Binance, the world's leading crypto exchange, is going through a rough patch that's eerily similar to what happened before FTX went under. There's growing skepticism that Binance might share the same fate as the now-defunct FTX exchange.
Things started to go south for Binance after a string of legal challenges and probes raised questions about its future. On June 5, the SEC filed charges against both Binance US and its CEO, CZ, for securities violations, with 13 different counts. At the same time, the CFTC is looking to ban trading on the platform, and there are reports that the Justice Department is investigating how Binance manages potentially illegal funds.
Regulatory pressures aren't just coming from the U.S.; they're global. Binance pulled its license application in Austria following increased scrutiny, and Belgium's top
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First found on: Is Binance Facing the Same Fate as FTX? Bankruptcy Looming?
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