Topic: What's next? (Read 470 times)

Europe has been hot in the media lately, especially about the discontinuation of Binance's exchange operations in several European countries, including Canada and others, for now, the foam position in Europe is Binance, including the strongest and number one in crypto trading, Coinbase is in second place, meaning that Binance is used more by the European community, as well as greater taxes that are obtained by government authorities.

I consider that even though Binance has currently stopped operations, especially in Canada and several other European countries and even though the new rules implemented by the Canadian authorities are not approved by Binance, however Binance still expects more policy regarding Canadian regulators to come, particularly around exchanges operating in Canada, In my opinion, all the problems faced by exchanges in Europe, policy and its continuation are in the hands of the governments themselves, if they think about what is best for people in crypto trading, of course they will change the rules that can be accepted by all parties, stock exchange owners, the people and the government.

But this kind of news is FUD. Remember, markets are driven by participants' emotions. What happened now to risk assets after a negative news event that causes fear to the masses? It goes up. Because of fear of this kind of news, they sell their position or their assets out of fear.

Rumor will stay a rumor until it is proven right. There are always a kind of economic and global events or news like this. But those things don't really happened does it?

Honestly, when I was thinking that I should transfer the assets I have in binance to my wallet in metamask first, I just created a wallet under the BSC network just in case something unexpected happens on the Binance platform. at least my assets such as Shiba Inu and other coins that I hold are safe at the BNB trading fair.

Because of course we don't control what will happen in the future, even if we say that Binance is a big exchange, with the kind of harassment that the SEC is doing, we still can't say what will happen, it's good to be proactive and careful, right?

Even though more people will keep selling there BNB and busd tokens because of this, it will not make the exchange to fall because just like CZ had explained many weeks ago, Binance as an exchange has reserves and insurance that protect the tokens even though many decided to sell there holdings. Now we all can see that Binance is a strong exchange nit like other exchanges that do not have reserves set aside for in case anything happens to the exchange. CZ is a smart person and we know that with all these that is happening to Binance, it will make it more successful and stronger with time.

Great to understand that you share same believe with me, but as you rightly said, that shouldn't make us to trust them 100% and we also do not have a clear reason to panic of mysterious funds disappearance on Binance as FUD carriers will make it to look.

P.S: sorry for some typo errors on my first post in this thread, really suffered you to read and understand.

Recently binance have an issue regarding their license and this case many people get panic and sold their BNB and as we except this time the market crash for their Coin for sure CZ will do something about it because they don't want to get the same as the other exchange that didn't manage and make a rug or bankruptcy. This timing could be good for the people who accumulate to the BNB as their recover immediately.

The Binance and SEC situations are inherently favorable for some traders – but they also have a negative impact on their holders. Binance is a decentralized exchange that is basically reputable - but again you shouldn't rely 100% on that reputation without other risk considerations. Binance has had a lot of impact on the growth of bitcoin users - that may be true, but we have to be wise enough to trust them.

The situation might be very different if Binance and the government had found it mutually beneficial. The market isn't going to be forever dependent on Binance anyway - let alone bitcoin, that has absolutely nothing to do with it.

Lately last year, I don't seem to remember the date accurately. Even as I have tried to find the topic but can't find it, I still remember that on that thread, one legendary member made an open statement and said that "Binance will crash this year and CZ will run to hide." After reading that, I just thought to myself, what bullshit it is, but yeah, it's no bullshit any more; it seems it's becoming a reality now. I am already beginning to feel some sense of pity for CZ, but he should know that no very successful business doesn't have some bad time. If he luckily gets off this shit, then the exchange will gain trust from people (just my guess).

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

They had been on this market for a while now and issues and challenges like this is somewhat that had been anticipated by CZ or the team itself.They are running a business and having back up plans
is something that always next in line or automatically be considered that they are already that advanced on what they should gonna do. They do know on how to handle themselves on situations like this specially if legal actions and decisions would kick in. Whats next on this market? We dont know on what would happen and it would be entirely be depending on how Binance would be solving out with these current issues.

Sure thing on here that whatever the decisions then it would really be making out some significant impact here on this market.This is why for us traders or investors then we should really act out
basing on what we are really that seeing or experience. Use up our common sense and would act out accordingly on which we do seem that it would really be something that benefits us.

