Topic: Binance crisis - how will it affect the crypto market? - page 8. (Read 1295 times)

In the light  of current lawsuit brought by SEC against Binance, it to important to recognize that these allegation of violating the rules are serious. Consequently, it would be highly risk to invest in BNB coin at this stage. As resolution of this dispute remains uncertain and it might take long time before final verdict reached. Therefore, individuals welling to buy BNB, coin should carefully evaluate their risk tolerance level, as well as safeguard your investment by using stop-loss.

I don't know: I think that most users won't move a finger. But I hope the latest news (summarised in the OP) help uneducated people be aware about the risks they are assuming because of holding their funds in a custodial wallet property of a centralised exchange.

With time, more and more people will end up being aware, but it's clear that things grind slowly in this regard, for the benefit of giants like the aforementioned.

I compare these sort of incidences with the start of new era for Bitcoin. They give shocks to the Bitcoin economy, bring down the prices and creates some sort of FUD. However, it forms amazing opportunity for the new investors and existing one who has missed the discounted purchases. I think it’s time to jump in and buy more.

However, this is time when we should not be holding our Bitcoins on the exchangers anymore. It does not matter if worlds biggest exchange is falling apart or government ain’t giving shit about it. All we have to do it create strong resistance through Bitcoin HODLING in our WALLETS.

We are talking so far about legal violations of US SEC and not the international global Binance. Users who lost their money or the possibility of confiscating the platform have not been reported. All that ends up is compliance with legislation or more regulatory restrictions or fines will be imposed. Therefore, I do not see it as negative news that you should interact with. With negative news.

Do not forget that during the past months, cryptocurrencies began to interact positively with all the regulatory news, we may see a rise in the price as more regulatory restrictions mean that it has become difficult for binance to escape with clients’ money or manipulate prices as more eyes will monitor it.

Charles Hoskinson (founder and chief strategist of the cryptocurrency project Ada (Cardano)) expressed his opinion on the reasons for the SEC attack on the Binance cryptocurrency exchange.  He believes that those in power (one of the instruments of influence of which is precisely the SEC) consider cryptocurrencies to be absolutely unnecessary and harmful financial assets.  

Cryptocurrencies are the last obstacle on the way to the introduction of digital currencies of central banks (which, in turn, aims to build a digital concentration camp for all Humanity).  

This opinion of Charles Hoskinson is confirmed by the recent words of the head of the SEC, Gary Gensler.  He stated that he sees no point in the existence of cryptocurrencies, since there are already such fiat currencies as the US dollar, euro, Japanese yen, etc.

And they already exist in digital form.... This, in my opinion, is a direct allusion to CBDC.

I see more money is pouring into DEX, maybe people are worried about the news these days related to SEC and Binance US as well as CoinBase. For me, the fact that this information has affected everyone's general investment sentiment, after a series of rather gloomy days, we continue to come with unhappy information from quite influential parties in this field. Although the price is currently recovering a bit, but I think the controversy will continue to unfold when it is really resolved.

The question is not whether he was Chinese or not. The question is specifically about the business that finances the Chinese budget, or is directly controlled by the Chinese government. Let's not hide it, but now there is an active confrontation between the U.S. and China, plus the state (China) is increasingly, by soft or hard methods, gaining influence or control, yesterday's private Chinese companies...
The second problem - the U.S. is trying to regulate the crypto market by law (there are many reasons), while China, on the one hand, "clamps down" on the use of cryptocurrency for local population, but tries to use cryptocurrencies for external "consumers", and first of all for countries that are under sanctions or managed by "not the best guys".

I can tell you one thing, it does not grow confidence amongst potential investors, when the government goes after one of the biggest centralized Crypto exchanges, but we know these centralized services are easy targets for governments to attack.

This event is just a new warning to people who rely on these centralized services and a good wake up call for them to take control of their own Private keys. (Not your keys, not your coins) 

It's absolutely riveting to discuss the recent issues that Binance, the behemoth of cryptocurrency exchanges, has encountered. The internal restructuring and layoffs are certainly disconcerting, yet not entirely surprising given the tumultuous crypto landscape. Now, do we consider this a result of US pressure on China? I think we might be oversimplifying the issue if we do so.

The legal troubles Binance is facing are largely a product of their own making - they have allegedly breached the US federal laws. This isn't about geopolitics; it's about business ethics and regulatory compliance.

Should Binance's missteps cause us to fear for the crypto market as a whole? Possibly, but only in the short term. A market shakeup could indeed unsettle crypto users, especially those heavily reliant on Binance. However, the crypto space is adaptive. Alternative exchanges may rise, fostering healthy competition and potentially leading to a more resilient market.

While the allegations of violating the rules are quite serious and weighty against Binance and its founder CZ (Changpeng Zhao). Nevertheless, it is important to recognize that Binance is a leading crypto currencies exchange with robust and professional legal team. They will certainly take all necessary measures to defend their position effectively in the court and do all what they can to survive this crisis. I am optimistic that the outcome of this lawsuit will be in favor of Binance , as potential closure of their business in USA will have far reaching consequences, not only Binance but  for the entire crypto currencies market.

