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Author Topic: Binance under scrutiny by the SEC...Will BNB survive?  (Read 34 times)
Abiky (OP)
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June 08, 2022, 11:20:03 AM
 #1

It seems like the US' SEC is now investigating Binance for allegedly doing money laundering practices. If proven to be true, this could be a huge blow to CZ's exchange as we speak. Not only will this affect Binance's exchange reputation but also it's very own cryptocurrency (as well as the rest of the crypto market). With Binance controlling most of the crypto market, any bad news like these could mean a bloodbath in crypto prices within the short term. BNB is known to be centralized (even though many claim it to be decentralized), so it's possible the cryptocurrency will vanish if things go the wrong way.

What do you think about these latest developments? Will the SEC succeed in its case against Binance? Or will it fail? Do you think BNB will still survive? If not, why? Your input will be greatly appreciated. Thank you very much. Smiley

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June 08, 2022, 01:35:53 PM
 #2


It's too early to expect SEC will be succeed in this case, There must be more confirmation whether SEC was taking action against binance or not. We do know that there are so many FUD in the market right now. Im thinking about that already published by some press was not true. If SEC was winning the case and it will be the same like what happened with KIN token. Binaance just need to pay the fine. BNB is still survive and SEC was nothing for binance.
Binance has a very big ecosystem in the crypto market and it's even expanding even more.



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Abiky (OP)
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June 09, 2022, 12:56:20 AM
 #3

It's too early to expect SEC will be succeed in this case, There must be more confirmation whether SEC was taking action against binance or not. We do know that there are so many FUD in the market right now. Im thinking about that already published by some press was not true. If SEC was winning the case and it will be the same like what happened with KIN token. Binaance just need to pay the fine. BNB is still survive and SEC was nothing for binance.
Binance has a very big ecosystem in the crypto market and it's even expanding even more.

Binance has a lot of money, so it won't have any problems paying the fine. If the money laundering situation turns out to be true, then BNB could suffer a huge blow in its price within a short amount of time. That's because investors/traders will be skeptical dealing with something that's been linked with illegal activities. I just hope Binance doesn't turn into another Mt. Gox 2.0. Otherwise, crypto market prices will dive like crazy. Ultimately, what matters is decentralization. As long as decentralization wins, there should be nothing to worry about. Just my opinion Smiley

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.
 Catch the winning spirit! 
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PROGRESSIVE
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