Of course, Binance will not get scammed. I don't think so. But will it remain in its current form? Also unlikely.
The crypto market is maturing. Let's remember 2017 - the market was a wild territory, unregulated by anyone, and institutions did not even look in its direction. Everything was simple and easy. Binance grew along with the market and became more and more influential. Many exchanges have come and gone without even reaching a fraction of Binance's influence. Seriously speaking, it was a monopoly.
At the end of November 2023, the CFTC, the US Treasury Department and the US Department of Justice fined Binance a record $4.3 billion. After a years-long investigation by regulators, Zhao pleaded guilty to violating anti-money laundering rules and aiding the evasion of sanctions.
But now the situation has changed. The market is becoming more mature, major players are showing interest in it. This is a double-edged sword. On the one hand, the arrival of institutions means a huge injection of funds, which will inevitably lead to growth. On the other hand, the market needs to be regulated so that it is safe for investors. Nobody needs an exchange that is so dominant that its capitalization is several times greater than the capitalization of all others combined.
Nowadays, the US influences crypto the most. The future of the market depends on their actions. The USA often demonstrates its importance and, as I already said, the current Binance is not beneficial for them. It is necessary to create real competition in the exchange market, and not formal competition, as it is now. Nobody needs one hegemon.
However, the Binance scam is not beneficial for anyone, because it will bring down the entire market. If Bitcoin falls just below 50k, no big deal, but if it falls below 20k, it will be a real disaster, a reset. We could be stuck at the bottom for a long time, and I don’t think that will be allowed.
There is also a global scenario: a fall below 20k due to regulation, institutional entry and the beginning of a bull market. This scenario has not been canceled, but what events will lead to this is unknown.
So, over time, Binance will lose its position. If the US has plans for this, we will see a lot of interesting things, perhaps coinciding with the start of a bull market. I don’t believe in the complete Binance scam. In the crypto market, anything can be lost and quickly, as well as restored.
So, we watch and learn. 🚀
