Binance In Trouble?

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In this video, I discuss whether the crypto exchange Binance is close to blowing up like FTX did.

There has been a coordinated attack on BUSD by the SEC and NYDFS, perhaps in an effort to destroy a major profit center for Binance.

If investors lose faith in BNB (the Binance equivalent of FTT for FTX), Binance may not have enough assets to return all customer deposits.

A Wall Street Journal article suggest that the ties between Binance Global and Binance US are much closer than previously thought-- including possibly sharing US customer data and a common US bank account.

For all of these reasons, Binance may fail if the SEC decides to move against CZ.

I think it's much safer to use a Bitcoin-only exchange like Strike, Swan Bitcoin, or River Financial (I'm not affiliated with or compensated by any of them).

Withdraw your BTC immediately after purchasing it and store it on a hardware wallet like the Blockstream Jade or ColdCard.

Not investment advice! Consult a financial advisor.

US Justice Dept Mulling Criminal Charges Against Binance Founder CZ:
https://decrypt.co/116961/us-justice-dept-mulling-criminal-charges-against-binance-founder-cz-report

Paxos receives a Wells notice re BUSD:
https://paxos.com/2023/02/13/paxos-issues-statement/

Coinbase delists BUSD:
https://decrypt.co/122280/coinbase-delist-binance-usd-stablecoin

Binance.US Is Operating 'Unregistered Securities Exchange,' SEC Official Says:
https://www.coindesk.com/policy/2023/03/03/sec-official-says-binance-us-is-operating-unregistered-securities-exchange/

Pressure grows on Binance:
https://www.nytimes.com/2023/03/06/business/dealbook/binance-regulators-crypto.html

Binance Team Fretted Over Binance.US Ties, Tried to Recruit Gary Gensler:
https://decrypt.co/122739/binance-team-fretted-over-binance-us-ties-tried-to-recruit-gary-gensler-wsj

Crypto exchange Binance reportedly had secret access to its US arm’s bank account:
https://www.cnn.com/2023/02/17/business/crypto-binance-changpeng-zhao/index.html

BUSD:
https://coinmarketcap.com/currencies/binance-usd/

BNB:
https://coinmarketcap.com/currencies/bnb/

For Binance, all customer assets are liabilities:
https://twitter.com/coryklippsten/status/1632565745338191873

Binance Urges Industry-Wide Action to Boost Trust in Crypto:
https://decrypt.co/121827/binance-urges-industry-wide-action-to-boost-trust-in-crypto

DeFi receiving Wells notices?
https://twitter.com/DylanLeClair_/status/1631745525170012178

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#binance
#busd
#bitcoin

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