The global crypto market took a hit, dropping by a significant 8.17% after the former CEO of Binance, Changpeng Zhao, got sentenced. Bitcoin (BTC) and Ethereum (ETH) were hit the hardest, with BTC losing 9.03% and ETH losing 9.16% in the last day.
BTC was at $57,454.33, and ETH at $2,867.59. But amidst this dip, there’s a new meme coin called Kangamoon, which is in its presale and catching attention.
Zhao, often called “CZ,” got a four-month prison sentence for admitting to money laundering violations at Binance. The judge, Richard Jones, didn’t grant the DOJ’s request for a three-year sentence, opting for a shorter one for Zhao.
The prosecutors demanded a harsher penalty for Binance, stating Zhao prioritized growth over U.S. laws, fostering a lawless atmosphere. They highlighted Binance’s negligence in reporting suspicious transactions and aiding illegal sales. Meanwhile, Kangamoon seeks to dominate meme coins.
As the market reacts to Changpeng Zhao’s sentencing, Kangamoon is vying for the next top spot among meme coins.
Kangamoon sets itself apart from other meme coins by integrating SocialFi and Play To Earn (P2E) elements, fostering an active community of meme fans. Users engage in activities such as forming champions, battling epic encounters, and wagering on fighters to earn $KANG tokens and special rewards.
The $KANG token, an ERC-20 on Ethereum with a total supply of 1 billion, is in presale, with 600 million available. It has raised over $6 million, selling 79.5% so far. Investors can buy it at $0.0196.
Also Read: Fantom Allocates $6.5 Million to Promote ‘Safer Memecoins’
