Bitcoin Forum

Binance Fud is not taking much time to go onto another one.. Can you give a clean chit to Binance ...

Now its time to take a breadth, and think wisely on how people are reacting in this tweet

https://live.staticflickr.com/65535/52610826753_41866cc2c3_c.jpg

Ina tweet https://twitter.com/coryklippsten/status/1611119411548819457  (https://twitter.com/coryklippsten/status/1611119411548819457) points out an article

source - https://medium.datadriveninvestor.com/binance-built-a-blockchain-except-it-didnt-5759224ba7aa

What would be the fate of crypto investors if binance is found to be allegedly involved in some kind of Fraud/Scam/Mismanagement/Money Laundering.. Is 2023 will be a year of cleanliness of Exchanges..

What do you think about this article, does it have some base to it .. or its just another gimmick to create a panic among the users..

Do you think there is Heat without Fire..

https://pbs.twimg.com/media/FlxXQDVaAAIYH7d?format=jpg&name=900x900

Main focus has shifted to Binance since FTX bankruptcy sega began, we already know how risky it is to operate on a centralized chain such as the Binance chain since there high likelihood there will be manipulation and alteration of the process, let's see what becomes of the whole investigation process but for now, we all should avoid centralized platform use them only if there is a need aside from that, have your investments in bitcoin and in you person wallets to avoid stories that touch when the eventuality happens.

Big fish will always be a target now because of what happened to FTX and since Binance is unofficially the number one exchange they will cast doubts on its leader and target its reputation and look for any flaws in their operation, we have had enough of big issues in the industry that will likely affect the market, this one is also serious.
CZ knows that all eyes are always on his personality and his platform so he should make sure that he is transparent and be a gold standard in the exchange industry. 

The Cryptocurrency industry considered Binance an innovator and its leader charismatic and he can easily sway the community, but these are serious allegations of manipulation and this is not good not only for Binance but for the whole industry, it's hard to have a leading brand in a blockchain ecosystem which uses manipulation and acted like a bank that is full of flaws.
This seems to be a hanging sword of Damocles for Binance, it's going to be a very hard year for Binance if authorities push through with a further investigation.

I keep saying this. I am a trader and one day people will know how heavily manipulated BNB is and all the pointless copycat chains. There's nothing totally original or innovative about Binance smart chain. It's just another centralized and highly manipulated project CZ and Binance thought they could create so that they sway people from using Bitcoin and other truly decentralized networks and enable them to monopolize the whole crypto industry in the name of "cheap fees" and "faster transactions"

The same applies to BUSD. The time will come when everything comes to light.

I never felt comfortable with binance. They send me mails each week to verify my identity to get some bonus, bsc chain is full of scams/rug pulls,  their idos - binance must have printed millions in those projects.

I would even consider cz to be reason of ftx's fall (just to avoid misunderstanding, I ain't supporting ftx at all), ftx was competition to binance hence cz did what he did.

I can't say anything else that would make more sense than what you wrote, because such things have already been proven in the last ten years, but there are millions of naive people to whom you can sell anything, as long as it is nicely packaged. The recent statements made by CZ regarding how CEX are safer than non-custodial wallets in the sense that most will lose their coins if they keep them themselves is just a confirmation of the direction their game is going.

I have never invested in a stable coin or token in my life because I consider it completely wrong and risky, and in just a few months Kwon+Bankman cost their clients over $100 billion, almost 1/3 of all mined BTC if we were to take into account the market cap. It is stupid to even ask the question of whether the lesson has been learned, because we know the answer to that question...

If they succeeded in bringing ftx down so they really think they could do that to other CEX? Binance has stand the test of time and to let you know, you can not just shake them much as they have a strong base in which they rely on. Binance has built a niche for itself and so therefore has always  been a threat to others. At all cost, they are fighting to see binance go down. I am not a fan of centralised exchanges but to be frank, CEX has really played a good role in Crypto accessibility in the world and binance which happens to be the biggest CEX has played a major role too.

Contrary to popular (ignorant) belief, Binance has been around for only 5 years (for some reason people think that they have been around much longer) so its way too early to say that they stand the test of time. If they are still around in 10 years without major hacks/problems then we can talk about it.


And what is that niche, because Binance meddles in almost everything crypto related.


CEX definitely played their tole in making crypto more popular, but we also shouldn't close our eyes before obvious problems and Dangers of Binance monopoly.