Quote from: Cryptmuster on June 21, 2023, 07:22:55 AM

Quote from: CageMabok on June 21, 2023, 06:14:16 AM

I'm also quite sure that Binance has its own way of dealing with the problems they are facing because Binance is a very experienced exchange and is familiar with the SEC. So that Binance will also not sit idly by with the accusations thrown at them by the SEC so far and Binance is also still trying to resolve the problem this year until it is completely resolved. If you have been a Binance user for a while, you also don't have to worry about the problems faced by the exchange as long as you don't keep more assets on the exchange for a long period of time.

During such periods, it is better not to keep any funds on the exchange at all. It is clear that CZ will use all possible means to solve problems with regulators, but Binance has been actively cooperating with them before this incident, so this situation is not so simple and may take a long time to resolve.

The pressure on Binance began to be exerted for a long time before of this lawsuit and the exchange has been experiencing a very large outflow of funds for a very long time, which shows its resilience, but who knows how many more possible blows it will withstand. But as time has shown, this did not have any significant effect on the market, only minor local drawdowns, which recovered very quickly, so most likely CZ will continue to try to resolve these issues and keep the binance afloat.

To be more precise, the recent crisis is of Binance.us and not of global Binance, people are confusing and causing unnecessary panic. The SEC has jurisdiction only in the US territory, they don't have any jurisdiction outside of the US, so it's unlikely that Binance will have a problem with the SEC. But no matter which exchange, we should not put too much of our assets on it and should not put our trust in anyone, including CZ even though they are the largest exchange in the market today. Always using a non-custodial wallet is the safest solution.