Who's next in line?

[Zaguru12]

I literally don't know which exchange to trust for my first investment. And I'm not very confident in my skills to manage my own wallet (Ledger nano x) as a beginner.

Do not trust any mate, if you’re in need of which exchange to purchase bitcoin from then I will recommend a decentralized exchange which you can easily get from list here on https://kycnot.me/, once you purchase your bitcoin you move them to your personal wallet. You don’t need to be scared of managing your own wallet all you need to do is to understand how it works, security comes at a price and this price is acquiring the knowledge. As for the choice of an hardware wallet it is a good choice but I will advise against Ledger wallets due to policy issues rather go for wallets like passports or Trezor self. But before going in full make sure you have experiment it with a little amount.

I won't recommend you to go with Hardware wallets as they can't be trusted because sometimes they may contain malware which could be very risky. Go with a software wallet like Electrum and save your private keys and seed phrases on secure locations and then disconnect the pc that you used to create your wallet because air-gapped system is the most secure way to keep your Bitcoin safe.

I am also more of a fan of airgapped wallet than regular hardware wallets but I wouldn’t recommend it to a total newbie like him, because the set up and other process can easily have mistakes which would just compromise the wallet. But rather he should go for an open source hardware wallet at least should there be any changes to that wallet policy the tech savvy guys could spot it out easily

I'm not a fan of SBF, CZ, Sun, and the rest of them and all their centralized platforms, but I kind of don't like that they're defeated by government agencies that are apparently more corrupt than them. Somehow, I desire for the failure or collapse of all these centralized platforms, but not through repression by the government but by the free choice of their users completely abandoning them. DoJ winning over Binance isn't much of a victory really. 

I also feel like the attack on this individuals or exchanges is like a direct attack to the cryptocurrency community except if it is case like SBF’s, although they themselves are cony with their centralized protocols but I will rather pitch a tent with them than the government. One thing is once you don’t meet their regulation requirements then the SEC (government per se) will come fully for you.

[HONDACD125]

The recent years have not been easy with crypto exchanges as SEC has been breathing down their necks and constantly taking legal actions against them, and many heavyweights have not been spared as they've either tested the blade or feeling the heat.

Below are the highlights of SEC's latest victory in the fight against crimes and fraudulent practices in the space.

• FTX boss, SBF's trial finally came to an end few weeks ago and the crypto community are anxiously waiting to hear the final verdict come 28 March 2024.
• Bittrex's winding down and $24 million dollars penalty settlement.
• Binance fined of a whooping $4.3 billion dollars, the highest ever paid by an exchange and CZ pleading guilty to money laundering.

Which exchange or CEO do you think is going down next?

Thinking or talking about any exchange or CEO that he can be the next number I think is not right, because no one wants his exchange or such a big post to be criticized easily. No one thought that CZ could be involved in such activity, but we all thought that the SEC would somehow try to take down Binance exchange. The dispute between CZ and SEC was going on for a long time and we did not think SEC could win this case. A fine of $4.3 billion is certainly a huge amount, but Binance Exchange will have no trouble paying the fine.  It is difficult to say which CEO or exchange is next, but action must be taken against any CEO or exchange involved in wrongdoing.

All the exchanges have people's capital, and people hold capital by trusting the exchange.So there is a need to keep a close watch on any illegal activity of the exchanges and SEC is doing exactly right in this regard. However, one of the reasons for this may be that the USA government never wants crypto exchanges to become strong, and in this way, crypto-currency will maintain its monopoly on the world. So, to end this monopoly, USA is trying to control it in a different way, because if Bitcoin keeps growing like this, the US government will never want it.Then US government wants to see the world ruled by the dollar.

[Darker45]

I'm not a fan of SBF, CZ, Sun, and the rest of them and all their centralized platforms, but I kind of don't like that they're defeated by government agencies that are apparently more corrupt than them. Somehow, I desire for the failure or collapse of all these centralized platforms, but not through repression by the government but by the free choice of their users completely abandoning them. DoJ winning over Binance isn't much of a victory really.  

