Will Binance get closed down?

[kogozer714]

I think that every opinion is a truth and a mistake is not entirely, so the vigilance must remain, not waiting because you are disappointed, I cannot imagine that Binance will close their exchange, because it is the biggest exchange, the highest with the largest trading volume.

[ginobitcoiner]

for now it is not possible, I am not sure if Binance must close with this time soon. for whatever reason they must take into account the future of their exchanger.

[disconnectme]

understand US hammer can be thrown anywhere, recently Huawei staff was arrested in Canada on the request by US, and if US need CZ all they need to do is to tell Malta to arrest him and send him over to US. having said all this, one thing I believe is on the side of CZ is money, he is one of the richest guy in the space and can afford top lawyers to defend him, if Ethereum guys can lobby SEC to declare their tokens not  to be a security then CZ IMO can do better

[Akoldi_ibk]

I observe a practice with Binance. They are team of professionals and experts that are always on top of their game and often times, they think and work ahead of what is going on in the space. They've launched new innovations that others are now following suit. I believe if anything closing down is going to happen, they already see it and probably a backup solution is in place. As big as this exchange is, if it gets shut down, the whole market will be down. Am not ready for another long bear.

[komjhq]

I observe a practice with Binance. They are team of professionals and experts that are always on top of their game and often times, they think and work ahead of what is going on in the space. They've launched new innovations that others are now following suit. I believe if anything closing down is going to happen, they already see it and probably a backup solution is in place. As big as this exchange is, if it gets shut down, the whole market will be down. Am not ready for another long bear.

On the contrary, I buy a Binans coin and even believe in its growth over several months. I think that the price will be 30-35 dollars.

Apparently the binance will achieve good results, especially considering the current popularity of the coin.  But I do not like the fact that the administration will be able to control the funds of users and their accounts.  I am always worried about such moments when someone can abuse their position.

[Kay94]

No. I don't think Binance will be closed down because it is backed by experts or professionals. Binance will make it in future. I am very certain about that and I'm going to hold more Binance coins.

[lionheart78]

No. I don't think Binance will be closed down because it is backed by experts or professionals. Binance will make it in future. I am very certain about that and I'm going to hold more Binance coins.

It is possible if US sees and confirmed irregularities on Binance exchange.  If they have a solid proof that Binance commiting fraud to harm its client and/or US interests.  Being backed by experts is not a guarantee that you will escape anything if you are committing fraud or other illegal stuff.  With the case stated by OP, let us just wait and watch what will happen next.  It is better to take precaution than regret later.

[Jose Mourinho]

No. I don't think Binance will be closed down because it is backed by experts or professionals. Binance will make it in future. I am very certain about that and I'm going to hold more Binance coins.

Binance is supported by a solid and professional team, they understand crypto and also have great financial strength so they can make Binance great like their exchange.

[hell_slayer]

Binance also have a fiat to crypto "Jersey "exchange , which operate in absolutely legal way . They are also working on creating a decentralized exchange that will function independently of servers and jurisdictions, so I don’t think they are facing a business shutdown

[Burogh]

Binance also have a fiat to crypto "Jersey "exchange , which operate in absolutely legal way . They are also working on creating a decentralized exchange that will function independently of servers and jurisdictions, so I don’t think they are facing a business shutdown

I am agree, binance already become giant industry in cryptocurrency and i think they already raise big profits from the start. Beside that, binance always comply with regulation and members asked to do KYC to prevent from money laundering

[nicster551]

No, I dont think that Binance will shut down after this small hacking incident. Binance is well prepared, they have so many funds to compensate for that hacked funds. But if Binance got hacked 2-3 times again this year then its time for the new leader in exchanges.

[Iykecollinz]

I hope this is unconnected to the Binance hack of $40M. However I know everything is possible in crypto, if Binance closes down, it will not be the first exchange to have done so, though it may affect the larger crypto community but it will give way for other exchanges to thrive. However untrue this may sound, it is advisable for people to always have a back up funds. Do not leave all you have on Binance or a single exchange.

[Osarman]

To be honest, I can't believe it at all.  Because it is impossible and no one needs.  This is specifically made such news.  To all worried and more PR whether.

Of course, these are just rumors that are created to ordinary people, who understand little about how the market works, start to panic

You will come to know about the truth when you check the user base of Binance. Just see how many people use Binance and you would come to know that it has the most users in the whole crypto arena. Binance is like the leading exchange in the crypto space and it is going to be the monopoly in the crypto space in years to come. How could it be closed or why would people want it to close?

