Binance lots of FUD

[arwin100]

after FTX collapsed, FUD news for certain markets (including binance) seems to be trending right now.
because after FTX bankruptcy some people no longer trust centralized exchanges and those who are skeptical will always spread bad news about some big market.
for me this is something natural. because the loss of faith in a centralized exchange will remain in memory for a long time and those who suffer heavy losses will go crazy and can become a factor in the spread of FUD for binance.

Binance was been target with fuds over the years and not surprising to see another one like this because maybe some organization just got worried about if it will go the same with FTX which stole a lot of money from its user. Also normal to get more fuds as this exchange is so successful so I guess there are just people want to destroy or just trying to see if what they do can affect peoples decision towards their trades.

[HmmMAA]

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames , i've never heard of this guy so far , but he seems to know what he's talking about .

[Ultegra134]

snip

As much as I'd like to disagree, you're right. FUD or not, it practically costs nothing to withdraw money to a non-custodial wallet. The risk of anything happening is far greater than the cost of the transaction. I honestly don't understand where all this FUD regarding Binance is coming from; I also read FUD regarding a Tether crash, but nothing has happened. I understand that people are a lot more frustrated and worried after the FTX bankruptcy, but I honestly believe that Binance is unlikely to have the same fate. Cryptocurrencies will take a massive hit if Binance crashes, and nothing will ever be the same again.

I am not claiming that Binance will never crash, but I also want to say that FTX crashing doesn't mean binance will crash too. The collapse of Mt.gox does not mean that coinbase or bitfinex, the exchanges that were born at the same time as Mt.gox, will also collapse.

Recently, withdrawals on Binance were at a record high, but everything went very smoothly and no investors had problems, so it can be said that this is a pretty dirty FUD from Binance's competitors.

I don't leave money on Binance, but I don't believe that Binance will be in trouble at this point, they are doing a great job as the top exchange in the market. Many people say FTX is the 2nd largest exchange, but I never used it until it died.

Binance may never crash, but it may fall victim to an exploit or a hack. In this case, I'd want to believe that they would compensate their users, otherwise, their reputation would soon shut them down. In my opinion, exchanges are generally safe, but they're not meant to be cryptocurrency storage. What happened with FTX is saddening, but I highly doubt that we're going to have another exchange crash. Supposing it happens, it would cause massive market issues, and cryptocurrencies would no longer be the same. Whether we like it or not, centralized exchanges are an irreplaceable part of the market.

[DoublerHunter]

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames , i've never heard of this guy so far , but he seems to know what he's talking about .

^If this will happen, there are a lot of people or traders who will cry, and the whole crypto industry image will destroy because that is a scam and sure BTC price will also be affected. There is a lot of humor that I heard about CZ and yes, possibly of a scam, but this accusation which I don't believe until when there is Binance successfully operates in this crypto market field. I don't know either if this is a FUD or a reality, look at people get panic about what CZ said, and now they start moving their BTC into the noncustodial wallet, and CZ pointed it out to the Trustwallet which I don't trust.
However, this fear of the people has a good outcome for us, because we learn to hold our coins under our custody and not use a third-party exchange.

[BitDane]

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames , i've never heard of this guy so far , but he seems to know what he's talking about .

It is FUD until proof is given out.  Another thing someone that is paid by SBF of $15m is pointing the blame of FTX collapse to Binance. I do not know if the statment of this person caries a weight because it is known that this guy has been paid $15m as spokesperson of FTX.  I wonder why it is Binance fault that FTX collapse.  Binance just wanted to get its money back that is originally their before it is invested to FTX shares.  Besides I think it has been a year and half ago and FTX had been spending billions of dollars after that incident.

[BitcoinUpOnly]

Lots of FUD but better safe than sorry.

How much effort is it really to just cold storage your crypto?
Leaving it on an exchange with warning signs doesn't make any sense now, unnecessary risk.

[Nhebu]

Just to add some spice to the FUD news. Kevin O' Leary also said that Binance put FTX out of business and in addition to that, he wanted to emphasize that Binance is a massive UNREGULATED monopoly right now.

Seems like it will cause a huge impact to the BNB specially to the exchange itself. I am looking forward if there are big news about binance for upcoming days. If there is, I think it's time to get my investments in binance and put it on my cold wallet.

