57.9% Say Binance’s $4.3B Fine Was ‘Very Reasonable’

Binance co-founder and former CEO, Changpeng “CZ” Zhao has admitted to charges of money laundering in the U.S. court and allegedly agreed to pay $4.3 billion. Going down as one of the largest fines in U.S. history, many reactions were received. To gauge public reactions on the matter, Real Research conducted a survey on the Binance $4.3 billion fine. The results are below.

Highlights:

• 57.9% felt that the fine that CZ was imposed in “very reasonable”
• 51.67% opined that CZ returning as CEO is only “somewhat likely”
• The crypto market could “possibly” decline further following the price drop of BNB token, say 49.32%

The survey on Binance $4.3 billion fine began with a poll on the public’s awareness of Zhao admitting to Binance’s money laundering $4.3B charges. 51.73% were well aware, while 36.13% were vaguely aware, and 12.13% were unaware.

Was Binance $4.3 Billion Fine Reasonable?

Reportedly, Binance failed to report to financial authorities or take adequate measures against suspected transactions with criminals such as terrorist groups, ransomware attackers, and money launderers. Accordingly, when asked whether Binance $4.3 billion fine was reasonable, respondents expressed the following: ‘very reasonable’ (57.9%), ‘somewhat reasonable’ (31.85%), ‘somewhat unreasonable’ (7.23%), and ‘very unreasonable’ (3.02%).

In November 2023, CZ resigned from the position as CEO of Binance, after pleading guilty to money laundering charges. However, the co-founder would remain the largest shareholder. When asked about the likelihood of CZ returning as the CEO in the future, 51.67% said it was somewhat likely that he would, while 27.3% said it was very likely.

In contrast, 17.42% felt his return was somewhat unlikely, and 3.62% felt it was very unlikely.

Awareness About Binance $4.3 Billion Fine, Exit U.S. Market

As per court documents released on the 21st of November, Binance agreed to pay a fine of $4.3 billion and reportedly withdraw from the U.S. market. Respondents were asked about their awareness of Binance $4.3 billion and subsequent exit from the U.S. market.

42.38% were aware, 41.62% were unaware, 16% were unsure.

Binance $4.3 Billion Fine– Aftermath

After news of the Binance $4.3 billion fine, exit from the U.S. market, and CZ’s resignation as CEO came to light, the price of the BNB token, in comparison to Bitcoin price, reportedly fell by over 10%. Respondents were asked to predict the probability of a further decline in the cryptocurrency market.

As shown below, 34.05% felt the price would ‘definitely’ fall, while 49.32% felt it ‘probably’ would fall. Contrastingly, 12.9% felt BNB’s value ‘probably’ would not fall, and 3.73% felt it ‘definitely’ would not fall.