Binance’s Robinhood Moment, Jack Dorsey’s Favorite Miner

Is Binance experiencing a case of bad news being a good thing? On Thursday, NatWest became the third major U.K. bank to block customers from making payments to Binance, the world’s biggest cryptocurrency exchange, after local regulators last month banned the app without stating a reason—other than issuing a public warning about crypto’s volatility. The exchange, whose CEO Changpeng Zhao is based in Singapore, now faces regulatory crises in at least seven primarily Western countries while its rivals Coinbase and fast-rising FTX largely remain in officials’ good graces. 

Crypto firms like Binance often find themselves in legal hot water because regulatory rules were written for traditional financial companies, said Josh Goodbody, chief operating officer of digital asset custodian Qredo and a former executive at Binance. “With any organization that grows so large and so global, so quickly, you will always face regulatory headwinds, he said.

So just how much trouble is Binance in?