Re: Binance crisis - how will it affect the crypto market?
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After all the disturbing news, the BNB rate has fallen quite a lot, nevertheless, I think that the Binance will cope with all the difficulties, and the bad news is just FUD that should not be perceived negatively. Now is the time to buy promising BNB tokens, the price of which has been testing the level of powerful support for about $ 240 for the third time. At the same time, I am not so afraid of problems with binance that I participate in the stake program from Maverick for Launchpad.
Moreover, yesterday there was news that Binance is successfully defending itself in court.
After all the disturbing news, the BNB rate has fallen quite a lot, nevertheless, I think that the Binance will cope with all the difficulties, and the bad news is just FUD that should not be perceived negatively. Now is the time to buy promising BNB tokens, the price of which has been testing the level of powerful support for about $ 240 for the third time. At the same time, I am not so afraid of problems with binance that I participate in the stake program from Maverick for Launchpad.
Moreover, yesterday there was news that Binance is successfully defending itself in court.
Exactly because Binance is today the largest and geographically the largest exchange, I created this topic to understand other people's opinions, and to assess the risks of further interaction with both Binance and BNB in particular. This problem is not about cryptocurrency bans. It is an issue of regulation, compliance with laws and commitments, and much more. Let's say - I am very pessimistic about the probability of Binas collapse, but with non-zero probability I allow the risks, a sharp restriction of its work all over the world. The SEC is a very significant organization, and it has strong influence outside the US.
I'm sure there wouldn't be any problems, well at most a small claim/world or a mini fine, if Binance didn't REPLACE the 2 commitments it made. Or rather, Binance pretended that "nominally we are fulfilling", but in fact did it only "on paper". These two commitments:
- Fulfilling the terms of service provision/control for US citizens (this is an internal US issue, and they have the right)
- Providing, or rather, the "through fingers" solution to help bypass sanctions, financing and assistance in the transit of funds for the representatives of the country, the recognized aggressor and terrorist.
In doing so, Binance tried to "turn on the fool" and pretend that they do not understand what they are violating and how
In a word - we are watching the development of events!
Yes, and here you can also add the news that Binance informally assists in registering residents on its exchange in countries where its presence is prohibited. You are right to say that we should always assume a non-zero probability that everything will go according to the worst scenario, I remember perfectly well the times when Poloniex and Bittrex were much more popular than Binance, but now CZ has definitely brought its exchange to the tops.
The BNB's course was not very well affected by the fact that Binance curtailed its activities in Cyprus. Nevertheless, the price of the token is still within the support level.
I hope that it will continue "Funds are Safu"