Topic: What will happen to Binance? (Read 835 times)

More trouble,.... possible insider trading
https://twitter.com/GoldTelegraph_/status/1438984606624198662

They are already big and its impossible that they wouldnt really make use of their resources or funds on not to resolve out such issue even though it might end up on some changes but they would still continue

on giving out their services here on crypto community.It do really sucks that regulation is something that cant really be avoided specially if you are already getting big and known as a business.

Asking on what would happen? It will really vary or depend on CZ on how he would handle out the entire company or giving out those actions.

They all have the resources, with how successful binance now money is no longer a problem for CZ and his team, they can use all this money to protect their business and to go out clean with every issue that's been thrown to them.

I see your point and if it's needed for binance to comply with that, removing Margin and Future trading is not hard for them.

It's more important to let crypto traders to continue using their services. Trust coming from investors is being established.
it's a long-term business that CZ will take care not to let anything bad happens.

Thanks to a wave of disgruntled customers and enthusiastic regulators, Binance has been garnering all the wrong types of attention over the past 24 months. Around the same time, German watchdog BaFin issued a warning to the exchange for offering securities-tracking digital tokens without publishing an investor prospectus.

I am well aware what kind of issues Binance management is facing nowadays but I fully trust their skills to handle such legal  issues and eventually come out clean. The main issue is  leverage and future trading which is major cause of concern for Regulatory authorizes in many countries, I think in the worst case Margin and future trading might be banned but spot trading trading will continue as usual. I never attempt to involve in future trading because it is very high risk and only few win and majority loses.

I'm sure Binance will do whatever it takes to meet the US government's requirements. Slowly, all governments will move towards greater regulation of the cryptocurrency exchanges. I am sure that in a few years all exchanges will have to undergo full verification and what is happening with Coinbase and Binance (IPO) will have to be done by every exchange that wants to operate in the US.

Binance to halt offering some products in Singapore after MAS warning
https://www.straitstimes.com/business/banking/binance-to-halt-singapore-products-after-central-bank-warning

They're now thinking about an IPO for their US market.

https://www.reuters.com/technology/binance-founder-changpeng-zhao-says-its-us-crypto-exchange-arm-targets-ipo-three-2021-09-02/

And it stated just what Coinbase did, they'll also do the same. This is where the KYC is going but a hack, I think they're responsible for any security issue that will happen to them again.

South Africa jumping on the bandwagon
https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20%20FSCA%20warns%20the%20public%20against%20BINANCE%20GROUP%203%20September%202021.pdf?csf=1&e=GWsM94

This will have effect in short period but eventually as people will realized how worth binance to be a exchange for us? we will comply to what they wanted us to do for best and safe outcome.
In time for sure those exchange will operate with KYC also because this is what the government wanted .
from the very beginning  I know this will come .

Almost all major exchanges implement KYC because this is a rule that must be enforced maybe due to regional regulations so this will be mandatory someday and all will use this system, we know Kucoin still has not implemented KYC but there are withdrawal limits there so this will not cause a big problem because tx is still limited, what is worried about is money laundering or other abuse.

But for me KYC will be important on a platform in the future and we have seen this in various small things that KYC has been implemented.
But that's how each one evaluates.

Time will tell and we arent blind on seeing on what would be the effect of this fully KYC integration towards the platform which that unverified limits which been most people been liking off with this platform will might
have lost their interest on using the platform.

Considering out that there are some platforms out there that do offer limits of unverified accounts like Kucoin which i wont really be surprised off, if one day there would be some influx of users
on that platform.

We cant really make any judgement yet but we can already presume on things that might happen this time.

Binance is now brining the KYC for the users compulsorily so this could be a point where we need to see how many users leave the platform as not many are comfortable to share the KYC with any of the sites. In coming time will need to check the impact it could have on binance site.