[Nawrod]

I don't think so. It's one of the major exchanges and this is not its first problem. They'll find a way to get through this.
But on the other hand, maybe this time will be different?

[Wintersoldier]

The Fed has closed down exchanges in other jurisdictions in the past. Binance has US customers: This is a NO NO. Craig Wright is no fool and wants Binance out of the picture. Be aware! Maybe hell is coming to Binance: Use them but don’t hold your bags with them: Binance is Malta based but is breaking US Laws and if you think for 5 minutes that the US regulators are not going to take them out you are foolish: Wall Street need Binance and these rogue exchanges out of the way. CZ could do prison time! I would not want to be in his shoes! Binance could be deemed as a money launderer and a tool for terrorism. US regulators and law enforcement have Binance on their radar and will make a move! Opinion!

Whenever they are proven guilty about that matter, I think binance can actually retrieve back their potential and reputation as they are one of the best exchange and that 7000 BTC is just a small glitch on their security, they have much fund to payback their investors and in that way, they can maintain reliability.

[freedomgo]

The Fed has closed down exchanges in other jurisdictions in the past. Binance has US customers: This is a NO NO. Craig Wright is no fool and wants Binance out of the picture. Be aware! Maybe hell is coming to Binance: Use them but don’t hold your bags with them: Binance is Malta based but is breaking US Laws and if you think for 5 minutes that the US regulators are not going to take them out you are foolish: Wall Street need Binance and these rogue exchanges out of the way. CZ could do prison time! I would not want to be in his shoes! Binance could be deemed as a money launderer and a tool for terrorism. US regulators and law enforcement have Binance on their radar and will make a move! Opinion!

Whenever they are proven guilty about that matter, I think binance can actually retrieve back their potential and reputation as they are one of the best exchange and that 7000 BTC is just a small glitch on their security, they have much fund to payback their investors and in that way, they can maintain reliability.

They will only be close if they will not refund the investors, but as their statement, they said, they got it fully covered.
Binance is still operational, though withdrawal/deposit is still not currently working (based on experience), so they continue to make profit and their SAFU funds will be funded again.

[DrDoctor1234]

Binance will be fine, but if regulators get to them I can envisage they may be required to do KYC for ALL transactions (not just above 2 BTC per day).

If that happens... well I won't be using Binance anymore.

[Jating]

Binance will be fine, but if regulators get to them I can envisage they may be required to do KYC for ALL transactions (not just above 2 BTC per day).

If that happens... well I won't be using Binance anymore.

They have moved from Japan to Malta to get away from regulators as far as I remember. So I doubt that regulators can stretch their arms and force them to do KYC or at least requires users or account holders to do so. Unless Malta suddenly turns around, but I doubt that it will happen.

So for now Binance will not be stop even with this hack, they're too powerful now, if you hadn't notice.

[Pamadar]

Binance will be fine, but if regulators get to them I can envisage they may be required to do KYC for ALL transactions (not just above 2 BTC per day).

If that happens... well I won't be using Binance anymore.

They have moved from Japan to Malta to get away from regulators as far as I remember. So I doubt that regulators can stretch their arms and force them to do KYC or at least requires users or account holders to do so. Unless Malta suddenly turns around, but I doubt that it will happen.

So for now Binance will not be stop even with this hack, they're too powerful now, if you hadn't notice.

They've got the business well Manage so for sure they will continue and proceed with business as usual, this hack might give them some doubts but after proving that they've got enough money to covered those loses everything will be back to normal and traders will begin to workout again.

[Yaunfitda]

Binance will be fine, but if regulators get to them I can envisage they may be required to do KYC for ALL transactions (not just above 2 BTC per day).

If that happens... well I won't be using Binance anymore.

They have moved from Japan to Malta to get away from regulators as far as I remember. So I doubt that regulators can stretch their arms and force them to do KYC or at least requires users or account holders to do so. Unless Malta suddenly turns around, but I doubt that it will happen.

So for now Binance will not be stop even with this hack, they're too powerful now, if you hadn't notice.

They've got the business well Manage so for sure they will continue and proceed with business as usual, this hack might give them some doubts but after proving that they've got enough money to covered those loses everything will be back to normal and traders will begin to workout again.

CZ also said that it gave them a valuable lessons. So I think they have a lot of things to improved security wise and it could be a complete overall of their system. He also mentioned about getting some experts. So they are business as usual if they open early next week and allow the exchange to go back to it's normal operations.