious about what crypto mining applications can do? Feel free to explore the many different features and functions of these apps to seize opportunities of gathering some heavy loot.

Multi-clicks support

So you are looking for decent crypto mining software that can help you get the job done in a short amount of time. Yes, you can find some software that is ready for use after several clicks. And you do not have to secure professional skills to be able to run the system. You can rely on automated crypto mining solutions that will do the rest of the work for you. That means most of the time, you can sit back and relax.

While most software would boast about the user-friendly interface, some would prefer complex functions such as those that offer customised features. This is common for veteran crypto miners who have already gained expertise along the process. Understandably, they would want to do more than the typical crypto mining procedure. Most of them intend to upgrade their skills by confronting new challenges to break the monotonous routine.

Multi-platform support

Whether you will be using a GPU or a CPU, rest assured that you can find the best software for your choice of hardware. Some could even go either way that you need not bother at all. Thanks to the advanced functionality of some crypto mining applications that makes this possible. Nonetheless, professional miners would prefer GPU mining for complex and complicated computations.

The good thing about most crypto mining software is that you can use them in any operating system. You can run them in Windows, Mac, Android, IOS, Web and the like. But if you do not have an array of gadgets, you can always settle for the basic software compatible with Windows. Besides, some miners would prefer using their high-end computers instead of mobile devices, considering the demanding power requirements. You would not want to get your android phone’s battery frequently drained due to intensive crypto mining activities.

Multi-functions support

Although dubbed as crypto mining software, it is a delight to hear that most of these programs offer more services. Some would also be useful in trading those mined coins once you have them in your wallet. Yes, you can go straight to trading after paying some transaction fees. The only consolation is that you can do it all on one platform. Plus, it will save you some time and effort after all.

Since you can access some crypto exchange functions, you can expect the perks that go with the typical trading platform. Rest assured that you will have those useful statistics such as price history track so that you can be guided accordingly. Trading platforms are being developed, giving traders other options to invest their money. These would teach you more than the basic skill of buying when prices are low and selling when prices are high.

Multi-cryptocurrency support

Cryptocurrency mining is no longer exclusive to a single type of coin. Some programs allow users to mine several currencies in the likes of Bitcoin, Ethereum, and other crypto players. It is an opportunity to build a good portfolio of virtual coins for any investor. The only catch is to find the best ones from the flock to ensure profitability at the end of the day. You can always go for the market leaders as fair and reasonable choices.

The diversity of digital coins available for mining helps spread the risk. It provides enough buffers to compensate for some record-lows involving one or two coins in your portfolio. As much as possible, you would be better off mining more than one kind of cryptocurrency. You cannot simply put all your eggs in one basket, especially in a market that is known for its volatility.

Conclusion

There are many interesting features and functions of crypto mining apps. You can make use of them to seize your crypto mining opportunities—no need to hold back in taking your chances of mining more and more coins.

Source: Plato Data Intelligence

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Blockchain

Iran To Lift Cryptocurrency Mining Ban In September

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In 2019, the Iranian government announced it would regulate mining activities in the country. Interested miners were required to get a permit from the Ministry of Industries. Semnan province leads with six mining farms out of the 30 licensed companies. After legalizing bitcoin mining, the government licenced over 1000 companies in January 2022.

Ban on Crypto Mining Activities

The Iranian government banned bitcoin mining in the country in May 2021. The ban announced by the former president Hassan Rouhani was due to a strain on electricity power majorly caused by illegal mining. While authorised bitcoin miners consume modest 30 megawatts, illegal mining activities use up to 2000 megawatts putting a strain on the electricity grid. 

Since April, the ministry of Energy has also increased power tariffs for miners. The companies buy power at export rates of $0.34 per kilowatt-hours. This cost is fourfold the standard rate before April. Besides prohibiting bitcoin mining, the government has confiscated 200 000 illegal mining rigs in 12 months. 

A Reason To Smile 

The good news is that miners have a reason to smile. The Iranian Ministry of Industries, Mining and Trade will lift the Bitcoin mining restriction on September 22. The announcement was made by the Iran Power Generation, Distribution and Transmission Company, Tavanir. According to the Utility spokesman, Mostafa Rajabi Mashhadi, they expected electric power usage to fall by the end of summer. This will create perfect conditions for resuming bitcoin mining. After announcing this news, the price of Bitcoin slightly jumped and is now according to CoinCheckup.com traded at $43,626, similar growth has also been according to coincheckup.com recorded for a relatively new coin called Solana, which now hovers around the 150 USD mark.

Power demand in the country goes up during hot weather. Initially, the government had planned to shut down mining activities during peak hours. However, they decided to impose a nationwide ban until the end of the summer season. Besides using massive power, the Utility claims the miners damage the power grid, with losses amounting to $4 million. 

Government Control on CryptoCurrencies 

The Iran government has gone a notch higher to control and centralise the use of cryptocurrencies in the country. The parliament has proposed a bill that will prohibit using foreigner mined cryptocurrencies for local transactions. This move seems like a plan to localize crypto mining. Recently, the tax agency in the country also called for the establishment of a legal framework for crypto trading activities. This regulation will boost the scope of the crypto acceptance policy.

