Who will win, FTX or BINANCE?

[serjent05]

CZ sure has an intention of saving FTX but yeah even if CZ doesn't want to spread FUD to the community, The community takes it as a FUD even CZ is just stating the facts and the result of his tweets steered the market. Everyone knows that CZ has a massive holdings and even if CZ sell it bit by bit it will affect the volume of FTT which I guess triggers the FTT holders to sell. FTX is a goner now and It will be put in the history along with LUNA. There's a small chance of FTX being recovered and their customers will surely not use FTX again if ever FTX survive their own catastrophe. 

I do not think that FTX will have a recovery now that they file bankruptcy, they have to stop operation.  This is double hit since users that have fund on FTX can't withdraw and investors who holds FTT will have their holdings possibly reduced to being worthless.  I feel sorry for those investors and users that were caught in the demise of FTX, it is a clear misappropriation of funds and the management should be held accountable for this mess.

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[Silberman]

at the end of the day it's the individuals that got sacrificed for the sake of these big guys like binance in order to make some kind of profits, it's rather doesn't matter whether it's binance that's win, the market is just getting worst the bullish seems even more further to come, I guess the market will need time to make some recovery again then, massive correction after massive correction is really gonna hold the bullrun from happening in this year.

For such whales doing something like this to small investors is as easy as shooting fish in a barrel, and yet the financial devastation that all of those which put their trust in the FTX exchange will have to go through is immense, so we must always remember that regardless of our knowledge and how good we may think we are at the end we are nothing against such large forces, and it is because of this we always need to be very careful as we never know when the next Luna or FTT incident may happen.

[trendcoin]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

We should never trust centralized exchanges. We should always be wary of them, but centralized exchanges are in the middle of our lives and we should not hesitate to take advantage of them.

At this point, Binance is the best among the centralized exchanges and CZ has not lost a single battle... Had CZ faced Gaius Julius Caesar 2,000 years ago, he would have defeated him too. If he comes face to face with aliens one day, he will defeat them too...

I'm exaggerating because I want to be understood. -Franz Kafka

:)

[TelolettOm]

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem. Why should care about who will win? Whoever the winner, they will never care about us who have been suffering so far. What's happening here, why have two big and top exchanges become like this? And now FTX is really becoming an exchange with very low rank in the CMC. I am sure that both exchanges have their positive and negative sides. But, how some parties spread the FUD and make the FUD much biggger untul crashing the market, this si just a bad way and bad thing. 

[MoonOfLife]

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem. Why should care about who will win? Whoever the winner, they will never care about us who have been suffering so far. What's happening here, why have two big and top exchanges become like this? And now FTX is really becoming an exchange with very low rank in the CMC. I am sure that both exchanges have their positive and negative sides. But, how some parties spread the FUD and make the FUD much biggger untul crashing the market, this si just a bad way and bad thing. 

Exactly, the war is not in the favor of the market and all investors like us, it doesn't matter who wins and it shouldn't happen. We have experienced too many losses due to luna crash and now we continue to receive more losses caused by FTX. This will make the market worse and newbies will have a bad view of the market.

[Sayeds56]

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem. Why should care about who will win? Whoever the winner, they will never care about us who have been suffering so far. What's happening here, why have two big and top exchanges become like this? And now FTX is really becoming an exchange with very low rank in the CMC. I am sure that both exchanges have their positive and negative sides. But, how some parties spread the FUD and make the FUD much biggger untul crashing the market, this si just a bad way and bad thing. 

Binance is likely to win this war not only because it is a cash rich company but also, they are smart player in crypto space, launch new products, believe and continue struggling to improve their trading platform and satisfy their customers with prompt support. No matter whoever wins, they should find some way to compensate who suffered huge losses during this fiasco. The crypto community should raise their voice and put pressure on regulators in each country to avoid repetition of such turmoil in future.

[jaberwock]

Binance has been the only survivor during the crashes days ago. There is no doubt that Binance has won. Well, I am not saying this based on theories or statistics but only offer a perspective: CZ, the leader of Binance. I have followed his tweet for a long time and he seems to be a responsible and pragmatic leader. He has been so responsive and down-to-earth to every issue that comes across. He is relentlessly doing his job and keeps update on twitter. Compared to a lot of industry leaders, he is outstanding and for this, I guess Binance won gracefully.

That is the main reason why Binance became so good, because CZ knows what he is doing and follows him because of this talent he has, he only follows what he believes in and he is madly in love with crypto and everyone likes him because of this. He would never do anything that would hurt crypto in the long run, even when the price crash happened because FTX was crashing and CZ didn't help, that is still better because if he did, then maybe in the future it would have been worse.

