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Sometimes, I see things differently from other people's perspective, and this case of CZ against other exchanges is no different. This might be because I started trading and investments in sane climes where strict regulation thrives, not like in crypto where exchanges do whatever they want with people's money. Many might be blaming CZ, but I blame him less.

Yes, he's instrumental in crashing FTX, but is FTX and SBF guiltless? No. How many of you would have a $2.1B investment in a company and suspect stress and foul play and will not withdraw the money? His (BSF) illegal activities called for it and made the decision of CZ effective. This would have played differently if SBF is ethical, sincere, and played with people's money with a good level of professionalism.

As the largest exchange in the industry, Binance has the responsibility to protect its business and its environment, especially when it is underregulated. If the environment becomes unconducive and panic lingers beyond normal, it might affect even Binance, that's business for you. This is what the guy is avoiding, I think, though many see it differently as being selfish.

This is people's money we are talking about, none of the rivals of Binance should panic or conclude a foul play if they are sincere and professional enough. We should stop pitying centralized exchanges, they don't care about their customers and their money, they act like gods and play as they like with people's money living 5-star lives all around the world. They should come clean if they are truly what they preach. But I dare them, only a few would survive integrity test.

Should we now be supporting their illegality? Anyone of them should attack Binance too if they want to, it's called a healthy rivalry, all I want is the protection of people's money and sincerity of their operation.

I don't even support centralization again, yet let's stop accusing CZ to force other centralized exchanges to do the right thing and stop fooling people in the name of exchange.

What matters most is not to leave your coins on an exchange, ones it is there, it is not yours on blockchain, you have no full control over your own coins. Exchanges means to exchange and not to safe or hold your coins on an exchanging platform. Nobody is blaming Binance CEO, and if anyone is blaming him, that is life, you can not expect people to think the same. But what most people are after is that CZ actions is leading to centralization, he created the Beacon chain, the BSC, automatically converting USDC, TUSD and USDP to BUSD on Binance, said to increase liquidity when USDC has been the alternative main traidng pair on some other exchanges. He bought Coinmarketcap, Forbes announces $200 million strategic investment from Binance in early this year. CZ wanted to be a big player and dominate the crypto market (although bitcoin remain strong), but this is leading to centralization in a way that if Binance fall, it might almost collapse crypto market which will lead to loss of money even beyond what happened to FTX.

If there is no written liability agreement, playing with "people's money" which is not described in the terms of use page is not allowed in any way. Neither SBF, CZ nor the CEO of any exchange will try their best to avoid being sued by users although in the end they will have to face the law and be rather slow to remedy the situation out of coercion.

People's motives differ according to what they want to do. Some support CZ for nothing but that he wants to buy at a low price, and then he may attack CZ (Binance) because he wants to sell at a different price.

What I want to convey to you is that you do not trust anyone who is able to protect your money, or that he is the golden star who fears encryption and seeks decentralization, do not trust anyone, check everything and then decide what to do.

Look what YouTube channels did a while ago that glorified SBF, and today they don't all talk about him.

That's important no doubt, but if we're talking about FTX, CZ, and SBF I'd say there are massive issues that dwarf that pearl of wisdom.

The move CZ pulled in selling FTT was ruthless, and initially I thought it was even villainous, but after learning about all the shit SBF was up to and how FTX was run I've changed my tune about that.  All that money he donated to the democratic party....what a complete tool.  But I'll bet there's not much that's going to be made about that particular aspect.

On a side note, as I'm writing this I'm listening to MSNBC news and some jackoff is declaring crypto dead since there's been so much damage done.  He must not be aware of crypto's history.

1. You cannot really tell people what to think, OK? So that title is.. not the best choice.
2. I think that CZ was not aware of how very bad is the situation of FTX. So it was an ugly backstabbing, but on the other hand a lucky strike for uncovering a huge scam.
3. Keep in mind that CZ pretty much tried the same with Coinbase and although this exchange is a bit more solid and it was proven that CZ tweet on Coinbase was FUD (and soon removed), people still withdrew a could of billions worth of bitcoin from Coinbase (which is good if kept in self custody, but not great if just moved to another centralized system ie Binance).

