Binance CEO don plead guilty to Money Laundering, Wetin go do Binance now?

[Gormicsta]

Binance don make correct name and don lay down correct legacy as di best exchange wey don gain worldwide trust. Everybody dey feel secure with Binance. Just yesterday,  CZ wey be CEO and Founder of Binance, don talk say e guilty to violate money laundering rules. E don agree say e go pay one fine of $50 million. and also agree say e go step down as the CEO as part of the guilty plea. And that same yesterday CZ don officially resign and e don bid bye bye to en office as the CEO of Binance, although e still make himself accessible to the company say them fit still consult am anytime at all. You go also like to know say Binance sef don Plead guilty and dem charge dem. Dem don also gree say dem go pay fine of $4.3 billion and dem go do restitution to the government join. E be like say the matter don serious well well.. Now my concern be say, e be like say the future of Binance dey uncertain. With all the tension and negative news wey surround the company, e possible say e go hard for dem to survive. Even if dem don name new CEO, people still dey withdraw their money from the exchange because of fear say the exchange fit crash, e fit affect Binance seriously. The tragedy and the bad publicity fit make people lose trust for the company, and this go affect how people take see and trust the exchange. We no fit talk for sure wetin go happen, but Binance go need find way take handle this matter and try regain the trust of their users. Wetin you think for this matter?

[Amphenomenon]

The truth be say I nor first trust CZ, he dey everything to gain more the Stori way them don talk about am I know e dey deeper than this because he nor just fit Resign like this. Most of us for local board dey use binance but I go advice make we find another alternative to binance for trading and p2p. If binance na be your only trusted place for p2p, be like say CryptopreneurBrainboss fit help out for here (nor go do p2p with person way you know or trust), remember say physical meeting for p2p don cast, so dey cautious of who you dey do p2p with o

[Odohu]

This very one weak me o. Binance na very important exchange for Naija and boys don use Binance create job for themselves.  The P2P service alone na one area that plenty people use to survive as e dey show for the volume of transaction wey dey happen there. Now wey this thing don be like this, how people go take do am?

As be like this, people mind no go strong to trade there again, even the merchant them go don dey think twice now. Massive withdrawal fit hit the exchange and that one fit make them collapse.  This matter done bring the issue of FTX come for people mind.

I no know why e go be now this kind thing dey come out. Well to ensure say person no carry last, anybody wey get better money there fit dey go think how him go take remove am sharperly.

[Makus]

CZ why na? Wattin you don go put your hand wey dey bring this kind of problem dey come your door na? Na binance be one of the most trusted exchange not only for Nigeria but for the entire world, so with kind of money laundering em come go put em hand. Like this na very big part of the company reputation don spoil like this, any way the reason I believe wey make am  just agree to stepdown freely na because maybe em no want the company to just die like that, but the thing wey still dey border me na, how em take get the mind to just freely give up the company like that, abi no be everything wey that news carry??? But this one sef na one reason wey go still act as experience to those wey dey keep their money for exchange, the main purpose of exchange wey i dey see na just to use am swap coins and to exchange crypto to fiat nothing else, so if anybody get coin for binance just go sell am or transfer am to wallet.

[Ambatman]

Despite been an a$$hole
The guy na face of crypto for many ignorant people
But e fuck up
Sacrifice e good image for profit
Well drama go xup
But Bitcoin go still meuve

[Richbased]

Very heartbreaking news, considering the the Numbers of individuals that trust in binance as a medium of exchange to FIAT and to hear this kind of news is really very very bad, now which other exchange can people entrust now? This is the more reason why it isn't advisable to leave ones cryptos on an exchange because of stories of this nature. Now everybody will be very scared and careful with binance because with the recent development now they actually gonna battle trust issues.

[Charles-Tim]

This very one weak me o. Binance na very important exchange for Naija and boys don use Binance create job for themselves.  The P2P service alone na one area that plenty people use to survive as e dey show for the volume of transaction wey dey happen there. Now wey this thing don be like this, how people go take do am?

As be like this, people mind no go strong to trade there again, even the merchant them go don dey think twice now. Massive withdrawal fit hit the exchange and that one fit make them collapse.  This matter done bring the issue of FTX come for people mind.

I no know why e go be now this kind thing dey come out. Well to ensure say person no carry last, anybody wey get better money there fit dey go think how him go take remove am sharperly.

Binance that is not even registered in Nigeria, just like other exchanges that are also not registered but providing P2P exchange for Nigerians. If there is no Binance again, Nigeria will move to other exchanges.

But if no Binance again, this will significantly affect the crypto market, but bitcoin will survive and other exchanges will later grow.

