Understood: Who Broke the Internet? cover image

The Naked Emperor BONUS: Binance and its CEO sued in major crypto case

Understood: Who Broke the Internet?

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The Dismissal of Authority

Finance is the largest crypto exchange in the world. Some days they have 70% of all spot trading volume, basically of crypto trading volume. Finances offshore operations seem to be at the core of a lot of this. It doesn't necessarily mean that they're operating illegally. But it does also mean that sometimes if they take those overseas business practices and bring them to a more regulated environment like the US or Canada, they might end up being in violation of the law.

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