Topic: What will happen to Binance? - page 5. (Read 823 times)

You could at least give us some insight about it instead of posting a link of a 15min video.

But since I didn't see anything from the bitfinexed account in the first 10 seconds of the video I actually decided to watch it. I will post my opinion later. I see there are some fresh news.

edit:

I see you post the links on your seconds post.


You should have posted these in your OP.

The opening post video is about the headquarter situation not looking good
Here is India
https://www.financialwatchngr.com/2021/07/30/binance-may-face-investigation-in-the-134-million-money-laundering-case-in-india/

Big law suit risk in Italy
https://en.cryptonomist.ch/2021/07/06/binance-lawsuit-from-italy/

Barclays Halts Transfer of Funds to Binance Exchange
https://beincrypto.com/barclays-halts-transfer-funds-binance-exchange/

HSBC UK is blocking customers from making payments to Binance
https://www.msn.com/en-us/money/companies/hsbc-uk-is-blocking-customers-from-making-payments-to-binance-report-says/ar-AAMTPHt

@BinanceUS's now-former CEO @BrianBrooksUS has abruptly resigned from the exchange mere months after he joined.
https://twitter.com/CoinDesk/status/1423730217357660160

Interesting information you've got here. I was aware of a bit of trouble but didn't know so many countries are getting Binance a bit into trouble. I was of the opinion that Binance with its impressive cash flow would definitely have taken care of all the legal and regulator stuff. This surprises me. Maybe they willingly accept some trouble down the road for as long they could make billions until they get banned or fined. They should definitely have enough money to get things sorted out. I am a bit puzzled by this to be honest.

FTX? You mean the blockfolio owners? Well you can never tell yet because money is always the reason why many do the unexpected, if FTX becomes as big as binance they will open arms to new projects as well just to get more money

Thats a good question. Since november i've been slowly migrating my funds to FTX, however, i don't believe it will be that bad.
And also, keep in mind FTX (which imho is the runner up for best exchange) doesn't support all shitcoins like Binance does

Binance is not the entity you want to trust and I hope it doesn't end up as badly as MtGox.
The good thing is that they are constantly trying to improve themselves and despite being pursued by the authorities, they are still making good progress.
I think that if there is scrutiny and strictness from the authorities, they will find a lot of waste and compensation, but I think that the work of Binance is profitable and professional, and therefore things will not be as bad as MtGox.

These are local companies that partnered or operating in the name of Binance global right? CZ and his team tried to test the waters with these countries and they were slapped by each country's regulators. They will likely try to operate again in the future following the right process just like what they did with Binance US.

Cayman Islands is only the tip of the iceberg

Thailand filed criminal complaint
https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=9017

Japan’s Financial Services Agency warning Binance operating with no license
https://www.fsa.go.jp/policy/virtual_currency02/Binance2_keikokushilyo.pdf

Binance is no longer open for business in Canada’s most populous province
https://www.coindesk.com/binance-pulls-out-of-ontario-following-actions-against-other-crypto-exchanges

Singapore’s central bank, the Monetary Authority is looking into it
https://www.bloomberg.com/news/articles/2021-07-01/singapore-to-follow-up-with-binance-in-wake-of-global-crackdown?sref=3REHEaVI

Consumer warning from UK’s Financial Conduct Authority
https://www.fca.org.uk/news/news-stories/consumer-warning-binance-markets-limited-and-binance-group

Moneylaundering in India
https://www.financialwatchngr.com/2021/07/30/binance-may-face-investigation-in-the-134-million-money-laundering-case-in-india/

Big law suit risk in Italy
https://en.cryptonomist.ch/2021/07/06/binance-lawsuit-from-italy/

Under investigation by the US Department of Justice and the Internal Revenue Service
Malaysia’s Securities Commission stamps Binance a unauthorised entitiy
BaFin Germany’s financial regulator warned Binace maybe fined
Kicked out of Hong Kong and Malta
China not so friendly at all

This is just another conspiracy theory to me but take it however you want it. I'm not going to contest the registration or other stuffs that deals with legal papers since they surely have the best lawyers available at their disposal. Their shady activities in the past may be exposed later on but a rug pull is unlikely. Binance is also trying to move for mass adoption with their mainstream products such as cards and most likely making amends with regulators.

