![]() prosecutors may be looking into charging CZ for multiple infractions.īarely a month later, in late January 2023, it turned out that Binance had been aggregating users’ and the company’s assets, essentially mingling its own funds with those of some customers. In December 2022 the news broke that U.S. For example, there are allegations that Binance facilitated money laundering to the tune of hundreds of millions of dollars during its time in Malta. However, Binance also showed up in the news in less positive ways. Only Coinbase and the fallen FTX breathe the same rarefied air. For one, it’s one of the biggest exchanges out there, with a market capitalization (a fancy term for its total value) that dwarfs most of its competitors. ![]() In its short existence, Binance has made a name for itself in several ways. Keep reading this Binance review for full details on the exchange.Ĭhangpeng Zhao, the CEO of Binance, is commonly called “CZ” by Binance traders. This risk is multiplied many times over should you start speculating in crypto derivatives, which Binance also offers. Crypto values can rise fast, but they can also plummet, leaving you wiped out. That said, the company has had some issues in the past with regulators, and we recommend that you don’t keep cash in the exchange unless you’re actively trading it.īefore you read on, note that trading crypto is incredibly risky even at the best of times. Overall, Binance is easy to use, and we like how transparent it is with its fees - though they can rise a little high compared to other cryptocurrency exchanges.
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