Binance battles 'FTX redux' fears as US regulators blow-torch the crypto behemoth - but analysts think it will weather the storm

Mar 19, 2023 02:00 pm Cyber Security 165

Binance is being blow-torched from all angles as US regulators close in on the world's largest crypto exchange.

The SEC thinks it's operating unregistered securities, whilst some reports suggest Binance has engaged in secret fund transfers.

Here's what's happening with Binance, and where the company is under pressure.

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Binance, the world's largest cryptocurrency exchange, is braving one of the roughest patches since it was founded by Changpeng Zhao and He Yi in 2017.

Fighting on multiple fronts at the same time, the digital-asset giant is facing a raft of US regulatory probes while also trying to shore up investor confidence damaged by the so-called crypto winter and a string of high-profile bankruptcies and scandals in the industry.

Following the shocking implosion of Sam-Bankman Fried's FTX late last year, concerns have risen whether Binance faces similar risks. Type 'Binance' into search analytics tools such as AnswerThePublic and they throw up a raft of queries including "will binance collapse like FTX" and "can binance be trusted", or even "binance is next".

The company is now facing legal and regulatory probes over potential breaches of anti-money-laundering rules, and questions about whether it properly registered some crypto derivatives. The grilling com ..

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