With Execs Leaving and Market Share Declining, Can Binance Survive? - Ep. 544

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 15 September 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD and the SEC and CFTC lawsuits related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: how the collapse of FTX impacted Binance and its market dominance how Binance has been losing market share over the past few months why Steven believes that Binance.US is in a "very tenuous situation" whether Binance is feeling stronger now that the SEC experienced a partial loss in the Ripple case the consequences of consumers losing trust in Binance, according to Steven the speculation around the recently filed sealed motion filed by the SEC whether the theory that Binance is the next FTX has some merits how Binance.US needs to recuperate some market volume to increase its revenue Thank you to our sponsors! Crypto.com Arbitrum Foundation Thales DAO Toku Guest Steven Ehrlich, director of research at Forbes Crypto Links WSJ: Binance, the Biggest Player in Crypto, Is Facing Legal Risks Over Russia More Binance Executives Leave, Including Some Overseeing Russia How the Binance CEO Operates: Weigh the Risk, Calculate the Reward What Is Happening With Binance? Binance Lays Off Over 1,000 Employees Some Binance.US Crypto Trading Was a Mirage, the SEC Alleges Binance.US Legal, Risk Executives Leave the Crypto Exchange Reuters: Crypto exchange Binance hit by executive exodus Paxos receives U.S. SEC notice over Binance's stablecoin 'BUSD' Binance CEO's trading firm received $11 billion via client deposit company, SEC says The Block: Binance.US can't grow until CZ sells stake, fixes regulatory issues: sources Binance to end support for BUSD, encourages conversion to FDUSD Mastercard, Binance end crypto card partnership in four countries Binance withdraws crypto license application in Germany CoinDesk: SEC's Secret Binance Court Filing Has Observers Bracing for Bad News John Reed Stark’s post on X CFTC: CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is a lot for one particular exchange.
0:03.6	Any company really, but an exchange
0:05.8	as consequential as Binance to deal with.
0:07.9	Binance US, obviously the first thing on their mind
0:11.5	is sort of trying to fight the SEC
0:14.1	and figure out a way forward.
0:16.0	I mean, there is a world where Binance can exist
0:18.6	where it's not quite as big as it was before.
0:21.9	I mean, there is a world where Binance can exist, where it's not quite as big, as it was before.
0:26.5	Hi, everyone. Welcome to Unchained.
0:28.5	You're no hype resource for all things crypto.
0:30.9	I'm your host, Laura Shin, author of The Cryptopians.
0:34.9	I started coming crypto eight years ago.
0:37.1	And as a senior editor at Forbes,
0:38.8	was the first main three-meter porter
0:40.5	to cover cryptocurrency full time.
0:42.5	This is the September 15th, 2023 episode of Unchained.
0:46.8	Today's episode is brought to you by OverTime Markets,
0:49.7	your premier, web-free sportsbook.
0:51.7	The innovative protocol is changing the game one match at a time,
0:55.4	powered by Thales, explore more at OverTimeMarkets.xyz.
1:00.0	Arbitram's leading layer-to-scaling solution
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.