Largest crypto exchange CEO arrested! Anyone getting deja vu?

[2Pizza410000BTC]

I'm still in shock that he accepted such crime but my concern is what will be the effects of this resignation on Bitcoin and the crypto space at large.

I'm even afraid that there could be some hackers in this exchange from now cause CZ really tries to keep people's assets very safe.

CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance

Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free.

I wouldn't use perfect for Richard Teng being the CEO of Binance, though he has a good track record, this doesn't matter when it comes to leadership, I will judge him over time. The best for Binance has ever been CZ, but unfortunately, he has been overzealous and has shamefully excused himself. As for the crypto market, it's not Richard Teng who tamed it, the market naturally reacted the way it should and also the way I expected as this is not about Binance having financial trouble, it's just a matter of the CZ as the head having trouble.

The company is well-liquid with many assets to back it up and stable enough in such that is void of insolvency, so there can't be too much surprise in the market. And of course, they will pay their fine as and when due, this is even as their regulators are not bad to the extent of forcing them to pay the fine of $4.3B at once. They will plan the payment in such a way that will not affect the company, the crypto market and the customer's deposit. So this can't cause any ugly surprise in the market, it happens to financial companies often and they are still fine.

Your point is reasonable and I agree with your point. The new CEO is a seasoned persona with his usual expertise in markets and platforms. I can very well say that Binance CEO CZ will settle every case filed against him at any cost. He never wants his platform to be damaged which is why he accepted his resignation as CEO and sent another CEO. Although many people are afraid of this platform, I am not at all afraid of using this platform. Because very soon the trouble will be resolved. Binance Coin and the Binance Platform will not be harmed.

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[laurenB7742]

I'm still in shock that he accepted such crime but my concern is what will be the effects of this resignation on Bitcoin and the crypto space at large.

I'm even afraid that there could be some hackers in this exchange from now cause CZ really tries to keep people's assets very safe.

CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance

Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free.

I wouldn't use perfect for Richard Teng being the CEO of Binance, though he has a good track record, this doesn't matter when it comes to leadership, I will judge him over time. The best for Binance has ever been CZ, but unfortunately, he has been overzealous and has shamefully excused himself. As for the crypto market, it's not Richard Teng who tamed it, the market naturally reacted the way it should and also the way I expected as this is not about Binance having financial trouble, it's just a matter of the CZ as the head having trouble.

The company is well-liquid with many assets to back it up and stable enough in such that is void of insolvency, so there can't be too much surprise in the market. And of course, they will pay their fine as and when due, this is even as their regulators are not bad to the extent of forcing them to pay the fine of $4.3B at once. They will plan the payment in such a way that will not affect the company, the crypto market and the customer's deposit. So this can't cause any ugly surprise in the market, it happens to financial companies often and they are still fine.

Your point is reasonable and I agree with your point. The new CEO is a seasoned persona with his usual expertise in markets and platforms. I can very well say that Binance CEO CZ will settle every case filed against him at any cost. He never wants his platform to be damaged which is why he accepted his resignation as CEO and sent another CEO. Although many people are afraid of this platform, I am not at all afraid of using this platform. Because very soon the trouble will be resolved. Binance Coin and the Binance Platform will not be harmed.

We have to admit that Binance is really a good platform, even with many challenges and customers withdrawing billions of USD, they still provide enough liquidity for everyone. It can be said that they were great when operating under CZ's direction, but with recent events and CZ is no longer the CEO of Binance. We don't expect them to get into trouble, but we need to be careful in everything. Don't be too subjective because anything can happen, especially centralized platforms can be shut down at any time if a government agency wants to do that.

[leonair]

I'm still in shock that he accepted such crime but my concern is what will be the effects of this resignation on Bitcoin and the crypto space at large.

I'm even afraid that there could be some hackers in this exchange from now cause CZ really tries to keep people's assets very safe.

CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance

Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free.

I wouldn't use perfect for Richard Teng being the CEO of Binance, though he has a good track record, this doesn't matter when it comes to leadership, I will judge him over time. The best for Binance has ever been CZ, but unfortunately, he has been overzealous and has shamefully excused himself. As for the crypto market, it's not Richard Teng who tamed it, the market naturally reacted the way it should and also the way I expected as this is not about Binance having financial trouble, it's just a matter of the CZ as the head having trouble.

The company is well-liquid with many assets to back it up and stable enough in such that is void of insolvency, so there can't be too much surprise in the market. And of course, they will pay their fine as and when due, this is even as their regulators are not bad to the extent of forcing them to pay the fine of $4.3B at once. They will plan the payment in such a way that will not affect the company, the crypto market and the customer's deposit. So this can't cause any ugly surprise in the market, it happens to financial companies often and they are still fine.

