Binance lots of FUD

[stompix]

So, this is another Fud that the critics just magnified. What do you think?

Let me quote myself:

Terra was FUD, Celsius was FUD, FTX was FUD, let's go back to 2013 and there were people saying MtGox being insolvent is FUD!

As for Justin Sun and his supposed 100 million deposit, just lol. Remember this?
Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX

Nov 10
My team has been working around the clock to avert further deterioration. I have faith that the situation is manageable following the wholistic approach together with our partners.  Stay tuned #TRON @FTX_Official 🔥!

So, you have faith in the guy that said he has faith the situation at FTX was manageable?
Then label me an unfaithful infidel!

What can cost you to pull your assets out of Binance if nothing happens? 5$!
What will it cost you if you don't withdraw and the FUD is not FUD at all? Everything!
Not so hard to choose, isn't it?
The whole thing about Bitcoin is to be your own bank, not CZ's boot licker.

[1715653288]

1715653288

[1715653288]

1715653288

[Hypnosis00]

We can say that FUDs are useless but guess what, this sometimes gives us information and awareness also. We can never tell if this news and reports are fake until we research. In some instances, this has already been made to ruin someone and Binance is one of the big exchanges in which I see this is a part of the competition. But yes, we can't also neglect the possibility that Binance did something wrong, we never know until someone from inside will have the courage to tell in public.

Whether it was FUDs or that is true, we still need to be careful in using exchanges, and put FTX as an example.

[jrrsparkles]

Withdrawal from exchange's wallet doesn't need to be considered as FUD, its a good thing is happening after the collapse of FTX but about the lawsuits and security related issues Binance is doing pretty well so nothing to worry about that part but did they involved in money laundering I hope not because they are already the biggest cryptocurrency exchange so they are making more money from actual trading itself if I am not wrong.

[d3nz]

Withdrawal from exchange's wallet doesn't need to be considered as FUD, its a good thing is happening after the collapse of FTX but about the lawsuits and security related issues Binance is doing pretty well so nothing to worry about that part but did they involved in money laundering I hope not because they are already the biggest cryptocurrency exchange so they are making more money from actual trading itself if I am not wrong.

There are some speculations that some whales and known big investors are pulling up their assets on Binance to make FUDs but we can never know what is behind their actions. If they are trying to dump the value of BNB and hoard them while traders are having a panic on selling it

Having this kind of news can really affect the value of BNB but also can be taken advantage of, as we traders only buy on-trend.

[jrrsparkles]

Withdrawal from exchange's wallet doesn't need to be considered as FUD, its a good thing is happening after the collapse of FTX but about the lawsuits and security related issues Binance is doing pretty well so nothing to worry about that part but did they involved in money laundering I hope not because they are already the biggest cryptocurrency exchange so they are making more money from actual trading itself if I am not wrong.

There are some speculations that some whales and known big investors are pulling up their assets on Binance to make FUDs but we can never know what is behind their actions. If they are trying to dump the value of BNB and hoard them while traders are having a panic on selling it

Having this kind of news can really affect the value of BNB but also can be taken advantage of, as we traders only buy on-trend.

If the traders are concerned about BNB then they could opt for stop loss like 10% but this is the strategy by whales all the time so nothing really new to be worried. But for me staying away from BNB or any assets value which highly depends on the reputation of others will be a wise choice.

[TheGreatPython]

I don't think there's anything wrong with people withdrawing their funds from Binance, it's something that should've been done much earlier on imo, FTX just painted it in a bolder color. I reckon as long as Binance is pretty honest with what it does and the funds are obviously used to what they're supposed to be used for (and not for), they should be fine in the long term. That is unless someone finds some solid evidence of something wrong, like in the case of FTX, then you can probably expect a big impact on the scene, considering how big Binance is as an exchange.

It's not wrong to withdraw a fund out of binance or any other exchanges because people don't came in crypto for nothing but they invest to earn. Even if it's not a bull season, we are now in crisis and people might need money so they will still sell.

