About the wash trading accusation, I would not touch that, it's hard to give an opinion when it comes to things about violation of law.
Let the regulators punish them if they've done a violation.
Did I say this was my opinion? No. The fact is that they've been proven to be wash trading. Check out BTI.
Better not trust only one site, diversify your funds and let's support other exchange to grow so we will not all be in Binance only.
Wrong again. It's better to never trust anyone with your borderless
trustless (key word) currency
Just wondering on whats SAFU and as i able to search its the acronym meaning of
Secure Asset Fund for Users (SAFU).
Each exchange should have this kind of reserve.
Saying you have a reserve is all fun and games until the totally existing fund doesn't cover everything. How do they prove they're keeping 10% of their fees in a SAFU fund? Is it bitcoins or shitcoins? Was it tether? Did they have to market buy $40M of bitcoins to cover their losses? They're great at hype. They're great at pretending they're being completely transparent but honestly if they're holding their own insurance fund and it's not transparent it's just a marketing ploy.
What needs to be answered is, how much is left in the SAFU fund? Can they prove they're somehow segregated from other funds? If not they could just as easily be hacked. What currency are SAFU funds in? Lots of people use their BNB ponzi coin to save on fees. If it was in BNB that's ultra crappy because of course your shittoken will drop like a rock when you either market sell $40M worth. The other option there would be that they don't sell and it still drops like a rock because who the hell wants to trade at an exchange that can't keep hackers out?
SAFU simply translates to "I can't spell worth shit and didn't even bother to double check my tweet. The "u" and the "e" are clearly so close on the keyboard and I made a booboo". Then it became a meme. Then he decided to use it to his favour because he wanted to ruin it by embracing it. the whole situation is a giant cringe from me, but it's to be expected from a 17er.
The wash trading does not appear to be initiated by Binance and the report said that it was low in comparison to other exchanges.
Wash trading is often done by coin devs and coin communities to make their coin appear to have more trading volume. Some exchanges even encourage it by giving certain users access to extra low fee or even fee free trading.
You forgot your source on your
opinion there.
Binance is still one of the greatest crypto exchange ever
I have never understood the reverence binance attracted and still don't. And the guy in charge tweeting about researching doing a reorg of the bitcoin Blockchain to claw back his poxy money is a glaring demonstration of his lack of understanding and egomania.
It astounds me that anyone who's spent more than five minutes reading about BTC believes it's a viable idea. If you weren't sceptical about them before you should be now.
https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hackThe rollback approach is clearly not something that should be pursued, and apparently even CZ has agreed that after consulting a bunch of people.
Why did the CEO of a multi-billion dollar crypto exchange not understand that a 51% attack against the first and biggest cryptocurrency is a bad idea? The guy is a complete and total moron who's just therefore show. He doesn't have a clue what the hell he's doing, which is why it doesn't surprise me that the team behind him also can't secure the funds held on the exchange.