I also feel like the attack on this individuals or exchanges is like a direct attack to the cryptocurrency community except if it is case like SBF’s, although they themselves are cony with their centralized protocols but I will rather pitch a tent with them than the government. One thing is once you don’t meet their regulation requirements then the SEC (government per se) will come fully for you.

To the extent that I'm now beginning to be suspicious on the harsher crypto stance of the government right now. BlackRock, for example, has been meeting exclusively with the SEC people and probably others as well. I think we're at the beginning of a bigger shift in the playing field.

Traditional giants in finance which became bullishly interested in spot Bitcoin ETFs are probably in the early process of snatching up the crypto market from young and new crypto players like Binance and Kraken and others.

I don't know what others are thinking, but I'm seeing the old system, those fiat investment firms and wealth managers, slowly but surely and in a cunning way take over the crypto market.

[jrrsparkles]

Whoever committed a violation can end their career/company but I won't consider this as a win for the government over cryptocurrency in any way because if one exchange goes down then another will replace the void if there is any so all they can do is bring down the companies which apparently violated the laws but I feel from this no exchanges wants to operate in the US which may be a victory for them.

[naira]

Which exchange or CEO do you think is going down next?

I think CZ should regret taking the risk of building Binance US, if he hadn't originally built the exchange there it probably wouldn't have been as complex as this. However CZ collapse was not as bad as some other CEOs. He stepped down in the right way and gave his position of power to someone he trusted. Bitcoin still does not respond to this news, instead the price of Bitcoin rises. I currently have no trouble withdrawing Bitcoin from Binance but high gas fees my wife still hasn't withdrawn it from the exchange.

If I'm not mistaken, $4.3 billion dollars is the largest amount in history, exceeding cases that have already occurred. The SEC will not remain silent they will continue to target other Crypto exchange CEOs. There is no doubt that Justin Sun has to start preparing himself because it is possible that his name is already on the list.

[gunhell16]

I had issues depositing on Binance (I am located in Belgium) 5 months ago. My deposit arrived but was immediately taken back by some banking group.
3 days ago I asked in a crypto group if these issues are resolved now. They said that Binance can operate in Europe based on a Polish license. It was also suggested that I used Kraken to get my hands on BTC.

One day later I heard that CZ gets a multi billion dollar fine, and that Kraken is also in a legal battle.
I literally don't know which exchange to trust for my first investment. And I'm not very confident in my skills to manage my own wallet (Ledger nano x) as a beginner.

Don't trust any exchange bro because they can do whatever with your money they want and trusting them with you money isn't a good choice. I recommend you to learn about personal Bitcoin wallets and especially software wallets like Electrum and then try to create your own personal wallet and deposit your Bitcoin into that.

I won't recommend you to go with Hardware wallets as they can't be trusted because sometimes they may contain malware which could be very risky. Go with a software wallet like Electrum and save your private keys and seed phrases on secure locations and then disconnect the pc that you used to create your wallet because air-gapped system is the most secure way to keep your Bitcoin safe.

So you mean it's not safe to use a hardware wallet in this day and age? Then you shouldn't trust every exchange either? Can you clarify this here in this section? Because if we shouldn't trust an exchange, how do you think we can convert Bitcoin to our fiat currency?

Then, like the first mentioned, apart from the electrum wallet, isn't there any other non-custodial wallet that is also safe apart from the electrum apps? How about the trezor and ledger? Are they safe too?

[davis196]

OP, you are asking questions, which cannot be answered by anyone, who doesn't work in the Security and Exchange Commission(or any European regulatory agency). We don't have crystal balls and we cannot the predict the future of all crypto exchanges and their CEOs.
Maybe some crypto bookmaker could possibly start accepting bets about who is doing to be the next crypto whale in prison or which ones of the CEOs are going to be having problems with the judicial system. Perhaps you could place your bet on Justin Sun. I would place my bet on small shitcoin/NFT scammers like Logan Paul. He's not the CEO of any big crypto company, but he's definitely a scammer.

[Blitzboy]

The SEC's recent victories are not just punishments; they are a clear call for more care in cryptocurrency. There is a lot of uncertainty about who will be next, which means that groups that dont follow the rules will eventually be punished. At this point, its either time to adapt to strict regulatory frameworks or face the results. The next target? Most likely, an exchange or CEO that doesnt think the SEC will be able to stop them.

