Binance: final or new start?

The Binance epic seems to be coming to an end. In the United States, a judge banned the former head of crypto exchange Changpeng Zhao from leaving the United States at least until February 2024. Zhao and US authorities have just concluded an agreement under which he resigns and pays astronomical fines together with the exchange.

It is difficult for me to speculate about the reasons why Zhao voluntarily appeared in the American court: tired of resisting, understood the futility of the struggle, worried about the fate of the company... The fact remains that the US has won against Binance.

The market with the suspicious calm accepted the problems of Binance. Everyone seems to have started planning for the future without Zhao. And it is sad.

I will tell you honestly, from a moral point of view I do not care whether Zhao complied with any corporate laws and political requirements. The main thing: was he a scammer? No. Did he make his clients poorer? No. Someone may have lost money on the exchange, but it’s certainly not the fault of the exchange manager.

Unfortunately, in addition to moral judgment, there are laws that must be respected. 

I have a suspicion that Zhao’s attempt to negotiate with the US authorities may lead to unfortunate consequences... The court agreement is a good thing, of course, but it is not a fact that it will be implemented… In addition, the court agreement does not concern our beloved SEC. Yes, indeed, the agreement does not concern the claims of the EU, there is no doubt that the legal team Gary Gensler will still mess up Zhao’s nerves. He’s already been faced with a bunch of blames.

We have many interesting stories to tell about Binance.

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