Topic: What will happen to binance if found guilty (Read 246 times)
There would be stress for sure but things won’t be on short notice. First SEC will audit binance briefly and then put up notices to binance office and then they can have chance to improve their services. Or on the other hand to pay the penalties if things are out of hand. They won’t be closing down the binance immediately since there are KYC verified users whose funds will be in the possession of binance. They will also have to recover or return it to the genuine users since it’s their money ideally. Hope so this never happens though.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
Well if binance is found guilt, same thing that happens to company that are found guilty of this types of things would definitely happen to them. Well I don’t know how badly this would affect BNB but I am sure it would receive a good chunk, and also credibility, many people would drop their bar of believe on binance which isn’t going to be good for the company, in general it won’t be a good thing for binance. 
...But to be on a safer side, the volume of BNB coins accumulated by a person in Binance, at this point should be reduced, because it’s likely that the price of the coin will be affected slightly by any negative outcome or verdict that doesn’t favor Binance.
Now we clearly see the reason for the decline in the BNB price in a bearish trend. Now it is very difficult to determine how much this decrease depends on the SEC's decision, since the price of all coins, not just BNB, is decreasing. That's when the market turns to growth, and the price of BNB continues to decline, then it will be possible to talk about the impact of the SEC investigation on the price of the coin.
This better don't go against binance because if it does, it will dump bnb like the luna case. This is a big challenge going on for the CEO. I'm sure with this heat, the twitter deal with Elon musk will take the backstage for now because an African and Nigerian proverb says you don't chase rat when your house is on fire.
The BNB coin had already fallen to around 270 price mark when the news bout SEC investigating Binance broke out. Even though they hover around 280-290 right now, I said it is still pretty bearish, won't be rock bottom as you said but... I think everyone should reduce the amount of BNB they're holding right now just to be safe. If it falls again since bearish or bad news about the SEC investigation, you can buy it back.
I think I kind of agree with your advice on this one, because in a judicial system of this nature, things tend to go unpredictable at times, periods like this and cases associated with fraud are never an easy one to come out from uncut, though nothing is completely impossible since it’s Binance we are talking about – the large exchange market there is.But to be on a safer side, the volume of BNB coins accumulated by a person in Binance, at this point should be reduced, because it’s likely that the price of the coin will be affected slightly by any negative outcome or verdict that doesn’t favor Binance.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
I'm not sure Binance did anything wrong, so later the SEC can't find anything there. Apart from that, issues like this have become commonplace for Binance. The reason is, before this problem arose, Binance had faced regulatory problems in the UK and Canada. FYI, one of the world's major media outlets, namely Reuters, is also interfering in Binance's current affairs. They reported that the Binance exchange was involved in a money laundering case carried out by the North Korean organization Lazarus.
However, if it turns out that Binance is found guilty in this matter. I'm sure there will be chaos in the crypto space, the trend will be negative and the price of BNB itself will drop drastically just like what the SEC did to LBRY.
The SEC again raises the question, as in the case of ripple, whether BNB is a security coin. Rather, he already considers this coin a security and, on this basis, makes claims against its leaders about the illegal cashing of securities for a large amount.
BNB is practically a slightly modified copy of ethereum, which the same SEC did not recognize as a security. It is not clear to me then how BNB can become a security.
I also believe that nothing serious can happen to BNB. At most Binance officials will pay a decent fine. After all, there are no complaints about BNB itself. But while an investigation is underway within the SEC itself, it remains to be seen whether the case will go to court.
It seems the SEC is always looking for an excuse to investigate a crypto project when it is already popular, which has happened in several projects. We hope BNB gets through this well and that no problems will arise once the SEC investigation ends. And hopefully, this won't have any effect on the BNB price and won't plunge to rock bottom as the support for this project and the token is still strong.BNB is practically a slightly modified copy of ethereum, which the same SEC did not recognize as a security. It is not clear to me then how BNB can become a security.
I also believe that nothing serious can happen to BNB. At most Binance officials will pay a decent fine. After all, there are no complaints about BNB itself. But while an investigation is underway within the SEC itself, it remains to be seen whether the case will go to court.
A new case will begin just like how XRP battled with SEC for a few years, I am sure that Binance exchange will win on the long run because SEC isn't as rich as Binance, so its clear Binance will win and I guess that's why XRP was able to win against SEC too.
The SEC is the most powerful organization in the financial world. Nobody wins against her in court. Ripple will lose in court and Binance will lose. It is only possible to negotiate with the SEC and pay heavy fines. There will be no other option for the development of events.There are a lot of people like that in the world and a lot of corporations as well. SEC "wins" in the court, but the result always doesn't come.