These high-profile cases and fines show a bigger story: people are becoming more interested in how to regulate cryptocurrencies. Every fine and arrest shows how important the business is becoming. interest leads to concern, and controversy leads to interest. This pattern of legal action isnt just a punishment; its also an unintended promotion that brings cryptocurrency to the public's attention, ignites discussion, and engages more people. The more controversial a problem is, the more people and government officials are interested in it, which will change the future of crypto in ways that all OG investors have predicted.

[Tony116]

I had issues depositing on Binance (I am located in Belgium) 5 months ago. My deposit arrived but was immediately taken back by some banking group.
3 days ago I asked in a crypto group if these issues are resolved now. They said that Binance can operate in Europe based on a Polish license. It was also suggested that I used Kraken to get my hands on BTC.

One day later I heard that CZ gets a multi billion dollar fine, and that Kraken is also in a legal battle.
I literally don't know which exchange to trust for my first investment. And I'm not very confident in my skills to manage my own wallet (Ledger nano x) as a beginner.

Don't trust any exchange bro because they can do whatever with your money they want and trusting them with you money isn't a good choice. I recommend you to learn about personal Bitcoin wallets and especially software wallets like Electrum and then try to create your own personal wallet and deposit your Bitcoin into that.

I won't recommend you to go with Hardware wallets as they can't be trusted because sometimes they may contain malware which could be very risky. Go with a software wallet like Electrum and save your private keys and seed phrases on secure locations and then disconnect the pc that you used to create your wallet because air-gapped system is the most secure way to keep your Bitcoin safe.

What he said means he had problems managing seed phrase, so what is the difference between using Electrum and a hardware wallet? Both wallets require him to manage his seed phrase and password himself. First of all, what he needs to do is to be confident in himself and be responsible with his assets rather than seek help from third parties such as centralized exchanges.

I agree that air-gapped devices are indeed a secure solution but is it correct to say that hardware wallets are more risky? I won't talk about the Ledger wallet because it's not reliable anymore, but the Trezor or Passport wallets are trustworthy wallets. I am using trezor for many years and I am still safe with it.

[michellee]

No one knows who will be the next to experience problems like CZ. The SEC seems to be looking for the next victim and will put pressure on them as they already do. Certainly, the more famous a person, exchanger, or business is, the more the wind will blow against it.

It just remains the readiness of the person concerned to be able to prove that he is innocent and be able to fight it. But it is not easy to prove that they are innocent and can fight because they have to deal with regulations. Meanwhile, the regulations made can change at any time and this can clearly ensnare them.

So we should focus on accumulating more Bitcoins. This negative news could cause the Bitcoin price to experience a correction that might become deeper. And if that happens, we will have more opportunities to buy more Bitcoin.

[LogitechMouse]

~
Which exchange or CEO do you think is going down next?

Poloniex? Kraken? Kucoin? Or that new emerging exchange that's been advertised by many crypto influencers on Youtube called "Bitget".

We can't predict the future like what others are saying here, but I guess it's pretty obvious that the SEC is targeting these Centralized Exchanges one by one. Who is the current chairman of the SEC? Gary Gensler, and just for the sake of everyone, he's involved with the FTX fiasco. I guess he has a huge hate towards these CEX'es thus, doing everything to stop them.

I guess this serves as a lesson to us that we shouldn't store our assets in our exchanges. I still remember when there were some investors who put even their life savings in the FTX exchange hoping that they could get more money as they stored it there. Well, nobody, or only a few people knew that what happened with FTX would happen. Go buy a hardware wallet if possible, and don't store it on exchanges. I know that there are some who couldn't afford to buy one, so I guess non-custodial wallets might work. As for which CEO or exchange will go down next, I can't answer it precisely, but I believe that SEC will continue to target them like what they did with Binance.

[umbara ardian]

I think the SEC is being too tough on crypto exchanges. They are trying to control this industry, but they are doing it in an ineffective way. The lawsuit against Binance and Coinbase is a typical example. The SEC accuses these exchanges of selling securities but I disagree with this allegation. Cryptocurrencies are not securities. They are digital assets. The SEC is trying to impose stock market regulations on a completely different market. This is not reasonable and it could harm the cryptocurrency industry.

