In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD, and suits with the SEC and CFTC related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward. Show highlights:How the collapse of FTX impacted Binance and its market dominanceHow Binance has been losing market share over the past few monthsWhy Steven believes that Binance.US is in a "very tenuous situation"?Whether Binance is feeling stronger now that the SEC experienced a partial loss in the Ripple caseThe consequences of consumers losing trust in BinanceThe speculation around the recently filed sealed motion filed by the SECWhether Binance is following in the footsteps of FTX How Binance.US needs to recuperate some market volume to increase its revenueThank you to our sponsors!Crypto.com   |  Arbitrum Foundation  |  Thales DAO  |  TokuGuest | Steven Ehrlich - Director of Research at Forbes Crypto.Links | WSJ: Binance, the Biggest Player in Crypto, Is Facing Legal Risks Over RussiaMore Binance Executives Leave, Including Some Overseeing RussiaHow the Binance CEO Operates: Weigh the Risk, Calculate the RewardWhat Is Happening With Binance?Binance Lays Off Over 1,000 EmployeesSome Binance.US Crypto Trading Was a Mirage, the SEC AllegesBinance.US Legal, Risk Executives Leave the Crypto ExchangeReuters:Crypto exchange Binance hit by executive exodusPaxos receives U.S. SEC notice over Binance's stablecoin 'BUSD'Binance CEO's trading firm received $11 billion via client deposit company, SEC saysThe Block:Binance.US can't grow until CZ sells stake, fixes regulatory issues: sourcesBinance to end support for BUSD, encourages conversion to FDUSDMastercard, Binance end crypto card partnership in four countriesBinance withdraws crypto license application in Germany CoinDesk: SEC's Secret Binance Court Filing Has Observers Bracing for Bad NewsJohn Reed Stark’s post on X CFTC: CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives ExchangeUnchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.