So while it's most probably not CZ that orchestrated the huge scam at FTX, he's has his own "sins" and people have their right to judge him, at least for those.

You mean, the guy who at one point thought of a Bitcoin Reorg (https://www.coindesk.com/markets/2019/05/08/what-a-bitcoin-reorg-is-and-what-binance-has-to-do-with-it/) after his exchange had 7,000 Bitcoin hack?

The guy who endlessly keeps shilling his centralized BNB Beacon chain and BSC while at the same time create fake "Bitcoins" on the shitcoin chains for noobs to ignorantly withdraw because the withdrawal fees are lowered compared to the Real Bitcoin?

How do you even continue trusting such a guy, even after the FTX saga?
There are some people here who could defend FTX and SBF with their hearts if you said anything critical about him not so long ago. I see you are still probably so blind with the case of CZ until hell breaks loose some day.

Obviously for them to thrive, they have to be selfish, predatory and greedy. Don't tell me you don't know this.

So it's Ok for a full CEO to tweet un-researched claims about arrival exchange?


But you are already pitying one, along with their CEO. Contradictory, innit?

People should be smart enough not to trust anyone with their funds. Not even CZ. it's the whole point of Bitcoin.

it's obvious that there was a problem with FTX, Binance's reaction only revealed and accelerated the process. the justification that they actually took care of their investment and the money of their users has a real basis, but the impression remains that Binance has been very happy to use it.
considering that the recovery of the market will not be in the near future, it is likely that the whole FTX problem would escalate in the foreseeable future even without Binance mediation. I believe that if it had to happen, it is better as soon as possible in order to continue with further life/development.

It is even worse than that.  In this video (https://www.youtube.com/watch?v=0rL35_WV3lE) SBF admits that he donated the same amount to both the Democrats and Republicans, but the donation to the Republicans was so called "dark money". Watch from 1:00, it's SBF speaking himself twisting things like crazy.

You guys can check  this post  (https://bitcointalk.org/index.php?topic=178336.msg61364889#msg61364889)from me as well. There is another video mentioned (I posted elsewhere as well I think), but that one is worth watching because it clearly shows who SBF was. You won't believe it... That might also have contributed to CZ making his decisions. If he didn't have any insights into FTX and Alameda, there were certainly enough indicators to take action at some point. The way he did it remains perhaps questionable though. But FTX had to collapse. Enjoy the videos.

Why shouldn't we not be judgmental about CZ? Should we protect CZ and attack SBF? Should we spare CZ from our criticisms?

SBF and CZ are competitors. But it doesn't mean they're not of the same feathers. SBF is a douchebag. But it doesn't mean that CZ is not a douchebag. This is not a black and white, devil and angel, comparison. They're both douchebags. They're both hypocrites. SBF was a big failure. He deserved what happened to his empire, if not more. But this doesn't make CZ a hero. Again, they're both villains. They're both liabilities of crypto.

Sorry, I can't reply to every post, nevertheless, the replies below should shed more light on my disposition on this thread.

Thank you for the reply, nonetheless, permit me to reply to them one by one.

1. The topic is perfect for what I expressed. I had five different topics before opting for this since I didn't want to be biased. Advising us not to be too judgmental is not what I see as bad for people to carefully review the situation without taking sides and see another good possibility for the industry with what he (CZ) is doing. He might be wrong somewhere but not entirely wrong, and what he is doing might instil fear in other exchanges for them to do what is right.

2. Contrarily, he was aware of the bad situation of the company which made him want to sell all his shares there, but did not know it was that bad.

3. And as for Coinbase and others, they can fire back at him and his company, I don't care, I don't entirely support him but some of his actions. What I want is for them to force regulation among themselves by revealing what they are doing wrong. Binance is not left out of this, let others attack it too and let people know what is going on in there in the bid to better protect people's money.

