Binance is reported by Senator Cynthia Lummis

[pixie85]

Binance is different than FTX. At least they proceed billions of user withdrawals smoothly and their exchange did not collapse after a few days like FTX because of insolvency. I don't know what will happen with Binance in future but based on the past, they are better than FTX.

They will surely comply with regulations if they want to keep their business running and I really believe they will not want to shut down their profitable business. Comply with governments and get more money from business operation is good enough for Binance.

The lawsuit from the Senator is not like FTX case.

It's not difficult to be better than FTX.
FTX was a clear scam and SBF was stealing customer's money.

You might not know this, so I urge you to read some court documents. In short, SBF spent 15m dollars on a flights alone while maintaining the image of an overworked genius who wears shorts and drives a Toyota. He also gave 10m as a gift to his parents, money that most likely belonged to FTX customers and was never returned after the bankruptcy.

Binance might be in trouble due to mismanagement and still be better than FTX by not being a scam.

[TimeTeller]

Binance has been into many controversies that's all about legalities and not with their own thing. Despite that, we're still using them.  

It's not just all about its popularity but I guess wherever is the huge volumes can be found, we're also there whether it is centralized or decentralized, with controversies or with active cases or none, etc.

I am not digging about this issue because I am expecting more like this to come.

If we have noticed, authorities have been long at it towards binance, but nothing solid yet has been published towards this exchange.
Something that will put their traders to stop using this exchange, but instead users are continuously using this platform.
It goes to show that people still trust this exchange despite of those news surrounding their business.
Maybe because binance knows what they are doing and they are taking care of their customers by not screwing their funds for one.

[jeraldskie11]

Binance has been into many controversies that's all about legalities and not with their own thing. Despite that, we're still using them.  

It's not just all about its popularity but I guess wherever is the huge volumes can be found, we're also there whether it is centralized or decentralized, with controversies or with active cases or none, etc.

I am not digging about this issue because I am expecting more like this to come.

If we have noticed, authorities have been long at it towards binance, but nothing solid yet has been published towards this exchange.
Something that will put their traders to stop using this exchange, but instead users are continuously using this platform.
It goes to show that people still trust this exchange despite of those news surrounding their business.
Maybe because binance knows what they are doing and they are taking care of their customers by not screwing their funds for one.

There have already been numerous accusations raised against Binance, which should come as no surprise. Because Binance is the only exchange with millions of users, it's normal for that kind of news to influence the exchange's price. Of course, those manipulators will not use a less popular exchange because they know it will have little effect on the price, allowing them to benefit more from it. I believe that more accusations will be leveled against the Binance exchange in the future.

[Synchronice]

~

I don't understand what's the point, do we want privacy, anonymity and decentralization? Well, Binance is not a great choice but isn't it good if they let everyone to use their service and make it as accessible as possible without implementing further restrictions and blocking someone due to someone's forced regulations?

It's about double standards and whataboutism!
If you think Binance not disclosing its activities and the activities of its users is great for privacy then you have absolutely no problem with banks and their off-shore accounts also you're against things like "Panama papers" where such things are disclosed, right? Cause...privacy!

I am not saying that Binance does anything good for your privacy. I just like the fact that they provide service for everyone because who is there to judge? Everyone has their own interest and there is only dishonesty involved from every country. By the way, I know Binance does that to further profit as much as possible and don't give a f anything else but it is what it is. I just say that if we want equality and vote for DEX, we have to keep in mind that DEX doesn't judge anyone. It's kinda double standard to criticize binance for that.

People see this the wrong way, Binance is free to serve NK, Iran wherever they want, the simple thing is that once they do they have to assume they won't be doing business in other countries, from an exchange that fled China then Singapore then Japan then Malta while bragging about non-existent licenses it's a pretty rich stance.

Binance CEO is a great problem solver, I have to admit that, I am amazed.

[Best-mary]

that's the accusation that the senator dropped for binance and has been reported,
 what do you think?

Binance will simply comply and I know they will but for me this is just clearly a FUD again especially to those who was close to SBF and FTX. I don't think it was a coincidence that the lawsuit on timing when Bitcoin is making some moves. Tether has already released their statement and I couldn't agree more.
https://tether.to/en/tether-reinforces-stance-against-cryptos-terrorist-utilization-urges-governments-to-fact-check-mainstream-medias-misinterpretation-of-data/

I don't know why every time what most people decide to do on the internet is to FUD exchanges.

If I was still new to the system, I wouldn't have in-depth knowledge and easily listen to what people say. And I'm sure that's the feeling most have right now

[cryptoaddictchie]

Binance might be in trouble due to mismanagement and still be better than FTX by not being a scam.

Well I doubt they will easily go down just like that. Since they have a lot of customers and probably the best exchange out there. He got some issues on legal matters which is clearly a must face and thats what they doing as Ive seen it. But of course its all in a matter of who is right there in the end. If theres violation in the case of Binance then so be it they must be punished. But if ever they cleared it people will continue to support and used it.

[so98nn]

• that's the accusation that the senator dropped for binance and has been reported,
   what do you think?
  
   

Nothing, if there is a bomb that is getting dropped on a private island north of the Pacific Ocean then its because Binance was involved with it. If there is a fire that broke out in the middle of Australia then it's Binance who went there and lit the illegal cigarette that turned into a wildfire.

Are you guys getting where this is going? All the time man, if there is something bad happening around the world then Binance has got something to do with it. This is now a big joke on which no one can laugh anymore. That's how boring the news of negativity of Binance is going worldwide. First, they sued Binance from the US for not following all the rules and regulations that were honestly strict and imposed to make Binance go out of the way.

In similar ways, now the Hamas and Israel war is due to the reason Binance exists. Wtf.

So it's not the American government that is providing the warheads to Israel or maybe some other country that is providing food and water? Everyone straight has to go and slap Binance. Oh what a misery.  

[boyptc]

Binance has been into many controversies that's all about legalities and not with their own thing. Despite that, we're still using them.  

It's not just all about its popularity but I guess wherever is the huge volumes can be found, we're also there whether it is centralized or decentralized, with controversies or with active cases or none, etc.

I am not digging about this issue because I am expecting more like this to come.

If we have noticed, authorities have been long at it towards binance, but nothing solid yet has been published towards this exchange.
Something that will put their traders to stop using this exchange, but instead users are continuously using this platform.
It goes to show that people still trust this exchange despite of those news surrounding their business.
Maybe because binance knows what they are doing and they are taking care of their customers by not screwing their funds for one.

Yeah,

They are too strict with Binance and that's why these incidents will keep coming to them and that's also the reason why they just made a decision to just leave that market for them.

Let alone the other big exchanges dominate that market for them while focusing on the region where there's no too strict policies that are being striked on them.