Crypto Frontline

Crypto Trading Binance Explains How External Factors Drives Fear

Crypto Trading Binance Explains How External Factors Drives Fear
December 28
21:41 2022

United States – The CEO of crypto trading Binance, Changpeng Zhao, shares insights about how external factors drive fear and doubts in BNB holders.

CEO Changpeng Zeng from Binance, a crypto trading platform, thinks that external factor is establishing uncertainty, fear, and doubt among users of the platform, as well as BNB holders. The biggest exchange by volume experienced a big increase in withdrawals from its platform despite issues with money laundering. 

Binance is the biggest crypto trading platform by trade volume, and it was surrounded by issues since the collapse of SBF or Samuel Bankman-Fried and FTX. Binance witnessed an increase in withdrawals, which includes a 24-hour window where $3 billion worth of digital assets got out of Binance last month. 

The CEO of Binance addressed the concerns of users, stating that the previous wave of fear came from external factors. Zhao shared nine probable reasons why there’s uncertainty, and they argued that external factors drove the fear among shareholders who withdrew their funds. 

According to Forbes, Binance is under investigation related to money laundering. Also, it assisted the United States or the US Drug Enforcement Administration in a drug collusion case. An illicit drug supplier utilized the platform to launder money. On the other hand, Binance collaborated with authorities for the investigation.

A previous development unveiled that Zhao sent personal emails to all clients to address the fear, doubt, and uncertainty surrounding the company. However, the number of exploits and attacks on the chain of BNB might pose a challenge for crypto users despite reassuring people about the safety of their funds. BNB trades at $243. 

On another note, 2023 appears to be the year for cryptocurrency after BNB sponsored the After Hours Til Dawn world tour’s second leg by the  Weeknd. Binance supported the event on the first leg, which is why it’s supporting the second one now. 

Binance opens the cryptocurrency world to many probable new clients. Moreover, a new project, Dogeliens (DOGET), will be opened to the public next year. It appears as if this new project has the probability to be a big success in the crypto market. 

The Weeknd publicized his tour schedule for the second leg. The first one took place in 2022, which was in USA and Canada. It’s the first musical event sponsored by digital asset, and Binance will continue to sponsor the Weeknd’s tour in 2023 around Europe. 

Moreover, Dogeliens (DOGET), the new project, is a new meme coin that will be introduced in the market in 2023. There’s no exact date yet, but it’s in the early phases of the presale. 


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