For the sake of clarity an explicit definition of short, medium, and long term is required. In this work short term refers to the 2–4 and 4–8 day period bands. Medium term refers to the 8–16 and 16–32 day bands. Long term will be used to refer to the 32–64, 64–128, 128–256 and 256–512 day bands. The short, medium, and long term bands will be considered separately to begin with, and then considered collectively alongside the results of the GSADF bubble test.
Zhao recently said that Binance.US is expecting to close a funding round shortly. He reiterated that the U.S. business, which was launched in 2019, is planning an eventual public offering.

“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.