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The original was posted on /r/cryptocurrency by /u/Socialinfluencing on 2023-08-22 21:18:15.
Yes, it's Binance. Binance is the largest crypto exchange in the world yet it's the most hated exchange by that same margin and where it gets dangerous is when you consider the audience. Binance is hated by both US and EU regulators. Continually, not just recently they've been shut out and outright had to shut down operations, many of their EU operations licenses have forced them to give up and this is happening every other week now.
We are currently in a bear market and this is something very few want to think about but that makes the circumstances worse. Binance can feel the regulatory vice tightening and they cannot keep this up, liquidating their positions not to mention the amount of USDT and Btc trading pairs on their platform. This is just a reminder that no company is too big to fail in this space and Binance is starting to find that out.
You can only suffer so many regulatory setbacks and investigations by committed legal teams that work in tandem around the globe before you capitulate, Binance is there now. This may seem like a ' won't ever happen ' event but Ftx was actually doing quite well before the collapse, in fact they had built quite a stellar reputation and had big money vested in them. Binance doesn't have the confidence of the US, in fact it is being relentlessly pursued by the US and the EU, so what next?