Why the hate on binance exchange

[speedforce]

I dont know but since its biggest exchange and know people position most (short and long position), many people believe Binance have a strong position to make some manipulation on the market and liquidated many peoples.

[1714602682]

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[devil2man]

in fact it seems that many countries are envious of the success of binance and since they cannot earn enough (taxation? royalities?) they try to put a spoke in the wheel and prevent it from completing its activities on their territories but binance can adapt and modify it too to these new absurd regulations, binance is my favorite exchange

[no-ice-please]

everyone knows binance is a new force in the crypto market, and they love it. no one hates CZ or binance. everyone respects him, he is a smart and experienced person. binance was able to get big and thrive thanks to him. This centralized exchange is the best and always creates innovative breakthroughs. just look at their Dapps platform, BSC can compete with ethereum. this is a great achievement.

if because of all that binance to be hated, then those who hate only people jealous of its success.

But isn't it as with any other market that once a new force appears there will also be enemies fearing to lose their place in the industry? I said that before here, not everyone is happy if a business like Binance pops up and conquers the market. Other exchanges might try to harm Binance and I believe that could be a very plausible scenario. That happens in all kinds of industries, take Apple vs. Samsung. Since Binance is a relatively loosely regulated exchange with often times not even a KYC procedure, I believe those exchanges who are subject to KYC would like to see Binance have some trouble.

[CaVO32]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

Those hates will not prevail, Binance is doing great and helping the community and new investors to invest in Cryptocurrency, they have an academy on how newcomers can enter Cryptocurrency in the right way, and you can easily trade on Binance and all the coins listed are profitable they are the leaders in the exchange industry and competitors are trying to bring them down, but they are not going to suceed. 

They are at the top so usually people tend to find loopholes on how to bring down who is at the pedestal. Also, they are hot in the eyes of the regulators. If binance is complying all the laws and protocol to where they are operating, there's nothing to worry about. A lot of us here are using binance and for me, I'm pretty satisfied with their services.

[no-ice-please]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

Those hates will not prevail, Binance is doing great and helping the community and new investors to invest in Cryptocurrency, they have an academy on how newcomers can enter Cryptocurrency in the right way, and you can easily trade on Binance and all the coins listed are profitable they are the leaders in the exchange industry and competitors are trying to bring them down, but they are not going to suceed. 

That hate is probably going to prevail I believe. As I said before as long as they have such a large market share they will also have a lot of enemies. The edge they have over others is insane. I wonder how much CZ is making on a single day. That's where the jealousy kicks in probably.

[TheGreatPython]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

If by hunting you mean governments cracking them down then the reason is quite obvious. They don't want people going for full shadow banking and hiding their taxable money. And binance operating from some undisclosed location doesn't really help their reputation in the eyes of regulator.

Why though? Why are they cracking down on the shadow banking and people who have crypto avoiding taxes? I may understand the logic if it was like that everywhere, after all we are talking about people avoiding taxes and yeah we should be cracking down on that, but that "should" is the key word for that.

They are not doing that for everyone they should, they are literally letting wealthy people avoid taxes as much as possible, look at Amazon, they literally paid zero federal taxes, then Jeff got 10 billion dollars GIFTED by government for space work, and then bought James bond series for 10 billion dollars the very next day, so he did have the money for it but it was still tax payers money going into his pocket for free why not do it? Long story short there is a good amount of hatred towards them all founded on good reasons and for some reason we are hunted like witches while they are let go.

[thesosorr]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

The Binance Exchange being chased is a living proof that the Binance Exchange is the best. Other than that, I don't have any other reason why they are being hunted.
Almost everyone gets satisfaction when transacting there, including me. It's the level of security and clarity of the Binance Exchange that amazes me.

[shinratensei_]

I don't think that's why everyone is interested in the Binance exchange, but because of the many great features and projects that are out there that can help a lot in terms of profit for those who are actively using it.

It's not about features or anything that you have called it but did you read the latest news? Even FTX was buying the shares that were owned by binance. Binance exchange site was always trying to avoid the regulation. that was also giving so many uncertainties to the its users and even alameda and FTX were deciding to buy back binance shares on FTX.
This could be an evidence if there was a serious problem

[btc-facebook]

No one knows for sure what caused it, I personally also don't see any serious problems with binance, but my guess is it's about security and regulation, like China is ban bitcoin, then indirectly exchanges like Binance will also receive the impact, this is only just one example, there are many examples that cause it. If your country doesn't ban binance, I don't think this is an important issue.

[DarkDays]

The only way Binance will be taken down if they lose in a legal battle due to a serious offence against the law. They are one of the biggest exchange now if you still believe they are not the biggest, so it's normal to have a lot of haters most particularly coming from the competitors, they make millions of dollars on a daily basis, everyone would like to be in that position and it will not happen as long as Binance keeps dominating the trading volume.

Well, with Binance making millions in a day and governments not getting a slice of that pie, of course, they will look at how they can impose by means of regulatory controls.

Many countries have started taking that approach and while it may seem to work, in the end I see a tendency for a middle ground between Binance and governments because people will not stop using the exchange overnight, and no party will want to lose on a opportunity of making large bucks.

[aditasetia123]

No one knows for sure what caused it, I personally also don't see any serious problems with binance, but my guess is it's about security and regulation, like China is ban bitcoin, then indirectly exchanges like Binance will also receive the impact, this is only just one example, there are many examples that cause it. If your country doesn't ban binance, I don't think this is an important issue.

Mostly for regulation , local government want take taxes from binance operation. They consider binance get profits from their citizen that be customer in this exchanges. With huge daily trading volume , binance able generate billions income from it. If they could take some ,maybe will be usefull for income sources.

