Long push: If Binance is caught by SEC for misappropriation of funds or even substantial losses, then Binance will end up like FTX did in the past.
If Binance misappropriates funds or suffers substantial losses, it could face similar consequences to FTX's past experience.
Original Author: Apokalypsis
Original Source: twitter
Note: This article is from the Twitter account @chirsisme and is compiled by MarsBit as below:
Let me talk about my views.
1. First of all, I express my pessimistic view on the outcome of this matter.
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Regardless of which country or field, as long as it involves political and business struggles, businessmen will always lose.
In fact, after the FTX incident, the SEC made it clear that they are after you, and they are talking to you to get material to kill you.
2. The announcement of Binance has made it clear that they have been actively cooperating with the SEC, but the SEC has now stopped talking for no reason.
So I can only guess one reason, which is that the SEC has obtained the material they want to kill you.
3. I don’t think this will be a fine, because there is no need to prosecute for fines. The old man at the SEC wants however much money he wants, and Binance can’t wait for you to name the price.
4. How do I see the impact of this matter on the future price of coins?
This depends to a certain extent on how much material the SEC can dig up on Binance.
If Binance can really prove his innocence, the best result is that Binance will permanently leave the US market, and even withdraw from the world’s first CEX position. This result will cause a short-term drop in the price of coins, but the amplitude can be accepted.
5. But if Binance is found by the SEC to have misused funds or even have a huge deficit, then Binance’s bankruptcy is not impossible, just like the unexpected bankruptcy of FTX. If this result occurs, it will be a gray rhino in the cryptocurrency circle, and the price of coins will definitely hit bottom, and many people’s dreams will be shattered.
6. The above judgment is only a personal opinion, please do not believe it lightly.