For those who don't need money, storing some money in trusted a exchange like binance are still fine but they should always be vigilant and always track the platform so that they can do an immediate action before the worse has yet to come. We shouldn't be affected on what we hear on the news because not all of them are true but some them are only a FUD, trying to scare the people more and tries to destroy the reputation of other innocent exchanges.

[Ziskinberg]

I don't think there's anything wrong with people withdrawing their funds from Binance, it's something that should've been done much earlier on imo, FTX just painted it in a bolder color. I reckon as long as Binance is pretty honest with what it does and the funds are obviously used to what they're supposed to be used for (and not for), they should be fine in the long term. That is unless someone finds some solid evidence of something wrong, like in the case of FTX, then you can probably expect a big impact on the scene, considering how big Binance is as an exchange.

It's not wrong to withdraw a fund out of binance or any other exchanges because people don't came in crypto for nothing but they invest to earn. Even if it's not a bull season, we are now in crisis and people might need money so they will still sell.

For the safety of every holder, they should never have to keep their fund longer in the exchange even if it was a reputable exchange. They can be trusted in some other way but when it regards storing our funds with them for a long time, we are taking a higher risk which is highly not advisable. 
Despite the connection of Binance to FTX many people still use this platform but I'm sure they are not much careful. It really changes a lot and FUDs are certainly winning this time but I don't think Binance will collapse just for this.

[blockman]

Binance is centralized and that's why many are starting to panic when there's bad news about them. What if before the bad news Binance starts to halt withdrawals? Well, that's the real thing but so far, this is just to make a FUD and if the thing is real, Binance will handle it for sure...

It looks like Binanse did an excellent job with the test, ensuring uninterrupted withdrawal on customer demand, which was a consequence of FUD. And after this FUD disappears completely, Binance will receive even more traders and, accordingly, even more funds that will be transferred from other cryptocurrency exchanges.

Yeah, I believe that it will happen. They just did it the way it is when there's a FUD. The price of their BNB went down because for sure, there's a correlation with the FUD.
But still, this has normally happened and it will still be good as it is again because they'll just have to cater the customers demand, whether they're deposits or withdrawals.

[lalabotax]

I really don't expext so much FUD is  kw spreading not only to the shit projects. But the main targget of the FUD is the top and big platform. Ut was FTX and bow it is Binance. I don't know what will happen to the centralized exchanges if a top exchange like Binance is also crashing
 

[Ryker1]

I really don't expext so much FUD is  kw spreading not only to the shit projects. But the main targget of the FUD is the top and big platform. Ut was FTX and bow it is Binance. I don't know what will happen to the centralized exchanges if a top exchange like Binance is also crashing
 

Well they started the fire that trigger people to withdraw their assets on exchange, they exposed FTX, and they also exposed Coinbase doing so what people expect is that they are the same because they are the same in a business. The competition of these centralized exchanges was still going on and now they are affected by what they are doing. This FUD that the made is a good advantage to the people, they are now realized that leaving their assets in a centralized exchange is very danger so they are rushing to pull them out of the centralized exchange.

[Stedsm]

Well, it all started since the beginning and everyone in this industry is here to earn money, lots of money.
There's nothing wrong in doing that and even admitting it, what matters is how they do it. Let's say what you think is true ATM, and it's all FUD, then it's all good.
What will happen when it turns out to be truth? It'll be a nightmare for almost all of us because after the FTX shit, we all got our eyes stuck on Binance because we thought that their PoR thing is about to bring some transparency, still there are some disputes rising about their facts and figures that CZ has produced in public. Don't blindly trust any exchange and only keep that much money over there which you can afford to lose. We used to say this for any gambling or other niche websites where there are chances of either the owners taking away your money and scam you for no reasons, be it account blocks or something else. But now, I believe that this statement belongs to exchanges as well.

[Ultegra134]

So, this is another Fud that the critics just magnified. What do you think?

Let me quote myself:

Terra was FUD, Celsius was FUD, FTX was FUD, let's go back to 2013 and there were people saying MtGox being insolvent is FUD!

As for Justin Sun and his supposed 100 million deposit, just lol. Remember this?
Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX

Nov 10
My team has been working around the clock to avert further deterioration. I have faith that the situation is manageable following the wholistic approach together with our partners.  Stay tuned #TRON @FTX_Official 🔥!

