Let's not be too judgemental about CZ (Binance)

[doomloop]

Yep, this news is circulating everywhere on telegram right now. Im getting spammed. Well, I dont clearly get the meaning of "sued" here. Does this mean cz going to jail or something ? I hope not.
Cz just tweeted "4" 15mins ago. Another mystery. My heads gonna burst lol.
Edit:
Well 4 means this I guess

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices.  So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

It also doesn't mean that the story is real, I mean we can clearly see that there are a lot of FUDs and attacks happening on Binance lately, and there's no surprise after the crash of FTX, Binance was probably the next target, now we can't really be sure if who is the one targeting it, whether it's FTX behind the scenes, the large authorities or someone unknown.

We can't really be sure if all these stories are true and aren't simply a part of a master plan to take Binance down. I don't think that it can be a coincidence that every couple of days, new bad news comes out about Binance.

[bbc.reporter]

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

You never learn, don't you?
Rember the FTX will be number 1 and invest in FTT stuff?
Or this one?

~

Sam Bankman-Fried's FTX and market maker, venture cryptofund Alameda Research are presently the most liquid companies in the cryptospace.

Stop making idols of these guys, stop seeing them as gods or whatever, they are just some wanna-be Madoffs, but none of them (hopefully) will be able to deceive people as long as that piece of garbage did.

They are not fighting against the government for our sake, they are doing so for their pockets, once it's more profitable to bow down to the authorities they will dump us in a second or throw us at the first that asks for our data and funds like in a pretzel sale. CZ is the guy that wanted to reorganize the blockchain for god's sake, he never gave a second thought, he never cared what others might suffer from it, it was all about his money.

Besides, the whole thing is even funnier, you choose to side with him against the government regulations when in his defense he brags about how many users he has blocked, how many KYC he has refused, how many transactions he has frozen, and how much money he has seized when ask by regulators? Common bruh!

In this thread, I am not talking about idols or the characters behind the cryptospace. That is a discussion for another day. What I am talking about is there is something happening and it might not be a Binance matter or a Coinbase matter anymore. We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

[Darker45]

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

But the reality is that this isn't just between the government regulators and Binance. We shouldn't be reducing it between the two as if there isn't another option lying around. You are not actually limited to these two players only.

I know you're posing a hypothetical scenario, but the reality is different. Why shouldn't we stick to what's real? Why should we be choosing Binance when the options on the ground isn't just between government and a centralized company?

I reckon everyone should begin to recognize that the coordinated attacks on Binance, Coinbase, Chipmixer, Tornado Cash and other services is really an attack on the whole cryptospace. This is not only about Binance or Chipmixer anymore.

This may be true, and I kind of understand your point, but I'm afraid this is the same sentiment that will make rise to the very system Bitcoin is designed to oppose for as long as it is carrying the Bitcoin flag.

It seems like you're saying that the enemy of your enemy is your friend. But centralization is never a friend of Bitcoin. To a significant extent, we can say that Binance is not a friend even if the government is its enemy.

[bbc.reporter]

@Darker45. I cannot argue against you, however, I am only telling everyone that the cryptospace as an industry is being threatened. The government with their different agencies will not stop until it is gone or under their control. Mainstream adoption, ETFs and our other wishes for bitcoin will be shattered in front of everyone.

We might be making a mistake with this attitude of wishing that CZ and Binance should be seized by the government. Whatever the American government accuses what illegal things Binance is doing, they are also being done by banks.



CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

The federal government’s recent actions against crypto are – rightly or wrongly – widely perceived as a coordinated attempt to maim digital assets.

Source https://www.coindesk.com/consensus-magazine/2023/03/30/coindesk-editorial-it-sure-looks-like-the-us-is-trying-to-kill-crypto/

[Darker45]

@Darker45. I cannot argue against you, however, I am only telling everyone that the cryptospace as an industry is being threatened. The government with their different agencies will not stop until it is gone or under their control. Mainstream adoption, ETFs and our other wishes for bitcoin will be shattered in front of everyone.

We might be making a mistake with this attitude of wishing that CZ and Binance should be seized by the government. Whatever the American government accuses what illegal things Binance is doing, they are also being done by banks.

CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

The federal government’s recent actions against crypto are – rightly or wrongly – widely perceived as a coordinated attempt to maim digital assets.

Source https://www.coindesk.com/consensus-magazine/2023/03/30/coindesk-editorial-it-sure-looks-like-the-us-is-trying-to-kill-crypto/

These attacks aren't new as they aren't shocking. As far as the attacks on the larger crypto space is concerned, they may achieve a limited success. They may win their lawsuit against the likes of Kraken and Binance. As a result, they may effectively shut them down just like what they did to Beaxy just yesterday or they may cripple them and earn from the fines. But what have they accomplished really? Nothing.

The attack on the larger crypto space isn't necessarily an attack on Bitcoin itself, upon which the entire crypto space is supposed to be founded. Try as they may in bringing Bitcoin down in all these efforts, what they will achieve is nothing. They will only bring down centralized crypto entities which aren't really representative of what Bitcoin is trying to achieve.

Also, as far as I notice, these efforts are not even bearing fruits as far as development in the space is concerned. When they shut down Chipmixer, how many new mixers came out? If they will be successful in bringing down Binance, how many centralized exchanges will be coming out competing for what Binance has left?

[stompix]

We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

Concerned, and exactly now?
Why would they be concerned when for years I've only heard how the government is fighting crypto is sabotaging it and here we are, with BTC still standing and nothing really harmful happening to it?
Might be that CEX =/= crypto =/= BTC or that just all that drama was as fake as this one?

SEC taking down piece of garbage that has done a lot of harm to BTC, that has brainwashed thousands, that has taken a piss on the whole, not your keys not your fund slogan, that is actually laying every damn second can't be seen as a war against crypto but against some as I said it before, pieces of garbage!

When Binance is charging you extra for segwit and has no plans on ever accepting LN just as Coingbase, when they are both CEX which from the start should be avoided, then why should "all" the industry be concerned?

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

FTX only become a known scam when it crashed down.
Just because Binance is up and running just like FTX last year doesn't mean it has all your funds #SAFU!

[EarnOnVictor]

It also doesn't mean that the story is real, I mean we can clearly see that there are a lot of FUDs and attacks happening on Binance lately, and there's no surprise after the crash of FTX, Binance was probably the next target, now we can't really be sure if who is the one targeting it, whether it's FTX behind the scenes, the large authorities or someone unknown.

We can't really be sure if all these stories are true and aren't simply a part of a master plan to take Binance down. I don't think that it can be a coincidence that every couple of days, new bad news comes out about Binance.

I'm with you on this, Binance has created more enemies for itself by the moves it made against FTX and other exchanges. I will not blame anyone working against it under the shadow, and this might not be FTX entirely but might be the rival companies that want the fall of Binance. As much as we must stay neutral in their cold war. Binance itself is not exonerated from many gimmicks and shady dealings. So, I don't trust the company, CZ only understands the business better which keeps it running.

We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

Concerned, and exactly now?
Why would they be concerned when for years I've only heard how the government is fighting crypto is sabotaging it and here we are, with BTC still standing and nothing really harmful happening to it?
Might be that CEX =/= crypto =/= BTC or that just all that drama was as fake as this one?

SEC taking down piece of garbage that has done a lot of harm to BTC, that has brainwashed thousands, that has taken a piss on the whole, not your keys not your fund slogan, that is actually laying every damn second can't be seen as a war against crypto but against some as I said it before, pieces of garbage!

When Binance is charging you extra for segwit and has no plans on ever accepting LN just as Coingbase, when they are both CEX which from the start should be avoided, then why should "all" the industry be concerned?

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

FTX only become a known scam when it crashed down.
Just because Binance is up and running just like FTX last year doesn't mean it has all your funds #SAFU!

I will always be neutral here, and frankly, CZ has cases to answer too, only that it might not be as grievous and endangering as that of SBF. A lot is going on with Binance, especially the global branch which is as good as underregulated. The US's CFTC dealing with the Binance (US) is an example of it. If they could do what they are alleged under the jurisdiction of the world's most powerful regulator, how much more they will be doing under the underregulated global branch?