The charges are likely to lead to market instability Binance
Binance and its founder, Changpeng Zhao, have already been slapped with charges by the Securities and Exchange Commission and the Commodity Futures Trading Commission, alleging the operation of an unregistered exchange in the U.S. and manipulation of trades. In a seemingly defiant response to the scrutiny, Zhao , cryptically posted"4" on his social media profile.
This is an oft-repeated reference to Binance Coin maintaining its position as the fourth largest cryptocurrency by market cap.Following the report, BNB experienced a drop of 2.5%, currently trading at $237.42. Despite the dip, Binance's native token maintains a slight edge over Ripple-affiliated XRP. The two cryptocurrencies are worth $36.9 billion and $35.9 billion, respectively.
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