Of course - this is part of how they keep investors safe. Binance will probably do so if they are sued for discontinuing US services - so there will definitely be time to go public and require all of its customers to withdraw funds to their respective wallets. Binance did the same when they removed some altcoin from their listing - so time was given to customers to move their assets elsewhere. I'm sure Binane will - just don't trust them 100%.

Apart from the above said, I have seen exchanges that failed honorably. Before the closed down, they informed their customers and give them a certain duration of time to withdraw their funds. If smaller exchanges can do this, how about Binance? If means that even of Binance want to close operation in a certain country, they will give notice to the people to withdraw their coins, nothing to bother or panic about.

I used to use Coinbase for free trading from one crypto user to another crypto user via email, that was four or five years ago. Then sometime coinbase changed some rules and closed many accounts, but they allowed to withdraw funds from those suspended accounts. And that was my last use of coinbase.

Binance is currently the most widely used exchange by crypto traders, investors, and is widely accepted due to its ease of use. This pressure on Binance may affect the market temporarily, but it will not cause any major long-term impact on the crypto market. Because if the operation of Binance is stopped, then a new player will emerge in the market which will take the place of Binance. Because many exchanges have collapsed in the past and companies like Binance have taken over the space. So crypto market is free market, if you are smart enough no bad news will affect you. The crypto community is now waiting to see the outcome of this lawsuit against them, and what acceptance it creates in the market. Because crypto users may already be busy looking for alternative exchanges to these exchanges, because no one will sit for anyone, no one will risk their own funds.

What will happen next depends on CZ and of course Binance's lawyers,
if they win against the SEC of course it will have a positive impact, and even BNB prices can pump high too,
but if they are proven wrong then this will be bad for Binance and most likely there will be a lot of cash out from the exchange.

The accusation on Binance was for Binance.us which operates in the USA. The concern was about certain altcoins, which are not meant to be traded in the USA. SEC made it clear that they were not after Bitcoin, instead they were targeting some shit altcoins. We can see that clearly because if we look at the market, bitcoin was the least affected by this. But as the market sentiment goes, Bitcoin did face some trouble. So, if that's true, then there's no need to worry about it. Bitcoin was never the problem in the crypto industries, it was the centralized exchanges.

Even if the most recognized exchange aka Coinbase or Binance is erased out of existence, nothing major will happen to Bitcoin. As we all know that the market sentiments are attached to it, we will face some price dump and FUDs but when it's over, everything will be back to normal. That's just the worst case scenario. But as the problem is regarding the use of Binance in the USA, maybe USA will ban Binance there. But it may continue to operate in other countries as it is doing right now. Only time will tell. But as long as you are not keeping your assets on Binance or other centralized exchanges, you are good. Always remember, Not Your Key, Not Your Coin.

Adapting to a situation like today is not easy for everyone if it is not supported by knowledge or good ways of seeing opportunities or other opportunities that can be profitable. Now the situation is different from last year and it's not always the same every month, so everyone still has to learn to control themselves so they can adapt to the current conditions.

Any prediction is never accurate, but everyone always prefers to make predictions that even the results are very close to what happened even though the basic references are taken from what has happened in the previous year. And all of this doesn't always depend on the situation, but really depends on how everyone reacts to what is happening and what will be possible to happen.

I personally really don't want to expect bad things to happen again, as well as various top exchanges that might have problems again. But it seems that what I hope will continue to be wishful thinking because especially the SEC will not just stop. What's more, their target Binance doesn't seem to have quite been reached yet, so they will continue to harass them until they reach their goal. In fact, the problem with Binance has actually been around for a long time, right? but until now, they still can't confirm it.

Hopefully just before the Bitcoin halving, all the big FUD will end and will last until the bullish era really happens as we expect haha

Binance is one of the most popular and one of the largest crypto exchanges. The terms of use of this exchange are very simple and more secure that is why this exchange has gained so much popularity. But recently two exchanges, Coinbase and Binance, have been involved in a lawsuit. The court may hear this case very soon. CZ is a very smart person he won't give up so easily but if for some reason binance loses the case what will happen to the users. A large number of users are involved in this exchange and so far a large amount of money has been deposited in this exchange, but if various users lose the CZ case for any reason, is there any chance of losing the money of the users?