More issues on top of facing homelessness
SEC has now confirmed that #Binance is under investigation by the Federal Government
https://twitter.com/CryptoWhale/status/1429819156052983816

Anyone knows who made the allegations?
https://twitter.com/binance/status/1429848224215355394

Don't be a paranoid mate , Mt'gox case will never happen again in binance form, people now are much learned and will never let their Money died back again in one of the biggest scam happened in crypto world.
I trust binance and will use the exchange to the extent .

the price of BNB even broke $500 and i also didn't face any problems with their exchange, but you have to keep in mind that if there are lawsuits against Binance and they win, we could see it fall down, even though it seems that it can't happen, but maybe something like what happened to XRP happens to Binance, but the lawsuit against binance  succeed, with XRP example only the news about the lawsuit made it crash, so imagine what could happen to Binance if a crazy lawsuit was against them, most likely won't happen but you have to at least consider the possibility.

DEX is much always preferred but we cant really deny nor ignore that once we do deal with fiat/crypto transactions then we would really be needing up centralized exchangers in regards into their service.
Trying to look at with the volume or liquidity then theres no doubt that it do shows on how important it is here on this market and its undeniable and its expected that these platforms would really be
experiencing some squeeze up came from the government as they do gain more attention or popularity since they do know that it is dealing with crypto then expect that these kind of
treatment is somewhat kind an obvious stuff.

Not your key not your money but people still need exchange to trade, no way anyone will keep their assets in their wallet forever, besides this, there are many day traders around, how will they be able to trade if they have to move money around every minutes of their trading, if dex where so great to trade nobody will even take a look at the likes of binance or cex, however hard we try, exchange is very necessary and an important factor that can not do without.

A group of international traders filed a lawsuit against the Binance exchange.
Six traders from Ukraine, Australia, France and the United States plus whatever many that will follow.
To participate in a class action lawsuit, you need to apply on Liti Capital's official website, at Liticapital.com/binanceclaim/, fill out the form at Liticapital.com/binanceclaim/sign-up/ you will be contacted.
This thing is a disaster in the making.

A failing exchange has nothing to do investments. Options to trade from one wallet have been around for long time.
Same story as always, Not your keys not your coins.

If Binace really fails with the legal papers, it will not be just FTX but will entail more serious consequences to the point of losing confidence in essential investment needs.  I believe it is time for Defi and decentralization to emerge to replace what is inherently ringing at the moment. Lol

That's the dark side of the world of journalism, not all media provide correct information. We have to filter it ourselves, because sometimes some
media are controlled by the government. We all know that many countries still don't accept crypto, they think crypto can be a threat to the old bank
system that is running today. So some countries direct the media to provide information that supports the government's opinion, which says
crypto is widely used for illegal activities. Including Binance which is the largest exchange to be targeted for dropping, but I believe Binance is aware of
the dangers they will face. And with CZ's experience as a Binance owner who has been in the crypto world for a long time,  he can definitely
overcome every problem that Binance will face.

From the website address itself, I conclude that it is not objective service, so I am not surprised by the content of this article. I doubt that even half of this text is true.
If even some of this information is true, Binance is too big a company not to not resolve these problems.
If any regulatory authorities actually create difficulties, it is enough for Binance to improve its regulations and the case should be closed. New employees can also be hired easily.
Besides, MT.Gox was hacked, not closed. In my opinion, Binance is safe.

We certainly need that DEXs begin to take an important part of the market share of those that want to trade the markets, so far I have tried several DEXs and they can get the job done but they will do not offer all the things that you can do in a regular exchange which is why they are not as popular.

But sooner or later they will and that is when we could begin to see a migration from a great deal of the retail traders to those exchanges as the majority do not want to go through KYC and having to report every single transaction they make to every single government entity that asks for that it.

Not looking good
In liquidation status and apparently removed from the registry. The entire management team has resigned. The company is not in good standing and does not qualify
https://scambinance.com/investigations/186-binance-holdings-limited-cayman-islands-all-management-resigned-company-in-liquidation.html

I do wonder if most of internet media right now is mainly consists of reporters for hire. What I mean is that they were paid to write scathing articles against cryptocurrency and also the different companies and exchanges that are related to it like Binance and Coinbase. There are monied person out there that is hell bent in destroying Bitcoin, Cryptocurrency, and the Blockchain technology in general. We will never know how this will play out but I think Binance should be aware of that and will do its best to survive.

