Podcast

Bitcoin Down After Japan FSA, Binance News

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #23

Early on the morning of March 22nd, the Nikkei Asian Review published an article with the headline “Japan to warn Hong Kong-based crypto exchange: Criminal charges to be filed if Binance fails to halt Japan operations.”

Yikes — It certainly got our attention!

The FSA has been clamping down on cryptocurrency venues after a $500 million theft from Japanese exchange Coincheck in January.

CZ, the CEO of Binance, took to Twitter saying, “Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates.”

Within minutes of the news story circulating, bitcoin took a swift nosedive, dropping over 5% from $9040 USD to trade at just above $8600 later in the day, at the time of reporting.

Do you think there any truth to this or is it just another case of irresponsible journalism as CZ claims?