FOUR reasons why Binance Chain (BNB) will CRASH next
What Is Binance Coin (BNB)? Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. As of Q2 2022, Binance Exchange is the largest cryptocurrency exchange in the world, with a volume of $7.6 billion.
Photo: Twitter
BNB, the native token of Binance’s BNB Chain, which is banned in UK:
BNB Chart / Photo: Twitter
1. The FCA had ordered Binance to stop all UK regulated activity last June over worries about weak consumer protections
UK @CommonsTreasury asked Binance whether 'its relationship with Paysafe is a way of circumventing the issues
— Adam Samson (@adamsamson) November 16, 2022
highlighted in the FCA consumer warning last year and Binance’s lack of
regulatory authorisation in the UK'. Follows our story from Feb -> https://t.co/CVqlT2JCpX pic.twitter.com/OGsY8w2L5F
...amid a wider crackdown on the cryptocurrency industry's potential role in fraud and money laundering.
CZ is a walking timebomb. He was banned in the UK and under investigation in the US! @cz_binance Please remember Coinbase has never listed $BNB since day one. You all figure it out. The only exchange coin listed in Coinbase is $CRO! https://t.co/v8IafI43sX
— ELON For MARS (@Elon_for_Mars) November 16, 2022
Britain’s Financial Conduct Authority said that Binance Markets Limited “is not permitted to undertake any regulated activity in the U.K.”
The FCA spokesperson clarified that the scope of the ban was limited. Though Binance Markets Limited is banned from offering regulated services in Britain, non-registered firms can still interact with U.K. consumers. That means Binance could still offer Brits crypto trading
— CryptoCrapHat (@cryptocraphat) November 16, 2022
2. US investigation for laundering for "Iran"
Professor of Economics Nouriel Roubini claims that "CZ is a ticking time bomb and Binance is being looked into by the US Justice Department for allegedly laundering $8 billion."
#Binance helped iran trade $8 billion to bypass sanctions.
— NFSC_HAGnews (@NFSC_HAGnews) November 9, 2022
The US Department of Justice is currently investigating all possible violations of money laundering rules by Binance.https://t.co/QpYeZiwRCm
3. Binance could not get approval from Singapore
It seems like @cz_binance is a supporter of transparency.
— Jecret.cro 🇸🇬📈🔺️ (@Jecret1) November 13, 2022
Since we are on the topic of transparency, let's call on @cz_binance to share openly why they couldn't get into Singapore.
Now, who else is curious? pic.twitter.com/VIEGimBgHZ
4. Binance under Dems investigation regarding FTX collapse
BREAKING: Binance role in FTX collapse under US Congressional scrutiny - The Block
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) November 16, 2022
If SBF is prosecuted in the US he will likely flip and provide incriminating information on Binance to the authorities in order to receive a lesser sentence. This information has the potential to demolish what remains of the crypto industry. Hold on tight.
Binance Denies Accusation From UK Lawmaker That It Deliberately Sank FTXhttps://t.co/8Sdlxvnegu#topbscnews #BNB #BSC #DeFi #Binance #CRYPTO #CryptoNews #BNBChain #Web3
— Top BSC News 🔶 (@topbscnews) November 17, 2022
Why do I care? With billions worth of user deposits lost and dramatic stories about people losing their live savings and committing suicide and the broader impact on the crypto community it is important that the role of @cz_binance in the FTX fiasco is investigated.
— Kim Dotcom (@KimDotcom) November 17, 2022
Where there's smoke there's fire.
Binance role in FTX collapse under congressional scrutinyhttps://t.co/e6JMCQ7Ttp
— The Block (@TheBlock__) November 16, 2022