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Binance-CFTC FUD puts BNB price at risk of dropping toward $200

Published 03/28/2023, 08:15 AM
Updated 03/28/2023, 02:40 PM
BNB/USD
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BNB (BNB) looks set to wipe out its March gains entirely as investors turn their attention to the latest regulatory crackdown on Binance, the world’s leading crypto exchange by volume.

On March 27, the United States Commodity Futures Trading Commission sued Binance and its CEO, Changpeng “CZ” Zhao, alleging that the company illegally offered crypto derivatives services to Americans and facilitated illicit financial activity.

BNBUSD daily price chart. Source: TradingView
BNB price reaction to regulatory crackdowns since 2022. Source: TradingView
BNB/USD daily price chart featuring rising wedge breakdown setup. Source: TradingView
BNB/USD daily price chart. Source: TradingView

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