![]() ![]() ![]() very low volatility followed by an explosion of volatility. The disadvantages of Binance Futures are: high risk, market volatility, periodic fees, squeezes i.e. The advantages of Binance Futures are being able to: bet against the market, put leverage to increase your earnings, hedging which means to take 2 opposite positions to hedge. It allows you to open Long positions (upward bets) and Short positions (downward bets).Īllowing very rapid gains but also equally rapid losses, Binance Futures leverage should be used sparingly and knowing the risk of liquidation of your position. The exchange will need to address these allegations head-on and take steps to improve its compliance practices if it wants to avoid further regulatory scrutiny.Binance Futures is the leading cryptocurrency futures trading platform with leverage up to x125. These departures raise concerns about the stability and direction of the company.Īs the allegations against Binance continue to circulate, the future of the exchange remains uncertain and threatens to damage its reputation and business. The challenges faced by Binance have been further exacerbated by the departure of several key executives, including the senior vice president for compliance, the general counsel, the head of investigations, and the chief strategy officer. ![]() The focus of these investigations is on whether Binance failed to implement sufficient safeguards to prevent money laundering. The regulatory scrutiny surrounding Binance has intensified, with other law enforcement agencies such as the Securities and Exchange Commission (SEC) and the United States Department of Justice conducting investigations into the exchange and its CEO, Changpeng Zhao. The CTFC lawsuit also accuses Binance of inadequate measures against money laundering and other illicit activities. The lawsuit contends that Binance deliberately attempted to evade US laws by enabling American customers to conduct illegal transactions using techniques like virtual private networks (VPNs) to hide their locations. Regulatory CrackdownsĪdding to Binance’s challenges, the company is currently facing a lawsuit filed by the Commodity Futures Trading Commission (CTFC). Such claims raise questions about the level of control users have over their funds and the decision-making process within the exchange. Related: Peter Brandt Calls Binance.US and CZ the Scam of the Decade – Here’s What Happenedįurthermore, Cochran alleged that Binance makes decisions regarding user assets without obtaining their consent. ![]() This raised doubts about Binance’s transparency and intentions. Cochran shared a screenshot on Twitter suggesting that Binance’s motive behind this update was to allow users to trade Bitcoin Cash (BCH) while creating the illusion of backing the trading volume with an unbacked shell company coin. 8hFQkneWNP- Adam Cochran (adamscochran.eth) July 10, 2023Ī specific point of concern raised by Cochran relates to Binance’s recent announcement of zero-fee trading pairs, specifically BCH/TUSD and CFX/TUSD. Suddenly add a BCH/TUSD trading pair with zero fees, so you repost BCH and continue the ponzi, and they support that volume with Sun’s unbacked shell company coin.įucking told you. Binance US runs out of BCH to back all their BSC Binance Pegged BCH. ![]()
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