The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
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Since the 2019 introduction of Binance.US, which Binance has referred to in the past as a U.S. partner, the international Binance has faced regulatory scrutiny — though that scrutiny has not extended to Binance.US. For example, Italian regulators announced on July 15 Binance was no longer authorized to operate in the country.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".