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<p class="is-style-lead">In today’s edition of the weekly recap: Binance founder Changpeng Zhao’s release date; Ex-President Donald Trump and his sons officially launch a crypto venture; Token2049 wraps; MicroStrategy buys more Bitcoin; market recovers following Fed Reserve rate cut.</p> 
<h3 class="wp-block-heading" id="binance-founder-s-release-date">Binance founder’s release date</h3> 
<ul class="wp-block-list"> 
 <li>Last week, reports <a href="https://crypto.news/former-binance-ceo-changpeng-zhao-to-be-released-from-u-s-prison/" target="_blank">confirmed</a> that Binance founder Changpeng Zhao is set to be released from prison on Sept. 29, citing official data from the U.S. Federal Bureau of Prisons.&nbsp;</li> 
 <li>Recall that Zhao and Binance pleaded guilty to charges bordering on violations of AML provisions. The former Binance CEO was sentenced to four months in prison, <a href="https://crypto.news/binance-founder-changpeng-zhao-begins-prison-sentence/" target="_blank">starting</a> June this year.&nbsp;</li> 
</ul> 
<h3 class="wp-block-heading" id="trump-launches-crypto-venture">Trump launches crypto venture</h3> 
<ul class="wp-block-list"> 
 <li>Former U.S. President Donald Trump <a href="https://crypto.news/donald-trumps-wlfi-token-to-be-limited-to-accredited-investors/" target="_blank">unveiled</a> World Liberty Financial, a new crypto venture.</li> 
 <li>The project, championed by Trump and his two eldest sons, Eric and Don. Jr., aims to disrupt the traditional banking system. A WLFI token is set to be <a rel="" href="https://crypto.news/donald-trumps-world-libertyfi-full-red-flags-experts/">released</a> and sold only to accredited investors.&nbsp;</li> 
</ul> 
<h3 class="wp-block-heading" id="token2049-highlights">Token2049 highlights</h3> 
<ul class="wp-block-list"> 
 <li>Crypto conference Token2049 ran from Sept. 18 to 19 in Singapore. One of the <a href="https://crypto.news/token2049-singapore-main-highlights/" target="_blank">highlights</a> included a panel discussion on the future of the crypto industry featuring Ethereum co-founder Vitalik Buterin and Circle CEO Jeremy Allaire, among others.</li> 
 <li>Buterin supported the adoption of crypto for more real-life use cases and less focus on NFTs. BitMEX founder Arthur Hayes predicted that the Fed’s interest rate cut could trigger a short-term market drop. OKX founder Star Xu stressed the importance of self-custody.</li> 
</ul> 
<h3 class="wp-block-heading" id="iggy-azalea-throws-shade-at-token2049">Iggy Azalea throws shade at TOKEN2049</h3> 
<ul class="wp-block-list"> 
 <li>Iggy Azalea recently hosted a crypto-themed party in Las Vegas to promote her meme coin MOTHER and her newly launched casino called Motherland.</li> 
 <li>Some crypto enthusiasts criticized Azalea as videos and images from the gathering surfaced. The “Fancy” singer <a rel="" href="https://crypto.news/iggy-azalea-ethereum-creator-vitalik-buterin-token2049/">clapped back</a>, and proceeded to poke fun at attendees of TOKEN2049, including Ethereum creator Vitalik Buterin who sang at the <a href="https://twitter.com/justinsuntron/status/1836330985706918253" target="_blank">event</a>.</li> 
</ul> 
<h3 class="wp-block-heading" id="markets-recover-on-fed-rate-cut">Markets recover on Fed rate cut</h3> 
<ul class="wp-block-list"> 
 <li>On Sept. 18, the Federal Reserve <a href="https://www.wsj.com/economy/central-banking/fed-cuts-rates-by-half-percentage-point-03566d82" target="_blank">reduced</a> interest rates by 0.50%, marking the first cut since the COVID-19 pandemic began over four years ago. In response, the crypto market staged a recovery.</li> 
 <li>Following the rate cut, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) <a href="https://crypto.news/bitcoin-surges-past-62k-following-fomcs-50bp-rate-cut/" target="_blank">rebounded</a> above $64,000 for the first time in September, catalyzing the broader market momentum. However, some analysts warned that the rate cut could be detrimental to the market.&nbsp;</li> 
</ul> 
<h3 class="wp-block-heading" id="microstrategy-buys-7-4k-more-btc">MicroStrategy buys 7.4k more BTC</h3> 
<ul class="wp-block-list"> 
 <li>Last week, software development company MicroStrategy <a href="https://crypto.news/microstrategy-wraps-up-1-01b-convertible-notes-offering-in-4-days/" target="_blank">concluded</a> a convertible note offering worth $1.01 billion four days after announcing it.</li> 
 <li>Following this development, the firm <a href="https://crypto.news/microstrategy-buys-bitcoin-worth-458m-total-holdings-hit-252220-btc/" target="_blank">accumulated</a> 7,420 BTC with proceeds from this sale, amounting to $458 million. This brought MicroStrategy’s Bitcoin stash to 252,220 tokens.</li> 
</ul> 
<p>For last week’s Weekly Recap, <a rel="" href="https://crypto.news/bitcoin-etfs-microstrategy-xrp-trust-weekly-recap/">click here</a>.</p> 
<p> Read more: <a rel="" href="https://crypto.news/new-solana-mobile-seeker/"> Solana unveils new phone: Why it could revolutionize web3? </a> </p>

Binance founder’s release date, Trump’s crypto venture, Token2049 | Weekly Recap

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