Is MtGox 2.0 incoming?
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Will the exchage be homeless? https://youtu.be/HufsDhSm834
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Edit:

Thailand filed criminal complaint
https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=9017

Japan’s Financial Services Agency warning Binance operating with no license
https://www.fsa.go.jp/policy/virtual_currency02/Binance2_keikokushilyo.pdf

Binance is no longer open for business in Canada’s most populous province
https://www.coindesk.com/binance-pulls-out-of-ontario-following-actions-against-other-crypto-exchanges

Singapore’s central bank, the Monetary Authority is looking into it
https://www.bloomberg.com/news/articles/2021-07-01/singapore-to-follow-up-with-binance-in-wake-of-global-crackdown?sref=3REHEaVI

Consumer warning from UK’s Financial Conduct Authority
https://www.fca.org.uk/news/news-stories/consumer-warning-binance-markets-limited-and-binance-group

Money laundering in India
https://www.financialwatchngr.com/2021/07/30/binance-may-face-investigation-in-the-134-million-money-laundering-case-in-india/

Cryptocurrency exchange Binance is also banned in Italy
https://tokensboss.com/cryptocurrency-exchange-binance-is-also-banned-in-italy/

Malta
https://bitcoinist.com/binance-in-new-trouble-charity-in-malta-may-face-legal-issues/

Binance now faces a regulatory warning in Lithuania for offering derivatives services.
https://coinnounce.com/binance-faces-a-regulatory-warning-in-lithuania/

Poland’s UKNF Issues A Warning Against Binance Markets
https://www.brokersview.com/news/1781

Russia Blacklists Binance Over Data Distribution
https://www.pymnts.com/blockchain/bitcoin/2020/bitcoin-daily-russia-blacklists-binance-over-data-distribution-china-says-illegal-gambling-uses-crypto-move-funds-out-country/

Netherlands
https://thenewscrypto.com/binance-shuts-down-in-germany-italy-and-the-netherlands/

Binance Not Authorized To Operate In Cayman Islands
https://decrypt.co/75042/binance-not-authorised-to-operate-in-cayman-islands

Malaysia cease-and-desist orders against five entities: Binance Holdings Limited, Zhao Changpeng, CEO of Binance, Binance Digital Limited, Binance UAB, and Binance Asia Services. Binance a unauthorised entitiy
https://www.fxempire.com/forecasts/article/are-binances-regulatory-struggles-just-starting-binance-now-banned-in-malaysia-760167

Cryptoexchange Binance to stop Hong Kong users trading derivatives
https://www.reuters.com/technology/cryptoexchange-binance-stop-hong-kong-users-trading-derivatives-2021-08-06/

Binance may have violated securities rules by allowing token trading of some US stocks, Germany's financial watchdog (BaFin) says
https://www.businessinsider.in/stock-market/news/binance-may-have-violated-securities-rules-by-allowing-token-trading-of-some-us-stocks-germanys-financial-watchdog-says/articleshow/82312381.cms


Under investigation by the US Department of Justice and the Internal Revenue Service
China

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Barclays Halts Transfer of Funds to Binance Exchange
https://beincrypto.com/barclays-halts-transfer-funds-binance-exchange/

HSBC UK is blocking customers from making payments to Binance
https://www.msn.com/en-us/money/companies/hsbc-uk-is-blocking-customers-from-making-payments-to-binance-report-says/ar-AAMTPHt

South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects Allegations
https://news.bitcoin.com/south-africa-bank-blocks-clients-from-buying-crypto-on-binance-exchange-rejects-allegations/

Binance Suspends Deposits in Nigeria Following Central Bank Directive
https://worldwidecrypto.net/index.php/2021/02/06/binance-suspends-deposits-in-nigeria-following-central-bank-directive/

Lexia is taking legal action against Binance
https://cryptoguardian.net/news/class-action-lawsuit-against-binance-targets-exchanges-futures-trading/


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@BinanceUS's now-former CEO @BrianBrooksUS has abruptly resigned from the exchange mere months after he joined.
https://twitter.com/CoinDesk/status/1423730217357660160