I have been reading and writing about the fall of FTX over the past month or so. I have also been reading about other cryptocurrency exchanges. Something caught my eye today that led me to raise the question: "Is Binance the next exchange to crumble?

The article: https://www.cnbc.com/2022/12/13/crypto-exchange-binance-temporarily-halts-usdc-stablecoin-withdrawals.html addressed Binance's move to halt withdrawal of the stablecoin USDC. Apparently since the fall of FTX, and more recently there have been withdrawals of USDC. Are people moving their cryptocurrency to another exchange? I know I am not the only one thinking of the possibilities of a collapse.

Typically, a stablecoin can be used to transfer cryptocurrencies without the use of a fiat currency.  The apparent concern, whether real or imaged with Binance is that this pause in withdrawals is not typically a good sign for the exchange.  I know Binance is the world's largest cryptocurrency exchange, and I would be surprised it would fail. However, I was surprised by Terra/Luna and FTX as well as Bitcoin's marked reduction in price.  Time will tell.  

The reason outlined for the pause in allowing withdrawals of USDC is that Binance is doing a Token Swap. The reason outlined is to swap out one token for another (tokens not specified). 

Also, there apparently are rumors of possible criminal charges from the US Government against Binance. This is outlined here: https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/

I am particularly interested in the potential criminal charges. I am not for or against it. I am not trying to spread FUD as some may comment. My purpose for writing this is to process what I am reading and thinking about. I wrote earlier today (on PublishOX) about how I think SBF being criminally charged is good for the ling term health of cryptocurrencies as a whole. I don't want more FUD, but we need to weed out the fraudsters and the criminals. I do not know who they are, but we need whistleblowers to help speed up the downfall of the illegitimate. 

I am in no way suggesting Binance is illegitimate, or that it will collapse. I am just writing and thinking out loud as I read and come across information that I find interesting and important.