Will Binance Survive in 2024? | Coin Bureau Clips

The thing with CZ was that he was a you Know he was a coder he was a software Engineer who you know basically built Binance up from nothing you think Binance is powerful I mean black rock is Is next level isn't it this is probably The right time for a change of Leadership the landscape has changed a Lot today I sit down with crypto expert Guy Turner host and founding member of Coin buau and get his take on the recent Binance government Crackdown how this Changes crypto as well as his outlook For the B&B token into 2024 watch the Whole video it's been yeah I mean there Have been question marks hanging over Binance for a long long time and I think Everything that's happened in the past Sort of 24 hours obviously all these US Agencies sort of coming out yesterday uh Well or today your time um and you know Announcing this announcing all these uh All these things that binance has Supposedly done and this massive I think It's $4.3 billion dollar fine which is Which is pretty hefty um so yeah it's I Mean I think it's like I I think it's a Good thing really because there have Been so many question marks hanging over Binance and I think this is a good Opportunity for you know to to kind of Close that chapter and that is that is Good for crypto really that is I think We can all benefit from that because I

Think binance has always been well Certainly for a long time being you know One of these things kind of lurking Beneath the surface that may or may not You know pop up and and uh and be a Black Swan all of a sudden so I think This is I think this is a positive thing This has been a dark cloud looming over Binance for the last year I agree it is A good thing to kind of just let you Know we can move on binance pays the Fine Cy steps down does that cause fear In terms of like the success of binance Without its leader CZ in your mind no Not at all um I think you know Richard Tang who is who's stepping into cz's uh Shoes is you know a really really Experienced guy he's got he's got a very Impressive CV you know he was uh he was Working uh in you know he was Chief Regulatory officer at the Singapore Exchange for I think about sort seven Years he was uh he's C he was CEO of Abby dbby Global markets he's you know He's a trafi guy he's got a lot of Experience in that field uh he's well Connected he's very personable he's a Great guy I've met him and uh chatted With him a couple of times in fact I Interviewed him in Singapore at token 249 and he's a really he's a really good Guy I think and I think he is the right Person to sort of take binance forward From now and I should say that's not to

You know throw any shade on CZ I think The thing with CZ was that he was a you Know he was a coder he was a software Engineer who you know basically built Binance up from nothing and sort of Found himself in this position of being The CEO of the biggest crypto Exchange In the world you know they kind of had To you know they kind of had to make it Up as they went along in a sense because This was you know this was New Territory This was Uncharted Territory for Everyone involved and so I think you Know CZ found himself sort of thrust Into this role I can't speak for him I Don't know whether that's something that He necessarily wanted or ever dreamed of For himself but nevertheless that's how It turned out and I think he did an Amazing job of bringing binance to where It is now you know still the biggest Exchange in the world and but I think You know this is probably the right time For a change of leadership the landscape Has changed a lot in the last few years Since binance launched uh the you know Crypto is a very different industry now And I think I think you know Richard Tang is is is a good person to you know To take binance forward into the sort of Next next phase of their evolution so I Think it's good for binance and as I Said that's that's good for crypto as Well there's a rumor going around that

Some of this was planned Black Rock took Down binance in order to clear the way For a spot Bitcoin ETF what are your Thoughts I mean I'm I like a good Conspiracy theory as much as anyone so I I don't know who knows like black rock You think binance is powerful I mean Black rock is is next level isn't it um And yeah I mean I think one of the Things that's as I understand it has Sort of always held back spot ETF Applications is this idea of a lot of You know Bitcoin uh Bitcoin trading Volume being on you know quote unquote Offshore exchanges you know in US terms So binance is is definitely falls into That bucket so I think that was possibly Always a concern for the SEC I mean the SEC just doesn't like binance full stop Um so yeah could Black Rock have have Made this happen it's not beyond the Realms of of of possibility I mean That's yeah there would be some pretty Big 3d chess going on there if that was The case but I mean look you know Black Rock has black rock is very powerful Black Rock has the ear of people in you Know these agencies and in government as Well so who knows I wouldn't I wouldn't Rule it out put it like that some people Are saying that well number one this is The fact Black Rock Vanguard their Investors in coinbase number two the SEC Has given this black rock is not the