SEC is only after Binance US, they won't be able to hurt Binance globally but only in the US, most individuals use centralized exchanges like yourself to convert their cryptocurency to fiats. If you keep those amount on exchanges it's not bad since traders also keep their trading amount on exchanges to make it easier for opening trading order and not having to wait for coins confirm before they can start trading.

Since you're not storing your coins on exchanges then you're not doing anything harmful, the coins you want to convert to fiats won't stay long on the exchange and if the exchange was to collapse while your coins are on the exchange, it won't hurt you much due to the amount lost.

The effect will certainly be affected due to panic in the market, so there will be a decrease in the price for the cryptocurrency as a whole, but I think this is only happening in the short term and will not cause panic in the long term. The solution is to stay calm and hold your bitcoins?

No one knows for sure whether binance will stop or not, but for now binance global can still operate and what I know is that only Binance US is experiencing problems. Even if the assumption is that later binance has to stop and can no longer operate, bitcoin will still be around us and has nothing to do with exchanges that come or go.

That seems a terrible happen to Binance but never I lost hope to get these things over and solved. Never I say that it can be easy to win back the trust of the people as this case continue but for sure, still a lot of Binance users who are still trusting this platform believe that they are not worth to shutdown than these unreliable exchanges that have been floating around.

I understand how the SEC is regulating the crypto market to stop and minimized scams and fraudulent transactions and so the Binance team must show and prove that they are not doing illegal activities.

That is it mate. I know that CZ is so smart and he cannot be taken unaware. Even if it is someone who is not smart, with the community Binance have, with the affiliation, sponsorship and endorsement, the CEO cannot let it fail.
Even if you raise a very big FUD, only an announcement by Binance for free trade or free token airdrop will draw millions back to Binance.

I am not saying Binance cannot fail and I am not also saying you should use Binance as your personal wallet. I am just saying that you should use Binance like and exchange it is.

Unlike with those exchangers back in the past on which on the time that they would really be facing up some issue they do really go below into the rankings or something that they would really be easily get replaced by other exchange which it is unlike on Binance on which we've seen that there's lot of issues on which this exchange had able to pass on but still standing strong even up to now.
There's still that much demand and recognition on it which it is why it isnt really that shocking that it would really be that they do still able to withstand or their existence is really still that relevant.
These issues would just simply come past and go and on the time that everything is settled then it would really be just continuing on what it should supposed to be done.

Binance is ranked first on chart when it comes safest exchange in the crypto space. It's largely functional for traders and investors. Binance is not overhyped, it's worth they hype because of gives and solved the complaints of their users, with ease actions. As a matter of fact, I triggered most of my trades with binance, I don't noticed about any fault with the exchange,  I guessed maybe his opposition is fighting CZ inother to degrade his position on the chart. Changpeng Zhao is capable of handling the tough challenges facing his team and binance.

I think the person at the head, Gary, ended up being a bit more cut throat than anyone expected and that's causing all this trouble that doesn't mean that we are going to end up with any trouble that would not be rewind back when the time comes but it could cause some trouble for the time being.

In the end, we are going to see SEC being a lot more light touched in the future, he is being dethroned for what he is doing and that is why all the attack we are getting, he is getting himself as well and the further he attacks the weaker his defense will be and that's why I am sensing that he is going to lay off on the attacks and start building a defense to keep his position. It would be the smart thing to do at least, not sure if he will do it.

A lots are happening now and we don't know the fate of Binance in the United States since the sex had been fighting the exchange for some breach which suppose not to be a bug problem like we are seeing. There are so many news about the Sec sanctioning Binance US exchange but I think the case is still in the course. This may not going to be a good news from my end but we hope that the sec will not finally kick Binance from US or Gary might finally be sacked if the contrary happens. We hope to see the final judgement on the case between Binance and the SEC.

There will always be the other guy. 

In old times, we don't really have an exchange, and yet the crypto industry grew even without it. And there's more out there, it's just that Binance is the popular one. Long ago, it was not. Poloniex and other names are the ones on the top of the crypto exchange industry.
So what's next?
Another exchange will be hyped and we are all going there. That's just how the cycle is.
But, that is if they can really take down Binance. Because of how much it grew, they can hire all the best lawyers in the world if they want to be protected. And CZ is not a fool, he knows what he is doing and I doubt he is not prepared for all of this. It will happen one day and that is now. Now, all he has to do is act legally.

