Post
Topic
Board Bitcoin Discussion
Re: CZ officially bids goodbye to Binance. Will Binance Crash or still stand Strong?
by
davis196
on 22/11/2023, 06:24:03 UTC
Binance has really made a reputable name and laid an outstanding legacy through the years as the best exchange that has earned global trust. Everyone feels safe with Binance. Just yesterday,  CZ the CEO and Binance Founder Pleads Guilty to Violating Money Laundering Rules and agrees to pay a $50 Miliion Fine and to also step down as the CEO  as part of his guilty plea. And that same yesterday cZ officially resigned and bid goodbye to his office as the CEO of Binance, Although still making himself accessible to the company. It might also interest us to know that Binance itself was also found guilty and charged as well, and also agreed to pay a $4.3 Billion fine and restitution to the government. So my Question is, with all the tension on ground, is Binance going to survive this or would this be the end of Binance even after naming a new CEO, since the news surfaced online, people has been repeatedly taking out their funds from the exchange with the fear of the exchange crashing. So what's going to be the impact of this tragedy on Binance??

Why do you even care about Binance? Centralized crypto exchanges should become a thing from the past. We don't need them anymore.
There's no centralized crypto exchange that hasn't been involved into illegal stuff like money laundering, scamming the customers, faking trading volumes, etc. I'm surprised that Binance didn't turn into the new FTX(it might turn in the near future).
Every time Bitcoin is having a price pump something like this happens and the prices start going down. Centralized exchanges helped a lot in crypto adoption, but they are a burden for the crypto world.