After Sushi Dump CZ reply with Highly risk especially on Defi project ?? Agree ?

[AmoreJaz]

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

That's what FOMO DeFi looks like today. No more people think of losses when investing, always think of short profits. even though the risk of loss is much greater. And this doesn't just happen to Sushi. but there are still a lot of scam DeFi projects. One of them is Tweebaa (TWEE) whose chart is very unnatural, after reaching $80 immediately dumped up to $1.

expect more of these DeFi scams on the way. if people will not be careful and just invest on a defi project which they think will give them huge profits, they will be screwed big time!
 this early, we are already seeing crap defi projects. several accusations of plagiarism, using fake profiles, imitating original defi projects and so on...
so even without CZ's warning, people should be vigilant with these DeFis. only few of them are real.

[jerrygarkia]

This is the wild wild west of crypto. There will be scams, but there will be many useful experiments too, DeFi applications are like a testnet to real world finance and the possibilities.

[FaucetKING]

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't  Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project  ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Before a couple of moments, i've been browsing Twitter and i've seen him retweeting a post about DeFI saying that "China" will come  or something like this. I don't know what he is trying to do but the thing that i'm sure of is that listing coins/tokens in Binance is one of the hardest things ever to do in this crypto field.
I smell that there's something strange and i'm almost sure that Binance's CEO got some coins in his hands in favour of the listing. I've never seen anything like this huge dump happen in that exchange before but these peoples love Ca$h, they do cringe things to grab money.

[JeffBrad12]

As far as i know if that tweet has already erased by CZ and it looks like he didn't wanna take his responsibility to the traders and investors to did an audit before try to list a new coin especially sushi swap. if he was saying like that and how is it possible for him to listing sushi on his exchange site while we know that it has been running by an anonymous person.

I smell something BS from what has already said by CZ.

This is the wild wild west of crypto. There will be scams, but there will be many useful experiments too, DeFi applications are like a testnet to real world finance and the possibilities.

Experiment for what? all of those defi are only repetitive platforms (forked) from the real one that called YFI. If you know the real story behind it and you will have different opinions about that too.

[pilosopotasyo]

I haven’t seen the twitter post which is mentioned by the Thread starter. But regardless of this, CZ shows a double standard. Just look at this post on twitter. On the one hand he warns about it and on the other hand it is one of the first to list the tokens at his CEX.


Source: https://twitter.com/cz_binance/status/1300795684145127424

It was posted that CZ has deleted his tweet because obviously it will be harming the reputation of his company, so he comes out one that looks harmless and acceptable to the community, in the tweet deleted it looks like he is washing his hands, people trust his company, what they list, it used to be an accepted fact that when it is listed on Binance it's worth buying, now traders will have to think twice.

[diskodasa]

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

Everyone knows investing in these projects is risky, but surely they will still invest for profit is not to be missed. The trend of investing in DeFi projects is on the rise and if you are an early investor, the chances of success are high.

However, the Sushi project is still traded at Binance until now, and trading volumes are still very high after their development team sold all the coins. I was also very surprised but this is a very good speculation to make a profit since there are no more pennies from the development team that they can sell.

[Fredomago]

   We know DeFi is risky, Vitalik from Ethereum is talking about that for month and more. I don't know why CZ tweets about this,
maybe he feels guilty because he listed some DeFi projects without taking money from them!? He is earning from fees, and
as long as there's some trading he is earning his profit. He doesn't care about the people, all he cares is his business and his
profit! It's CEX, I don't expect anything else from them.

It's highly advised that before investing to anything you have to do your homework. DYOR!

There's no one to be blamed your participation is your own judgement, with how CZ acts he just simply voicing his opinion and he's free doing that. It's all about how investors judges and take the risk, for sure there are still traders who are willing to gamble and continue supporting this project.

[Kunnu]

Now the listing procedure of binance exchange has changed they list projects not based on its quality, their first priority is to make money that's why we can see there are many useless defi coins have been listed on binance it's all clearly indicates that they don't care about their reputation and users.

