Yet another saga looming to hit bitcoin.

[Ketesnuko]

The market is back in good shape already, if the government have any other shot left they should take it, we are still in a bear market now, I don't want any bad news when the market starts gearing up for the next bull market, CZ will survive and I can bet it will anyone CZ is the best man alive, and the US will regret treating him this way.

[FrozenBit]

I see some things like this as the market gets bigger, but cryptobanks and decentraline banks, not to mention how tech unicorns care about the market after events like the collapse of traditional banks is what we're seeing. The leading binance will also be squeezed in terms of market share and the competition is understandable. I just hope that binance has the strength to withstand these things and grow in a more sustainable way.

[nimogsm]

These are not the first problems for Binance there were similar cases when the regulator tries to control everything.It is obvious that after the collapse of the FTX,other exchanges will be under close control, and this has both minuses and pluses.From the last thing I personally liked is that the exchanges made public reports on their reserves.I think that Binance will be fine and they will be able to negotiate with the regulators.

[taufik123]

These are not the first problems for Binance there were similar cases when the regulator tries to control everything.It is obvious that after the collapse of the FTX,other exchanges will be under close control, and this has both minuses and pluses.From the last thing I personally liked is that the exchanges made public reports on their reserves.I think that Binance will be fine and they will be able to negotiate with the regulators.

and there's nothing else for a centralized Exchange to cover because they have to provide a full report on their backups.
The collapse of FTX is indeed a dark event for the crypto world, but behind that, there are several positive things that can make Exchange management more transparent. Binance is currently the most popular Exchange and besides that Binance gives a full guarantee to its users with their SAFU funds.

If Binance can negotiate well with the Regulators, it is not impossible that Binance will start a new and more controlled chapter.

[robattfield]

It has affected the market and scared many people, but I realized one thing about the market when in the face of continuous bad news the market still maintained and recovered. I see that people's confidence in this market is increasing day by day that is reflected in the price and other indicators that I am observing.
But it's understandable when seeing the market leaders being overlooked by the group, perhaps the competition in this market is still very small.

[Bananington]

I noticed that the news affected bitcoin price as it dropped below $27000 but gradually picked up back above $27000.  So far from my experience I have had on this space, cases like this tends to affect bitcoin as binance is the world leading Crypto exchange and also have influence over the Crypto community and market.

Do you think this saga would affect the bitcoin if it looms?

The effect on bitcoin was noticeable when the news was still very fresh. Another time to prepare for is when the court begins the case and pass a judgement on the matter. This kind of saga has the ability to worry the exchange more as they are already experiencing than it will to bitcoins, but a little effect will be recorded to bitcoin. Bitcoin cannot be affected by just one event massively, it will take a couple of events or a series of events for the price of bitcoins to be really affected negatively. I hope that at the time of the court judgement, another negative event will not occur that will join up with this to contribute to a downward movement for the value of bitcoins.

[gabbie2010]

I noticed that the news affected bitcoin price as it dropped below $27000 but gradually picked up back above $27000.  So far from my experience I have had on this space, cases like this tends to affect bitcoin as binance is the world leading Crypto exchange and also have influence over the Crypto community and market.

Do you think this saga would affect the bitcoin if it looms?

The effect on bitcoin was noticeable when the news was still very fresh. Another time to prepare for is when the court begins the case and pass a judgement on the matter. This kind of saga has the ability to worry the exchange more as they are already experiencing than it will to bitcoins, but a little effect will be recorded to bitcoin. Bitcoin cannot be affected by just one event massively, it will take a couple of events or a series of events for the price of bitcoins to be really affected negatively. I hope that at the time of the court judgement, another negative event will not occur that will join up with this to contribute to a downward movement for the value of bitcoins.

Well Binance CEO Changpeng Zhao had defended the exchange on US citizens who are users of Binance and had been denied access to the exchange thus it left to the exchange lawyers to prove that statement and defend it in the court when the case come up for hearing, I don't see any reason for the accusations now when Binance says they had been working with CFTC for more than two years without any issues, however whenever the cases is issued for hearing I don't think it will have any impact on the price of Bitcoin because there are millions of cryptos users outside the US thus that singular action by US court wouldn't affect the price.

