What makes Binance stay strong despite all FUD ?

[disconnectme]

It is a simple answer, no real competition, FTX is dead, Houbi, OKX, and MEXC  name it, are no match for Binance, CoinBase has issues, good for US citizens but Asians and Africans don't trade there, Bifinex and Bitmex are ghosts of what they used to be. People better pray that Binance remains standing because I don't see any exchange that can fill that role for now and if it falls it will set the whole space back years to build another exchange of that value

[1715559218]

1715559218

[1715559218]

1715559218

[1715559218]

1715559218

[kotajikikox]

There is nothing short of FUDs in the crypto market especially for big names such as Binance.

With this statement you have already your answer , and all those has big names are facing this same case.
not even Binance and other platforms that serves crypto users.

this certainly explains everything why Binance stays stronger than before

 Recently there are so many accusations about Binance and even the U.S Senator has inquired.

they can throw stones here and there against Binance , but surely ? unless they will sue without proper cases/law then Binance will never fall that low.

According to Binance's response https://www.binance.com/en/blog/ecosystem/binance-shares-its-recent-response-to-us-senators-inquiry-1968152125579137703 ,

are those explanation isn't enough to address all their concerns?

[bittraffic]

^ CZ is already skeptical to what Us regulators and doing whether they are really up to make a definite regulations on crypto and Binance seem to be political tool already. Even if US senate call for CZ , he will not appear to a hearing. Thats why he is in hiding.

Binance is close to too big to fail company and as long as CZ can dodge authorities, he will hide and Binance continues to gain trust.

[fullhdpixel]

^ CZ is already skeptical to what Us regulators and doing whether they are really up to make a definite regulations on crypto and Binance seem to be political tool already. Even if US senate call for CZ , he will not appear to a hearing. Thats why he is in hiding.

Binance is close to too big to fail company and as long as CZ can dodge authorities, he will hide and Binance continues to gain trust.

Regulation is not new in crypto but is binance not regulated yet? Not appearing to a hearing has some certain consequence and that was very unprofessional as a respected person in the crypto space. He don't need to hide but he can just face this and know if what is really the problem so that the issue will come to an end. Hiding will only look like he is guilty on what is being accused to him.

Binance is not close to too big but it was already the biggest crypto exchange. It does not mean that they can't fail anymore. Just look at other big crypto companies before Binance. They are now gone. Dodging the authorities doesn't look like a cool move and this might affect the people's trust towards them.

[timoshani]

It is a simple answer, no real competition, FTX is dead, Houbi, OKX, and MEXC  name it, are no match for Binance, CoinBase has issues, good for US citizens but Asians and Africans don't trade there, Bifinex and Bitmex are ghosts of what they used to be. People better pray that Binance remains standing because I don't see any exchange that can fill that role for now and if it falls it will set the whole space back years to build another exchange of that value

But Binance has lost a certain segment due to the need to impose sanctions on citizens of a number of countries. At the same time, other exchanges are more loyal. We all forgot about Bittrex, Pholoniex. But they were one of the first. Of course, Binance is now a kind of monopolist. And before the shocks on it were reflected in the market.

[Slow death]

the answer to that question in my opinion lies in the fact that binance is an exchange where its owner CZ never hid himself, on the contrary he was always active and always solved problems without hiding his face, this in a market where people they were anonymous because they were afraid of governments and it was easier to be anonymous because when the exchange went bankrupt it could easily disappear, so see the big difference is in the fact that CZ is not anonymous, even if they say something negative about binance, its owner is CZ he comes personally to answer questions or problems when the public has a problem

just see that the owner of binance also created his altcoin BNB and acquired coinmarketcap and see that he has improved a lot since he bought it in 2020, what has happened to other people who create exchange and how they hide because they are afraid to face the governments and people when something goes wrong then exchanges are not trusted because when something goes wrong they will disappear. we also have to take into account that CZ has been in the exchange market for a long time, he has a very high level of experience, it makes sense that people trust him more and not let themselves be shaken by any negative news

[Weezenhofnar]

It's true that Binance has been facing a lot of scrutiny and accusations lately, but their response to the US Senator's inquiry shows that they are working to clarify any misconceptions. Binance's success could be attributed to their strong user base, global reach, and diversified offerings.

It's also worth noting that their Binance US platform has been performing well, despite the regulatory challenges. The stability of BNB's price could be a reflection of the market's confidence in Binance's ability to weather the storm. Ultimately, time will tell how these challenges will affect Binance's long-term success, but for now, they seem to be holding strong.

[kevindjunaidi]

because Binance is one of the best altcoin at the moment and has popular projects (blockchain, exchange, launchpad/launchpool), so that's what keeps Binance strong and many people still support Binance (invest in Binance for the long term and make Binance can survive until whenever).

[blockman]

because Binance is one of the best altcoin at the moment and has popular projects (blockchain, exchange, launchpad/launchpool)

Binance is the exchange, and BNB is the altcoin that they've got. And yes, they've got enticing projects that's making the rounds on their exchange thus, made them one of the most popular exchange out there.

so that's what keeps Binance strong and many people still support Binance (invest in Binance for the long term and make Binance can survive until whenever).

