Is this the end of Binance US?

The Commodities Futures Trading Commission recently lodged a case against Binance US and by extension Binance exchange as a whole, adding yet more salt to the injury that the crypto market is facing. It's almost as if the universe is talking to the entire industry and the message is "I'll kill you".

The news about the CFTC's Binance witch-hunt has not gone under the radar. Crypto experts and market watchers alike are genuinely spooked by this news due to the reputation of the aforementioned watchdog.

According to numerous experts, as covered by Cointelegraph, when the CTFC comes for you, they usually get you. Others have actually claimed that the move to clamp down on Binance's activities are politically motivated

The lawsuit from the commodities watchdog in the U.S. took many by surprise, with market observers and reporters claiming it to be a political move. Eleanor Terrett, a Fox news reporter, tweeted that sources close to the CFTC suggest the commodities regulator decided to go for a lawsuit to show the Securities and Exchange Commission (SEC) that this is a commodities issue rather than a securities one.

The Cointelegraph article doesn't exactly speculate the direction of the alleged political move by the CTFC but who really can? I've been around long enough to know that moves motivated by politics are often multiple-edged swords and only the player knows the true motive.

On the surface, which is really all we have, we know that this move is targeting Binance and ultimately, CZ. We know this because it says so in the suit.

So, while Binance US has done it's utmost to distant itself from the general Binance platform, doing it's best to operate under American laws and even having its own CEO that is not CZ, CZ will still be getting an earful.

More FUD, that's all

The way I see it, this is just one more in a long line of FUD that we've had to deal with this period. The crypto market just can't seem to get a break.

Don't get me wrong, I'm not pleading the case of Binance or anything like that. Truth is, knowing how most CEXes operate, it is actually very likely that they've broken laws and rightly being prosecuted for it, it's not my place.

All I'm saying is from a Bull or Bear market point of view, this situation is clearly leaning to the latter and will most likely be ammunition for the FUD machine to perpetuate more bearishness.

For Binance though, this is really bad news. The American market constitutes a large proportion of their portfolio and ending their activities there could be detrimental.

Considering the CTFC's reputation of not wasting time with cases and typically having concrete evidence before pursuing cases, we could be seeing a worse case scenario. The end of Binance US will be absolutely horrible for the general market and in all likelihood, we might be stuck in this bear market for the foreseeable future.