I believe you are not getting the gist of my post and perhaps mean towards CZ, it's obvious, yet I will remain neutral here. Not being too judgemental as per my title means we should be even with our conclusions and weigh the bad and good sides of what he is doing. Others (exchanges) could attack him for all I care, all I want is a healthy rivalry amongst exchanges and people to stop thinking CZ is entirely evil. The attack he has started is good for the industry as far as I'm concerned, others should attack him too and leak expose about him if they could do. With this, more insanity would come to the industry and they would seat rightly instead of playing pranks on people and their money.

Also, stop defending any exchanges or any personality linked to them, you might be surprised by their internal nonsense in which CZ is not excluded. I am not defending him! In other words, I was just saying his actions are good for the underregulated industry where anyone could do as they like. Anyone could start it, CZ starting it as the largest in the industry is not a big deal.

OK, you may be somewhat right on this. I also try to not take sides and from my point of view you seem to be a tad on CZ side. But maybe it's the language barrier and I'm wrong...


You've pretty much expressed the same thing I meant, just with the "contrarily" in front. Maybe I should have been a bit more clear ;)


I also cannot care less for Coinbase, they are overall bad for the ecosystem, still the Americans prefer them. But Binance is not really better, and I cannot support CZ backstabbing, although it can bring good results for the ecosystem. But, let's just think, why didn't CZ do this kind of actions years ago? Instead of calling for transparency, he did odd (at best) actions many times in the "history" and Binance is faking its volumes just as badly as (or maybe even more than) the rest.

I find also funny that the funds he's proposing to aid other companies are all in his shitcoins, not in bitcoin. So, sadly, all his actions are not for the common good, they're cold business calculations.

What you're suggesting is illegal in any normal country on this planet and would mean jail time for the one doing so, this is not a game of starcraft this is playing with people's money!


The only thing this guy is avoiding is playing by the rules, I'm not going to start again with the things he lied about but here is one small list of what he (https://bitcointalk.org/index.php?topic=5421163.msg61306597#msg61306597) lied about his own exchange and this is not even the worse he did.


Then how about you start with revealing stuff about Binance since you like what CZ is doing that much?
First, where is Binance's headquarters and where are their offices?


Biased much?


Because despite the whole decentralization, no key point, no leader narrative most people want a leading figure, they want somebody here to act like the face of the business, somebody to represent their investment, that's why they clap for Saylor or Bukele or CZ, the other reason being that they are heavily invested in some shitcoin or BNB, that they keep their assets or trade on Binance like our dear OP.
Most can't accept being alone, they can't accept the environment to be made just of them, they have to find a platform, a wallet, something that will act like their bank to ease the burden, to give them confidence that someone more qualified is taking care of their assets. And a lot fall for all this #SAFU nonsense, all their lies, all the hype.
Not too judgemental about CZ? F### him!
Everyone should be allowed to be as judgemental as it wants, especially with the events lately.

I would tend to disagree that CZ/binance caused FTX to collapse.

Based on the information I have read that I believe to be reliable, FTX loaned money to an affiliate for the purpose of speculative trading. The money lent was customer deposits that I understand were not interest-bearing, and reasonably should have been kept segregated (at a minimum from an accounting perspective) from other assets at FTX. The sale of FTT by CZ/binance was preceded by the run on the bank of FTX, but FTX would have been able to honor all customer withdrawals if non-interest-bearing customer funds were segregated.

Even if one were to argue that it is permissible to lend out customer deposits that are not interest-bearing (which is an argument I disagree with), there was too much exposure to FTT, which is an affiliated altcoin. This argument requires looking at FTX like a bank (that loans out customer deposits), and having that level of exposure to a single asset is just reckless.

In sum, it was SBF that ultimately caused the collapse of FTX, IMO.

I beg to disagree, why is CZ not rotting in jail now or charged for any wrongdoing? I believe you don't understand the style of attack I was referring to.

Don't get it twisted, I'm not an advocate of CZ, and neither am I a fan. I only like what he is doing for the industry. Revealing more secrets is key to sanitising the much-underregulated exchange industry.

