Quote from: davis196 on Today at 06:24:03 AM

Quote from: Gormicsta on Today at 05:53:12 AM

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.

We cannot really afford to not care, once centralized exchanges are a thing of the past no one will care about them except those studying the history behind this market, but today the binance exchange is one of the most influential entities on this market, and whatever happens to it will have heavy repercussions on the market, and while so far the effect has been small when it comes to the market in general, BNB has been hit with a 10% correction, so it is likely many people using leverage have been liquidated at this point.