Binance battles 'FTX redux' fears as US regulators blow-torch the crypto behemoth - but analysts think it will weather the storm
. The grilling comes as regulators tighten their grip on the crypto industry following FTX's collapse.John Reed Stark, a former attorney of the US Securities and Exchange Commission, tweeted earlier this month that Binance is"Crypto industry experts, however, don't seem that worried about Binance's future.
"I think Binance is here to stay and has amassed an empire which will be hard to disrupt," Sotiriou said."Despite there being concerns around the transparency of Binance, such as no corporate governance, no headquarters, no CFO and no reputable auditor, there is enough evidence for me to predict that they are sufficiently capitalized, if not 100% solvent," he added.
"We believe that post-FTX, the regulatory environment will be much less favorable for Binance and that they will face significant regulatory pressure across multiple jurisdictions. What this means is that the company will not only face substantial financial penalties but also the possibility of being forced to exit certain markets, restructure, or entirely segregate its various businesses," Le said.
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