Exiting specific areas, such as Canada and maybe the United States, might be viewed as a strategic move to assure compliance with local legislation and boost long-term viability. Suits and accusations are prevalent in the bitcoin business, particularly as it attracts mainstream attention and scrutiny. While Binance has experienced legal issues, it is important to note that litigation and allegations do not always imply a company's demise. Many successful firms have confronted legal problems and successfully navigated their way through them.

This is not very good news. Personally, it’s comfortable for me to use binance, and if they don’t, then there will be inconvenience. But they will definitely be replaced by something else.
It is also worth noting that the USA and CANADA are not the whole world yet, and if it is prohibited there, then in other countries people will still use it
Also, this news will not have a good effect on the general mood of people in relation to cryptocurrencies. In any case, the news about the closure of binance in the United States and Canada will increase people's distrust of this exchange and the BNB coin in particular and start withdrawing their coins from this exchange

Binance has been through a lot, even heavier than their issue with the SEC as far as I know, and they have overcome all of that. The XRP issue of the US is not over yet, the case is still centralized, how much can Binance do, which is not what I know.

In addition to that, Binance and Coinbase are both big companies, that's not something that the SEC can easily handle, I believe they will overcome that and when that issue is over, cryptocurrencies will definitely be green in the market.

They will have to face consequences with lot of their hidden terms they are using for their own personal profits but it could have impact on the market as they are main crypto exchanges at this time with billions of dollars volume and userbase but at the end market will survive as we have seen FTX collapse also but for me I have my coins in my own custody so won't affect me much.

Based on how far binance has gone globally, showed that the lawsuit will not destroy binance than to favour binance because many users will do everything possible to encourage their government to allow them to stay in the country so that the users will not find it difficult to search for potential exchange in the country. I think, there are other exchange we can use to exchange our fiat and crypto in the community without involving binance exchange because all those exchange are safe and secure in transaction. This is the reason many people prefer to save their money on Bitcoin than binance because government can do something that will affect the binance, but they don't have the strength or power to do anything that will affect Bitcoin.

Binance is currently the largest exchange in the world. it is true that binance is not only about the US, and there are still many outside of that who still faithfully use the services of binance. I think if something bad happens to the US, then it won't become a global problem, and of course if that happens then the market will definitely experience an extraordinary crash, and before that happens I think the binance team will prepare steps to anticipate it, moreover it's not easy to build trust from consumers

In as much as I do not encourage people to leave their funds on Binance, myself I'm a victim. Most times the money I need for fiat is being kept on Binance before I convert to fiat.
Binance is going no where and even if Binance will fail, it is not now. Binance is too global.
We should simply stop this FUD on the largest CEX in cryptocurrency. If anything happens to Binance, it is us that will suffer it and not CZ and it is the market that will plunge into more bear.
It may even prevent the expected halving bull run if it happens. Binance is not limited to only US. Binance is global and US cannot hunt it down.

The SEC rules this time are tougher than before, it seems that they are only meant to bring down the largest crypto market, Binance. but I don't need to worry because after all, binance is still a lot of people's interest, there are surely many ways for binance to keep doing well. even if binance really has to be closed i think crypto will still exist maybe the decentralized market will come back like etherdelta or forkdelta in a better version without being able to be claimed by any country's regulations.

Some unfortunate reading, but funny thing is as long as these people have access to the internet,  VPNs I really don't see how crypto will be out of their reach.

Btw Binance leaving this market is the people's loss not Binance!

Thought this would have a court day after being sued, otherwise looks like Binance isn't ready to dance to SECs tune and this is commendable tbh,  but does the USA have exchanges ready to operate under the conditions they are putting on the table I highly doubt it,  with this am really starting to think Bitcoin is better off unregulated for it to reach the masses.

Binance for me is impossible to shut down, maybe the issue about Binance for me is only for the US country which is having difficulties right now.
This is indeed got negative effects on the entire cryptocurrency especially for traders because during situation we will expect high volatility so expect that there will be a lot of candlestick wicks.

