I wrote this on December 14th 2022: https://www.publish0x.com/twodogscaged/cryptocurrency-binance-what-the-investigation-is-about-xrgrkzw At that time, the day prior was the first time I had heard about the anti-money laundering laws and the possible charges against Binance and it's leaders.  

I wrote this in January 2023: https://www.publish0x.com/twodogscaged/cryptocurrency-this-is-not-fud-is-binance-in-trouble-xqedeln At that time I questioned whether or not CZ was acting more like SBF or if he knew something we all did not. He was making decisions that others were not, such as hiring when everyone else was laying people off. 

I bring up these past articles I wrote to demonstrate that there are always signs of problems before the smoking gun is revealed. 

Today, CZ plead guilty to money laundering charges.  Here is an article that provides more detail and context: https://www.cnn.com/2023/11/21/investing/binance-changpeng-zhao-treasury/index.html 

I also wrote an article about being happy that I chose to go with Coinbase as my crypto exchange. They are listed on the Nasdaq and are regulated (as well as they can be in the US) to operate legally. The premise that I use when thinking about and investing in cryptocurrency, emotionally and sometimes financially includes thinking about a solid foundation, having good people in place, and not ignoring the signs of whether there is smoke there.  

I am not happy this has happened to Binance, we do not need more negative press. However, I am happy that they continue to weed out the fraudsters and criminals.  In the long run, this is best for the long term health of cryptocurrency.  I hope Binance does not fail, but there will be a lot of negative repercussions of this as the news cycle continues, such as when he is sentenced, when he reports to prison, and what happens with who takes over Binance.

To use a boxing metaphor, Binance was on the ropes and was knocked down.  The question is whether or not hey get back up again.