The resignation by CEO of binance US could be caused by some reasons. Think about that, when there was someone who has become CEO in a big company and why does he need to resign from his position? It's not only him but FTX was also doing the same thing as buyback the FTX shares that owned by the binance exchange site.
That could be a signal for something to happen. It seems like the prediction about the problem by binance with the regulatory approval will become the real story

This reminds me of our good old friend "Big Vern" from Cryptsy back in the early days. The exchange was running well, yet it disappeared out of a sudden and Big Vern even left the country I believe. I was just trying to google search what actually happened to him, but can't find anything. The reason I bring this up is because I was about to say that I can't imagine CZ doing a rug pull as he is a global celebrity so to say. Most of the people who are deeply involved with crypto might detect him somewhere. How would he hide as a billionaire? That seems impossible to me unless he is alright with living like a homeless or on an island where you get fucking bored after a while even with billions.

I don't think anything will happen to Binance. Binance is a strong exchange. Yes, I think Binance should work patiently and patiently, not out of warmth. Good and bad times are coming upon everyone. This bad time of Binance will also go away. I hope that Binance will know what these things will be in the future and what will be the preparation for it.

And from which country would the operate from?
If a place like the Cayman Islands is not interested in your business, that means serious trouble
I think you commenting whitout even knowing what the thread is all about

I don't think anything will happen to Binance it will contnue operating as Leading world exchange but its legal team who i believe are very strong will work with local Regulatory authority to be compliant with regulations. Binance has huge contribution towards development of crypto industry and its IT team has done wonderful job to contnousaly  introducing  new products for traders and investors as well for creating awaeness about crypto worldwide.

If Binance really became weak, then CZ would not have spoken openly with such legal regulations. Otherwise, perhaps defi platforms would be a good antidote to those signals. Example: Sovryn - it's good to be able to start. After all I don't see how serious it is. They will open good negotiations.

Lol, I created the same topic on local Indonesia, and it seems people are still optimistic about Binance. Most users are not here when Liberty Reserve and Mt. Gox closed, so it's understandable Binance closure seems impossible from their perspective.

Anyway, as much as I enjoy converting my coins there, I don't have coins in my Binance wallet in case of a sudden shut down. Remember the mantra, "not your keys, not your coins."

With the growing contradictions related to binance us, perhaps it will be really difficult for Binance to continue to become the No. 1 exchange. There are large communities that are coming to support FTX if it does not quickly improve the situation.  In this scenario, Binance could be overtaken by FTX for an exchange's reputation.  I exclude the possibility of improvement of BSC

Regulatory issues. Nothing very "serious". All problems stated above can be solved by gaining proper license and following the current laws of the country where Binance wants to provide their services. The only issue with this is they will probably be forced to do KYC on each and every users. But doesn't matter, their no KYC requirement is bullshit.
I have seen posts on reddit where users were flagged and had to complete KYC even though they haven't reached their daily withdrawal limit or did anything suspicious. Has been happening more lately. So I don't think VPN is going to help anyone if they get flagged for KYC.

Its not about the articles, been edited after.
Its all about the opening video and the fact that a homeless exchange can not exist function operate.
With that much heat around it which country will deal with it and have no reward

Most of these articles have lost their relevance.
It is always easier for a large exchange to negotiate with regulators in different countries, so that the exchange will continue to work.
Even if the exchange is blocked somewhere, users can easily use its services through VPN and other services.

This is the point. CZ wants to avoid the regulation instead of facing it and make binance to be compliant with the whole of regulation in the various countries.
That means if CZ was not having a good knowledge to deal with the regulation. Binance has already entered as the major exchange site with so many expansions.
Binance must build a team that was focusing on the regulation.

There’s no doubt about being the best with Binance, but those are not just simple issues, Binance have to solve some of them and answer all those allegations to prevent bigger problems in the future.

Binance is still vulnerable to this kind of problems, they’d better solve it before its too late. Right now, Binance is still growing despite of that problems, if the public knows more about these, they may start to panic.

binanc still be best exchanges today or in future, at this moment they have best security system and highest trading volume. there  is no exchanges that have serives as best as binance have. even binance CEO want to step down from position if someday with strong regulation knowledge could replace him.

