Blockchain.com – The Uncontrolled Crypto Behemoth Running 37M Users!
The Celsius Network and Three Arrow Capital debacle perfectly demonstrated that the crypto market has a fundamental regulatory issue. In March 2022, the UK FCA warned that it could not efficiently regulate the crypto giant Binance Group, which operates a wide variety of legal entities in different jurisdictions. The same is arguably true for the Blockchain.com Group. The company claims to have 37 million verified users with $1T+ transactions, which accounts for one-third of all Bitcoin. Largely without supervision because the company is not licensed but just registered.