The SEC again raises the question, as in the case of ripple, whether BNB is a security coin. Rather, he already considers this coin a security and, on this basis, makes claims against its leaders about the illegal cashing of securities for a large amount.
BNB is practically a slightly modified copy of ethereum, which the same SEC did not recognize as a security. It is not clear to me then how BNB can become a security.
I also believe that nothing serious can happen to BNB. At most Binance officials will pay a decent fine. After all, there are no complaints about BNB itself. But while an investigation is underway within the SEC itself, it remains to be seen whether the case will go to court.
It seems the SEC is always looking for an excuse to investigate a crypto project when it is already popular, which has happened in several projects. We hope BNB gets through this well and that no problems will arise once the SEC investigation ends. And hopefully, this won't have any effect on the BNB price and won't plunge to rock bottom as the support for this project and the token is still strong.BNB is practically a slightly modified copy of ethereum, which the same SEC did not recognize as a security. It is not clear to me then how BNB can become a security.
I also believe that nothing serious can happen to BNB. At most Binance officials will pay a decent fine. After all, there are no complaints about BNB itself. But while an investigation is underway within the SEC itself, it remains to be seen whether the case will go to court.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
This is the new case and rumors right? I think this is because of their ICO before and not sure if this is only for Binance US or it tackles the whole Binance system. Obviously, the normal scenario is that Binance will suffer a dump because that’s how whales work and then later on, they will buy again and that is the start of the rising Binance again. Don’t be afraid if you see BNB dumping because that’s a good opportunity for you to accumulate. Binance wont go down easily without having a fight, so don’t overthink. What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
What investigation? Is this the issue about bnb 5 years ago? This was posted in twitter, saw it last day. If found guilty, well binance will be in big trouble and especially their coin bnb because it was the main subject here. It can cause a lot of panic to those who support bnb and binance exchange.It seems that their glory days is now coming to an end. Will this be a beginning for a new or unfamous exchange to bloom? I really think so. I just hope that they won't follow what binance did here. It is still better to become successful in a fair and legal way but other than this, I heard that binance is also involved on the issue of luna. Not only sure though if that was true.
I think there is nothing to be afraid of Binance, but in any case, if the accusation is made against the Binance platform, this will have a significant negative impact on the crypto market in general, because the market these days is still under the impact of the shock effect of the Terra coin accident, the market has not recovered significantly Good so far and bad news like this, if it happens, will have a huge negative impact on the market.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
I think it is too early to discuss the possible consequences. So far, too few facts are known. In the event of a verdict unfavorable to Binance, there will definitely be a temporary dump in the market. However, if it ends up with a financial penalty for Binance, it should not have long-term consequences for the entire market and BNB.
Nothing confirmed yet, but to me it's more like FUD than mainstream news.
Binance is a leading exchange in the market if those allegations are true and charged, I think the consequences will be dire for the entire market, not just the impact on bnb. Despite being a centralized exchange, Binance is having a far-reaching influence on the market. Honestly, I never thought about the binance crash if it happened, it could be even more catastrophic than the crash of Mt. Gox before.
Binance is not the type of exchange that will go down even if any thing comes up because we ask and they delivered at best, as far as users and traders fund are safe people will still keep using binance, they are one of the few most trusted crypto platform out there.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
Let me tell you that Binance will be proven guilty by SEC. Has it ever happened where a company was certified innocent after SEC started investigating? I don't think so!
There will be a temporary reputation loss for Binance and as a result, the price of BNB might tank which will give us a great opportunity to buy some more BNB. Binance might have to pay a huge fine which may or may not affect their liquidity. But that's it! I don't see anything beyond these are happening to Binance.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
If that happens, Binance will lose its reputation and must explain the truth to the public. Yes, it will create panic in the crypto space because we know Binance is one of the top exchanges that have huge funds inside the exchange. It will also affect the BNB coin, and I can't imagine what will happen. But let's wait for the investigation and hope that Binance doesn't have any problem with that and can show proof about what is happening at that time.BNB is practically a slightly modified copy of ethereum, which the same SEC did not recognize as a security. It is not clear to me then how BNB can become a security.
I also believe that nothing serious can happen to BNB. At most Binance officials will pay a decent fine. After all, there are no complaints about BNB itself. But while an investigation is underway within the SEC itself, it remains to be seen whether the case will go to court.
I see a huge fine in this case if ever Binance Exchange is found guilty of the Reuters accusation. I don't think the Binance exchange will cease to exist because it isn't registered in the US. CZ is smart enough to avoid US markets since it is really a pain in the ass to deal with SEC.
But it looks like Binance exchange had replied and published an article that suggests ignoring the baseless accusation of Reuters.
But it looks like Binance exchange had replied and published an article that suggests ignoring the baseless accusation of Reuters.
