Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
Recently, such platforms have come under increased scrutiny by lawmakers and regulators. Binance in particular is reportedly under review by regulators in the U.S., Britain, Germany, Japan, Hong Kong and elsewhere.

If there is one thing we all know about cryptocurrencies, it is that they are volatile. The stories about people making millions during a crypto upswing make the headlines frequently – but so do the stories of people who lose everything during the downswings.
In the wake of both Coincheck’s hack–as well as a big one that hit the South Korean exchange Coinrail–governments in East Asia began to crack down. Over the course of a few months, China, Japan, and South Korea all announced different measures to better regulate crypto-trading. The world was watching to see if this new technology would hit the mainstream–and government crackdowns following gigantic hacks helped poison the public perception.