Binance Under Investigation Raises the New Question to Crypto Being a True Investment

As of 20 May 11:45 PM, Bitcoin is 40,000 dollars, making it quite impossible for people to buy it. Hence, it leaves with either:

• pulling the price down
• frauds & scamming

Starting from March, it appears that CZ was quite dismissing the fraudulent reports and denying allegations of misconduct in Binance.

A Binance spokesperson said in an email to The Verge that it takes its “legal obligations very seriously. “

Talking about China who imposed a ban on coin offerings and termed it illegal in 2017. This triggered a 60% decline in bitcoin prices. But the following year, China has not barred individuals from holding cryptocurrencies.

As Bitcoin and other cryptocurrencies were plunging as anxiety spreads through the market — this time after China took more steps to crack down on the digital coins. Hence it leaves China to suffer from fewer cryptos.

Here’s the Bitcoin trading volume on online exchanges in various countries worldwide in 2020(in a million U.S. dollars)

Questions remain on what needed to be done to equalize the Holdings.

“There is absolutely no reason behind the FBI chasing Binance when the truth is the opposite of what we see. It is the USA trying to dump the market, so they get more bitcoin than china.” — says founder of Tenup, Zakawaqar.

The price of significant cryptocurrencies dropped as the “Binance under investigation” report broke. Bitcoin’s (BTC) price fell 3.8% from $50,270 to $39,336 at the time of publication. However, Binance Coin (BNB), currently the third-ranked cryptocurrency market cap, took an even bigger hit, falling more than 10%.

Many people forget that Binance belongs to a Chinese-born tech CEO Changpeng Zhao, also known as CZ, and there’s a 90% chance for China to benefit in these times of loss.

Source: https://themakingofamillionaire.com/binance-under-investigation-raises-the-new-question-to-crypto-being-a-true-investment-9f7fb160670b?source=rss——-8—————–cryptocurrency