We already have a lot of dex maybe this is a sign of big adoption of dex will happen???
I personally think that Binance will be able to overcome all of this, all that the country needs is fair regulation for both of them.

having other alterative in case Binance unable to win those cases, but for sure there are ways that CZ considering and eyeing to make sure that his business will continue.

A matter of legal consent and most of the time it takes more money and time to roll and it means that the business can still facilitate.

Worse case, Binance holders are the one that will collapse bringing this coin to uncertain place. But again, the market will continue
even the top exchange will take down after all those cases / regulations are unable to win in the legal way.

If an exit scam or hack on exchange occurs, it is completely independent of us. Nothing will ever be too big to fail.
I don't think anything bad will happen to Binance, but it's always better to be careful and only keep the minimum amounts of money you only need to trade in the exchange.

What do you mean under the word “collapse”? Being hacker or performes exit scam? I think after Mt.Gox, exchange can not simply disapper (I’m not speaking simple exchange, but about major exchange). People wont let this exit scam happen. They will find every responsible person and punish them. Binance will simply turn into fully centralized exchange and that is it.

all these listed countries try to put a spoke in the wheel at binance for one reason only to be able to squeeze higher taxes, revenues from the exchange, fortunately the main legal office of binance is at the Cayman Islands, Mahé (Seychelles) so even if it should ( absurdly) losing some branches in Europe and around the world it could continue to operate safely on the market

Binance is a big corporation. Their revenue from their service is quite high so they will settle things up. I think it's just those dumpers who want to create panic in the market and dump it so that they can buy cheap again. Their china fud didn't work well so now they trying to create a negative impact on binance because it has the largest trading volume in the market.

That is what it will save the market in the case binance goes down, back then the dominance of Mt Gox was monstrous with no exchange even coming close, so when it went down the crash that happened was massive.

Right now even if binance is way bigger than Mt Gox ever was at the same time there are many exchanges out there that at least can compete with it so in the worst-case scenario the market should not crash as hard as it did back then, but obviously I expect those holding BNB to panic sell and lose a fortune in the process.

The weird thing is, it is all about the legality of it and not something about being a scam website, that is the interesting part. Mt.gox 2.0 loading would mean that there needs to be a problem within binance itself, but I am reading stuff and it is mostly about not following the rules of a certain state, and how is that a problem for binance, it is obviously problem of a nation/city have with binance, those are very different things.

I would understand "I can't withdraw" as a huge deal but "ontario requires more laws to comply" is not something binance needs to care about. If they feel so strongly about it then Ontario crypto citizens should contact their representatives. Which is why there is absolutely nothing that we should be worried about regarding Binance, they are doing fine and they will keep doing fine for a very long time as well.

The management of the exchange site to the customer doesn't matter a lot when it comes to the regulation. The government wanna try to prevent bitcoin to expand its service due to the various reasons.
In my opinion and it's not clear whether binance has been making a deal with all of them or not to get the license.
that's why there are bunch bad news came

They only KYC the large investors don't they? I know a lot of people using it for years now without ever having to pass any kind of KYC procedure, nothing. I thought that that is a question of the limits you are willing to trade in a certain time interval. Anyway, they always provided a good and reliable service, essentially no downtime and very quick matching engine with no slippage. Some exchanges are so brutally slow even when you just open the website.

It seems most have not watched opening video. A homeless exchange can't function. Clock is ticking.....

Someone apparently bothers binance, so they want to hit the reputation of the exchange, I'm sure that sooner or later CZ will solve all the issues with regulation, for this he has everything.

What I really think about this is basically what the general public, the big corporations, and the financial sector thinks about Bitcoin and cryptocurrency in general - with utmost disgust and hatred for a technology that is alien to them and what they perceive as a big competitor to the financial sector. I think this is not just for Binance, but for any big company that handles cryptocurrency and that is poised to be a threat to the fiat cartel. Binance will be able to make it through. No doomsday prophet will force millions to suddenly switch from Binance to another exchange.

All of problems must be solved. It can't be avoided. Binance will never face this problem if it's being compliants with all of the regulations on the countries that already used to expand its service. This is the main problem. Binance just like a threat for the regulators if it's didn't wanna get licensed. BTW CZ was looking for someone that expert in the regulatory compliant.

