Who will win, FTX or BINANCE?

[Rjakash]

I don't know who will win, but whoever has the best forehead, God will give it to him, but I have never received it, so I hope to get something one day.  Do not lose hope whether you get something or not, you must keep hope, inshallah one day you will get it.  But getting from Binance is not easy but not cheating.

[dlightag]

This is not good for cryptocurrency industries, and the effect really affect the crypto market, which make bitcoin to dip more than before, Checking on FTX and Binance fight has been a very high impact news that clash the Bitcoin price to a point of all time low after the bull run.

[dwminer1]

FTX Trading LTD owes its top 50 creditors approximately $3B, according to a court document filed on Nov. 20. The document was filed as a part of the company's Chapter 11 bankruptcy proceedings through the United States bankruptcy court for the district of Delaware.

According to the filing, FTX owes the top individual alone more than $226M, while the remaining debtors each owe between $21M and $203M. The creditors' names are unknown, and their addresses are kept private. According to the document:

“The Top 50 List is based on the Debtors’ currently available creditor information, including customer information that could be viewed but is not otherwise accessible at this time. The Debtors’ investigation continues regarding the amounts listed, including payments that may have been made but are not yet reflected on the Debtors’ books and records. The Debtors are also working to obtain full access to customer data.”



Source: https://storage.courtlistener.com/recap/gov.uscourts.deb.188450/gov.uscourts.deb.188450.51.0.pdf
Source 2: https://storage.courtlistener.com/recap/gov.uscourts.deb.188450/gov.uscourts.deb.188450.51.1.pdf

[RealMalatesta]

Binance has strong financial support and according to analysts from many experts is the largest owner of Bitcoin Cryptocurrencies assets, maybe people will say it is difficult to prove but Binance's reputation from the beginning appeared in 2018 was never doubted, when early 2018 I was actively trading in Binance, getting a lot Airdrops and Rewards, then when I leave almost 3 years and leave assets, everything is safe, unlike other exchanges that remove assets when we leave for a long time.

I mean that wouldn't shock me, if it is only their own bitcoins we are talking about then it would be shocking for sure, but if we are talking about all the money they have from customers as well, this is the biggest exchange in the world, so all of the bitcoins from suers would mean that they could easily be the highest amount of bitcoins for sure.

That doesn't mean that it will be an easy task, we need to make sure that they are keeping it as safe as it could get because it’s too much, tens of billions of dollars all in their safe, and that’s a scary thought. However, that also means that they are very well aware of the trouble they are in, and must be securing it carefully.

[len01]

That doesn't mean that it will be an easy task, we need to make sure that they are keeping it as safe as it could get because it’s too much, tens of billions of dollars all in their safe, and that’s a scary thought. However, that also means that they are very well aware of the trouble they are in, and must be securing it carefully.

and it's not only a very tough task for binance but also the security that must always be maintained to protect the customer's assets that are on the platform.
actually all of that is not a guarantee that binance will have a 100% security guarantee, but what you need to worry about is competition between large companies that will shift other companies such as drama binance with FTX at this time.
we can't imagine what if one day what happened to FTX will happen to binance. very terrible

[Muba20]

That doesn't mean that it will be an easy task, we need to make sure that they are keeping it as safe as it could get because it’s too much, tens of billions of dollars all in their safe, and that’s a scary thought. However, that also means that they are very well aware of the trouble they are in, and must be securing it carefully.

and it's not only a very tough task for binance but also the security that must always be maintained to protect the customer's assets that are on the platform.
actually all of that is not a guarantee that binance will have a 100% security guarantee, but what you need to worry about is competition between large companies that will shift other companies such as drama binance with FTX at this time.
we can't imagine what if one day what happened to FTX will happen to binance. very terrible

Yes, this kind of situation is very scary. Market is on red signal due to FTX. Thousands of investors have lost their wealth and if any such situation happens with Binance then investors will have no confidence anywhere else which will be really terrible. We don't want conflict. Owners may have nothing to lose in a conflict but ordinary investors have to lose everything.

[DeathAngel]

This didn’t age well did it. I guess none of us were to know the extent of the amateur business practises of SBF & his executives. I’m shocked myself to be honest, there was gross misconduct & outright fraud from all directions.
There simply must be jail time for many of them. There is no defence or reasonable excuse for playing Russian Roulette with customer funds, it’s inexcusable.

[raidarksword]

No need to compare because in the end FTX got bankrupt due of their greed and made the crypto to go crashing again courtesy of SBF fooled everyone in the crypto industry. Binance will always be the top dog in the industry and always be a good role model in the crypto space and also all the credits to the man CZ for being a savior of crypto.

[Gayong88]

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.

From the outside, the Binance solution looks just as good as the FTX solution. In an update from FTX in regards to their exchange, they stated that their exchange is going to integrate a blockchain solution and solve scalability issues. The main purpose of this update was to show how well they are doing as a team, and that they are making progress towards their goal of getting a working product.

[gunhell16]

This didn’t age well did it. I guess none of us were to know the extent of the amateur business practises of SBF & his executives. I’m shocked myself to be honest, there was gross misconduct & outright fraud from all directions.
There simply must be jail time for many of them. There is no defence or reasonable excuse for playing Russian Roulette with customer funds, it’s inexcusable.