Positive Effect on Economy 

Bitcoin has become a significant source of income for the country. Elliptics guide’s projection shows that mining activities in Iran will rake in $1 billion in annual revenue.  However, the ban has affected this goal significantly. However, the resumption of mining will solve this problem.

Miners who had dispersed will resume operations, a factor that could inject more revenue into the economy. With the crackdown of bitcoin mining in China, lifting the ban in Iran could propel the country to the top spot in crypto mining. 

Iran is also facing sanctions from the US government. This means that MasterCard, PayPal and other international payment technology can’t operate in the country. This has made it very difficult for Iranians to conduct online international transactions such as online purchases and money transfers. The bitcoin mining ban exacerbated the situation. Therefore resumption of mining activities is welcome good news. Iranians consider cryptocurrency as an investment and payment method.

Bitcoin mining is quite an essential activity in the circulation, development and maintenance of its blockchain ledger. In other words, mining more bitcoin boosts its circulation. Although bitcoin price is pretty much unpredictable, the resumption of mining activities in Iran will increase competitiveness and encourage crypto enthusiasts to invest more in bitcoin. Despite the high volatility and restriction by the international banking system, bitcoin has immense growth potential. 

Source: Plato Data Intelligence

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Blockchain

Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

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Since last Friday, the People’s Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX – a decentralized leveraged trading exchange.

The trading activity of the centralized derivatives exchange dYdX has surged. According to cryptocurrency data provider CoinGecko, the trading volume of DYDX reached $1,217,300,925 within 24 hours, surpassing Coinbase’s spot market for the first time.

The token of Defi exchange dYdX also hit a record high of 21.80 today, rising by nearly 50% in 24 hours.

According to Coinmarketcap data, DYDX’s 24-hour trading volume increased by 196.28%. At the time of writing, dydx is trading at $21.43.

In yesterday’s Twitter, WuBlockchain Chinese cryptocurrency reporter Colin Wu pointed out that the demand of Chinese users for decentralized exchanges and other DeFi products has surged recently. He explained:

“A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.”

As Chinese investors are worried about the stricter regulatory measures of the Chinese government, such as an announcement issued by the Central Bank of China last Friday mentioned that all cryptocurrency-related transactions are illegal.

Virtual currencies such as Bitcoin, Ether, Tether, and other virtual currencies do not enjoy the same legal status as legal tender, are not legally repayable, thus should not be traded as circulating currencies in the market, which has caused investors’ FUD anxiety.

Investors have moved from centralized exchanges such as Huobi to decentralized exchanges dYdX and FutureSwap for continuing cryptocurrency leveraged trading.

As reported by Blockchain.News today, Huobi Global, one of the world’s largest digital currency trading platforms, has announced it will gradually unwind its services in mainland China as the People’s Bank of China (PBoC) and other state regulators seek to intensify their clampdown on all activities bordering digital currencies in the country.

Huobi officials stated that it has stopped using mobile phone numbers from mainland China in new account registrations and will phase out existing accounts in mainland China before the end of the year “to comply with local laws and regulations.”

Huobi token has fallen by 42.61% in 7 days and is valued at around $7.63, according to the current price.

Image source: dYdx.com
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Source: https://Blockchain.News/news/investors-flock-the-dex-dydx-its-token-rising-50-the-clampdown-china

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Blockchain

Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

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on

Since last Friday, the People’s Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX – a decentralized leveraged trading exchange.

The trading activity of the centralized derivatives exchange dYdX has surged. According to cryptocurrency data provider CoinGecko, the trading volume of DYDX reached $1,217,300,925 within 24 hours, surpassing Coinbase’s spot market for the first time.

The token of Defi exchange dYdX also hit a record high of 21.80 today, rising by nearly 50% in 24 hours.

According to Coinmarketcap data, DYDX’s 24-hour trading volume increased by 196.28%. At the time of writing, dydx is trading at $21.43.

In yesterday’s Twitter, WuBlockchain Chinese cryptocurrency reporter Colin Wu pointed out that the demand of Chinese users for decentralized exchanges and other DeFi products has surged recently. He explained:

“A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.”

As Chinese investors are worried about the stricter regulatory measures of the Chinese government, such as an announcement issued by the Central Bank of China last Friday mentioned that all cryptocurrency-related transactions are illegal.

Virtual currencies such as Bitcoin, Ether, Tether, and other virtual currencies do not enjoy the same legal status as legal tender, are not legally repayable, thus should not be traded as circulating currencies in the market, which has caused investors’ FUD anxiety.

Investors have moved from centralized exchanges such as Huobi to decentralized exchanges dYdX and FutureSwap for continuing cryptocurrency leveraged trading.

As reported by Blockchain.News today, Huobi Global, one of the world’s largest digital currency trading platforms, has announced it will gradually unwind its services in mainland China as the People’s Bank of China (PBoC) and other state regulators seek to intensify their clampdown on all activities bordering digital currencies in the country.

Huobi officials stated that it has stopped using mobile phone numbers from mainland China in new account registrations and will phase out existing accounts in mainland China before the end of the year “to comply with local laws and regulations.”

Huobi token has fallen by 42.61% in 7 days and is valued at around $7.63, according to the current price.

Image source: dYdx.com
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://Blockchain.News/news/investors-flock-the-dex-dydx-its-token-rising-50-the-clampdown-china

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