Trynews Binance one of the largest cryptocurrency exchanges in the world, has officially acquired Tokocrypto, one of the largest cryptocurrency exchanges in Indonesia. In this acquisition, Binance will gradually increase its shareholding in Tokocrypto by up to 100%. This is a strategic move for Binance to expand its reach into the Indonesian market, which is one of the largest cryptocurrency markets in the world.
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https://trynews.id/tokocrypto-resmi-di-akuisisi-oleh-binance/It seems to be a good move for Binance, but what is good for Binance is not necessarily a good thing for the market in general, the fall of FTX has made many people suspicious of centralized exchanges, as they should have always been, and this move while it may seem to strengthen Binance it will only make things way more painful once it falls as well, now this may not happen soon but there is a very high chance it will at some point in the future, and when it does the consequences for the market will be huge too, if at the time Binance is still as powerful as it is now.