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10/06/21 10:53
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By XTRAVAGANZA · Posted
I believe this is nothing but a witch hunt cos apparently Binance is on its way to been the biggest company world over. Also, there are rumours that all this hapenings could be BlackRock making a move to clear the house ahead of the most awaited ETF. Notwithstanding, i took precautionary measures and moved my funds to Bitget and Bybit, better to be safe than sorry yah. -
Crypto industry maybe seen as one of the fastest growing industries in the world today, boasting of a remarkable growth that is capable of making many forget in a hurry all the hurdles it had to beat during its infancy. Although not void of limitations still, no industry is anyways, it has well exceeded early expectations and earned global interest. So scrolling through my Instagram feeds today and seeing the footballing icon and 8th time Ballon d'or winner, Lionel Messi’s post of him celebrating his 1 year anniversary partnership with the crypto exchange, Bitget, I was left reminiscing all the challenges the industry had to overcome to get to where it is today. As a crypto enthusiast who is eager to see the industry reach greater heights, such high-profile partnership thrills me. For one, for the industry to leap further, the issue of lack of trust must be resolved. Lionel Messi well understands his position in his country Argentina as a demi-god, his 500m global followers on IG idolise him. He and his crew must have done their background checks before endorsing the crypto exchange to protect his reputation and also for his followers’ interest. The global reach from this partnership is also a win for the exchange and the industry in general. It portrays the exchange as trustworthy and reliable, and readily welcomes newbies, further boosting crypto adoption. 2009-2023 has been an adventurous journey for the crypto industry, there might have been some tides here and there but the ship is sailing smoothly. Has crypto industry striked mainstream adoption to afford sealing high-profile partnerships like this? -
By collins244 · Posted
Binance's former CEO, Changpeng Zhao, has admitted to violating US anti-money laundering laws, which may result in him facing jail time. This news comes as a surprise to many, as CZ is highly regarded in the industry, unlike some other exchange founders who have been caught engaging in fraudulent activities. The US Justice Department is now seeking a longer prison sentence than the initial 12-18 months and has also denied CZ's request to travel despite his trial starting in February 2024. Following the news of Binance CZ's guilty plea, more than $1 billion was withdrawn from Binance as investors sought out more secure options due to the uncertainty surrounding the exchange and US regulations. This raises the question of how this situation will impact the long-term future of cryptocurrency, as well as which exchanges are best for investors at this time.
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