Regardless of how various countries monitor him or warn him, I think Binance is currently at its peak.
I firmly believe that what ultimately hinders Binance should be the demise of centralized products.

Here we go again , why people here could not stand not making any conspiracy over other site that making success?

OP you are bright enough to understand that you are only making issue here right\?

and also binance won't spend their popularity and bagging money in just ruining whay they have stablished for years.

Mt.gox is a dead case and surely will never happen again.

All this clearly does not benefit binance but i think all this happens due to the fact that they are large enough and governments are simply beginning to be afraid of them. I think everything will be fine when the regulatory framework is formed because binance is ready to work with government agencies. At least in my country this is happening now.

I can’t tell what will happen to Binance in future, but I’ve also been seeing a lot of these news about it, though some of them were due to some of those countries banning cryptocurrencies or something like that, like in the case of UK and Nigeria, so the company had to discontinue their services there. Then other news about them, like the one of data distribution in Russia, etc. That’s a totally different case and I hope that they really get to settle it. Some of these countries has already started banning them.

Although in some areas where they were banned they have continued to function there as a P2P exchange, so they are not like fully out from those places.

If you think Binance will end soon and you have balance on your account, you need to move it to another wallets or exchanges so when the time is comes, you are save and continue your trading. It is our responsibility to take care of our funds in any exchanges and not because of we think that the exchange breaking something that we do not know. The best thing you can do is moves all of your funds in any exchanges to private wallet or use hardware wallet so you have full control of your funds.

When binance is gone no more manipulation in crypto space and everything will go back to normal    perhaps coinbase, kucoin, houbi will now become a better option, all binance haters will look for a new line of attack,  there has been too much focus on binance lately that I fear soon something unpleasant will happen, if it ever result to that (I sincerely hope not) I will honestly miss the local bank access and the p2p aspect. But I hope cz and his team are able to mend the fence before things escalate.

Binance exchange may be having regulatory issues all over the place,  but binance is one of the most stable and reliable centralized Cryptocurrency exchange we have at this time.  If binance go down,  it will be catastrophic for entire Cryptocurrency market.  The fall out would be that other Cryptocurrency exchange may collapsed as well.

Why is it that only now-weird-weird-news appears-about Binance, is this something to bet on.

I believe this is pressure from the local government-about Binance, who knows-all governments are currently in a global financial crisis-pandemic-debt is piling up, brain spinning, Binance tax rules the best solution for a deteriorating Economic growth.

Stress Binance-to pay taxes to the country-debt paid off.

BSC has had a lot of issues with failed transactions, BSC scan going down, nodes that aren't synched etc. It's a real mess and it only has 21 validators, which I assume the majority of belong to CZ and his friends. Binance is undergoing a barrage of attacks from regulators in multiple countries and that is affecting the price of BNB and scaring people away from BSC to other chains like Polygon, Fantom, and NEAR. I still hold some CAKE, 0xMR, Alpaca, PRV on BSC but I'm not putting any more money on that chain until things settle down. In the meantime I began farming on Spookyswap on Fantom and on Ref Finance on NEAR protocol. Both have rewards that are comparable to farming CAKE.

Although I hate Binance for KYC, they did a good job in keeping up the volume of the exchange we've all made money through this exchange at some point. They were hacked once which they've also spent their own money to give back what is lost to the clients affected.

Binance I think will do all to comply with all the laws to get their feet back. They've built a good reputation for the exchange to become bigger, they can't just give up all because of these few countries choking them.

Banking problems and regulatory issues is one thing but with no headquarter location there is no exchange. period.
What the opening video is about. You cant run a exchange when homeless.

There are more to the ones you posted, their are other local deposits of funds that were halts by other countries and Nigeria was among that her Central Bank cease deposit of funds by Binance customers.
It's sad that they are all coming after Binance with what they have all grown within a short period of time but I also think they were also expecting it and it hasn't so far affected the growth of its utility tokens, bnb.
The competitive exchange will be happy with what has been going on with the exchange. 

Thanks for this very detailed information OP. I am fan of Binance and its really unfortunate that this exchange experiencing such difficulty. I maybe bias, but I believe this is a small problem for Binance as this major exchange are supported by a lot of entity evem though they got some issue like this.

