WHAT HAPPENS TO BINANCE AND CZ?

Author

Mr Brondor
November 22, 2023

WHAT HAPPENS TO BINANCE AND CZ?

Binance, the biggest crypto platform, got in trouble for not following money rules in the US.

The boss, Changpeng Zhao, left his job and admitted not doing enough to stop money problems.

He has to follow strict rules until a court date in 2024.

They might have to pay a huge $4.3 billion fine, but experts think Binance is too important to fail. (The common “too big to fail” narrative).

They have lots of crypto, like $65 billion worth, and millions of users.

A new CEO, Richard Teng, is now in charge, aiming to make things stable and legal.

IMO it will be a good thing for crypto as we need more regulations to reach the mass adoption well desidered,

CZ IMO preferred to pay the penalty of 4.3B instead of making this news comes out in a bull run, and for washing everything for reaching higher highs in the near future.

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