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[passwordnow]

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

[Lak93xy]

Hopefully not. It's always the common folk and retail who get punished.
What CZ did was of course silly (there would have been a chance for FTX to recover if he had properly pushed it).

[laurenB7742]

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

I agree with you, although anything is possible, it is clear that CZ is leading Binance to be different from other exchanges, they are always responsible for the incidents that they cause, do not hide, cover up. They have always been pioneers, first Safu and now a new term they created to represent transparency for investor peace of mind, proof-of-reserve.
I believe other exchanges will soon have to follow them, if an exchange can't make their assets public then they have a problem. Investing in cryptocurrencies is always risky and if someone can't take the risk, they should leave the market.

[bittraffic]

CZ announcing to liquidate all the FTT assets they have indeed have the intention but it did successfully exposed who Sam is after that. And more information is revealed about what Sam had done like using customers' funds and the assets of Alameda.

What could be exposed for CZ's anomaly?  Nothing yet.

Eventually, Sam had done nothing for crypto. Saving Voyager and all others were just lobbying politicians to heavily regulate crypto. The nerd was exposed and was actually related to SEC Gensler according to Crypto Banter.

[Iranus]

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

Proof of reserve does not mean the reserve has intrinsic value, but it's like some entity out there decides what has value at a certain time and what doesn't. Again showing proof of what is being done with customer funds is a standardized part of the finance world for a long time now, it's in the same vein as a refrigerator turning on as a basic requirement. It's like when a game takes your USD via micro transaction and splits it into 15 different currencies to obfuscate the player into making poor allocations in resources. It's fucking intentional shit and it's the same thing FTX did to it's investors when dealing with 15 different garbage coins.

I do not intend to defend or blame anyone here, I am simply stating the fact that the crypto market is an extremely risky market and that our money can disappear at any moment. So we should be responsible for our actions, don't blame someone when they let us down. Neither Binance nor FTX force us to deposit funds in their exchange, all decisions are up to us. If we want to get x100 or x1000 profit, we should also be ready to lose everything.

In fact, binance also does not need to explain or disclose its assets to us, if you believe it, use it, if you don't believe it, protect your assets by yourself.

[Despairo]

What could be exposed for CZ's anomaly?  Nothing yet.

Until there's a hacker who get stole all of coins in Binance, so CZ doesn't have any way to refund to every users and pay operational cost etc.

I do not intend to defend or blame anyone here, I am simply stating the fact that the crypto market is an extremely risky market and that our money can disappear at any moment.

What's the reason your money can disappear at any moment? it's because of your stupidity who invest in shitcoins or leave your coins on the exchange? This is why everyone must need to avoid any shitcoins and just invest in Bitcoin, this can prevent your money will disappear since Bitcoin price wouldn't become a dead coin. Also use exchange as a marketplace, if you want to hold your coins, just use hardware wallet.

If you did both this, you will prevent your money disappear at any moment.

[Doan9269]

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

When bitcoin is the king of cryptocurrency, any other coin is believed to work by the dictate of bitcoin which means any all fall with bitcoin lies a big fall on bnb or any other crypto, so how does it occur that bitcoin follow suit from others when they were all sub version of the first digital currency.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Alot of their likes has been existing ever since the first digital currency bitcoin was kaunc and what they create is purely a business strategy for people to invest in them while looking for bitcoin.

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

Cz is a businessma ad expect him to work things out with the implementation that may not work to your favour but to his own interest.

[pooya87]

A LOT of people trusted Sam with hard earned dollars

To be honest I had never even heard about him or FTX for that matter before all this drama began. But I agree, all these centralized platforms and centralized shitcoins they keep creating has been harming the whole cryptocurrency world more than it helps it. Binance and their centralized shitcoin called BNB will eventually have the same fate as its predecessors.

The good news is that all these events are making bitcoin battle hardened. A couple of years ago such a scam would have caused at least a 40% dump. Today it only caused about 16% dump and we have been in an accumulation more which many people think is a bear market so the effects should have been a lot bigger.

[vv181]

~That's why they owe it. It's not to us, or you, or me, it's to the general public.

From the fact of what is happening, the mainstream will become aware of the risk of keeping a coin on an exchange or they might simply just generalise that cryptocurrency is shit due to the recent fall down. On another hand, Binance itself will surely learn from its competitor's mistakes and so does for others.

It's part of cryptocurrencies reaching its maturity whether we like it or not. IMO, The general public should really direct their concern into knowing what they are actually doing, like what it's like behind the scenes. Indeed the regulation will become enforced tightly in the future, especially on CEX, and we can't do anything about it, it's for the sake of the general public. The essential thing is, let keep centralized things centralized, while decentralized currency like Bitcoin will stay the way it is.

People actually have choices, and each chooses their own. Yet we cannot blame others if it is interrelated.