But to be safe, of course we must moved some of our huge asset on out wallet to be safe. But I believe that an exchange like this wont be same like Mt.Gox as CZ did a lot of good stuff and help the crypto community in such way.

Absolutely right, though Binance is passing through most difficlt times of its history but it is too big to die and they will for sure survive this crysis. However, they will work to meet with regulation requirement of each country and eventually they will resume all their operations as they used to in the past. Binance has done immense service for crypto industry  and massive contribution for its adoption which cant not be undone easily.

I am not aware of these issues and I guess many of us here, there's too much at stake for Binance and for us as well, Binance is the number one exchange in the industry, and the majority of us here are trading there, besides the many products and platforms that they are using, I don't see a community now with Binance out of existence, I hope they can resolve these issues, we still need Binance, there's no good alternative for us.

FTX will but it will not so fast as binance consider FTX is fully compliant with the regulation. this exchange site didn't wanna put the risk by avoiding the regulation like what binance does it.
It may not bring any impact in the short term but it will become a big problem in long term. that's why CZ is announcing if he was looking for a new CEO.
He knows that if he will be dealing with bunch of regulations.

FTX is a good exchange and has also been widely used by everyone according to their respective needs, because in FTX there are also many features that are very helpful and can be very useful for people who like cryptocurrencies in general.

these countries where regulators are chasing binance are countries where if there were another exchange operating in these countries the result would be worse than binance, by that I mean that the problem is not in binance, the problem is in those regulators that are not they are being softer and are not facilitating the binance. if binance, which is one of the best exchanges, cannot please these countries, then the other exchanges that are below binance would not have a chance to please these countries.


probably binance will no longer be in these countries, that's all they can do

its be best choice for us , never safe our assets in exchanges wallet it have huge risk if someday our exchange platfrom banned or something else that make us could not do anything with our assets. better do this right now to prevent same case that happen previously.

i do agree , this exchanges was the best right now . they earn billions profits from operation and no reason to do this. i am believe all this only want take benefits from binance operation.

Binance will not leave the market, but these issues are indeed big and I’m hoping that Binance already working on this. They are too big to leave the market, they can’t hide as well because we know the team behind Binance. Though this kind of pressure from regulation can trigger them from stopping their operations, I wonder what would be the best solution for this one, I’m still confident with Binance they can survive this.

I'm not seeing a Mt. Gox incident here, it's not comparable as we have a lot of exchanges already. And I doubt that Binance will suddenly disappear. What I don't like though is that they really gain a lot of power since their inception in 2017. And maybe that's what they are now in the hot seat with a lot of investigations from different crypto regulated bodies. But CZ is a businessman and probably just re-invent himself if the ecosystem if everything turns sour.

A platform like Binance has grown so much over the years, built their platform and/or exchange to stand out among others, implemented a lot of services which are beneficial to users like peer-to-peer transactions and so on, therefore I think for a platform whose team have put in a lot of efforts, time and resources, they will only keep moving forward while looking for better ways to remedy any issues coming up. The truth is, most big cooperations today once in a while face issues, but their ability to overcome is what makes them strong, Binance has come to far to fail, and the team are not willing to let all their efforts go to waste and that's the truth.
All these are coming up after the massive bull run, one might even ask why, they are done with fudding BTC now back to Binance since it is the biggest exchange today.
Nevertheless, it has been said time without number that keeping funds on centralized exchanges is not the best way, this is one of the first things to learn nonetheless, so therefore let people imbibe the habit of keeping funds outside exchanges, but as for Binance, it is going nowhere in my opinion and nothing will happen to it.

I updated now as i looked into the situation a bit more

I don't really think that binance is planning a rugpull i mean they are making billions of profit every year with their exchange so why would they even need to do a rugpull. I don't say though that the tweets that are shown in the video are not true or that this did not happen but i also think that it is pretty normal that you will always find a handful or maybe even a few hundreds of users that had a bad experience or even experienced some kind of scams if you have millions of users, but this does not necessarily mean that the exchange itself is a scam. It could have just been 1 employee of binance that was doing shady things or just a simple mistake.

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