It’s like taking a medicine that tastes horrible and makes you want to hurl, in the end it may taste horrible but it will make you heal and be better and that’s what matters.

[Silberman]

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem. Why should care about who will win? Whoever the winner, they will never care about us who have been suffering so far. What's happening here, why have two big and top exchanges become like this? And now FTX is really becoming an exchange with very low rank in the CMC. I am sure that both exchanges have their positive and negative sides. But, how some parties spread the FUD and make the FUD much biggger untul crashing the market, this si just a bad way and bad thing.  

What happens is that it was not just FUD, the FTX exchange has been doing all kind of creative accounting to make it seem as if they were in a better shape than they actually were and CZ took advantage of it and destroyed them, if he had not done so it is possible this would have happened anyway, so those people would have lose their money in that scenario as well, the lesson here is to never trust in centralized services as we never know when they are going to collapse.

[asyakashi]

But Binance still remains underdog. I say this because Binance had gotten an attack too, but they were able to anticipate that very quickly. the address of the hacker on the bsc network is frozen, this makes many people proud of binance, while FTX suffers huge losses. but the influence of FTX is not inferior to binance. at least it will make the market a little shaken.

[Rengga Jati]

I do not think that FTX will have a recovery now that they file bankruptcy, they have to stop operation.  This is double hit since users that have fund on FTX can't withdraw and investors who holds FTT will have their holdings possibly reduced to being worthless.  I feel sorry for those investors and users that were caught in the demise of FTX, it is a clear misappropriation of funds and the management should be held accountable for this mess.

What an irony, they have tried to build a reputation for so good and so long, but this is the reality, nothing can be perfect. Weaknesses (which are considered significant and very important) can destroy something very quickly. Like this FTX, they can already reach a high position, but still can be destroyed easily and quickly like shit projects. They are really a mess right now, I can't imagine what's going on in their management and all teams right now.

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem.

This is a fact, who will win will not really give influence us, we can see how many people are suffering from this condition. Some people are utilizing this condition to make more investments, but some people are also suffering because their money is lost very quickly. Ths is the risk of war.

[Luffygroove]

Everyone in the cryptosphere, including CZ and SBF, is losing out, in my opinion. How can it be a winner when all cryptocurrencies crash as a result of this horrible news, I mean? The community became more disillusioned and decided to leave as new investors are reluctant to enter. They believe cryptocurrency is no longer secure. In actuality, centralized parties provided the majority of them. I believe we need to reconsider the fundamental ideas behind cryptocurrencies and blockchain. Decentralized rather than centralized. The cryptosphere needs to return to its foundations.

[Silberman]

Everyone in the cryptosphere, including CZ and SBF, is losing out, in my opinion. How can it be a winner when all cryptocurrencies crash as a result of this horrible news, I mean? The community became more disillusioned and decided to leave as new investors are reluctant to enter. They believe cryptocurrency is no longer secure. In actuality, centralized parties provided the majority of them. I believe we need to reconsider the fundamental ideas behind cryptocurrencies and blockchain. Decentralized rather than centralized. The cryptosphere needs to return to its foundations.

There are always winners and losers, maybe it is not obvious right now but it will be in the future, what we are seeing right now in the market of cryptocurrencies is similar to a forest fire, many plants and animals will die, but with a reduction in the number of competitors the survivors will eventually thrive in that environment, this is what it will happen here too, many coins, exchanges and casinos will die, but the ones that remain will become stronger because of it once the new bull run comes.

[Thomas Kralow]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

For me, this is not good for the cryptocurrency industry if there will be a loser here. We all know FTX and Binance exchanges are huge and well reputable.
Let's say FTX will be rugged and forced to shutdown, then it will be a loss for the crypto industry, regulators for sure will take this as a lesson and become more strict in regulation cryptocurrency even with how big or good the exchange is.

The only winner in this event is the awakening of the crypto world. Let people more clearly understand the importance of decentralization. But at this stage of digital currency development, government supervision is even more important. Like the parents of a family, children need to be given some time to grow and make mistakes. I hope everyone will stop guessing and stop accusing SBF. Of course, he has unshirkable responsibility, but what is the reason, I still believe that his original intention is good. For Binance, due to normal industry competition, Binance’s internal pressure is also very high. CZ’s figure appears everywhere in the world. I suspect that he has no time to talk about a vigorous relationship. There is no doubt that these two people have left a strong color in the long history of the encryption world. From this point of view, I still appreciate it.