It is also worth knowing that CZ is just not the CEO again but Binance is still existing. CZ has announced new CEO on Twitter yesterday. Richard Teng is the new Binance CEO.

https://twitter.com/cz_binance/status/1727063503125766367

[SmartGold01]

It is also worth knowing that CZ is just not the CEO again but Binance is still existing. CZ has announced new CEO on Twitter yesterday. Richard Teng is the new Binance CEO.
https://twitter.com/cz_binance/status/1727063503125766367

My broda na so I take dey see notification from telegram bot concerning CZ and Binance I come dey Wonder wetin dey happen. Normally me no be special media type wey be say I go dey active dey monitor information or dey follow up as usual again, instead na here I dey mostly like to spend time to read and get information. Anyhow e be we must survive many worst case has happened over crypto space yet nothing changes rather their competitors took over, it's would likely be to Binance if people noticed any foul play from them they don't have any plans than to switch to other exchange they will have trust and put their funds.
Just that we are used to Binance like something most of us here love using, even me self also love using Binance but if I sense whatever that is not trusted I moved from there and starts using other exchange.

[Zanab247]

 Since CZ has be resigned as a CEO of binance, I think it will allow him to face his punishment that involves in such money laundering because many people are waiting to see what will happen to him before they will have full confident to use binance again. Now that Richard Teng has be replaced CZ as the new binance CEO, it show that there will be positive results that will allow investors to achieve what they have never achieve before in binance to happen in this Richard Teng government because many people want to see new policy that will encourage them to trust binance again.

We need to apply wisdom with binance now because, for Richard Teng to become a new binance CEO show that many things is about to happen that will make people money to be at risk because if CZ can be guilty on such crime show that he will be punish any moment from now and it will make some strange things happen to binance users if Richard Teng fail to play his role.

[Liliana1304]

Nothing go happen. Atleast nothing yet. The guy break the US anti money laundering law and as nah human being wey him be, there's always a tendency to make mistakes. Like this he gats step down so him fit properly face him punishment wey be to pay the sum of $50m. This him punishment wey him dey face happen to be one of the biggest penalties wey don shele for US history.
 
Which excuse we fit give for Zhao Changpeng fuck up? But where me I dey concerned now the way all this big exchanges dey drop or dey face punishment. Recently, nah Bittrex, now Binance. We still dey look how bad this news go affect Bitcoin Sha.

[Lida93]

Binance don make correct name and don lay down correct legacy as di best exchange wey don gain worldwide trust. Everybody dey feel secure with Binance. Just yesterday,  CZ wey be CEO and Founder of Binance, don talk say e guilty to violate money laundering rules. E don agree say e go pay one fine of $50 million. and also agree say e go step down as the CEO as part of the guilty plea. And that same yesterday CZ don officially resign and e don bid bye bye to en office as the CEO of Binance, although e still make himself accessible to the company say them fit still consult am anytime at all. You go also like to know say Binance sef don Plead guilty and dem charge dem. Dem don also gree say dem go pay fine of $4.3 billion and dem go do restitution to the government join. E be like say the matter don serious well well.. Now my concern be say, e be like say the future of Binance dey uncertain.

Binance is one of the exchange with the largest trading volume of over $70b if not the leading exchange in cryptocurrencies, known for their low trading and transaction fees changes when compared to other exchanges. It  can be argued that despite binance being a CEX it enjoys a bigger trust level than some Dex exchanges and this is as a result of the reputation it has been able to established, preserve and it's pivot role to crypto adoption since it's inception.

Changpeng Zhao made a smart move in the interest of binance and it's community by resigning from his position as CEO giving way to a new era, and with his resignation some tensions and sentiments that are mounted on the company owing to CEO position  might  be withdrawn with a new phase of business for binance.

With all the tension and negative news wey surround the company, e possible say e go hard for dem to survive. Even if dem don name new CEO, people still dey withdraw their money from the exchange because of fear say the exchange fit crash, e fit affect Binance seriously. The tragedy and the bad publicity fit make people lose trust for the company, and this go affect how people take see and trust the exchange. We no fit talk for sure wetin go happen, but Binance go need find way take handle this matter and try regain the trust of their users. Wetin you think for this matter?

It is common to see binance users expressing FUD as a result of this tragedy  making rapid withdrawals of their funds, it's a critical moment for the community but saying that binance will crash based on this event is an impossible projection for a multi billion dollars company with such financial details as quoted below (as at the time this comment was made).

Currently, there are 364 coins and 1193 trading pairs available on the exchange. Binance 24h volume is reported to be at $13,816,296,673.96, a change of 25.6% in the last 24 hours. The most active trading pair is BTC/FDUSD with a 24h volume of $2,056,014,317.23. Binance has $67,542,544,852.76 in Exchange Reserves.  source.

[Mayor of ogba]

Omo, this thing wey happen to Binance na very bad thing because CZ don gain trust for where in followers dey, and nobody believes say CZ go put hand for something wey no dey legal. Even though CZ named a new Binance CEO yesterday, that has not stopped him from making decisions because the new Binance CEO is loyal to CZ. Na because of this kind of thing will are told not to save our assets on the CEX exchange, my advice be say anybody wey gets money for Binance make in go withdraw for now because we fit walk up to see say withdrawals for Binance don dey disable.

[Timmzzy]

The truth be say I nor first trust CZ, he dey everything to gain more the Stori way them don talk about am I know e dey deeper than this because he nor just fit Resign like this. Most of us for local board dey use binance but I go advice make we find another alternative to binance for trading and p2p. If binance na be your only trusted place for p2p, be like say CryptopreneurBrainboss fit help out for here (nor go do p2p with person way you know or trust), remember say physical meeting for p2p don cast, so dey cautious of who you dey do p2p with o

The Resign self just weak me and na so I come see say bittrex wey been be the top one exchange before binance took over wan shout down so... Na wah anyway sha other exchange dey but like this binance ni be the best exchange I don use right from 2018 till date.

