The last weeks were marked by notable news splashes about Binance, and the problems of this exchange.
It's obvious that if Binance exchange is facing this kind of challenges from government regulations other exchanges may not scale through, this is part of the reasons you will discover many fee related issues with the exchanges when government is not giving them a breathing space, they will have to result the whole consequences on their users.
- The media reported about layoffs at Binance. Bitcoin exchange Binance has begun laying off staff. Presumably, the percentage of laid-off staff will be 20%, reported reporter Colin Wu, citing his own sources.
There's still more hole for those using Binance to withdraw their crypto asset off the exchange, today they are laying off their staffs and next you will hear is that they have close down.
- The world's largest cryptocurrency exchange, Binance, has lost a quarter of its market share in the past three months as a U.S. regulator prosecutes it for allegedly violating U.S. federal laws. In February, New York regulators shut down Binance-branded Stablecoin issuance.
When there's more pressure on Binance, it may ended up getting banned, bankrupt or face more accusable challenges from the government, in view of these, many investors were already taking their asset off the exchange to their personal wallet, the earlier the better.