Will the CZ event affect the price of BNB?

Orpichukwu

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Quote from: SAHASAN on May 20, 2024, 05:35:34 AM

Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

Anythings can happen.
Good to be away from BnB for now. Most of the big investor will do it. Moreover BNB is close to its previous All time high price.

If anything could have happened, it could have happened long before now. Cz has already been sentenced to 4 months in prison, and yet the crypto market is still pulling back from its drop. BNB is also not exempt.

The only time I saw BNB dropping in price was the first time the Binance case appeared before the US government, and everyone was afraid that could have been the end of the exchange.

If you want to be careful with BNB, which is the official Binance native token, it should be because the person wants to take caution with altcoins, and that should not just be based on the CZ case with the US government.

batang_bitcoin

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

While news affects coins and tokens accordingly. It is still a speculative market where BNB is relying to its own network and community, supply and demand. With his jail time of four months, it won't be that long as he'll be free again and still when he comes out, the market is still on a bull run and that's why it is not a problem for those holders of BNB if ever you think that it's a huge even that shall affect the price negatively. Well, that is on my perspective.

Mahanton

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Quote from: Odusko on May 20, 2024, 05:13:51 AM

This thread is best fit on the altcoin speculations board here:
https://bitcointalk.org/index.php?board=224.0

Back to the topic, BNB is already an established utility coin and the excahges hard a Change of the executive in person of CZ before he was sentenced to four months in prison, so I am not sure if his sentence will have any impact on BNB and investors don't have anything to fear from the CZ ordeal.

That was the best plan that made by CZ for sure, although it wasnt that something be that so obvious on which he might already presumed that he would be jailed and thats why making some actions like appointing someone into such position on which just in case that there's something that would happen in him then it wont really be making that kind of amok in the market specially into its coin BNB or even into the exchange itself.
We've seen on how they do able to handle out such situation on which it did really lead up for some correction to BNB price but not really that much since they've been able to patch it up and made still the exchange
on a good state despite of those legal issues or even CZ has been in prison.

Also if we do tend to know on how many months that he would be in cell then it is really just that 4 months on which it is really just that too short or not long time.
So it wont really be something that everybody would really be getting worried on.

Binance founder Changpeng Zhao, who pleaded guilty to money laundering violations in November, was sentenced to four months in prison on Tuesday.
U.S. prosecutors had recommended a 36-month sentence for Zhao.
The crypto billionaire stepped down as Binance’s CEO as part of his agreement with the Justice Department.

Source

YUriy1991

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

I think it is natural for investors to make further observations after the judge's decision is handed down and on the other hand the incident has more or less an impact on all involved, especially those who have business ties with the Binance platform and CZ in particular. But, in my opinion, the moment did not last long and was permanent. For the price of BNB, it was not too hit directly by the case and it is still natural if we look at it as it is today. All coins/tokens are always looking forward to the continued price movement of BTC.

AVE5

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

I'd had doubted when you said the situation of Binance has shaken the market and investors but then I had to think twice before reacting.
I'm submissive to this because Investors demands and supplies determines the market value which unfortunately the incident between Binance and its CEO CZ and their unlawful charges has weakened investors to have rethinks of what the future of cryptocurrencies maybe if a whole influential crypto enthusiastic like CZ could be guilty of such fraudulent charged activity.
But I'd only have to o say that investors shouldn't attache their investors emotions to that because CZ is just an entity then fortunately cryptocurrencies are decentralized nonx custodial digital network which not even the government can influence its potnetials talk more of an individual.

Fiatless

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Quote from: DanWalker on May 20, 2024, 10:55:57 AM

As Upgrade00 mentioned, CZ was only sentenced to 4 months in prison and he is serving it, and so far, you can also feel things for yourself about BNB or Binance. There doesn't seem to be any serious effects or troubles happening to them.

Before the sentence, the price of BNB dropped slightly. But it immediately recovered from $556.20 to $570.60 after the sentence. Changpeng Zhao (CZ) has already stepped down as the CEO and four months is not a long time to affect the company immensely. He was just lucky to have just a few month's sentence because such a crime could lead to as much as 10 years in prison.

