In an unexpected turn, the recent negative court verdict against Binance has positively impacted $ BNB's price. Instead of expected mishaps, $BNB has exploded past $300. This news is an exciting development for the Binance community and the cryptocurrency market as a whole. On the other hand, $GFOX has passed $2 million as investors have bought over 1.9 billion of its tokens. Let's look at what makes these new developments possible.

What Led To Binance's Huge Sanctions of Billions of Dollars

Monday, 18th of December 2023, was an unforgettable day for Binance at the United States District Court of the Northern District of Illinois. The judge validated a consent order that unseated Changpeng Zhao as the Binance CEO. 

Before the final judgment, the Justice Department had accused Binance of violating U.S. laws, including money laundering and illegal transactions in the states. The department further stated that Binance and its CEO provided a transaction avenue for terrorists and illicit acts. In addition, the company had its way of profiting from the U.S. market without considering the laws.

The Final Resolution Between the U.S. Government and Binance

To avoid a drastic setback as the leading cryptocurrency exchange with a large number of members, Binance agreed with the Justice Department. In their documented deal, U.S. citizens can only trade on Binance.US for proper monitoring instead of Binance.com. 

In addition, the judge ordered Changpeng Zhao to step down as the CEO, but he can hold on to his ownership right. Coupled with that, C.Z. was to pay $50 million while the company should pay a $4.3 billion fine. 

The breakdown of the penalties is a whooping payment of $2.7 billion for illegal exchange. Parts of the fines are $1.35 billion in compensation for illegally acquired transaction fees and a $1.35 billion fine remitted to the Commodity Futures Trading Commission. Shockingly, Samuel Lin, the former CCO of Binance, also went home with a civil monetary fine of $1.5 million. 

At the end of the session, the court ordered Binance to have substantial operational adjustments, highlighting the need for a robust corporate governance framework at Binance. The verdict includes having a Board of Directors with independent members, a Compliance Committee, and an Audit Committee within the Binance administration.

During this long trial, there was a shakeup in the crypto-verse as BNB, BTC, and Eth dropped in price. However, the recent development now clarifies how Binance can continue its transactions in the U.S. Additionally, this news repositions the platform at the forefront of global exchange. It has also attracted more members and recorded a remarkable trade volume that soared beyond $15 billion. 

In conclusion, BNB, the adopted token of Binance, the world's largest cryptocurrency exchange, has not only soared but keeps striving.

Unbelievable, $GFOX Hits $2 Million Valuation

Another exciting news for the crypto world is the meteoric rise of $GFOX, now over $2 million. As we enter 2024, Galaxy Fox has a price of $0.001749 in its 6th stage with over $2 million raised. Also, its investors have possessed over 1.9 billion tokens as they anticipate entering its 7th stage. 

Indeed, Galaxy Fox is the most promising and prominent meme coin among other coins you can invest in during this presale season. Besides its meme coins, Galaxy Fox's ecosystem features P2E gaming tokens, which attract more players. Members earn $GFOX tokens playing this web3 runner game after they emerge as one of the top performers in the game.

In addition to its exciting exploration, there are provisions to improve your avatar's features, strength, and accuracy on the $GFOX P2E game. Players get these boosters by using their $GFOX tokens. 

More so, at the concluding part of each season, weekly and monthly, the highest-ranking 20% of players on the leaderboard receive in-game currencies as rewards. Plus, these rewards are convertible to $GFOX tokens, which you can later change to real money.

What's more? Galaxy Fox creates an avenue for Non-Fungible Tokens and a marketplace for its members. Users can mint their NFTs from Galaxy Fox and trade them on other NFT platforms. Also, holders can access Galaxy Fox Stargate rewards for staking $GFOX tokens. As a result, it supports users in having more financial benefits and promising storage for their $GFOX tokens.

These fun-filled opportunities found in Galaxy Fox are the reasons why it keeps expanding. Surprisingly, it might have sold out beyond 2 billion tokens and entered a $2.5 million valuation before 2024. So, do not hesitate to be among its investors before it enters stage 7.

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Conclusion 

Overall, Galaxy Fox tokens have a lot of benefits for its members. The token's ecosystem provides investors with a diverse range of opportunities, combining both meme coins and P2E games. In addition, its financial strengths lie in its tokenomics, treasury, token burns, staking, token taxes, and NFT royalties. All these features ensure its sustainability and attractive investment environment. 

Learn more about $GFOX here:

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