Anyway, here is the link:

https://fb.watch/hs_HqTdanC/

[Despairo]

Lots of FUD but better safe than sorry.

How much effort is it really to just cold storage your crypto?
Leaving it on an exchange with warning signs doesn't make any sense now, unnecessary risk.

Most people don't care about cold storage or hardware wallet since they're think Binance has SAFU that will cover all losses just like banks, while actually there's no transparency about Binance's SAFU and it's not cover all the losses. Especially CZ have give misleading information if storing your crypto or Bitcoin on hardware wallet increase the risk of lost it all since people usually forgot about their seed phrase. Although it's partially correct but it's a user fault and they can prevent it if they've learn to safely write their seed phrase on steel plate.

[Mr. Magkaisa]

    -  Until now, there is still a lot of FUD spreading in binance, one of which is the mainstream media that interviewed him live at a broadcasting company, where the questions seem to want to embarrass CZ in the audience, although the question has a point. to Cz.
 
Even the other critics who are politicians also let it be known in an interview that binance is to blame for why FTX was closed, even though it is obvious that there was a violation.

But even though the issue facing Binance is big, they know they can handle it and overcome it. Maybe that's normal when a tree bears a lot of fruit so a lot of fruit is thrown.

[DanWalker]

snip

As much as I'd like to disagree, you're right. FUD or not, it practically costs nothing to withdraw money to a non-custodial wallet. The risk of anything happening is far greater than the cost of the transaction. I honestly don't understand where all this FUD regarding Binance is coming from; I also read FUD regarding a Tether crash, but nothing has happened. I understand that people are a lot more frustrated and worried after the FTX bankruptcy, but I honestly believe that Binance is unlikely to have the same fate. Cryptocurrencies will take a massive hit if Binance crashes, and nothing will ever be the same again.

I am not claiming that Binance will never crash, but I also want to say that FTX crashing doesn't mean binance will crash too. The collapse of Mt.gox does not mean that coinbase or bitfinex, the exchanges that were born at the same time as Mt.gox, will also collapse.

Recently, withdrawals on Binance were at a record high, but everything went very smoothly and no investors had problems, so it can be said that this is a pretty dirty FUD from Binance's competitors.

I don't leave money on Binance, but I don't believe that Binance will be in trouble at this point, they are doing a great job as the top exchange in the market. Many people say FTX is the 2nd largest exchange, but I never used it until it died.

Binance may never crash, but it may fall victim to an exploit or a hack. In this case, I'd want to believe that they would compensate their users, otherwise, their reputation would soon shut them down. In my opinion, exchanges are generally safe, but they're not meant to be cryptocurrency storage. What happened with FTX is saddening, but I highly doubt that we're going to have another exchange crash. Supposing it happens, it would cause massive market issues, and cryptocurrencies would no longer be the same. Whether we like it or not, centralized exchanges are an irreplaceable part of the market.

The collapse of an exchange is like the bankruptcy of a business, it will affect some people but not kill the market. I believe there may still be other crashes in the future, but everything will be fixed, and the market will still grow.
Many people compare FXT with binance, but personally, I find the difference quite large, FTX is too small compared to Binance.
If you look at the rankings of exchanges, you can see that Binance's trading volume is the largest, and Binance's volume is equal to 10 other exchanges combined. Shows how reputable they are in the market.

[Wind_FURY]

FUD or not, this is what we actually want, no? The withdrawals from Binance is nothing but another celebration of the Proof-of-Keys Day every year, during January 3, without that day being during January 3.

It's probably not what everyone wants, and it's probably a cause for panic for some, but with that, it's also a test if the exchanges' "100% user deposit reserves" claims are true or not.

[swogerino]

FUD or not, this is what we actually want, no? The withdrawals from Binance is nothing but another celebration of the Proof-of-Keys Day every year, during January 3, without that day being during January 3.

It's probably not what everyone wants, and it's probably a cause for panic for some, but with that, it's also a test if the exchanges' "100% user deposit reserves" claims are true or not.

I agree,as long as people withdraw their majority of the coins from the exchanges is a win situation for them and leave only the amount needed for trading,you cannot use Binance no matter how trustworthy they maybe to conserve your coins,Binance still remains a third party and over a third party we have absolutely no control whatsoever.

The only people panicking are the ones who do not take the time to learn how to keep their cryptocurrencies 100% safe in wallets where they have the private keys or in hardware wallets and sooner rather than later they learn this the hard way.

