Quote from: Silberman on Today at 07:10:31 AM

Quote from: Ultegra134 on September 27, 2023, 07:27:31 PM

Supposedly, the SEC and Binance came to an agreement, and it pretty much ended there. However, BNB still remains at pretty low levels, even though the market has started to perform a little better. In my opinion, Binance is yet to resolve its issues, which are increasing at an alarming rate; even SEPA and card deposits stopped for the Euro on September 25th, another blow for the European market this time. This is causing uncertainty for the exchange, which is reflecting on BNB. Thus, it's pretty easy to claim that trust in Binance and BNB has been dented, which is probably why its price remains quite low and hasn't shown much improvement since the lawsuit occurred.

This is to be expected, it can take a lifetime to create a good reputation and a few seconds to destroy it, Binance had being doing everything right, but as soon as a shade of doubt was thrown to it no one could really afford to ignore it, after all it is not as if a lot of time has passed since the collapse of the FTX exchange and people are still traumatized by such event, so I think binance is still going to suffer from that blow that it received, but as long as they keep doing things right then the price of BNB will eventually recover.

Well, I'm not going to claim that Binance's reputation was ruined, but it seriously took a hit with the lawsuit. The termination of SEPA and credit card deposits isn't helping either, as it's creating a sense of distrust and unreliability, while the recent lowering of the debit card rewards program annoyed a major group of their BNB holders. I trust the Binance exchange; I believe it's currently the best one on the market; however, the last few events have affected it to a significant degree. I'm hoping that they resolve their issues in the near future and that BNB recovers to its previous glory, as I'm currently at a loss.