With all that's happening, I'm beginning to think this could become an opportunity for more Dexs to spring up. If Coinbase and Binance which are the topmost exchanges are getting terribly hit by governments, it could even make the exchanges to shut down and move to decentralization or this can create another wave of new centralized exchanges springing up. In the past it used to be Phoenix, Bittrex, Coinexchange, Bitstamp, Bitfinex that dominated the stage until Binance happened in 2017. I won't be surprised if we witness a similar thing play out now and there's a paradigm shift.

Binance is world top exchange and providing its service to most of the countries. This Sec Claim have a very bad affect on both exchange but for me Coinbase and Binance US will be affected more and services in other countries will remain safe. Binance US stopped trading and deposit/Withdraw and also some other countries like canada and Nigeria asked for Binance to stop service in their country but still lot of other countries which yet supporting crypto and Binance and they officially issues license to Binance to work in their country and i think no need to be worry and Binance is not going to anywhere. These events will make stronger Binance.

How is Binance and Coinbase are the exchanges that only qualify? Do you not know that if Binance and Coinbase cease to exist today, it is an opportunity for other crypto exchanges. There are many other crypto exchanges that are good too.

The exchanges in question are Binance.us and Coinbase. Binance.us is only available in US, while Coinbase products and services is not available in many countries.

Despite the lawsuit, bitcoin market price did not that fall. Bitcoin has been having a support at a price slightly above $25000.

You said it is a rumor which means what you saying to the table is not legit or what are you trying said but if its truth on what you are saying that means we are all getting on to be in a big mess then but thinking of it Binance is generously known as a popular exchange many people have used it for trading and holding, sometime time I do forget usdt and bnb on the exchange platforms, but does the government have a hand in this case??

That's right and many think that it's against the whole Binance and they think that Binance.US is separated from the Binance that we use globally.

When the US have been strict for most of these exchange and even with their own Coinbase, there's something wrong base on the policy that they're implementing.

And that's why they're leaving it and that's a good decision for them. The SEC is said to be trying to protect people from wrong offerings but they'll also see that this huge market is a benefit to them that they've let go.

Yes, that's something that most newbies are not aware of, SEC is looking at Binance.US because it cater obviously to American investors and SEC saying that Binance is offering securities to them which is against their law.

Well they created a separated entity for American investors and traders that's why they put a .US domain name. And initially it satisfied US government until SEC decided to create this fuzz about Binance. And all Binance can do is answer the SEC and then leave the US for good and they don't meet in the middle or at least SEC wanting Binance to get out of their country.

Things are escalating quickly and with these overwhelming activities and suits filed by Gensler, there goes this one congressman that eyes to fire Gensler.
(https://beincrypto.com/warren-davidson-stabilization-act-fire-gary-gensler/)

Aside the fear of missing out with what's going on, one should prepare his mind and make moves to take his asset off centralized exchanges, this does not apllies to Binance alone but every other form of centralized exchanges in custody of our asset keys, we should learn to remain independent and move our bitcoin into our own wallet, if you think trading is what tie you to using them, then think twice, only leave the amount you can afford to loose on the exchange for trading while your major investment or asset should be on a decentralized wallet.

Bad news are temporary stuff and they will not matter as much as people think they will matter. Which is why it is quite important to remember that those are temporary, and if you are aware that they are temporary then you are going to be fine about it in the future as well, we won't really have that much change in the end.

Hopefully we would end up with something better and the good news would start piling up, those are usually temporary as well but at least it would be a counter towards the bad news. It would allow the price to go up, but since it naturally drawn to going higher, that means the direction change is all we need, when that happens the price will start to go up and even if all the good news loses its power, the price would still continue to go up.

Agreed, I believe it's a bunch of FUD/conspiracies to drive the price down before the halvening.

It’s really easy if this is the only the consequences on CZ case. It’s not a toy that you can just pull out if someone doesn’t like it. If SEC become successful, They can sue CZ unimaginable amount plus a jail time since he violates multiple law in the US that affects many citizen.

You are talking as if there is no law being violated. SEC will not sue Binance if they can get away easily like that. Any expenses on CZ case will reflect on Binance budget since CZ represents the company on this case.

