It's time for new drama in the crypto world. And this time it's AGAIN someone, who got trusted by millions. 

But what happened?

CZ, founder of binance the biggest crypto exchange in the world announced that he will finally step down from the position of CEO in his own company after he found guilty of violating money laundering policies and pay a hefty fee of around 50 million dollars as a consequence.(I know this is nothing compared to what he owns..)

This raised a lot of eyebrows because exactly one year after CZ helped exposing FTX and SBF it seems like the only left posterboy of cryptoexchange CEOs seems to be questionable, too.

Even though: The strong market at the moment didn't not really take a hit so far. Only some coins like BNB took a little hit but in my opinion not even a big one, considering the huge loss of trust.

Finally there is one important rule which seems to be more important then anytime before since we have our favorite alternative currency's:

IF ITS NOT YOUR KEYS, ITS NOT YOUR MONEY!

So will binance be in financial trouble?

I think it's safe to say that binance is right now trying everything to get financial problems out of the way asap. It's still possible that they fail and as they are not regulated like for example  public firm Coinbase, everyone who keeps their crypto in their wallet, is taking a huge Risk.

Be prepared for the worsed. Playing it safe should be the most important thing during these times!

Nothing I write here is financial advise and never forget to do  your own research. No matter where,!

As always. Have a great weekend.

Cheers😃