No body knows when the balloon will burst and I pray things don't get worse from here, for the company and for the crypto space with his arrest. No doubts, Binance is the biggest cryptocurrency exchange we have out there and should they go bankruptcy as a result of this, it definitely gonna have a short term Negative effect on the market and maybe cause the last sell off before the main bull run we expect.
I hope that Binance and CZ comes out of this case strong, we don't need another contagion event or pain in the crypto space just within a space of 1-2 years, makes no sense.
This binance fuzz is with the US alone I guess, which is one of the 100 nations that their citizens uses the exchange for their cryptocurrency activities. Yeah, I've seen that he violated US laws and some cryptocurrency regulation laws, and as he's given a penalty to pay. He is not even currently in US, so we should be talking about his extradition and not arrest. Would withdrawing of only the US mean the fall of binance as its being projected here??, is it possible to see other countries withdraw patronage simply because they US are being political about the whole issue?.
from my research, binance was founded in China and moved up to malta because of its more acceptance of cryptocurrency activities. Its not even based in US. US happens to be just as business partner. Binance success does not depend entirely on US patronage, I think this is just one of the hurdles that Binance has to pull through and come out stronger.