[EarnOnVictor]

Below are the highlights of SEC's latest victory in the fight against crimes and fraudulent practices in the space.

• FTX boss, SBF's trial finally came to an end few weeks ago and the crypto community are anxiously waiting to hear the final verdict come 28 March 2024.
• Bittrex's winding down and $24 million dollars penalty settlement.
• Binance fined of a whooping $4.3 billion dollars, the highest ever paid by an exchange and CZ pleading guilty to money laundering.

Which exchange or CEO do you think is going down next?

It's so unfortunate with what is happening in the crypto industry lately where exchanges are taking advantage of the relevance and the newness of the industry to be perpetrating their evil deeds. Like I always say, more regulation is the best and inevitable, it's just the way to help society to be cleaner and avoid excesses of companies and individuals. Imagine the case of CZ, who knows the total amount he would have laundered before he could settle for as much as $4.3B? This has further exposed the corruption in the crypto industry, and with the recent developments, I do not believe that there is any exchange out there that is innocent. I hope the perpetrators could actually be jailed for their crimes to be a deterrent to those who believe that they can do such things and go scot-free with it.

This should have informed people who didn't believe when I said sometimes that market manipulation by exchanges is possible, this also goes to artificially creating arbitrages to profit from it. But it seems that people are naive about the real thing that goes on in this life and are too trusting. Business owners are desperate for the big money and would continue to find any unsuspecting means to get it.

Lastly, I don't know the next one to be caught, it's those who have their presence in the US that are mostly being caught. I wish the global branches of exchanges could be thoroughly invested as well, it is at this time you would be surprised by the level of evil these people have already perpetrated.

[Fiatless]

• FTX boss, SBF's trial finally came to an end few weeks ago and the crypto community are anxiously waiting to hear the final verdict come 28 March 2024.
• Bittrex's winding down and $24 million dollars penalty settlement.
• Binance fined of a whooping $4.3 billion dollars, the highest ever paid by an exchange and CZ pleading guilty to money laundering.

Which exchange or CEO do you think is going down next?

It is quite unfortunate to see the biggest exchange facing this level of attack from the government. Binance is the most popular exchange in my location but I am glad that it didn't affect its operations. I listened to the live conference by the US Department of Justice where Attorney General Merrick B. Garland outlined the various crimes of Binance. His comments made it look like CZ International violated US laws because of profit. The comments from the representatives of the Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC) and the U.S. Commodity Futures Trading Commission (CFTC) during the conference show that the US government wants to fully regulate the crypto ecosystem within its territory.

The message is clear, if you don't want us to see and control everything you are doing, leave the US crypto market. The next exchange that will go under the hammer of the government are those that fail to comply with the draconian laws the government has put in place. My only fear is that the actions of the US regulators might have a ripple effect on other nations. Since many countries look to copy policies from the US, we might begin to see the same moves from other nations.

But I am glad that Bitcoin is gradually becoming independent of the effects of the attacks on crypto-related businesses. Everyone expected that the price of Bitcoin would fall further than what it is now, but the coin is resilient.

[Marvell1]

• FTX boss, SBF's trial finally came to an end few weeks ago and the crypto community are anxiously waiting to hear the final verdict come 28 March 2024.
• Bittrex's winding down and $24 million dollars penalty settlement.
• Binance fined of a whooping $4.3 billion dollars, the highest ever paid by an exchange and CZ pleading guilty to money laundering.

Which exchange or CEO do you think is going down next?

It is quite unfortunate to see the biggest exchange facing this level of attack from the government. Binance is the most popular exchange in my location but I am glad that it didn't affect its operations. I listened to the live conference by the US Department of Justice where Attorney General Merrick B. Garland outlined the various crimes of Binance. His comments made it look like CZ International violated US laws because of profit. The comments from the representatives of the Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC) and the U.S. Commodity Futures Trading Commission (CFTC) during the conference show that the US government wants to fully regulate the crypto ecosystem within its territory.

