Binance and CZ himself just settled with the US Department of Justice, the Treasury, and the CFTC. The stake through Binance’s heart won’t be the $4.3 billion in fines — it’ll be the compliance. 

Real finance businesses that don’t run on crime can do compliance — they just don’t like it. Businesses that run on crime are screwed.

We wouldn’t be surprised if Binance files for bankruptcy next year, and the regulators just become creditors in the bankruptcy.

This one is on David’s blog. [David Gerard]