There is nothing we can do at this moment. Whoever uses Binance US should withdraw their fund immediately and store their Bitcoin on a non-custodial wallet like Electrum. Global Binance users (Except for US and Canada) should be worried to see how Binance US was forced to be down. I am not sure what is the current status of Binance US right now. Is it down? Can users withdraw their funds?

We will see a massive crush if Binance gets seized. Bitcoin will recover at some point. But, we have to wait for a long time to recover the lose. If Binance get seized, most altcoins will be dead.

No one can actually know if whales have already bought or if they need to buy more, but if someone wants to invest at the current price, they should start doing DCA from here until the price reaches the bottom and bounces back at the current position or maybe go higher. When you do DCA, you will always have more funds as a spare because if you never used all of it on buying Bitcoin or any other cryptocurrency.

There is a lot of bad news circulating in the market, the main ones being about Binance and Coinbase which might settle down soon or it may take some time because SEC wouldn't want the exchanges to come out clean so quickly before the market gets devastated.

As far as I have heard, it’s not about the whole Binance, it’s just against the part of Binance which operates in the United States. But still if these lawsuit really affecting it, then there might be huge chances that Bitcoin price will be hugely affected by this. People in the US will now panic sell all the coins and hence the price will come more down. I would suggest for now, to take out all the coins from Binance and wait for the matter to resolve. Let’s observe everything, till these gets normal.

People are panicking now without knowing the context of the news that they've seen. It's just all about SEC and Binance.US not entirely Binance.

And Binance is just willing to forget all about it and sacrifice that binance.us because it won't work anymore on that area. While the entire Binance company is not even thinking of it because they've got it globally.

But if you're looking for something to panic for then that's fine, I'm still calm with the situation that they're currently facing.

Centralized exchangers are not reliable.  Because here your money is being controlled by others and so you can say what will happen with them or what will do they in future. Binance came to the market in 2017 and managed to achieve success very quickly till now Binance is known as the biggest and best exchange in the crypto world.  However, just because the us version of Binance was recently suspended in the USA, it does not mean that Binance is going to disappear. Because Binance is not based in USA. Even so, if you want to keep funds in Centralize Exchange, I think it is better to have all kinds of preparations.

Stay calm and relaxed because we are still in a bear market, Bad news and Fud are still appearing very often,
especially the Coinbase and Binance cases will become popular cases in a bearish situation,
so whlaes are also prepared to buy at the bottom price, therefore do not be too hasty if you want to buy.

Even if Binance ever leaves the United States, Americans can still utilize Binance. We have something we used to call a VPN, and if you use it in a country where Binance is allowed to operate, I believe you can access the website. I think there are a lot of other exchanges that we can use with confidence, but the Binance platform was unique, and we must admit that some traders and investors still only wanted to use Binance. Kucoin is, in my opinion, the greatest exchange to use in addition to Binance.

Binance exchange doesn't need the US market to survive, they're a global cryptocurrency exchange and their operation aren't limited to just US. They enter the US market through Binance US just as they entered other countries officially through same method. Binance US might cease to exist but Binance global will keep existing an people can still buy and sell their coins with the exchange.

One disadvantage from this whole situation happening is that this could affect Binance exchange reputation and other exchange can take advantage of the situation to announced themselves to the market and this means Binance will have to work their way back to the top.

Yeah there’s a lot of alternative but Binance and Coinbase holdings is enough to brought down the market in case they are force to went down due to this case assuming they will be unsuccessful to defend on their lawsuit.

Lots of Binance and Coinbase investors will surely sell-off like what happened during the FTX failure. Binance and Coinbase are much bigger compared to FTX so the damage on crypto is surely more bigger than the recent Luna and FTX fud combined. I’m hoping that Binance and Coinbase will still operate freely even with this lawsuit.

Binance will try to fight back that's for sure, if you have followed CZ, you know that he won't simply back down from this kind of attacks.


Unfortunately, this is the FUD that CZ is addressing. I doubt that they will cease to exist. Binance has grown tremendously since 2017 so it's not easy that they will just stop at it is a billion dollar business.


Coinbase has another place in motion already,  Crypto Exchange Coinbase Receives License to Operate in Bermuda


Binance left Canada because of their hard line stance, there are new regulations in place that CZ didn't agree with the Canadian government.

