- Binance has decided to withdraw its main services from U.S. – despite having its single biggest user-base there (excluding VPN connections). This is a major U-turn for the firm
- The Block unpacks some of the underlying factors that preceded this move – including the firm’s long-term growth plans and executives’ personal fear of arrest
- Binance.com’s retreat from the U.S. also hints at the tension between a “decentralised web” and unavoidable regulatory dogmas
The announcement went live this morning, artfully while most of the U.S. was still asleep: Binance.com will withdraw its services from the country by fall.
It’s likely one of the biggest news stories of the year and could have major implications for thousands of local users and for Binance itself, which gets 42.45 million visitors worldwide each month.