Consequently, analysts raised alarms about crypto markets and exchanges. They argued that these decentralized technologies are not governed by central banks or governments. Nonetheless, Binance said in August that it is trying to comply with regulators following a series of regulatory bans and warnings.
Gary Gensler, the head of the US Securities and Exchange Commission said crypto platforms should be regulated better, given that they host around 95% of market activity.
Meanwhile, Coinbase the largest publicly listed exchange also suffered an outage in September. It followed an unexpected increase in network traffic and market activity. On the other hand, Robinhood also experienced an outage that lasted a day and a half last year.
