Why did Binance fall?

Could you explain why Binance fell? As a professional practitioner in the field of cryptocurrency and finance, I'm sure you have a deep understanding of this matter. Was it due to a technical glitch, a security breach, or perhaps a regulatory issue? Given the significant impact this event had on the cryptocurrency market, I'm curious to know your professional analysis and insights. Could you please elaborate on the reasons behind Binance's fall and its potential consequences for the industry?