Goodness! You still went in search of what I wrote about two months ago? Well, you should not just take that out of context, I wrote the topic in search of a better exchange that offers Options trading better than Binance, so you have no valid point here. It was even negative to Binance because their Options trading was not fair to me, therefore you extracted from what is actually against Binance to prove my neutrality.

Your explanation is good and your found facts are true as well, but you are looking at it in the direction of BSF's mismanagement of FTX. What he did is truly wrong, but have you ever thought that FTX would still be operational if CZ did not announce his withdrawal of the $2.1B? Indeed, it was that announcement that caused the panic withdrawal that eventually caused the collapse of the company.

This is likened to a tree that is about to fall but was supported by another tree or a solid plank. It would surely easily fall if the support is removed. That was what happened. Though CZ is not part of the mismanagement, his action was powerful to an already stressed company.

And why are you so sure it won't happen?
Is SBF rotting in jail right now or am I missing something?


You're not an advocate but you're opening a topic on how grateful we should be to CZ for all the glorious work he has put into crypto and that we should not dare to doubt to attack him and tolerate all his dick moves and all the bullshit the claims on Twitter because we're too stupid to understand his greatness. F*** CZ! And a big FY to all his cohort of asslickers too!


That's why I asked you, since you like regulation and open data so much, again, where are Binance headquarters and office?
Is Binance licensed and regulated in your country? Oh, wait, no it's not!


Building a monopoly, attacking others, attacking bitcoin, fleeing from the law? This is, good for the industry?


It doesn't matter, Binance is the only exchange you trade on and you're here praising Binance, that is called bias and that's how it is.

I agree with your thoughts, to me, FTX died because of themselves and not because of CZ or coindesk. If they do business honestly, without lying, no matter how big FUDS is, they will always stand firm and not collapse so quickly. CZ as a billion USD investor in FTX he has the right to doubt and need clarification to avoid affecting his interests. If we were in his position, we would do the same because no one can be silent once money is involved.

I believe that the Lunac and FTX incidents didn't just happen, there is some kinds of conspiracy involved. Although business do fail if mismanaged. But in the alleged conspiracy I have always imagined CZ in the picture as the big fish and chief strategist.
I consider him so in general terms, but in personal terms I consider him a smart guy who is always ahead of thr happenings in the crypto world. His empire is too large and he cannot be easily taken down. What makes him bleed will largely affect the whole crypto industry.

Its easier to think (especially if you lost money in Luna/FTX) that there is some conspiracy involved rather than that it was just because of stupidity and greed of people in charge. And the more info comes out about the ways FTX operated, its more obvious that it was more their megalomania than anything else. CZ tweet and Coindesk article probably just speed things up but if they did a legit business and didn't mismanaged users fund, no FUD could touch them.


Problem is that even smart people (and its safe assume that CZ is a smart and capable guy) do stupid things that bring their companies down, not just in crypto but in general so no matter how big Binance is (and I often hear people saying for them that they are "too big to fail") they could still fail.

It is possible for anything to happen, even bitcoin is not 100% guaranteed not to fail in the future. Binance could still collapse like other companies, but it is highly unlikely that it will die now or in the near future. All are centralized exchanges, dead FTX or dead Lunc doesn't mean binance will die or ETH will die like Lunc, they are still completely independent entities from each other. Similar in the past, Mt.gox died but looking at the coinbase it still stands to this day.

There was a coindesk article that likely sparked concerns about the solvency and liquidity of FTX. Much of FTX's assets consisted of loans made to Almedia(sp) research, and much of the assets held by Almedia were illiquid. If the coindesk article (or some other event) caused FTX customers to withdraw their coin in too large of numbers, FTX would not have the coin available to honor those withdrawal requests and a large margin call to Almedia would be unable to be met.

It was no more news then that FTX was facing liquidity issues, only that people did not pay more attention to it as the company tries to prove strong and defended itself verbally. This happened until CZ who sees better than mere people because he's in the system, and perhaps had spies there announce the withdrawal of $2.1B. This was what actually triggered the panic withdrawal that eventually called for FTX to go insolvent.