It is true that the SEC lawsuit against Binance has had an impact on the crypto space. Anyhow, the allegations against Binance and CEO CZ remain unproven. Therefore, the principle of presumption of innocence must be maintained until a legal process is completed and a verdict is rendered. Although the lawsuit against the major players in the crypto industry could have a short-term impact on market sentiment and confidence, Leads to increased volatility and caution among market participants. But as the legal process unfolds, it will likely become clearer about the allegations and their potential impact on Binance and the broader crypto market.

I wouldn't be surprise its one side of a story as there is a growing tension between the 2 superpower from tech war, economic war and the build up on South China Sea.

We already felt the problem over night because of the prices. But this could just be for the media though. Binance being targetted for a long time has already seen this coming I pressume.

some people take this moment to buy BNB because they are very good at taking advantage of the news. well unfortunately this is just momentum, for those who have bought but they hold it for a long time I think they will actually spend their own assets. As for how Binance will go forward, I don't think I can say for sure whether Binance will lose to this rumor or will actually make Binance rise in the future.

As they say, "there is no smoke without fire. And there have already been many claims to Binance, from attempts not to comply with U.S. law, to assistance in financing the Russians associated with international terrorism and the unleashed war in Ukraine. Seysa has made additional accusations, and clearly not from nothing. China is trying hard to show itself as the "second pole of the world", which will not do the bidding of the "first pole of the world. Especially in such a delicate subject as the alternative financial system, i.e. cryptocurrencies. How this will end is not entirely clear. For example, I am worried about the risk of possible blocking of the exchange and freezing of funds stored there, with the subsequent multi-year process of proving that my funds are "clean before the law". And this variant of the situation is not excluded...

I may not or may not be able to answer your question directly but would like to note some few things from the allegations. We have all read the news first it was Binance and today Coinbase. I see this as witch-hunting and a precursor to crypto regulation. Did Binance and Coinbase actually break the rules? I have yet to see any statement from them. If this is actually true then I am really pissed that they weren't so meticulous in learning and obeying the laws in other countries. There is no cause for alarm or any need to panic by the news, bitcoin, Binance and Coinbase will survive this.

It is impossible to anticipate the impact on the crypto market and consumers with precision. In the near term, unfavorable news surrounding a popular exchange such as Binance might contribute to a drop in market confidence and perhaps lead to market volatility. While Long-term, regulatory efforts and greater compliance procedures may result in beneficial developments for the cryptocurrency sector. However, the long-term impact on the crypto market and consumers will be determined by how the regulatory landscape evolves, Binance's measures to resolve the charges, and the responses of other industry participants.

The cryptocurrency market is a sensitive one and investors quickly react by such information.  The layoffs is surely a sign that business is either closing up or being restructured. The regulation in Canada that binance couldn't meet up with automatically means some workers would be relieved of duty since the service is not needed in Canada for now just with what happen in coinbase losing almost 900 employees. Laying off employees is reasonable but it will create understable panic and we have seen the effect on the market. Yesterday bitcoin lost more than $2,000.


These are very much heavy allegations that is capable of pulling the trust of binance of the rug. Investors confidence is required in  crypto exchange especially cex


I don't think this is about China. If binance have compromised then sec has all legal means to go after them to protect investors.

The effect of COVID-19 and the impact of Russian invasion of Ukraine had so much negative impact on most businesses. Most businesses had to downsize to cut costs. Apart from some leading pharmaceutical companies that made so much gain from the sales and distribution of vaccines and some Oil and Gas firms that benefited from the high price of crude and gas, many firms underperformed. Also, the introduction of artificial intelligence is changing the workspace. Some companies are laying off staff because these AI tools can replace humans. Laying off of workers is not a cardinal sign that Binance was facing business problems.


From the surface view of Binance, it looks more American than Chinese. It indeed has a high number of Chinese staff but most of the top executives are American and European. And it pays its tax in the US, which means it contributes financially to the economy of the US. Except the US is seeing what I am not and feels that Binance is having secret ties with China. It is also possible that the US government wants to promote more American exchanges to take some market shares from Binance.


We are already experiencing the impact of this court case. The result is always FUD which will affect the price of most cryptocurrencies. The sector will become volatile and this will discourage people from investing.

After all these years of observation, I would not be surprised that SEC receives commands from influential people in the USA who want to lower the rate and buy bitcoin.
Well, seriously: we have all just seen that because of such news, the price has fallen to 25,500 dollars. What prevents them, like Elon Musk, from throwing in such reasons for the depreciation of the main cryptocurrency?
But I am glad of such news because I have been wanting to buy around 20,000 dollars for a long time. It's not surprising if we see more negative news in the near future, which will continue to lower the bitcoin price rate.

Since we all know Binance to be largest cryptocurrency world exchange couple with its situation currently, people may like to take action by pulling out their investment and assets from that exchange people who are holding BNB, BUSD in Binance exchange are likely trading it to usdt as well as converting their bitcoin holdings to usdt Stablecoin to secure their investment. I think this could be the most reason why we are facing this bear market currently, to me I don't think this really calls for so much panicking.