Binance Enforcement Provides Dip-Buying Opportunity as Global Liquidity Continues to Improve
Nov 21, 2023
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Binance Risk Mitigated
One of the most significant idiosyncratic risks in the crypto market has been the uncertainty surrounding Binance and potential action from the Justice Department against the world's leading exchange. Earlier this year, we anticipated that any disciplinary actions would likely involve criminal charges against Changpeng Zhao (CZ) and a fine against the exchange.
From our September note:
Today, these views were realized. CZ appeared in court to plead guilty to money laundering charges. He will retain majority ownership of the company but will...