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

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

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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

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