I just want to add something to what you said, as far as I know, the funds that investors put into Ftx were given as a donation to an influential person in the government, so SBF's backup is coming out strong now, despite all the bankruptcy declarations.

But of course, the Ftx incident is still being investigated, so just like I mentioned, it looks like SBF will be able to get through this because of its backup. However, even there is an investigation happening and doing it by the FBI the evidence I think is not that strong againts SBF.

[Oneandpure]

I just want to add something to what you said, as far as I know, the funds that investors put into Ftx were given as a donation to an influential person in the government, so SBF's backup is coming out strong now, despite all the bankruptcy declarations.

But of course, the Ftx incident is still being investigated, so just like I mentioned, it looks like SBF will be able to get through this because of its backup. However, even there is an investigation happening and doing it by the FBI the evidence I think is not that strong againts SBF.

I think have clearly with FTX exchange problem and could said scam, I don't think have good result about investigation for user and member have assets in FTX exchange. FTX was declared with bankruptcy and their coin drop drastically give impact for user can't withdrawing their fund and almost the same finished with other scam exchange before.

Be careful for long term holding assets in several exchange market, I worry after FTX which one bigger exchange market become scam and run away much money from investor. Actually I dislike what CZ as owner from Binance how to make bad reputation with FTX exchange before collapse and not have solution about refund assets for user hold their money in FTX.

[lixer]

That doesn't mean that it will be an easy task, we need to make sure that they are keeping it as safe as it could get because it’s too much, tens of billions of dollars all in their safe, and that’s a scary thought. However, that also means that they are very well aware of the trouble they are in, and must be securing it carefully.

and it's not only a very tough task for binance but also the security that must always be maintained to protect the customer's assets that are on the platform.
actually all of that is not a guarantee that binance will have a 100% security guarantee, but what you need to worry about is competition between large companies that will shift other companies such as drama binance with FTX at this time.
we can't imagine what if one day what happened to FTX will happen to binance. very terrible

I think it would be better to not store all the money in a single platform but they need to diversify it on other storages outside binance so that when there's a hack, they still have something to get but I trust the security of binance. They have enough funds to hire the best people to work their security and I never heard binance got hacked.

If there are companies that will shift the drama to binance, it will be clear that they are butt hurt and want binance to go down. The public are going to attack them instead and not binance because I know that many people still love binance at the moment despite of what they have acted last time on FTX.

[diminizio]

it looks like binance will win easily because FTX was proven to get a hack a few days ago, already some people have experienced asset theft after updating its application even the old application. I think as long as binance can keep her safe she will be as long as her best can be.

[Sayeds56]

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.

I think there is no winner , all are losers. FTX collapsed and filed bankruptcy and Binance also got hurt barbecue investors are losing confidence in crypto & withdrawing their funds from central exchanges which is bad for the entire industry. Though damage given by FTX is temporarily but market may take months to recover & if any more such incident happens in coming weeks, it will again derail the market.

[Ani1985]

Binance … FTX is trying to buy Voyager rn … so they have a lot of money tied up in that … The main thing here is that investors will loose for sure:(
I wish these guys stop their ego which is killing many investors present and future.

I'm happy if the plan to buy Voyager continues because I am also Hold Voyager, unfortunately FTX is currently in serious matters and has officially registered bankruptcy in court, this is a disaster from a large exchanges so that it makes a market drop and is difficult to rise again.

[Yamifoud]

it looks like binance will win easily because FTX was proven to get a hack a few days ago, already some people have experienced asset theft after updating its application even the old application. I think as long as binance can keep her safe she will be as long as her best can be.

if we can only just do assumptions, then FTX will become guilty but it was different when it comes to court. A lot of things needed to present in court, documents, etc in order to make someone guilty and take responsibility. Since they are one of the big exchanges in the crypto market, dealing with them is not easy and the process will take so long.
Might we can say it was FTX but many people had a feeling about conspiracy.

[Party24*7]

Binance … FTX is trying to buy Voyager rn … so they have a lot of money tied up in that … The main thing here is that investors will loose for sure:(
I wish these guys stop their ego which is killing many investors present and future.

You mean they are fighting, I don't think so, FTX would be fine if they didn't really have a problem, they used the user's money leading to a depleted reserve so sooner or later it goes bankrupt. Binance is just a small catalyst to make things faster but you are right nobody wins here, only losers here are investors like us.

[RealMalatesta]

and it's not only a very tough task for binance but also the security that must always be maintained to protect the customer's assets that are on the platform.
actually all of that is not a guarantee that binance will have a 100% security guarantee, but what you need to worry about is competition between large companies that will shift other companies such as drama binance with FTX at this time.
we can't imagine what if one day what happened to FTX will happen to binance. very terrible

I feel like it’s not that hard if you are paid billions of dollars? I mean we are talking about giant of a company and if they are not greedy then it will be fine. Why did FTX crashed? They were too greedy, the owner wanted more and more of that money, he wasn't paid that, he was given to hold it for customers, but he used it for his personal gains and that caused the trouble because market crashed.

This means that when people want to withdraw their money, it’s not there because owner used it to buy stuff. This shows that if you run a proper exchange with none of that, then you could make a ton of money and you would not be in trouble and Binance I believe doesn't use your money at all.