There are many exchanges that are still operating safely so we don't have to worry about even if Binance and Coinbase disappear then there are still other exchanges or other options that can exchange our bitcoins and this is just from the trip where the government is always harassing what they don't like, of course there must be an effect on prices but not completely the market will continue to fall.
I've never been worried about exchange news because my assets have never been stored there, once again what I know about Binance they are still going strong and of course if you leave America and Canada then there are still other countries that can move there.

Better to wait for further news from Binance. But if you're worried, maybe it's time for you to move all your coins from Binance to another exchange or your personal wallet so that you don't have to suffer when something bad happens.

We don't know what will happen to Binance and as one of the biggest crypto exchanges, I don't think it will be easy to make Binance disappear from the list of major exchanges. So maybe you can think about what you should do from now on.

I'm still waiting to hear back from Binance and haven't moved all my coins, even though I know it might be risky. But I don't think Binance will close as soon as possible because it relates to the assets of many people already using Binance to make money.

Binance is one of the most popular and easiest crypto exchanges in the crypto market. Currently, the number of users of this exchange is large. And in terms of security, this exchange is far ahead of other exchanges. All types of transactions are available in this exchange. But recently various problems are arising with this exchange. Coinbase and Binance, two major exchanges, are currently in trouble. Users will have to face a lot of problems if Binance exchange is closed due to conflict with each other. Because as easy as this exchange can manage various activities unlike other exchanges.

If eventually binance has to stop operating as an exchange, crypto trading activity can still go on.
It's just their business problem so don't be too bothered by what happened to them.
If you have funds on binance then you should be concerned and withdraw or transfer them immediately.

This case is still unfinished so we need to be even more certain that exchanges are not a place to store funds.
Prior to binance, FTX also had serious issues so the advice of those advising against keeping funds in online accounts was not ordinary advice but important advice for safety.

Binance has nothing to worry about since they will just pull out of the United States.

One has to stop thinking about "what's next". Traders won't be completely deprived of their trading facilities.
Trading platforms are the best business in this space and all companies will always compete with each other to be the top choice even if they have to go against the wishes of their users in order to comply with regulations. In the end, users will readjust to the new regulatory provisions.

There's nothing we can do if these rumors are true because this was expected that there are governments that are always against on decentralized world since they can't regulate it.  Traders should stay up-to-date on the latest developments regarding a specific exchange and any ongoing legal proceedings from a lawsuit, it's recommended to follow reliable news sources, official announcements, and regulatory updates for this, rumors sometimes bring us FUD.  

There should be sources that can provide you with the most up-to-date information on the situation and its potential impact on the exchange platform in question, not this rumor.

So the best thing is don't store your coin on any of them Binance and Coinbase.
Remember Bitcoin is decentralized, no one has control over it not unless, if you will put on the centralized exchange.  

SEC's just going ham against exchanges these past few years and it's enough to make someone skeptical about the longevity of these CEXs. So the "rumor" as you put it is well-warranted considering the situation and the implications it brings. In any case, I do believe as you said that this maneuver by the SEC will be enough to erase Binance out of the map. The exchange just had so much relevance and well-received supporters, as well as a fool-proof failsafe that allows it to linger in the industry for as long as it likes.

Although I myself believe that CZ has done nothing wrong to rile the SEC's anger right here, it's still a testimony in itself that the US will do whatever it wants to antagonize anything and everything that stands against capitalism and the little paradise it built for its wealthiest. A true testament to the depravity and utter lack of morals that these people have from the get-go.

One word I picked out of that is rumour. For all we know, it could be that, rumour
Facing a lawsuit doesn't mean your platform is going to be blanched off the Internet.

Even at that, its not bad to get your coins out of exchanges into wallet else should there be any true to it, you are at risk of lossi

Bad rumor with Binance and has recommended from some source for withdrawing or moving our assets from Binance to another wallet or exchange, seems serious what problem faced by Binance right now and worry will be the next FXT or not? Last three days after Binance investigating and announcing by SEC Commission price of BNB dropped drastically and bad impact for market have been drop under 10%. Its seems fud or not to make many investor panic for selling their assets and move it from Binance but still waiting with CZ as Binance owner how to give reason about his exchange keep secure although faced difficult situation after facing SEC Commission.

