If the majority of your crypto is held on Binance, think about your next steps

Right now it seems that there’s more bad news about Binance every day.

Even a quick glance at this sub will show you numerous negative posts, which are in a very similar vein to those we’ve seen previously about different exchanges which are now no longer in business.

I know it seems difficult to imagine Binance going under, but we’ve already seen in the last couple of years that no business is too big to fail in crypto. We really have no idea what’s going on behind the scenes, and high end staff involved in crypto exchanges sometimes have very little in the way of a proven track record in business. We don’t know to what extent the business is complying (or not complying) with the necessary legal requirements.

I’m not saying they’re going to fail, or to pull all your money out, I’m just saying that we’ve been in similar situations before. If the majority of your crypto is held on Binance (or any exchange), think about your risk tolerance and whether it’s worth spreading some of it out elsewhere.

Thanks