Now there is another news about the Binance exchange. It seems that things are not going towards the right direction and something is cooking behind the scenes. The US has not been playing well and fair in the market and the authorities are targeting different exchanges and companies that are dealing in cryptocurrencies. It's not that us is going against the crypto currencies but it seems that they are creating a different type of atmosphere where it will be difficult for foreign companies to operate.
We have already seen how one of the biggest exchange founders has been targeted and is still after the settlement he is not able to move outside the US. This is not a good signal in the market because it might discourage many other companies from thinking about setting up their businesses in the US if they come from a crypto background.
Now there is another news that Cristiano Ronaldo is fined $1bn for doing ads for Binance exchnage. I don't see what it means is the way that many companies follow to gain more attention in the media and from the general public and for this region, they hire different celebrities. it is a thing of the past when this celebrity did the advertisement for this exchange but now he has been targeted with a huge penalty of one billion U.S dollars.
Don't know where this US authority is and how they are planning to go in a different direction completely. Although the market is not impacted much even after this news and the other one. Now the people in the crypto market believe more in self custody and they think that it is the best way to keep the crypto secure while keeping only the required funding exchange wallet.
The current atmosphere in the crypto market is not good but it is worth watching because we don't know how things will be and it's important to stay updated with things happening around us.
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