- In your opinion, is this a consequence of increased pressure on China by the U.S.?
IDK and I do not think so, Because first of all Binance and Coinbase, none of them is chinese company so why will USA put pressure on these companies if they have no direct link to China. As stated in the following article:
These hugely successful companies came from China. But you’d never know That,
Binance, the world’s largest cryptocurrency exchange, doesn’t want to be called a Chinese company.
It was founded in Shanghai in 2017 but had to leave China just a few months later because of a major regulatory crackdown on the industry. Its origin story remains an albatross for the company, says CEO Changpeng Zhao, better known as CZ.
So, what other reason remains there to degrade the functionalities of both exchanges in USA? The only reason is both were not following the security acts.
- What will the problems of Binance lead to for crypto market and crypto users?
I do not think Binance will lead crypto to disaster or any severe kind of problem because we read much news about how much money was outflow from Binance and Coinbase when the news breakout but we should also think where that money is going. That money is going here:
According to aggregated data from CoinGecko, total daily trading volumes on Uniswap v3 (Ethereum), Uniswap v3 (Arbitrum) and PancakeSwap v3 (BSC) — which account for 53% of the total DEX trading volume in the last 24 hours — increased by more than $792 million between June 5 and June 7.
SourceBut i do agree that, once these exchanges will be banned partially or fully, how citizens are going to buy BTC, But wait, that factor can also not effect the market, because there are many BTC ATMs in USA, as these exchanges are only going to halt there functionalities in the USA only so i do no think we should worry about it.