When a company or an asset is stressed and news and surrounding events are adding to it, then there would be an imminent collapse. That's what I would say, and note that the circumstances behind the collapse of FTX and LUNA are not the same. For LUNA, there have been shady deals from the beginning, the intention was not clear, and not completely good, so the foundation was bad. The UST (Terra) used was another issue, while the arrest of Do Kwon triggered the domino effect.

I'm not too judgemental about him

I'm just sure that when inevitably the pressure from chinese goverment on him becomes too high he will do some shit like nuking the price to pre 2017 levels, trying to force a 'reorg' like the one he proposed in the past or seize the coins and announce that the users now have tokens in bnb instead of the  deal and crypto (except bnb) has become 'obsolete'

I'm also sure that he will become the champion of censorship friendly blockchain tech

This is totally out of context with this topic as anyone could have wider issues against CZ, that's not the main thing and am not concerned about that. My plight was how people were attacking him and binance when the FTX issue was at its peak, nothing extra is to be entertained here. I have also explained myself very well in all my posts in the thread, you might want to read them to adjust your reply.

None of those he proposed seem to have been forcibly done. He published it so there will be a consensus. I would also suspect that the Chinese government would pressure him even when he is a Canadian and has lived in Canada which is more authoritarian than China these days. I think its the Canadian government that he should be wary of.

It is sad to see the news about CZ Binance in the media because I love him so much. Several rumors are circulating about CZ Binance involvement in the USDC fiasco to promote B USD. Part of it is that Binance CEO, CZ, has used social media in the past to attack competitors, so it is likely that he was involved. There is still no evidence that support it

Lol. In what way he improved or affected your life that you had such a strong feelings for him? If he was such a good guy he would do so many things different way, including his highly centralized and manipulated BSC. I mean, that guy even wanted to reverse bitcoin transactions after they got hacked/


I haven't heard those rumors, but I honestly doubt that CZ has such influence that he can ruin one of the bigger banks in the United States. On top if, I don't think it would even beneficial for him to see USDC fail.

It is right that people can love people naturally even when they do bad. That is the pure definition of love. I don't mean that CZ is bad but I have seen some clear attempts by him to monopolise the cryptocurrency market, which indeed will not be good for everyone of us.
Well, I don't know the story behind CZ attempt to reverse hacked btc. We believe btc transactions are irreversible hence included in the block. Then if CZ can reverse it when it was confirmed that it was stollen through an unethical hack. I do not see a big problems in that.


The more credit of Luna collapse, FTX bankruptcy etc is given to CZ, the more powerful he becomes to even ruin the biggest bank in US.

He didn't attempt it, he suggested it back in 2019 after Binance got hacked and 7000 BTC stolen.


So you don't see anything bad with one of the most powerful people in crypto wanting to reverse bitcoin transactions just because his exchange got hacked? So instead increasing security of his exchange and telling people not to use Binance to store their crypto, he suggested something that would negatively affect Bitcoin. Luckily, Bitcoin is not like his highly centralized BSC shitchain.


I don't think that CZ/Binance caused either of those first two things, and he certainly has no strength to go after banks in US. In the end, what's currently happening doesn't benefit him at all.

In the space, rumour can be used as FUD, so recipients may never discover the truth. CZ binance was widely criticized after the FTX dump and for how he protected BUSD via social media. The fact that USDC was removed from the exchange, as well as Coinbase and other US cryptocurrency firms not hiding their hate, particularly those affliated with Bankman, is disappointing and fierce. Contrary to the rumour, USDC reserves have increased, while the BUSD balance has remained almost constant.

There is a breaking story about Binance and its founder CZ being sued by the CFTC for regulatory violations. The incensant pursuit of cryptocurrency personal is disturbing, and it is unclear what the USA's plans are for the market.

Yep, this news is circulating everywhere on telegram right now. Im getting spammed. Well, I dont clearly get the meaning of "sued" here. Does this mean cz going to jail or something ? I hope not.