Quote from: https://cointelegraph.com/news/binance-fires-back-at-reuters-money-laundering-allegations
“We highly suggest you ignore those authors and pundits who cherry-pick data, rely on conveniently unverifiable "leaks" from regulators, and feed into the cult of crypto paranoia for fame or financial gain. Instead, just look at the facts.”
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
Binance has already been aware of SEC and have different operation globally and in US. The US version of Binance was made to satisfy the conditions and demand of SEC and yet they are investigating on it. Binance US is still a large part of Binance's profit and they would probably try to keep in running by paying a fine both on and off bills. Small crypto fluctuations needs no large issues I don't think any results would have significant effect on BNB or crypto as whole.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
If that happens, Binance will lose its reputation and must explain the truth to the public. Yes, it will create panic in the crypto space because we know Binance is one of the top exchanges that have huge funds inside the exchange. It will also affect the BNB coin, and I can't imagine what will happen. But let's wait for the investigation and hope that Binance doesn't have any problem with that and can show proof about what is happening at that time. 
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation?
SEC may bring binance to the court like what happened with ripple and KIN token. Im sure this scenario will happen if SEC can prove it but otherwise if SEC can't and binance will always be operating legally. SEC just like a late joiner players. it was always coming once the platform has become a big platform. Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
The news already known by all of crypto users and this is not something that will make people feel panic. This news from SEC was nothing compared with the massive dump that already created by luna. This was even worst compared with the SEC news. People already known SEC was nothing for now.
Binance is one of the largest cryptocurrency exchanges, respectively, I do not expect anything more from the SEC than the imposition of a large fine. And this is only if the Binance guilt is proven in court, which will not be easy to do, since Binance has the financial capacity to hire the best lawyers.
A new case will begin just like how XRP battled with SEC for a few years, I am sure that Binance exchange will win on the long run because SEC isn't as rich as Binance, so its clear Binance will win and I guess that's why XRP was able to win against SEC too.
The SEC is the most powerful organization in the financial world. Nobody wins against her in court. Ripple will lose in court and Binance will lose. It is only possible to negotiate with the SEC and pay heavy fines. There will be no other option for the development of events.Quote
The firm also backed away from plans laid out in the ICO’s white paper to spend 20% of the exchange’s profits every quarter to buy back BNB. Zhao in a 2020 blog post said the change was made in response to legal advice “indicating the potential for being misunderstood as a security” in some regions.
SourceCould it be that CZ already envisaged this issue coming? It is understood that Governments are well against cryptocurrencies in general and I think they might continue to go after the system in every way.
A new case will begin just like how XRP battled with SEC for a few years, I am sure that Binance exchange will win on the long run because SEC isn't as rich as Binance, so its clear Binance will win and I guess that's why XRP was able to win against SEC too.
The SEC is the most powerful organization in the financial world. Nobody wins against her in court. Ripple will lose in court and Binance will lose. It is only possible to negotiate with the SEC and pay heavy fines. There will be no other option for the development of events.
A new case will begin just like how XRP battled with SEC for a few years, I am sure that Binance exchange will win on the long run because SEC isn't as rich as Binance, so its clear Binance will win and I guess that's why XRP was able to win against SEC too.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
They will fine them but Binance can handle it since they have huge funds and profit. SEC just want to milk them that’s why they always do this kind probing on project that successfuly operating under there jurisdiction. CZ is very smart to avoid them and stop to prusue US market because SEC is pain in the ass that wants money to his business.
This will cause a FUD to BNB just like what happened to XRP but this will not stop Binance as they are currently number exchange.
Is it about the accusation that binance is a safe-house for hackers, scammers, and drug traffickers by reuters?
This could be true back in 2017 I guess, there were not so much monitoring before but today, it could be hard to do. Why would scammers and drug traffickers use binance these days when they know its regulated already which users has to submit KYC.
So many fud today in crypto that they are targeting exchange tokens too like the BNB as security.
If Binance is found guilty, then the exchange may have to rebuild its reputation, which would take time and money. Each investigation would likely involve separate legal fees and could damage the overall view of the exchange by users. If this happens, it's unlikely that the price of the BNB coin will change much; however, if there is a penalty involved in the ruling, it could hurt Binance's reputation.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
I think it is too early to discuss the possible consequences. So far, too few facts are known. In the event of a verdict unfavorable to Binance, there will definitely be a temporary dump in the market. However, if it ends up with a financial penalty for Binance, it should not have long-term consequences for the entire market and BNB.
What do you think will happen if SEC finds Binance exchange to be guilty in their ongoing investigation? Do you think this will create panic in crypto space or will just affect the price of the BNB coin for some while?....
Jump to: