Binance CEO Sees A Troubling Day For Cryptos As Biden Proposes Taxation Scheme — Bone ShibaSwap Offers Solution

Binance CEO Changpeng Zhao, popularly known as "CZ," took to Twitter on Thursday to share that after a mere four hours of sleep, he awoke to some troubling events affecting the cryptocurrency world.

What Happened: CZ said a "Silicon Valley Bank" is having issues, the New York Attorney General is suing KuCoin, the White House is considering a 30% tax on mining electricity, and the Huobi token had a flash crash, causing other crypto prices to dip a bit.

But, he said, “Bitcoin BTC/USD [is] still producing blocks.”

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Shiba Inu SHIB/USD ecosystem token BoneShibaSwap BONE/USD handle responded to CZ's comment, saying that Shibarium, the highly anticipated beta layer 2 scaling solution, will solve all the current problems.

The Shibarium beta network launches this week and BONE will be the official gas token used to facilitate transactions. 

Price Action: At the time of writing, BONE was trading at $1.53, down 11.40% in the last 24 hours, according to Benzinga Pro data.

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