[TastyChillySauce00]

I mean his statement kinda hold truth, most of people are just jumping into defi projects without even knowing what they are getting into and as a result it's basically the ICO hype back then starting again where people just throwing money to whatever project there is. It creates a bubble and always carry the risk so people need to be wiser when it comes to investing a DeFi project and should be conscious that this investment could either turns out to be the worst or the best because no one really knows what gonna happen.

[giammangiato]

I support all the CZ decision about the DEFI projects, for me they are all scam. We have to evaluate very good before to invest in this new kind of products. I don't want defi project in my personal crypto wallet, the pumps are only manipulations and fomo.

[shoreno]

 wait what ? he remove his post on twitter  ? oh why what happen  . he dont need to do that or maybe he is affected on the recieved comments but still its better than not apologizing at all because he know himself that he also have also done wrong . binance was on top but thier founder still throw a words like this , i didnt expect that because if a company is already on top  they dont usually care about the others  . it wasnt totally his fault but it was also the fault of the investors  . thier job is only to list coins

[grabpopcorn536]

His responses were very irresponsible to the community. List 1 crypto needs the necessary standards, not necessarily because of the amount they are willing to spend to be listed. CZ has had more than one experience in this market for many years and his statement shocked everyone. Some investors have left this exchange. By now I understand why Binance has such a large number of listed cryptocurrencies and the majority of them have low transaction volume.

[plr]

As far as i know if that tweet has already erased by CZ and it looks like he didn't wanna take his responsibility to the traders and investors to did an audit before try to list a new coin especially sushi swap. if he was saying like that and how is it possible for him to listing sushi on his exchange site while we know that it has been running by an anonymous person.

I smell something BS from what has already said by CZ.

Very disappointing he is exposed as someone who don't care if traders will lose, the traders trust theie exchange that they will check who are behind this projects and if their platform is worth listed on their exchangem CZ only cares for money as long as the projects has money to list he will list even if they did not do audit or KYC on who are the people behind these projects.

[bct_ail]

The problem here is not that he deleted a twitter post. The problem is, that CZ said, he comply with the law and his exchange has high standards
He wants to know who is behind a project. He does not want the anonymity of the developers. And here he has  listed a token from anyone who calling him / herself chief Nomi. 

[Bitstar_coin]

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't  Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project  ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

This made me rethink on my criteria on how to look on the project that we are going to support and invest, some people like me made Binance one of their criteria, we all thought if a project gets in Binance then it went through a lot of criteria including Binance listing but now I will take out Binance as one of the criteria, investors should do the same.

except you want to restrict yourself to maybe trading in coinbase since many people hold them in high esteem otherwise there is little you or cz can do to ascertain the authenticity of a project regardless of the period of vetting they have gone through, never easy to tell which will exit scam especially when they appear legit.

[ven7net]

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't  Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project  ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

This story once again shows that the people who are behind such projects pursue only one goal, to make money by using the HYIP themselves. DeFi as a direction has a number of advantages, but scammers do not sleep and are just waiting for such moments in order to make quick and good money. You are right to talk about safety when choosing a project to participate. This is a very important criterion, especially when there is a big hype. History repeats itself, someone earns, and someone loses. All this once again reminds us that any investment always carries risks.

[justdimin]

Defi projects are high risk but not because of the way you think it is. If someone came up and made a very good defi project obviously it doesn't mean it will automatically be risky just because it is risky, it is as risky as any other project, however there is an extra risk on random defi projects because there is a big big huge hype around defi right now and people are trying to say that if you do not be careful there could be some scam defi projects that you might fall victim to.

This is why we have to be  careful about defi projects a lot more these days, not because they are defi but because they could be scam, if you ever find a defi project that is not scam and actually promises something realistic and good, you could still invest into it and make money.

[royalfestus]

CZ binance has the habit of post conflicting tweets to his position for marketing the exchange, I wish he employs a community manager for his twitter handle. Every project with anonymous team should be faced with a lot challenge to raise fund or rather getting exchange listing on centralized exchange. The team member with exit scam had been replaced, although the price has some recovery the effect on the whole market will take few days.

[hakertajniak]

Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

[royalfestus]

Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

You missed the news of the exit scam of around $6m which affected the whole market especially for what the DEFI had brought to the space, through the fund and confidence. You should read more on this, it is not about the price pump, moreover is not the only Defi with such a price growth.