Crypto prediction market says Binance has 12% chance of insolvency by 2024
Decentralized Crypto prediction market Polymarket is currently giving Binance a roughly 12% chance of becoming insolvent by the end of the year. And while this number may seem pretty low, the fact that the bet is being taken at all is noteworthy in itself. According to Polymarket ’s website, the bet, which went live on July 17, will resolve to ‘Yes’ “if it is announced by December 31, 2023, 11:59 PM ET that Binance .com is insolvent or is filing/has filed for any variety of bankruptcy.” It will also resolve to ‘Yes’ if “ Binance.com withdrawals for BTC and/or ETH are suspended for a majority of users for at least 7 full days (168 hours) in a row by December 31, 2023, 11:59 PM ET.” If neither of the above criteria are met, this market will resolve to ‘no’. While Binance US and its performance aren’t taken into account for this wager, it’s worth taking into account that just las...