Quote

But if you are investing in BNB then you need to know that BNB as well as other altcoins like Solana, Ada...any altcoin, they will have risks and there are many risks that need to be considered, not just their creator. Even if they are still run and led by CZ, there is no 100% guarantee that BNB or Binance will not encounter any problems. The cryptocurrency market has many potential risks that we can never predict, so always have a suitable investment plan for any coins.

A lot of people have so much confidence in Binance. Some people believe that the company is founded on a solid financial foundation that will make bankruptcy difficult. However, they should be aware that no centralized platform is trustworthy. They can easily be attacked by the government or can be mismanaged.

DanWalker

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As Upgrade00 mentioned, CZ was only sentenced to 4 months in prison and he is serving it, and so far, you can also feel things for yourself about BNB or Binance. There doesn't seem to be any serious effects or troubles happening to them.

But if you are investing in BNB then you need to know that BNB as well as other altcoins like Solana, Ada...any altcoin, they will have risks and there are many risks that need to be considered, not just their creator. Even if they are still run and led by CZ, there is no 100% guarantee that BNB or Binance will not encounter any problems. The cryptocurrency market has many potential risks that we can never predict, so always have a suitable investment plan for any coins.

Kelward

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Quote from: btc78 on May 20, 2024, 06:32:38 AM

Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

Even with a few impacts on binance, I still think that they are doing pretty well despite of all the news. CZ’s legal troubles are not necessarily associated with the coins nor the platform anyway so maybe that is why there’s not much drop that we can see. I think that over the few next months or years, it will just be all forgotten and bnb and binance will continue their growth.

Binance and BNB has built there own reputations in the crypto space, Binance, till today remains at the top as the number one exchange, likewise BNB is doing good in the crypto market, and it's one of the altcoins, that we're looking to be bullish in this season. This qualities has been carrying on even after CZ handed over the reign of command to a new CEO, so I think that he has built a solid structure for the exchange and crypto, that they can still maintain their spots at the top without him. The crypto space is volatile, so it there's any shakeups because of the time that CZ will serve, I think that it'll be for a while, and then it'll be business as usual.

btc78

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

Even with a few impacts on binance, I still think that they are doing pretty well despite of all the news. CZ’s legal troubles are not necessarily associated with the coins nor the platform anyway so maybe that is why there’s not much drop that we can see. I think that over the few next months or years, it will just be all forgotten and bnb and binance will continue their growth.

Taskford

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

No, if binance will continue to operate their business then there's nothing will happen to BNB since it will continue to exist. But maybe there are some small effect since people might think about dumping their BNB since they get afraid on CZ's situation.

But if Binance will remain strong expect that BNB will bounce back and remain as one of the top alts in the market. But lets see what will happen on these since the case still developing and if there's really a direct affect to BNB if their former CEO will be penalize on by law enforcement agency. That's why if people are getting afraid with their bnb balance then maybe its for them to decide if they want to sell it and find another alternative while there's still a issue that potentially can affect the price of BNB.

Upgrade00

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The court decision has already been made and CZ was sentenced to 4 months in jail. He has also since stepped back from management of the affairs of Binance and a new CEO has been appointed. There has been some fallout, especially in the US. Some states have refused to renew binance licence to operate within their jurisdiction.

BNB has ridden the wave well. It didn't go down much or at all. Binance have done a good job of dissociating themselves from the entire fiasco and the users really don't care who gets indicted, they already trust too much spaces in these centralized exchanges.

SAHASAN

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Quote from: enywu on May 20, 2024, 04:32:42 AM

According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

Anythings can happen.
Good to be away from BnB for now. Most of the big investor will do it. Moreover BNB is close to its previous All time high price.

Odusko

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This thread is best fit on the altcoin speculations board here:
https://bitcointalk.org/index.php?board=224.0

Back to the topic, BNB is already an established utility coin and the excahges hard a Change of the executive in person of CZ before he was sentenced to four months in prison, so I am not sure if his sentence will have any impact on BNB and investors don't have anything to fear from the CZ ordeal.

enywu

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According to the data on CoinCarp, CZ's legal troubles have cast a shadow over Binance and the entire crypto market. As the situation unfolds, investors closely monitor regulatory actions and CZ's fate. BNB's price will remain volatile, influenced by legal developments, investor sentiment, and market dynamics. CZ's admission of guilt and the massive fine imposed on Binance have shaken investor confidence.

Topic: Will the CZ event affect the price of BNB? (Read 101 times)