Today in Markets

What's Next for BNB?

BNB is down after the DOJ played its hand
Nov 22, 20231 min read

BNB Future in Doubt: As the Binance ruling sinks in, BNB is sliding, down 11.5% in the past 24 hours. With CZ facing prison and Binance stuck with regulator babysitters, BNB's future of open road might be running into traffic. Will investors stick around?

While Binance can stomach a $4.3 billion fine, let's not act like this is pocket change. Binance is still poised to print cash rolling into another bull run, but it's playing a different game now as it aims to walk lock-step with regulators and is likely about to find itself circled by government agencies from other geographies that smell blood in the water.

The KYC/AML controls that Binance will likely be forced to make ironclad are going to assuredly cut out some market participants and bring lower volumes to the exchange.

Meanwhile, CZ has been accused of many things across Crypto Twitter, but few would say that the former CEO is anything but a shrewd and audacious leader. Losing the energy of a founder at the helm of any major public tech company would cause shareholders to reconfigure their expectations for the future.

BNB is an "independent" chain, but its link to Binance's future success is inextricable and the equation for that future success has changed.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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