You invest in their coin and not in the exchange itself. You invest in their BNB and that's if you believe that they've got a successful project and exchange running for which it's truly visible that they've got a known exchange and many traders and investors are going there. Their launchpool and other features are getting a lot of liquidity and that's why many chooses to keep their funds there and let it alone work for them. But, that's not an advisable thing if that's the only fund you have. Always remember to only do that with the amount you afford to lose because "not your keys, not your coins".

[flying_bit]

Binance's success can be attributed to a combination of timing, user-friendly interface, security, innovation, and strategic partnerships, which have allowed the exchange to adapt and thrive in a rapidly changing industry.

But to be honest, I think it's the Strategic partnerships that led  Binance to be this big and strong. Binance has formed partnerships with other companies and organizations in the cryptocurrency space, such as CoinMarketCap and Trust Wallet, which has helped to expand its reach and increase its user base.

[josephsonand]

It's true that there's been a lot of FUD surrounding Binance lately. While we're discussing strong platforms, have you heard about the XGo Referral program? It offers an opportunity to earn bonuses by inviting friends to join XGo. Despite the challenges, Binance  and other platforms like XGo showcase the community support they continue to receive.

[davide72]

There is nothing short of FUDs in the crypto market especially for big names such as Binance.  Recently there are so many accusations about Binance and even the U.S Senator has inquired. According to Binance's response https://www.binance.com/en/blog/ecosystem/binance-shares-its-recent-response-to-us-senators-inquiry-1968152125579137703 , there are some public misconceptions about Binance and the team had already clarified. When I read the news, the first thing came to my mind was that BNB price was doomed to decrease dramatically. However, Binance US's weekly trading volume reached 41% of Coinbase's (global) trading volume last week, which is an ATH. (Source:https://twitter.com/cz_binance/status/1641728341962096641). At the same time, BNB price is still around $320, showing very little volatility. What makes Binance so strong faced with so many unfavorable conditions ? Please share your opinions.

Everything will be ok, Binance has so much money much of which is earned dirty, it is surely soon everything will be ok these news only serve to sell your bitcoins ... They are old stories not sold hold on. You'll thank me later

[|MINER|]

It is a simple answer, no real competition, FTX is dead, Houbi, OKX, and MEXC  name it, are no match for Binance, CoinBase has issues, good for US citizens but Asians and Africans don't trade there, Bifinex and Bitmex are ghosts of what they used to be. People better pray that Binance remains standing because I don't see any exchange that can fill that role for now and if it falls it will set the whole space back years to build another exchange of that value

The matter actually happened much like this.  Because people have to use centralizer changers to exchange currencies and among them currently Binance has gone to a position where people are not getting any other better option for investment or trading and I think that's why people depend on it despite the various fuds it has. Meanwhile, since the FTX crash a few days ago, people can't trust anything other than Binance, which has also become a plus point for Binance. But besides Binance, Coinbase has developed a good reputation. I think if Binance fails for some reason, then Coinbase will stand in its place.

[Zee27]

It is a simple answer, no real competition, FTX is dead, Houbi, OKX, and MEXC  name it, are no match for Binance, CoinBase has issues, good for US citizens but Asians and Africans don't trade there, Bifinex and Bitmex are ghosts of what they used to be. People better pray that Binance remains standing because I don't see any exchange that can fill that role for now and if it falls it will set the whole space back years to build another exchange of that value

The matter actually happened much like this.  Because people have to use centralizer changers to exchange currencies and among them currently Binance has gone to a position where people are not getting any other better option for investment or trading and I think that's why people depend on it despite the various fuds it has. Meanwhile, since the FTX crash a few days ago, people can't trust anything other than Binance, which has also become a plus point for Binance. But besides Binance, Coinbase has developed a good reputation. I think if Binance fails for some reason, then Coinbase will stand in its place.

Have you considered that both Binance and Coinbase are currently dealing with regulatory challenges? This is surprising because we have seen other exchanges, which are not as large as Binance, comply with regulatory authorities. I believe that if Binance or Coinbase do not address the ongoing SEC issues, some of their investors, especially those in regions like Canada where Binance no longer operates, may switch to alternative exchanges such as Bitget, which offers comparable services. Binance needs to develop a strategy to address this issue.

[kevinzxz]

because people still believe in Binance and of course the community from Binance is very strong, so investors don't really care about the fud that is happening on Binance, especially now that Binance has the biggest exchange and the best blockchain, so that's what makes investors trust to invest and hold Binance for the long term and I am also one of those who believe to investing in Binance.

[passwordnow]

because people still believe in Binance and of course the community from Binance is very strong, so investors don't really care about the fud that is happening on Binance, especially now that Binance has the biggest exchange and the best blockchain, so that's what makes investors trust to invest and hold Binance for the long term and I am also one of those who believe to investing in Binance.

Binance is good in setting the emotion of their users and that's why whenever there's a ruckus made by them or by someone outside their affairs, they're able to control the crowd by setting the mood and assuring that everything is fine. That's why they're able to celebrate their milestone and how long they've been right now 5 years? That's already a long span for an exchange knowing that there have been a lot of troubles in the market and problems that they've faced.

[Vivageneviv]

The fud is getting more intense and it's never good for Binance reputation. If there's one thing we all know in this space is that monopoly doesn't thrive here so the earlier they brace up the better for them, especially with other top rated CEXs like Coinbase and Bitget now offering a lot in terms of security and general crypto trading experience.