Washington is going after the largest cryptocurrency platform

US authorities announced that they had filed a lawsuit against Binance, the world’s largest cryptocurrency exchange, and its president, Changpeng Zhao, on charges of willfully circumventing US laws.

• In its lawsuit before the Federal Court in Illinois (Northern), the Derivatives Regulatory Commission requested that Binance be specifically prevented from registering and selling certain financial products in the United States.

successive troubles

• Trouble began to haunt Binance after Beijing cracked down on cryptocurrency trading, and after the platform moved to Japan, it also suffered new restrictions and strict regulations, and today it faces investigations by the US authorities.

What about clients?

• The related challenges facing the Binance Exchange have thrown customers into a cloud of skepticism and uncertainty about what awaits the future of the giant platform, especially with what appears to be a harbinger of collapse, which some specialists see soon, while others believe that what it is exposed to is a mere whirlwind that will soon fade away and the platform will recover. She is fully recovered.

Binance market cap

According to the data of the CoinMarketCap platform, which specializes in tracking the market values ​​of digital currencies, the importance of the Binance Exchange lies in the fact that:

• Its daily trading volume reached about $76 billion in August 2022.
  Binance has over 90 million customers worldwide.
  Users can buy, sell and store their digital assets.
  Clients also have access to over 350 listed cryptocurrencies and thousands of trading pairs.