---

Cz just tweeted "4" 15mins ago. Another mystery. My heads gonna burst lol.
Edit:
Well 4 means this I guess
https://i.imgur.com/mtEi3fS.jpg

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices.  So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

In this case, It’s not FUD but rather an attack to Binance credibility for a potential bringing down this crypto exchange behemoth.  Actually I don’t like this “4” strategy of CZ because it encouraged all crypto traders to become a blind believer and remove the curiosity to seek the truth behind the current situation.

The best example here is when the CFTC case has basis and can give a huge implication on Binance operation. Since blind folllower is just using this strategy to fully trust CZ, There’s a chance that their funds will be trap on exchange when shit happened. I never trust anyone in crypto space because we are all here with self interest.

Our current trading environment is similar to 2019. While the news and target may not be the same, they have a similar impact on the market, which I believe is the goal 
2019: - Cut rates three times by October - Started expanding the balance sheet in September. As a result of the 83% decline from the ATH and 500 days before the half-doubling in 2020, the price bottoms out

There is no doubt that Binance provides great services as well as reliability. But this does not mean that she is completely honest and that she is above suspicion. What is happening now cannot be considered an attack on the platform's credibility, since it was issued by an official body and not just press investigations.
CZ succeeded in monopolizing trading services without being monitored or followed. This may be the biggest problem he faces, but I think he will be able to overcome it.

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

I reckon everyone should begin to recognize that the coordinated attacks on Binance, Coinbase, Chipmixer, Tornado Cash and other services is really an attack on the whole cryptospace. This is not only about Binance or Chipmixer anymore.

You never learn, don't you?
Rember the FTX will be number 1 and invest in FTT stuff?
Or this one?


Stop making idols of these guys, stop seeing them as gods or whatever, they are just some wanna-be Madoffs, but none of them (hopefully) will be able to deceive people as long as that piece of garbage did.

They are not fighting against the government for our sake, they are doing so for their pockets, once it's more profitable to bow down to the authorities they will dump us in a second or throw us at the first that asks for our data and funds like in a pretzel sale. CZ is the guy that wanted to reorganize the blockchain for god's sake, he never gave a second thought, he never cared what others might suffer from it, it was all about his money.

Besides, the whole thing is even funnier, you choose to side with him against the government regulations when in his defense he brags about how many users he has blocked, how many KYC he has refused, how many transactions he has frozen, and how much money he has seized when ask by regulators? Common bruh!

In the crypto space we arn't encouraged to trust anyone. Those who are at odds are fighting for their own interests, rarely based on the truth. In this business space, anyone can hide the facts as much as possible and derail it. They would only start feuding when it was no longer mutually beneficial.

But I agree that "don't be too judgmental on either side". If you aren't involved, just comment as needed as if you were watching a show. 8)

People who would be mostly worried and forced to pick a side between either of them are those who trade, buy and use shitcoins. If you use only BTC, and do not speculate on shitcoins in Binance platform, you would not have to choose a side. BTC does not lose whatever happens, if the regulators force Binance out of business, people can still buy and sell BTC and learn to hold it in self custody wallets. If Binance manages to bribe their way out of it and continue their operation smoothly, deceiving people they care about BTC, their monopoly would continue, and many people would be deceived, which even looks like the worse of the two option, but nevertheless, BTC would still function as normal.
These are centralized exchanges, mixers or tumblers, the government can regulate centralized exchanges, and they can go after mixers and tumblers, even if they operate anonymously, the government can go after those who run the mixer if there is sufficient proof that a lot of illegal money is being mixed there. But how do the government come after BTC, there is no website to seize, neither can they target every miner or user worldwide, they can only regulate those who keep their BTC in a centralized exchange, intead of in their self custody wallet.

It also doesn't mean that the story is real, I mean we can clearly see that there are a lot of FUDs and attacks happening on Binance lately, and there's no surprise after the crash of FTX, Binance was probably the next target, now we can't really be sure if who is the one targeting it, whether it's FTX behind the scenes, the large authorities or someone unknown.

We can't really be sure if all these stories are true and aren't simply a part of a master plan to take Binance down. I don't think that it can be a coincidence that every couple of days, new bad news comes out about Binance.