[borovichok]

Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

[bittraffic]

FUD or not, this is what we actually want, no? The withdrawals from Binance is nothing but another celebration of the Proof-of-Keys Day every year, during January 3, without that day being during January 3.

It's probably not what everyone wants, and it's probably a cause for panic for some, but with that, it's also a test if the exchanges' "100% user deposit reserves" claims are true or not.

I agree,as long as people withdraw their majority of the coins from the exchanges is a win situation for them and leave only the amount needed for trading,you cannot use Binance no matter how trustworthy they maybe to conserve your coins,Binance still remains a third party and over a third party we have absolutely no control whatsoever.

The only people panicking are the ones who do not take the time to learn how to keep their cryptocurrencies 100% safe in wallets where they have the private keys or in hardware wallets and sooner rather than later they learn this the hard way.

The people who withdraw though are going to lose the chance to invest in coins that are bottoming. When Binance proves they are solvent and not doing something just like FTX, Binance will arise victoriously.  It seems like they are pressing CZ way beyond what they ask of SBF and making it look like it's CZ's fault for FTX bankrupt.

SBF said to Oleary that he paid about 3B to CZ two years ago which is the reason for their insolvency. Saying this means FTX was already insolvent for 2 years. Clearly, they have the intention to scam investors. But Oleary instead uses this to pin Binance.

[rhomelmabini]

Binance is one of the safest exchange in the world

That's what we know and what we've been told but I think Binance can really put up a good fight here from critics. I still believe they really are a trusted exchange and this is not the first time Binance received such recognitions of FUDs.

The people who withdraw though are going to lose the chance to invest in coins that are bottoming.

You're wrong on that notion, remember there are still liquid decentralized exchanges out there that list these tokens you're saying is bottoming out. Fees these days aren't that high anymore unless we see a surge of demand for acquiring these tokens at the same time, it could have gas wars.

[Peanutswar]

There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

[dimonstration]

Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

Safest word is ironic to attached on CEX even with Binance since you didn’t have your keys to your coins once you deposit in there. You risking your money once you deposit it on exchange wallet so I don’t find using the word safest relevant for an exchange that doesn’t give you the full control of your assets.

The whole discussion here is about the FUD on Binance itself and not on the effect of FUD on traders inside the Binance. The trading feature is really risky if you didn’t knew how it works but what more risky is when you store your coins inside Binance.

[d3nz]

after FTX collapsed, FUD news for certain markets (including binance) seems to be trending right now.
because after FTX bankruptcy some people no longer trust centralized exchanges and those who are skeptical will always spread bad news about some big market.
for me this is something natural. because the loss of faith in a centralized exchange will remain in memory for a long time and those who suffer heavy losses will go crazy and can become a factor in the spread of FUD for binance.

Binance was been target with fuds over the years and not surprising to see another one like this because maybe some organization just got worried about if it will go the same with FTX which stole a lot of money from its user. Also normal to get more fuds as this exchange is so successful so I guess there are just people want to destroy or just trying to see if what they do can affect peoples decision towards their trades.

I think this is just a strategy and spread FUDs for people to go panic, this kind of news really affects the cryptocurrency value even though it is just an exchange but still has a huge impact. People nowadays are depending on the news even though it's just a rumor or fake article and just go with the flow if it will go up or down.

[tvplus006]

There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

Looking at the BNB chart, you can see that the price is still in a bullish trend, despite the fact that almost the entire market is in a bearish one. This correction should have been there anyway, and all the negativity around the Binance just serves as an excuse for this correction.

[virasog]

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames , i've never heard of this guy so far , but he seems to know what he's talking about .

I think it is mostly a fud and an effort to birng down the world biggest exchange binance down. Remember it is believed that it was CZ who is responsible to tweet about FTX and which caused the collapse of FTX. It is also thought that binance wanted to rule out the competitor and he did it in a most efficient way.

Now the American exchanges want to take revenge from binance and they want to take binance down. Due to this fud, people are withdrawing funds but binance is able to process the funds and till date there is no panic situation.

I dont know if its between "FTX or Binance" or it is between the "American Exchanges Vs the Asian exchanges", but in the end it is good for the crypto investors and they realized that these central platforms are not safe and we will never trust CEX. Hopefully it will increase more demand for decentralized exchanges.