[Teraboy]

No one knows for sure what caused it, I personally also don't see any serious problems with binance, but my guess is it's about security and regulation, like China is ban bitcoin, then indirectly exchanges like Binance will also receive the impact, this is only just one example, there are many examples that cause it. If your country doesn't ban binance, I don't think this is an important issue.

Mostly for regulation , local government want take taxes from binance operation. They consider binance get profits from their citizen that be customer in this exchanges.

The action already taken by FTX already gave clue about what happened with binance. We know that binance was also having so many profit from its operation. Im not even seeing binance was also dealing with the tax especially on its users. it's quite different with another exchange site like coinbase which was always reporting the data to the IRS for the taxation purpose.
that's why some countries were calling binance as illegal.

[XavierLaurent]

I've heard some complaints regarding it being too complicated or concerns regarding ties with China. Binance also lists a lot of tokens, some of which gain and lose their liquidity rapidly (Shiba and others) causing people to lose their money.

[sana54210]

Those hates will not prevail, Binance is doing great and helping the community and new investors to invest in Cryptocurrency, they have an academy on how newcomers can enter Cryptocurrency in the right way, and you can easily trade on Binance and all the coins listed are profitable they are the leaders in the exchange industry and competitors are trying to bring them down, but they are not going to suceed. 

That hate is probably going to prevail I believe. As I said before as long as they have such a large market share they will also have a lot of enemies. The edge they have over others is insane. I wonder how much CZ is making on a single day. That's where the jealousy kicks in probably.

I doubt that it is "only" about the amount of money they are making, it is also about the power they have. Sure the power they have turns into money when they use it, but also they are such a big place that whenever they list a coin that coin goes up so much and whenever they delist a coin that coin gets low so much, and that is just listing/delisting power they have, this is minor compared to all the power they have over all the other exchanges not making any money as well, they can decide to ruin a whole nations crypto exchange world, like they started working with my nation and all other places nearly went bankrupt as well, that is related to money but it is also power of binance as well.

Branding could always be awesome, that is why there are people who hate apple as well, apple is just making phones and computers, why would anyone "hate" something like that? I mean you may not own one, not prefer one, but "hate"? Really? Same logic here as well.

[Dr.Osh]

In this business world, not everyone will like what you like, or what is currently developing. on the one hand, there are so many people who support binance, even now new projects are developing their projects using BSC. however, even if it's like that, there will definitely be people who don't like it, and that's a natural thing. well, personally, I like binance, and all its developments.

[Niobeh]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

I don't see any reason Binance will be persecuted soon. Being one of the largest trading platforms at this time, it will be risky on their part if they cross the line which they didn't. They have identity verifications that are strong plus they are recognized by the various governments as long as they follow regulations. I'm sure many government agencies are monitoring their activities because they involved large quantities of financial assets. As long as they will maintain their trust, Binance will remain strong in the passing years.

[sana54210]

I don't see any reason Binance will be persecuted soon. Being one of the largest trading platforms at this time, it will be risky on their part if they cross the line which they didn't. They have identity verifications that are strong plus they are recognized by the various governments as long as they follow regulations. I'm sure many government agencies are monitoring their activities because they involved large quantities of financial assets. As long as they will maintain their trust, Binance will remain strong in the passing years.

That is the thing people do not realize, we are talking about 100+ billion dollars total deposited there probably, I do not have the exact number but I am pretty sure it's close there or above and that means there are soooooooo many people and amount of money in there which makes governments worried, not like there is a binance building that governments can go to and charge them with anything neither, Binance while being super huge, deals with so many secretive moves as well, like CZ and many main staff not being in the headquarters they listed just to show an address, those are hugely risky things.

However I also do understand it from Binance side as well because if they were like in a building at New York, they would have been found guilty of something, anything really just to get them because governments hate others that have power and not bribe the politicians at all, binance will be left alone only after they start to bribe those people.

[Fivestar4everMVP]

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

With the major breakout in crypto currencies and binance being the world largest crypto currency exchange, it's normal that all eyes will be on it and some institutions or government will hate it for the kind of success it's achieved in just a short period of time, which also to me means hating binance for nothing.
Governments and countries that are not so crypto friendly will like hate binance for no reason, but this should not deter those who are committed to crypto currencies even if you are from one of this counties, stay focused for crypto is here to stay and no man or government can stop it.

[rozak]

No one knows for sure what caused it, I personally also don't see any serious problems with binance, but my guess is it's about security and regulation, like China is ban bitcoin, then indirectly exchanges like Binance will also receive the impact, this is only just one example, there are many examples that cause it. If your country doesn't ban binance, I don't think this is an important issue.

Mostly for regulation , local government want take taxes from binance operation. They consider binance get profits from their citizen that be customer in this exchanges. With huge daily trading volume , binance able generate billions income from it. If they could take some ,maybe will be usefull for income sources.

Could be one of the reasons for this, this makes many countries may suffer losses from the absence of tax fees received by each country. But let's see the latest news that really happened later. All will know.

The explanation hasn't been released yet. but what you mean makes a lot of sense.
there is a possibility because of the current binance platform which is very popular and almost dominates the crypto market. there is a tendency to regulate binance in some countries or even all of them.
We don't want the biggest stock exchange to crash with issues built up by a few people. we've seen how some of the major exchanges in the past had to bitterly fight bad news. the crypto market is very cruel.

[Tigerheart3026]

i still rely a lot on binance exchange because there is no risk to trade,hold because they are giving maximum security to the customer's money where no other exchange can.
it's biggest crypto exchange in the world, so any one can feel jealous who's can not take anyone success. the only thing bothering, it is very difficult to complete kyc.