Binance Dodges Worst-Possible Outcome for Crypto Market
Changpeng Zhao, former chief executive officer of Binance, speaks virtually to a conference in April.
Photographer: Anthony Kwan/BloombergIn this issue of the Bloomberg Crypto newsletter, Emily Nicolle weighs up investors’ reaction to fresh regulatory action in the cryptosphere.
Programming note: Bloomberg Crypto will take a break on Thursday, Nov. 23, in observance of the US Thanksgiving holiday. For breaking news, go to bloomberg.com/crypto. And thanks to all of our regular readers.
A major legal crackdown on Binance, crypto’s largest exchange, has long been one of the industry’s greatest fears due to the impact that losing its outsized slice of volumes would have on markets. But after two years of bankruptcies, fraud scandals and general mayhem elsewhere in the industry, it seems there’s little that can faze investors anymore.