It's been a roller coaster month for Binance – first, it was C_Z stepping down as CEO and Binance being fined $4.3B by the DOJ for securities breaches.
If this will prevent another FTX-like situation then it's all good.
The problem is, that regulatory bodies are against crypto as a whole, not just against the lawbreakers.
This won't prevent another FTX-like scenario. In the first place, this huge fine imposed on Binance, the fine on CZ himself, his guilty plea and his huge bail bond aren't about anything else but money laundering and terrorism financing. The fall of FTX had nothing to do with these two. FTX collapsed primarily because of financial mismanagement. So, whatever the DoJ is doing with Binance doesn't really prevent centralized crypto exchanges to fail because of mismanagement.
Regulatory bodies like the SEC are probably changing tune slowly but surely, so this seemingly hostile attitude against crypto would either go away or become selective.
