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The post <a href="https://coinpedia.org/news/binance-exchange-on-the-verge-of-bankruptcy-trading-volume-drops-heavily/">Binance Exchange on the Verge of Bankruptcy? Trading Volume Drops Heavily</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The $4B fine looming over <a href="https://app.coinpedia.org/company/binance" target="_blank" class="profile-details">binance</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/company/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg"></a> <a href="https://www.binance.com/" target="_blank"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1664610315244lexyqsklms.png" class="company_logo_img" target="_blank"></a> binance binance@miceneurol.com Centralised Exchange <a href="https://www.binance.com/" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg"></a> <a href="https://www.linkedin.com/company/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/li.svg"></a> <a href="https://twitter.com/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190602/tw.svg"></a> <a href="https://www.youtube.com/binanceyoutube" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153100/yt.svg"></a> <a href="https://www.instagram.com/binance/" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/in.svg"></a> <a href="https://medium.com/@Binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153100/me.svg"></a> <a href="https://www.reddit.com/r/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153059/rd.svg"></a> sparks concern: Can they pay or face bankruptcy? With CEO <a href="https://app.coinpedia.org/cz_binance" target="_blank" class="profile-details">changpeng zhao</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/cz_binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg"></a> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1649327642152kgljvninim.png" class="user_profile_img"> changpeng zhao founder and ceo at Binance Changpeng Zhao is the Founder and Chief Executive Officer at Binance.His contribution to the enhancement of Binance made the platform world’s largest cryptocurrency exchange since its inception in 2017. Zhao launched the blockchain network Binance Smart Chain which has made a remarkable contribution to the development of the decentralized finance ecosystem. Whereas in 2019, he launched Binance’s US affiliate, Binance.US. &nbsp; He is commonly known as CZ, a Chinese-Canadian Business Executive who has been ranked 113th richest in the globe as of 2022. In the past, he founded Fusion Systems, a trading system for brokers famous for some of the fastest high-frequency trading systems for brokers. Zhao has served as a member of the team that developed Blockchain.info and played the role of Chief Technology Officer of OKCoin, a secure cryptocurrency exchange platform for Bitcoin, Ethereum, Dogecoin, and other crypto assets. EntrepreneurInvestorChief Executive Officer <a href="https://www.linkedin.com/in/cpzhao" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/li.svg"></a> <a href="https://twitter.com/cz_binance?ref_src=twsrc%5egoogle%7ctwcamp%5eserp%7ctwgr%5eauthor" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190602/tw.svg"></a> <a href="https://www.youtube.com/watch?v=-1d3arvu0gg" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153100/yt.svg"></a> <a href="https://www.instagram.com/changpengzhao/?hl=en" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/in.svg"></a> stepping down and accepting charges, questions arise about his fate compared to other crypto CEOs. Suspicion lingers if SEC/DOJ is protecting Binance, the largest exchange, to cushion the crypto market. Investors await an uncertain outcome in this complex scenario. Can you compare and reflect on this? If Binance goes bankrupt or completes a shutdown. Imagine the FOMO and Panicking in the market due to CZ’s resignation.&nbsp; 
Interestingly, the settlements come just a month after Sam Bankman-Fried was found guilty of fraud in the most extensive trial in crypto history. Last year, Binance famously dropped an offer to acquire his exchange FTX on the brink of bankruptcy.&nbsp; 
<h2 class="wp-block-heading" id="h-will-binance-go-bankrupt-like-ftx-trading-volume-dropped-60">Will Binance go Bankrupt like FTX? Trading Volume dropped 60%</h2> 
As per Kaiko <a href="https://x.com/KaikoData/status/1726682810306666936?s=20">report</a>, Binance’s daily trading volumes have significantly decreased with DOJ’s intense scrutiny, reaching around $10 billion from last year’s $20-30 billion average. Despite a substantial $4 billion fine, a deferred prosecution agreement might allow staggered acceptable payment within two years. 
Binance Coin (BNB) saw a drop of 11.2% in daily trading volume to $389.5 million, prompting analysts to forecast a potential additional 12% drop. If this occurs, it could breach the $234.6 support level, pushing prices towards $200, historically a strong support zone on the weekly chart.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/BINANCE?src=hash&amp;ref_src=twsrc%5Etfw">#BINANCE</a> BANKRUPCY INCOMING. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Now that CZ has been busted for his crimes, the plea deal allows regulators to analyze virtually everything with how <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> is operating. This means no more fraud or price manipulation, which will completely destroy it's entire business model,… <a href="https://t.co/vhH798JaZr">pic.twitter.com/vhH798JaZr</a>— WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1727103116909105521?ref_src=twsrc%5Etfw">November 21, 2023</a>
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WhaleWire, a crypto expert, seems to be quite alarmist and speculative. While it points to the implications of regulatory actions against Binance and the potential aftermath of CZ’s legal issues, it’s crucial to note that predicting exact price targets and the collapse of a major exchange like Binance is speculative and lacks concrete evidence. Statements like “no more fraud or price manipulation” due to regulatory actions could have significant effects, but predicting a complete market crash and Binance’s bankruptcy seems overstated without clear substantiation. But what does it mean for BNB?&nbsp; 
<h2 class="wp-block-heading" id="h-bnb-to-drop-below-5-nbsp">BNB to Drop Below $5?&nbsp;</h2> 
Predictions include Binance Coin (BNB) falling below $5 and bankruptcy. These forecasts are based on supposition, not proof or official declarations. Regulatory and legal difficulties can affect businesses, notably bitcoin exchanges, but predicting their future and market influence is too speculative. However, a crypto crash is inevitable after investors rush to remove $10 billion from Crypto/Bitcoin. The US Settlement and investors’ and CEO’s departure from Binance raises concerns about its bankruptcy. 
Binance’s bankruptcy rumors have caused market FOMO—will crypto fall like 2008? Only time will tell.

Binance Exchange on the Verge of Bankruptcy? Trading Volume Drops Heavily

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