Your point is reasonable and I agree with your point. The new CEO is a seasoned persona with his usual expertise in markets and platforms. I can very well say that Binance CEO CZ will settle every case filed against him at any cost. He never wants his platform to be damaged which is why he accepted his resignation as CEO and sent another CEO. Although many people are afraid of this platform, I am not at all afraid of using this platform. Because very soon the trouble will be resolved. Binance Coin and the Binance Platform will not be harmed.

We have to admit that Binance is really a good platform, even with many challenges and customers withdrawing billions of USD, they still provide enough liquidity for everyone. It can be said that they were great when operating under CZ's direction, but with recent events and CZ is no longer the CEO of Binance. We don't expect them to get into trouble, but we need to be careful in everything. Don't be too subjective because anything can happen, especially centralized platforms can be shut down at any time if a government agency wants to do that.

I have never seen another super exchange like Binance.  Because it is suitable enough to trade here.  And it always provides huge amount of liquidity so even if you withdraw billions of dollars they will help you withdraw it very quickly.  CZ was a very smart guy and managed to build Binance into such a platform. But there is no doubt that he will give the responsibility of CEO of such a platform to a competent person.  So I think binance will continue at the same pace and pace now and in the future. Due to this, even after the change of CEO of Bimance, no major negative effects were seen here.

[coinremitter]

Indeed, the crypto space has seen instances like Bitmex before. Regulatory actions can trigger short-term turbulence, but past patterns suggest recoveries and even bull runs. Stay informed, diversify, and monitor market sentiments. History may rhyme, but every situation is unique. Stay resilient and informed, fellow crypto enthusiasts!

[Franctoshi]

No body knows when the balloon will burst and I pray things don't get worse from here, for the company and for the crypto space with his arrest. No doubts, Binance is the biggest cryptocurrency exchange we have out there and should they go bankruptcy as a result of this, it definitely gonna have a short term Negative effect on the market and maybe cause the last sell off before the main bull run we expect.
I hope that Binance and CZ comes out of this case strong, we don't need another contagion event or pain in the crypto space just within a space of 1-2 years, makes no sense.

[fuguebtc]

No body knows when the balloon will burst and I pray things don't get worse from here, for the company and for the crypto space with his arrest. No doubts, Binance is the biggest cryptocurrency exchange we have out there and should they go bankruptcy as a result of this, it definitely gonna have a short term Negative effect on the market and maybe cause the last sell off before the main bull run we expect.
I hope that Binance and CZ comes out of this case strong, we don't need another contagion event or pain in the crypto space just within a space of 1-2 years, makes no sense.

You don't need to be too pessimistic, what CZ and Binance are going through is completely different from what SBF and FTX are doing to us so we don't need to worry too much. CZ pleaded guilty and was willing to pay the fine and resign so that Binance could continue to grow. That shows that he sacrificed to save Binance and did not want to cause too much impact on the market. Personally, I feel sad that CZ is no longer the CEO of Binance and I am not too pessimistic that they will destabilize the market the way SBF and FTX did.

I believe that after this incident , Binance will be even stronger because it fulfilled its mission excellently even when there were challenges.

[DubemIfedigbo001]

No body knows when the balloon will burst and I pray things don't get worse from here, for the company and for the crypto space with his arrest. No doubts, Binance is the biggest cryptocurrency exchange we have out there and should they go bankruptcy as a result of this, it definitely gonna have a short term Negative effect on the market and maybe cause the last sell off before the main bull run we expect.
I hope that Binance and CZ comes out of this case strong, we don't need another contagion event or pain in the crypto space just within a space of 1-2 years, makes no sense.

This binance fuzz is with the US alone I guess, which is one of the 100 nations that their citizens uses the exchange for their cryptocurrency activities. Yeah, I've seen that he violated US laws and some cryptocurrency regulation laws, and as he's given a penalty to pay. He is not even currently in US, so we should be talking about his extradition and not arrest. Would withdrawing of only the US mean the fall of binance as its being projected here??, is it possible to see other countries withdraw patronage simply because they US are being political about the whole issue?.
from my research, binance was founded in China and moved up to malta because of its more acceptance of cryptocurrency activities. Its not even based in US. US happens to be just as business partner. Binance success does not depend entirely on US patronage, I think this is just one of the hurdles that Binance has to pull through and come out stronger.

[larry_vw_1955]

m what i read he was charged a week ago and made a deal to plead in exchange for a cash settlement(punishment) to avoid jail/prison/extradition

a whopping $4.3billion penalty for binance and $50m for CZ personally

CZ has to pay his $50m plea settlement between now and february to get a reduced sentance (from years) to be instead 10-18months

should be more like 25 years in my opinion.

CZ's "crimes"
1. operating a money transmitter service
2. not registering a money transmitter service
3. facilitating money transmits to iran

those arent crimes? i bet there's people doing 10 year sentences for just doing one of those in the above list.