- A headline across the Bloomberg says Binance is facing probes by the U.S. Justice Department and the IRS.
- The news has sent Binance Coin (BNB-USD) sharply lower, now off nearly 12% for the session. That coin had previously been about a 15-bagger over the previous year. The news has also cut short a very modest bounce in bitcoin (BTC-USD), which has now slid back below $49K. Competitor exchange Coinbase (NASDAQ:COIN), is now down 6.5% to a session low.
- In terms of trading volume, Binance is the globe's largest crypto exchange, but closed itself off to U.S. users last year, moving them to Binance.US.
- The FUD is strong today, with this Binance story coming on top of Tesla's retreat from Bitcoin transactions.