Binance.US is not doing well at all right now, USDT was depegging at $0.92 and BTC was trading at $27.7k suddenly.

For quite a lot of time many of us would have thought that empire that CZ build over the years and established as by far the No.1 Crypto Exchange worldwide is invincible, guess we were wrong. Or at least we can start to question it now, as the subsidy and US unit of Binance, Binance.US is facing some real troubles right now. Even since the sEC targeted them and Binance had to limit nearly all of their services there, something very sinister is happening.

Apart from the fact that they lost a bunch of their market share in the US to Coinbase and even Kraken, it is probably the first time that Binance is actually getting near some competition in any country. But even worse:

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Chart showing USDT depeg and BTC trading at premium on Binance US, from James V. Straten

As we can see here, the USDT has just depegged recently to $0.92, something that only happened on Binance.US and even Bitcoin has been trading at a premium on Binance.US for quite a while now. While worldwide BTC prices were above $30k, on Binance.US they were just $27.7k. Which is a quite big difference.

This makes us all realise that truly no one is “too big to fail“ as this bear market has shown us numerous times already in this bear market and even the once invincible-thought empire of CZ falls under this category. Let‘s see where the waves of Crypto and messed-up regulations in the US take him.