Last week invested in BNB coins but few days later price dropped drastically, worry what have to do for cut loss or keep waiting until another good news and make BNB coin pump.

From my perspective it seems that binance government want to trap binance down because its one of the largest exchange in the world and they know that people who is into cryptocurrency majority uses binance for exchanges, but even though binance is been ceased or shutdown by government that does not mean we won't exchanges our coins in another exchanges, we have varieties of exchanges that we can exchanges our coin with, but I know that with awareness they will be like binance, the problem is that many people has been acquainted and acclimatised with binance that's the reason many others are complaining of binance exchanges getting to ceased by US government, if after the lawsuits they did not find binance guilty that means binance were take it domain and it will stand until bitcoin technology is been crashed, but a process whereby they is proof or evidence binance committing a money laundering that means binance will be stop in everywhere

Really their news is touching hearts. I have not used coinbase but bincance in my buying and selling service with my trading services. So if Binance goes down today it will affect me. Because it is easy for me to use. Though I believe that if Binance stop to exist in the crypto market, there will another one that will spring up that will be greater than Binance. Just like Chipmixer and whirlwind Mixing companies.
The news is not favourable in the cryptocurrency ecosystem market.

Source? Rumors is useless if there’s no valid source or reasonable explanation on why will it happened in the future. The SEC case against these 2 giant crypto exchange doesn’t affect the business outside the IS. Maybe they will be not allowed to operate in US but they have the rest of the world as customers since US doesn’t represent the whole crypto community.

My point on this situation is everything will be fine soon. Ripple is battling SEC for many years without any huge impact on their company. They are still operating freely. Binance and Coinbase are larger than XRP so I believe they will manage to live another day against SEC.

It is not our concern but it is the concern of the market and platforms. Why it's, not our concern? We already have many alternatives to the services provided by both of the exchanges even though we have better services. Why it's markets Concern? Because;

⚫ Userbase: Both of the platforms have a huge user base and even though we have alternatives but most of them are not aware of it so, their closing business can make a direct impact on the total users on the market.

⚫ Brand Value: In the crypto industry brand value really matters as we already experienced with the FTX, LUNA, SOL, and other projects failures directly impacted the market and made the huge conversion of market investors to the stable funds and market exit. Because Brand collapse always creates a community feud which brings a lot of consequences.

⚫ Market Capital: Most of the trading capital is just already occupied by these two projects now slowly things are moving in other directions still a regular inconsistent user prefers these two projects to trade in the market. Strong action against these projects will bring a huge loss in the market capital and trading capital which is not good for the growth of the market.

Anyway, things are not that worst yet, I think Binance can manage things out and they also have many alternatives, Same is the case with Coibase. Still, if SEC takes action against them to make strong moves and these projects reach their market default (very measurable chances) it can have a temporary market downfall and pressure it will recover sooner or later as we already faced MTGOX, FTX, and LUNA, and many others major crisis moments.

 

What we are waiting for now is the outcome of the lawsuit because this news is gradually getting saturated in the market. What you will also realize is that the market will start getting use to it and the price will start getting back to the sentiment of the confidence of investors. I think on the long run, bitcoin will recover but shitcoins will give way in the cryptocurrency space. By analysis, the lawsuit may end up that binance may not operate in US and Canada but other countries may decide to allow it with some regulations.

The goodnews is that bitcoin is completely decentralized and can not be censored or taken control over by any government, if either of the exchange decides to cease to exist, or maybe both of them decide to cease to exist, bitcoin will always be here with us, I can only advice every investor to sell every altcoin they hold and keep their money in bitcoin alone, because if binance or coinbase or both of them for whatever reason goes down, thousands of altcoins will go down with it/them, bitcoin will surely be negatively affected but that effect can only last for a short period of time, and it(bitcoin) will pick back up again, but for the altcoins that will go down, it will take a miracle for any of them to pick back up again.

Hi guys
What do you think about the situation around Binance?
Rumor has it that one of the largest crypto exchanges will soon cease to exist
Binance and Coinbase are the only two crypto exchanges that qualify
Binance has already left the Canadian market and is close to leaving the US market
Both are facing lawsuits and claims

-Regards