[OcTradism]

There are always winners and losers, maybe it is not obvious right now but it will be in the future, what we are seeing right now in the market of cryptocurrencies is similar to a forest fire, many plants and animals will die, but with a reduction in the number of competitors the survivors will eventually thrive in that environment, this is what it will happen here too, many coins, exchanges and casinos will die, but the ones that remain will become stronger because of it once the new bull run comes.

There are winners and losers in a same condition. The collapse of FTX is a serious warning to other exchanges about risk management on their user capital and their exchange capital. The domino collapses of other platforms related to FTX are warnings for other platforms that they should manage risk better.

For investors, who lost money already lost it but for them and the rest, it is a very real and valuable lesson that they must learn to move forwards. Don't store your cryptocurrency at centralized platforms including centralized exchanges.

Generally all of those collapses will result in more and stricter regulations on cryptocurrency that are only good in long run. They are very good tools to clean up cryptocurrency area and protect people better. Less scam, less drawbacks and the industry will only become stronger and more sustainable.

[dwminer1]

"Binance(through CZ) was the company that said that users should get their funds off exchanges. They claimed customer assets are fully backed on Binance. They said you shouldn't trust (other) exchanges and championed proof of reserves. Then they published their proof of reserves article on 10th November at about UTC 13:00:00 or 1PM UTC (the actual snapshot taken earlier obviously) . But only 20 hours after publishing, Binance moved 2.7 Billion USDT to another wallet. This wallet is not disclosed or tagged as a Binance wallet and not present in their "Proof of Reserves" publishing.

Transfer Out of 'Proof of Reserves' Wallet

Then only just yesterday, 200 Million tokens were transferred back into a disclosed Binance wallet leaving around 2.5 Billion Tether left in the new undisclosed strange wallet.

200M from strange wallet transferred back into official Binance Wallet

2.5 Billion still sitting in strange undisclosed wallet

"

More info and source: https://www.reddit.com/r/CryptoCurrency/comments/yxtmv2/binance_moved_27_billion_out_of_proof_of_reserves/

Remember guys, it's better not to trust any exchanges/services, and keep your funds in the private wallets.

[Flexystar]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

Oh great so now we are fighting for the exchangers stand point? What is wrong with people on this earth. I find it so funny that big millionaires like the CEO's of such companies are being cry baby about the FTX exchanger and taking the advantage of the same to showcase their dominance? For me it does not matter who is going to win, the end point is both of them are centralized crypto exchanges and that was the whole point here! They made it go wrong and users registered on them with the funds are loosing their money in the process. I don't understand how market is even reacting to this shit. I think many many people still do not understand the pros and cons of centralized and decentralization of their funds. Unfair market.

[tvplus006]

...For investors, who lost money already lost it but for them and the rest, it is a very real and valuable lesson that they must learn to move forwards. Don't store your cryptocurrency at centralized platforms including centralized exchanges...

Is it really necessary to lose your money in order to learn to adhere to a simple rule of storing coins on a non-custodial wallet? After all, this is a well-known fact that does not require confirmation. Obviously, many people who lost their money thought that this could happen to others, but not to them.

[yohananaomi]

a situation that is really not good where the crisis is protracted, of course, everyone will also be busy with this situation and let them be able to resolve it as well as possible with the risks that must be taken.
no one will feel greatly benefited and will feel victorious with the FTX issue, because the situation that occurs with it will actually exacerbate a market that is already not good, which is clear which will actually make investors gain losses as a result.

[Ziskinberg]

No matter who will win because they both lose their reputation in the community and the trust is already affected.
With these two big companies competing with each other, I'd never expect someone will easily give up.

However, we still give them time to resolve their issue. I think they need some time to settle it down and bring back the money for their clients. If FTX is true to its motivation and helping the crypto grow, they also help themselves become better and proceed to healthy market competition.

[koang]

There should be no competition between winning and losing, FTX looks like it really needs help to protect its users.  The call was answered by Binance, which agreed to sign a letter of intent to acquire.  and the latest news officially cancels the acquisition.  they should help each other to create positive sentiment in cryptocurrencies

What happened to FTX is outright fraud on an unprecedented scale.
SBX and Caroline Alameda are bad actors and menace in the crypto space.

This is a scary time for new investors but this could actually be a good time to buy more Bitcoin at a discount.
Wealth is created during bear markets, not bull markets