In this thread, I am not talking about idols or the characters behind the cryptospace. That is a discussion for another day. What I am talking about is there is something happening and it might not be a Binance matter or a Coinbase matter anymore. We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

But the reality is that this isn't just between the government regulators and Binance. We shouldn't be reducing it between the two as if there isn't another option lying around. You are not actually limited to these two players only.

I know you're posing a hypothetical scenario, but the reality is different. Why shouldn't we stick to what's real? Why should we be choosing Binance when the options on the ground isn't just between government and a centralized company?


This may be true, and I kind of understand your point, but I'm afraid this is the same sentiment that will make rise to the very system Bitcoin is designed to oppose for as long as it is carrying the Bitcoin flag.

It seems like you're saying that the enemy of your enemy is your friend. But centralization is never a friend of Bitcoin. To a significant extent, we can say that Binance is not a friend even if the government is its enemy.

@Darker45. I cannot argue against you, however, I am only telling everyone that the cryptospace as an industry is being threatened. The government with their different agencies will not stop until it is gone or under their control. Mainstream adoption, ETFs and our other wishes for bitcoin will be shattered in front of everyone.

We might be making a mistake with this attitude of wishing that CZ and Binance should be seized by the government. Whatever the American government accuses what illegal things Binance is doing, they are also being done by banks.



CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

The federal government’s recent actions against crypto are – rightly or wrongly – widely perceived as a coordinated attempt to maim digital assets.

Source https://www.coindesk.com/consensus-magazine/2023/03/30/coindesk-editorial-it-sure-looks-like-the-us-is-trying-to-kill-crypto/

These attacks aren't new as they aren't shocking. As far as the attacks on the larger crypto space is concerned, they may achieve a limited success. They may win their lawsuit against the likes of Kraken and Binance. As a result, they may effectively shut them down just like what they did to Beaxy just yesterday or they may cripple them and earn from the fines. But what have they accomplished really? Nothing.

The attack on the larger crypto space isn't necessarily an attack on Bitcoin itself, upon which the entire crypto space is supposed to be founded. Try as they may in bringing Bitcoin down in all these efforts, what they will achieve is nothing. They will only bring down centralized crypto entities which aren't really representative of what Bitcoin is trying to achieve.

Also, as far as I notice, these efforts are not even bearing fruits as far as development in the space is concerned. When they shut down Chipmixer, how many new mixers came out? If they will be successful in bringing down Binance, how many centralized exchanges will be coming out competing for what Binance has left?

Concerned, and exactly now?
Why would they be concerned when for years I've only heard how the government is fighting crypto is sabotaging it and here we are, with BTC still standing and nothing really harmful happening to it?
Might be that CEX =/= crypto =/= BTC or that just all that drama was as fake as this one?

SEC taking down piece of garbage that has done a lot of harm to BTC, that has brainwashed thousands, that has taken a piss on the whole, not your keys not your fund slogan, that is actually laying every damn second can't be seen as a war against crypto but against some as I said it before, pieces of garbage!

When Binance is charging you extra for segwit and has no plans on ever accepting LN just as Coingbase, when they are both CEX which from the start should be avoided, then why should "all" the industry be concerned?



FTX only become a known scam when it crashed down.
Just because Binance is up and running just like FTX last year doesn't mean it has all your funds #SAFU!

I'm with you on this, Binance has created more enemies for itself by the moves it made against FTX and other exchanges. I will not blame anyone working against it under the shadow, and this might not be FTX entirely but might be the rival companies that want the fall of Binance. As much as we must stay neutral in their cold war. Binance itself is not exonerated from many gimmicks and shady dealings. So, I don't trust the company, CZ only understands the business better which keeps it running.

I will always be neutral here, and frankly, CZ has cases to answer too, only that it might not be as grievous and endangering as that of SBF. A lot is going on with Binance, especially the global branch which is as good as underregulated. The US's CFTC dealing with the Binance (US) is an example of it. If they could do what they are alleged under the jurisdiction of the world's most powerful regulator, how much more they will be doing under the underregulated global branch?