The world’s biggest crypto firm is melting down

Binance's dominance of crypto is dwindling. (Image: Depositphotos)

Wed, 27 Sep 2023

By Patricia Kowsmann, Caitlin Ostroff and Angus BerwickAfter FTX crashed, the world of crypto seemed to belong to the largest exchange, Binance. Less than a year later, Binance is the one in distress.Under threat of enforcement actions by US agencies, Binance’s empire is quaking. Over the past three months, more than a dozen senior executives have left, and the exchange has laid off at least 1,500 employees this year to cut costs and prepare for a decline in business.And while Binance still looms large in crypto, its dominance is dwindlin...

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The world’s biggest crypto firm is melting down

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