[Justbillywitt]

This very one weak me o. Binance na very important exchange for Naija and boys don use Binance create job for themselves.  The P2P service alone na one area that plenty people use to survive as e dey show for the volume of transaction wey dey happen there. Now wey this thing don be like this, how people go take do am?

My brother I want you to understand one thing first and that thing be say Crypto is bigger than one person. And I want you to understand that no single individual or government can bring down bitcoin or crypto currency trading. Yes if a company like binance has a case and the case and they lost the case that doesn't mean it is the end of crypto trading in our country or around the world. So you saying that with what has happened to CZ of binance how a big country like Nigeria that is ranked high in crypto trading is highly not a good representation of the ideology behind bitcoin creation. Bitcoin will continue to exist even when we all are gone. So irrespective of who is going down in cryptocurrency industry, crypto will continue trading. What we can only see in the market is a temporary dip which is common in the crypto world when there is panic in the market.

As be like this, people mind no go strong to trade there again, even the merchant them go don dey think twice now. Massive withdrawal fit hit the exchange and that one fit make them collapse.  This matter done bring the issue of FTX come for people mind.
I no know why e go be now this kind thing dey come out. Well to ensure say person no carry last, anybody wey get better money there fit dey go think how him go take remove am sharperly.

My brother binance is safe for trading and nothing is happening investors funds. CZ was not accused of tampering with investors fundz like the case of FTX. Make we no dey put unnecessary fear and tension for people body. Before we respond or react to any news make we take time understand everything first.

[Kelward]

Wetin de happen to top exchanges wey crypto holders take get trust for excellent exchange services. From FTX, to bittrex, wey want to shut down, now to binance, wey CZ want to resign and hand over to Richard Teng, what if dem ideology no rhyme, or if di new CEO no bring innovation wey go restore customers trust? Den e fit be di beginning of di end for binance.

Anyway e go be shame if a big and reliable exchange like binance, fit to go down, because e go de hard to trust exchanges again . As e be now people go just de move from one exchange to another because of lack of trust, dis one no be good news for cryptocurrency matter.

[Jegileman]

D title of your topic no dey as d body of the main source of d news oo. D binance CEO, CZ no dey guilty of money laundering but him dey guilty of violating anti-money laundering laws na why him wan step down as the CEO of the exchange. Na one thing wey oyibos like dey do, when dem dey guilty of something dem dey quickly resign to save dem from further embarrassment and shame, na wetin we no too dey send for here be dat. Me I respect him decision for doing dat.

Now back to your question of wetin go happen to d exchange, dis one na wetin dem decide do oo. Binance na very strong exchange and after dis news I been dey expect say something bad go happen or their native coin BNB go begin dump anyhow, but till today everything just dey normal. Binance really strong and na very reputable exchange. But for all of dis, exchange no be better place to leave money inside, if you get money their better pack am, because nobody know when any exchange go exit scam make anything no happen to your money wey you keep for there so.

[Mate2237]

Frankly speaking this matter na serious matter, as you tok na so he be, people go dey fear to keep their bitcoin and other coins inside there because right now di place dey sake. But as he be like dis sef the site still dey work. And dis kind person I dey like because when dem dey guilty dem no dey deny but come to Nigeria money launders dem go even swear give God say dem no do am. I still believe say Binance go still dey strong and im no go collapsed.

One thing me I know and I don talk am before say government dey do all things to destruct bitcoin and dem dey start from Centralized Exchange Platforms and Binance nai dey number one position.

[Antotena]

Since CZ has be resigned as a CEO of binance, I think it will allow him to face his punishment that involves in such money laundering because many people are waiting to see what will happen to him before they will have full confident to use binance again. Now that Richard Teng has be replaced CZ as the new binance CEO, it show that there will be positive results that will allow investors to achieve what they have never achieve before in binance to happen in this Richard Teng government because many people want to see new policy that will encourage them to trust binance again.

I think the exchange was prepared for any drop of bnb before going into that court room. There was no any tip that he was even going to the court house, it was a news that surprised everybody and shake the market just little and now it seems the market is not even buying into that FUD because we have just touch $38k in bitcoin and bnb is still holding strongly. If this was to be from another exchange, believe me the drop will have been worst than this.

This make me believe that CZ and Binance really are tbe people controlling this market, they do what they want and how they want. Trust me even when US said they are going to keep on CZ for the next 5 years, he will still be given direction underground and be running the exchange the way likes.

We need to apply wisdom with binance now because, for Richard Teng to become a new binance CEO show that many things is about to happen that will make people money to be at risk because if CZ can be guilty on such crime show that he will be punish any moment from now and it will make some strange things happen to binance users if Richard Teng fail to play his role.

There is nothing we can do with  how crypto exchanges run their company but I personally feel when you don't have anything on the exchange, you have nothing to worry about because it's only when you don't have the key you don't have a say about your coin.