The message is clear, if you don't want us to see and control everything you are doing, leave the US crypto market. The next exchange that will go under the hammer of the government are those that fail to comply with the draconian laws the government has put in place. My only fear is that the actions of the US regulators might have a ripple effect on other nations. Since many countries look to copy policies from the US, we might begin to see the same moves from other nations.

But I am glad that Bitcoin is gradually becoming independent of the effects of the attacks on crypto-related businesses. Everyone expected that the price of Bitcoin would fall further than what it is now, but the coin is resilient.

I think Binance is safe because CZ reached an agreement with the US Department of Justice, he agreed to resign, accepted to pay the fine and was willing to accept the punishment if they forced him to go to jail. He sacrificed to keep binance and BNB alive.

What I see, the US government not only wants to assert power and control over the cryptocurrency market in their country. They want to control this entire market worldwide.

I do not consider this as negative as what SBF caused, I think it is normal that the market is not affected too much. So far, binance is still doing its job well without causing any impact like FTX did. So we cannot say that bitcoin or the market is becoming immune to big news.

[arabspaceship123]

CZ accepted Binance laundered money so he's accepted guilt. It's difficult to answer who's next.

American regulators have taken the biggest crypto exchanges to court if they don't want them trading in ways they're unhappy with so they'll make you face American courtrooms. It's possible all of the rest could be next so it isn't a good moment to be CEO of exchanges.

Which exchange or CEO do you think is going down next?

[carlfebz2]

====
The recent years have not been easy with crypto exchanges as SEC has been breathing down their necks and constantly taking legal actions against them, and many heavyweights have not been spared as they've either tested the blade or feeling the heat.

Below are the highlights of SEC's latest victory in the fight against crimes and fraudulent practices in the space.

• FTX boss, SBF's trial finally came to an end few weeks ago and the crypto community are anxiously waiting to hear the final verdict come 28 March 2024.
• Bittrex's winding down and $24 million dollars penalty settlement.
• Binance fined of a whooping $4.3 billion dollars, the highest ever paid by an exchange and CZ pleading guilty to money laundering.

Which exchange or CEO do you think is going down next?

Not really that totally shocking at all on which we do know that  government does really like on involving on things and trying out to control everything according into their liking. If those CEO are the heads of those
known platforms which is that handling out crypto transactions and trading or whatever business that they are dealing then it would really be that just a common approach that they would really be that targeting those heads and making out issues even if it wasnt really that something justifiable but since they are really good on making those issues which turns or do really looks legit then those CEO's wont really be having no choice
but to face up on whatever things that they had been accused to.

SBF and CZ situation? They are different and it is really that something that also different when it comes to market movement. Everything didnt dump much and it turns out that its a little
obvious that they do really make out some shakening of weak hands to buy cheap. Government doesnt really like on getting behind and as much as possible
whenever those things that they couldnt really be able to control would really be someone that would really be next in line.
We dont know on whose next, but it would really be always better that we should expect the unexpected as always.

[famososMuertos]

...//::.

I think it's not about who is the next owner to fall or what service is going to screw us (fk), it's about being careful which services to use, and even if we use them, be careful to know where the "exits" are, in these cases (OP) some can be compensated but it is not like that all the time. Then I would change your idea to don't be next.

[TimeTeller]

I think it's not about who is the next owner to fall or what service is going to screw us (fk), it's about being careful which services to use, and even if we use them, be careful to know where the exits are, in these cases some can be compensated but it is not like that all the time. Then I would change your idea to don't be next.

As we don't know what will happen next, that is true, it is us, the users who should be very careful in using third party services.
Always secure your funds in your own wallet. Right after you finished trading, better transfer it to your own wallet.
We can't trust any of them even the top exchanges as they can hold your funds and let you wait before they will release your very own funds.
As regulation is getting tighter these days, the authorities will come after these online trading platforms. Only a matter of time.

[arabspaceship123]

The largest crypto exchange by volume's got to be Binance but which's the biggest exchange offering deposits & withdrawals to fiat bank accounts? They should be worried because there's a chance it's them.

I wouldn't see it as surprising news when the next exchange's going to get investigated by American SEC. I've got to agree it's only a matter of time.

As regulation is getting tighter these days, the authorities will come after these online trading platforms. Only a matter of time.