First spot spot Bitcoin ETF application There's been applications for years not By Black Rock but the note has always Been there's too much manipulation in The Bitcoin Market leading to the Speculation well if uh if uh the largest Exchange is offshore and we don't Control we don't know what's going on Behind closed doors of that exchange Binance then binance has to lose heavy Market share in order for a spot Bitcoin ETF to come into fruition does this make You more bullish on the spot Bitcoin ETF I mean I'm bullish enough on the spot ETF I think I think it will come I Because I don't know how much this is Going to necessarily affect binance's Market share you know this is a I mean It's a massive fine that binance has to Pay four 4.3 billion ion dollar that is That is a heck of a lot of money even For you know even for an entity such as Binance but whether that affects its Market share I don't know because it Already doesn't really have a US Presence obviously the US market is huge But binance has you know a pretty strong Presence uh across much of the rest of The world and perhaps this you know These recent developments might be Enough for other jurisdictions to go Well look you know binance is settled With the US you know as far as we're Concerned this sort of cloud has been

Lifted that could pave the way for you Know for binance to uh to make up market Share in in those other jurisdictions it Could also increase you know consumer Confidence users might be like well you Know now that now that this isn't uh now That the US authorities aren't sort of Circling binance anymore and this thing Has you know presumably been resolved That might make them more confident to Trade on the exchange so I I don't think This is the necessarily the uh you know The moment where binance starts to lose Massive market share I mean it has lost Market share over the last year or so um But you know it's still it's still the Biggest uh By and By you know a fair Margin as well and so I think yeah I I I Think that's definitely worth bearing in Mind but having said that I still think The ETFs are you know more likely than Not to be approved regardless I think in A lot of ways Cy stepping down paying The fine just getting this over with um Allowed binance to dodge a bullet it's Like that's I'll move on from this yet Markets are emotionally driven and the B&B token was tanking today on the news What's your outlook for the B&P token in General looking Forward I mean you know as with all Exchange tokens it kind of Rises or Falls with with the exchanging question Um I think you know it it did recently

Get overtaken by xrp didn't it briefly Um to xrp sort of went Higher by market Cap um but I think BNB I mean I would Imagine that the Outlook is is still Pretty good for it I imagine that Binance's trading volume will remain High even if it does fall a bit um and Like all exchange tokens I mean it's There's always this there's always this Kind of business you know binance can Can Mint or or burn as many as they like So I think binance will be able to will Be able to keep BNB ticking along fairly Fairly okay is is is how I see it Panning Out we don't have to get too deep into This but what are your I mean what are The best exchange tokens honestly the Only reason you need to have them is if You're using the exchange it's off often Cheaper fees binance is honestly more Than an exchange token it's its own defi Ecosystem now um but what are the top Ones in your mind I mean I I think They're all kind of much of a much I Guess you know I guess BNB as you say Because it has this whole other Ecosystem Beyond just being an exchange Token and paying for fees I mean uh it Depends I guess what exchange you're You're using um you know if you if you Use I don't know if you use K coin a lot Then then KCs is is a useful one for you If you use binance then BNB Etc so guy

Final thoughts on the people watching This binance news over the last couple Weeks they're scared they have questions Final thoughts to them um this is this Is a big moment for crypto because a a Big sort of black cloud appears to be Clearing and that is that is good news Not just for binance but for crypto as Well um so this and lots of people have Been fudding binance for a long time and What I will say is that they've always Processed withdrawals they survived or They survived billions I of dollars Worth of withdrawals in the wake of FTX For example they had a stable coin with An absolutely massive market cap that They were forced to you know to Basically offload they did that they Succeeded in doing that as far as I'm Aware no one lost money um with with Buusd um so so far binance has coped With everything that's been thrown at it And I think they will cope with this as Well and I think it will bring a little Bit more certainty a little bit more Clarity to the crypto Market but you Know there are it there's a lot Happening Beyond binance remember the uh Coinbase is still is still locked in a Legal battle with the SEC the SEC went After Kraken again uh yesterday or the Day before you know again they got them For their they got a massive fine out of Them for their staking services and now

They're back at them um I think it's Unregistered Securities offerings this Time around so you know the the the SEC Us authorities are still very much on The war path but I think if uh if Binance is kind of in the clear now if They can reset and you know not face Further action from us authorities then That is definitely a good Thing