A top exec at the world's largest crypto exchange breaks down the single-biggest risk for the market in 2023

• Patrick Hillmann is the chief strategy officer at Binance, the world's largest crypto exchange by volume. 
• The exec explained how poor regulation could lead to increased crypto market volatility. 
• Binance has faced a series of US investigations into its business from the DOJ and SEC. 

Cryptocurrency markets have made significant strides to recover from 2022' crises, with bitcoin soaring about 50% since the start of the year and the total crypto market value edging back above $1 trillion. 

But a top executive at crypto exchange Binance said more volatility could be ahead in 2023. One of the biggest market risks, according to Chief Strategy Officer Patrick Hillmann, is an increasingly stringent and poorly executed US regulatory crackdown.