[cabron]

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Which is the Alameda of Binance? There is to be a company or wealthy individual at least that will act as the market maker for Binance. So far there isn't. We know for a fact that Alameda Research had pumped the FTT which is on the leaked data, most of the Alameda assets are FTT.  
CZ is smart enough to only have Binance pumping the BNB which also makes sense after all its thier token.  

FTX pumps every token they list such as tokens on top of Solana through Alameda's funds, retail investors were fooled into thinking they were really valuable. SBF was hailed a Hero for saving Blockfi and all other lending platforms that goes down. So there goes the hero.

[5W-KILO]

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Calm down bro

Recently all centralised exchanges are told to provide their proof of reserves, this will clear things up with centralised exchanges.

We will also know those exchanges who are using fake volumes and liquidity.

Remember, we wouldn't have know what's going on if Binance's CEO haven't revealed the evil plan going on behind the scene. All thanks to him.

I know change is constant for humans but my dear even if BNB is built by aliens will you trust them? Evil men have ruined the thoughts of the possibility that good men still exists.

So far Binance CEO is a good man and I hope things stays this way.

[Jackl87]

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.
What is BNB?
Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…
Who owns BNB?
A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.
A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

I don't really understand what you mean with your statement that BNB is a market full o fnothing but altcoins backed by air, dust, magic and dreams. Do you mean that there are mostly shitcoins launched on the Binance Smart Chain? If that is the case then i probably agree with you. The reason for that are also quite simple. The BSC chain is the second most adopted blockchain after Ethereum but has way lower fees than it, which means it is way cheaper for creators of scam projects or stupid meme-coins to create and launch their project there.
That does not mean though that there are no good projects running on the BSC chain.

[goaldigger]

Hopefully not. It's always the common folk and retail who get punished.
What CZ did was of course silly (there would have been a chance for FTX to recover if he had properly pushed it).

Let’s not blame Binance on what happened to FTX, it’s their own fault and mistake which they should have a proper solution before getting into a worst situation. Binance is Binance, it is controlled by people and trusted by many because of what they are doing as they continue to improve their platforms. Bitcoin will always be the top option of course but without good platforms, it will be hard to own Bitcoin so we are still lucky that we have Binance as our option to deal with the market.

[nakamura12]

At least they are honest with their security level and also getting hacked. Well, since it's centralized then they can froze which will stop anyone from transferring crypto out of the wallet and it is also known by many people that they have reserved funds if ever the funds are successfully stolen by the hacker which is good in my opinion. If you are one of the victims due to their low security atleast you can sti get your money from binance. I also don't think most of the crypto there are backed by air dust magic and dreams.

[dothebeats]

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Binance has already established themselves as the top dog of the crypto exchange industry. Pretty sure they already had bought actual assets and are not inflating BNB in order to gain more $$$ for themselves. They had been through a lot of breaches, hacks, and CZ has been in a lot of controversies but it seems that people no longer care because they know that Binance can easily just sweep these things aside and push forward with just being an exchange that delivers. Sam Friedman did a lot of miscalculations that caused the exchange to fail, and honestly it's not Binance's fault that an opportunity is presented in front of them.

I know that Binance and CZ also plays dirty, but at least they know how to play it safe—so far.

[WalkerIVIV]

It's always individuals that lost their hard earned investment money at the end of the day, indeed BNB definitely have the chance of repeating the same mistake all over again since it's just the same thing, I guess considering that there isn't all coin that got affected by the recent event of ftt crash I think it's safe to say that diversifying investment is definitely a good choice, right now it's better to invest in coin like matic and eth where it's just smart contract coin that grow naturally.

[btc_angela]

I guess we all have to stomach everything when BNB falls, and I do agree that it might really take a hit on bitcoin as we all know that CZ and his Binance is the top exchange right now. And if by chance it too fall as well like FTX, then maybe this could be considered as the next Mt. Gox.

So let's see how CZ will do it, I mean we have seen Luna And FTX collapses, CZ will have to think on how to mitigate the risk if he is on the same boat with FTX.

It's just a question if CZ or his Binance or his BNB is too big to fall. But it just shows that any altcoins can simply fall into pieces in a blink of an eye.

[Marykeller]

It's normal to feel this way. I understand your point that trusting your investment in someone else care is longer safe nowadays. Due to the recent happenings in crypto. No cause for alarm because CZ has made a name for himself on his exchange and out of the crypto exchange. CZ has been transparent and supportive of crypto, we saw how he handle the case of the luna crash. As for him, he has crypto investors at heart all the time. In case of any bad occurrence, he is there to help, figure out and manage the solutions. Just have a chill pill

[vanesha]

Everyone here is those who want to develop their assets, of course, just want to make a profit. His biggest temptation is the greed itself, sometimes not only harming himself but involving others such as making exaggerated news so that the coins he holds sell well. I understand that risk, it's cruel.