Some senators in the US signed a letter accusing Binance of fraud. I think what is going on with Binance, is far more just about regulations, it is more about taking out the competition. Binance is the biggest cryptocurrency exchange in the world and I believe that regulations are going to bring in institutions. Institutions as they do in every space come in and they capitalize it and Binance and CZ stance in their way. I think centralized entities in the cryptocurrency market role to play in the onboarding and off-boarding of capital into the space. All this that we are seeing is shocking, first of all, it was the Paxos BUSD which means BUSD is now no longer going to be used.

Binance exchange is a massive target on their back and the target they have on their head is because of competition. Competition is not good for these people and they have a habit of just rid of them. I'm in support of regulation, the only way you can avoid regulation in the US is if you overthrow the people that are in charge and that is not going to happen. They are going to regulate the space and this is when we will see one billion users or mass adoption. They are also trying to stop Binance from buying Voyager because the SEC object to Voyager deal.

The price action surrounding XRP has retreated due to the pending lawsuit. You can piece together the impact if we can get a landmark legislative ruling in favor of Ripple. That will change the landscape when we talk about the overall crypto landscape as we look for more precedent as well as getting clarity with the commodity versus security battle. I think dragging out the lawsuit is kind of overshadowing the fact of how monumental a decision and the precedent being set by that decision is for the overall state of crypto. For those that are unaware, John Deaton is the attorney that is representing Ripple in this ongoing lawsuit. The reason why he is covering this case and representing 75,000 XRP holders is that Ripple can afford to drag out an appeal by selling XRP while this appeal is on and on. He says that there is no clear timeline for when Judge Torres will give her ruling when it relates to the ongoing trial.


Binance is still standing strong and if anything should go south, the whole crypto market will suffer.

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