Changpeng Zhao stepped down as Binance CEO, pleading guilty to breaching anti-money laundering laws.
Binance saw a liquidity crisis and a major outflow of assets following Zhao’s move.
Despite these challenges, Binance leads as non-US users are less involved in the asset outflow.
Binance continues to linger at the forefront of the blockchain industry despite the ongoing regulatory pressures and Changpeng Zhao’s resignation. According to a recent CryptoQuant report, non-US users of Binance are less likely to withdraw their holdings on the platform.
Despite regulatory pressure, non-U.S. users persist in keeping their assets on Binance.https://t.co/66yVQGkrrk https://t.co/1TXeqp1Tdx pic.twitter.com/HCEm5nPs2S
— Ki Young Ju (@ki_young_ju) November 22, 2023
Over the past few months, Binance and its CEO, Changpeng Zhao, have been sued by the US Securities and Exchange Commission (SEC), alleging that the platform breached federal securities laws. In a lawsuit filed by the SEC in June 2023, Binance was accused of operating unregistered exchanges, broker-dealers, and clearing agencies. In addition, the regulators accused Zhao of “misrepresenting trading cont…
The post Binance Remains the Largest Crypto Exchange Despite Recent Outflowappeared first on Coin Edition.