[jrrsparkles]

Anyone remembered FTX which is almost similar to Binance but it didn't affect the price of bitcoin in long term so the issues related to exchange may create temporary fall in the prices of cryptocurrencies but its fall of company not the cryptocurrency so don't worry about those issues related to regulators and Binance.

[Cookdata]

The market is back in good shape already, if the government have any other shot left they should take it, we are still in a bear market now, I don't want any bad news when the market starts gearing up for the next bull market, CZ will survive and I can bet it will anyone CZ is the best man alive, and the US will regret treating him this way.

I don't believe we are in a bear market, bitcoin was trading above $29k yesterday after a long winter, and we are now back in the accumulation zone, which is the median between bull and bear, and now that the US government sees that the market is gaining momentum and attracting public attention, they are afraid that people who left will return, and some people are waiting for the bull run to begin so they can have the courage to start trading.

The US, as usual with their dirty tricks, would do whatever to tame the market. I have so many questions for the whole CZ because why didn't they probe him last year when things were rough? We are back and stronger this time, but they want to exploit that to suppress the market.

[serjent05]

It has affected the market and scared many people,

From my obesrvation, it does not affect the market at all.

but I realized one thing about the market when in the face of continuous bad news the market still maintained and recovered.

The market movement when the news is released is just a normal movement where people taking profit when certain price is reached.  So the sudden drop of bitcoin price is more possibly due to the people taking profit and it was easily replenished since price goes back and recover easily, even touching $29k  before another batch of traders sells for profit.

I see that people's confidence in this market is increasing day by day that is reflected in the price and other indicators that I am observing.
But it's understandable when seeing the market leaders being overlooked by the group, perhaps the competition in this market is still very small.

Bitcoin liquidity is well established and most weak hands are already shaken.  People who are holding BTC now have more faith on Bitcoin than in what the government institution announces and issues.

[AmoreJaz]

Anyone remembered FTX which is almost similar to Binance but it didn't affect the price of bitcoin in long term so the issues related to exchange may create temporary fall in the prices of cryptocurrencies but its fall of company not the cryptocurrency so don't worry about those issues related to regulators and Binance.

it may have short impact on the market, but btc always bounces back. whatever issues or failure we have witnessed, so far, btc remains its top position. we experienced a roller-coaster ride but as we've seen, btc is still here. a lot of alts died along this journey. up until now, if you want long-term crypto investment, i can say, you can count on btc. there's may be an impending worst situation, but that will just be one of the bottlenecks that btc can surpass.

[Fivestar4everMVP]

I've been following this news for some time now and I must admit that it is worrisome, not for the bitcoin OGs who have mastered the act of hodling through every storm, and even using the storm as a period to acquire even more bitcoins at a cheaper rates.

My worry is for the new investors and potential investors who are still looking, what impression this would give them about the market, if for any reason, binance allows this to linger on to possibly turn into a crises, bitcoin price, as well as the entire market will be greatly affected, but on a personal level, it's nothing to worry about, bitcoin will always come back stronger and better at the end of every feud.

Though I trust CZ won't let this matter linger into possibly turning into a major crisis that would affect the market, he will see to it that is is resolved soon enough.

[KingsDen]

It has affected the market and scared many people, but I realized one thing about the market when in the face of continuous bad news the market still maintained and recovered. I see that people's confidence in this market is increasing day by day that is reflected in the price and other indicators that I am observing.
But it's understandable when seeing the market leaders being overlooked by the group, perhaps the competition in this market is still very small.

Indeed people's confidence in the crypto-currency market has increased drastically. When I was relatively new in the crypto world, I always panic whenever I hear news of this kind especially when it is related to exchanges, but after a while I   researched on my own, base on my own personal research and conviction, CZ binance will always be here for the cryptocurrency industry. There is no kind of fud that will bring it down. I mean the owner of Binance is very smart.

Binance is actually working with some government of the world. And there is a secret agreement between him and the government. Besides that,  he is always proactive to what is happening in the market. If something happens to the Binance, the market would be impacted so long, but I assure you nothing and absolutely nothing is happening to Binance.