đ Binance Crackdown Can Pressure Crypto Liquidity & Spreads Says Julius Baer
In the wake of Binance's recent regulatory challenges, Julius Baer's Next Generation Research team sheds light on the potential impact and what lies ahead for the crypto industry.
Regulatory Winds and Binance's Future đŹïž
The departure of Changpeng Zhao (CZ) and the regulatory crackdown on Binance might bring short-term challenges. Julius Baer anticipates increased regulation in the crypto asset class, emphasizing that the newly appointed CEO, Richard Teng, faces a challenging task to prevent further outflows.
Liquidity Concerns in the Crypto-sphere đ§
According to Julius Baer's Manuel Villegas Franceschi, the real concern lies in outflows from the world's largest crypto exchange. With almost $1BN of customer assets leaving Binance, there's a potential ripple effect on liquidity and flows.
The broader market might witness heightened pressure, especially considering Binance accounts for nearly 40% of crypto spot volumes.
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