Can binance shut down anytime soon?

[vincentontop]

Has long as Poloniex did not shutdown when their server was hacked , I think three times now and they lost so much money, Binance will not shut down

 

[alonelywriter]

naah. Its no where near to death yet.

 

[herditama88]

NOPE

 

[paisawaisa]

Has long as Poloniex did not shutdown when their server was hacked , I think three times now and they lost so much money, Binance will not shut down

Was it a bigger exchange that binance before that happened?

 

[Cryptomok]

Lot of legal issues now and they have huge fine. Can they shut down anytime soon? What will be the impact on bitcoin price and other crypto?

If Binance Shutdowns the Crypto market Will Collapse Very Badly

 

[Hawkeye Digital]

Could be if people are loosing trust .

 

[RektNem]

Lot of legal issues now and they have huge fine. Can they shut down anytime soon? What will be the impact on bitcoin price and other crypto?

Can they? Yes, if you look at previously bankrupt platforms like FTX it’s pretty clear there’s no such thing as “too big to fail” in the cryptocurrency space. If they manage to go down they’ll take a huge toll on the entire crypto market as a whole.

that being said I’m pretty sure Binance will survive, the big fine they’ve got to pay will most likely be split into increments and Binance is still the biggest CEX by far in terms of userbase. They’re raking in enough to be able to pay.

 

[paisawaisa]

Can they? Yes, if you look at previously bankrupt platforms like FTX it’s pretty clear there’s no such thing as “too big to fail” in the cryptocurrency space. If they manage to go down they’ll take a huge toll on the entire crypto market as a whole.

that being said I’m pretty sure Binance will survive, the big fine they’ve got to pay will most likely be split into increments and Binance is still the biggest CEX by far in terms of userbase. They’re raking in enough to be able to pay.

The fine will not do all the harm. The goodwill that is hampered will affect this more.

 

[LoganM]

Not necessarily. The company has a strong track record and a loyal customer base. It's also been taking steps to address regulatory concerns and improve its security measures.

But there's no denying that Binance faces significant challenges.

 

[MgicalaEarner]

What about the funds in it, I mean our funds are safe or not if they get shutdown.

 

[india]

Not sure if it will shut down but if it does, a lot of players will be out of Crypto I think.

 

[Eliz8]

it's impossible to say for sure, but this exchange with huge volumes, I don't think they will close the doors because of the fine. They have really good money on it.