In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD and the SEC and CFTC lawsuits related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward.


Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

  • how the collapse of FTX impacted Binance and its market dominance
  • how Binance has been losing market share over the past few months
  • why Steven believes that Binance.US is in a “very tenuous situation”
  • whether Binance is feeling stronger now that the SEC experienced a partial loss in the Ripple case
  • the consequences of consumers losing trust in Binance, according to Steven
  • the speculation around the recently filed sealed motion filed by the SEC
  • whether the theory that Binance is the next FTX has some merits
  • how Binance.US needs to recuperate some market volume to increase its revenue

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Read the episode transcript here