So, you have faith in the guy that said he has faith the situation at FTX was manageable?
Then label me an unfaithful infidel!

What can cost you to pull your assets out of Binance if nothing happens? 5$!
What will it cost you if you don't withdraw and the FUD is not FUD at all? Everything!
Not so hard to choose, isn't it?
The whole thing about Bitcoin is to be your own bank, not CZ's boot licker.

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.

[samcrypto]

I really don't expext so much FUD is  kw spreading not only to the shit projects. But the main targget of the FUD is the top and big platform. Ut was FTX and bow it is Binance. I don't know what will happen to the centralized exchanges if a top exchange like Binance is also crashing
 

The market will realize that DEX are more safe compare to CEX, and with this FUD issues of Binance they should handle this professionally and act right now before its too late. Binance have to prove that this is just a FUD to avoid panic. Many are attacking CEX because of what happened to FTX or maybe they really see something bad on the current system of Binance, hard to know this one.

[Oceat]

I've seen this in the past and it's unavoidable since it's the bearish trend when everything seems so down all you have to do is do the opposite of what the others been doing. Binance has a lot of altcoins/tokens and most of their coins are subject of pump and dump coins and which is not focused for long term investment. It's normal to see such dumping since investors are trying to save their investment to sell whatever they can if the price is dropping.

[o48o]

So far everything has worked out great. I've seen many times  what happens when people leave the failing exchange. They close withdrawals because "maintenance". Causing people to panic even more. So i think binance has handled this fine. However If binance goes down, everything goes down with It.

[AicecreaME]

FUD(s) are just rumors if they don't have proofs, and don't store your money in an exchange no matter what, especially when you're in doubt, simple as that. Binance is a good exchanger, I must say that, but it is important to always know how much you're willing to risk by trusting them on your funds, because everything might gone wrong, that's why don't get too comfy about your funds are safe in any exchange, because it's not.

[OcTradism]

FUD(s) are just rumors if they don't have proofs, and don't store your money in an exchange no matter what, especially when you're in doubt, simple as that. Binance is a good exchanger, I must say that, but it is important to always know how much you're willing to risk by trusting them on your funds, because everything might gone wrong, that's why don't get too comfy about your funds are safe in any exchange, because it's not.

FUD is an abbreviation of Fear - Uncertainty - Doubt. It can be a real news or a fake news but if that news can cause either fear, uncertainty, doubt in news receivers, it's fud.

Binance have very large storage of stable coins, a largest part, among all cryptocurrency exchanges at this moment. Their storage including customer money, is very bigger than other exchanges. Any problem with Binance treasury will cause a super terrible collapse of not only Binance, but also all cryptocurrency market.

From Binance audit, it seems they are fine regardless of their audit report was cooked which I don't believe they and Mazars did it.

[Kelvinid]

FUD(s) are just rumors if they don't have proofs, and don't store your money in an exchange no matter what, especially when you're in doubt, simple as that. Binance is a good exchanger, I must say that, but it is important to always know how much you're willing to risk by trusting them on your funds, because everything might gone wrong, that's why don't get too comfy about your funds are safe in any exchange, because it's not.

FUD is an abbreviation of Fear - Uncertainty - Doubt. It can be a real news or a fake news but if that news can cause either fear, uncertainty, doubt in news receivers, it's fud.

Binance have very large storage of stable coins, a largest part, among all cryptocurrency exchanges at this moment. Their storage including customer money, is very bigger than other exchanges. Any problem with Binance treasury will cause a super terrible collapse of not only Binance, but also all cryptocurrency market.

From Binance audit, it seems they are fine regardless of their audit report was cooked which I don't believe they and Mazars did it.

Then we can say that whatever happened to this exchange will have a huge impact on the crypto industry and could possibly ruin everything. If their Binance audit is true with their records, maybe we can say that we are safe but still, it is a need for us to be careful. I'd see the safest way is to keep our coins in our controlled wallet. 

FUDs are sometimes created to ruin someone who has a good market reputation but sometimes also this will help us to assess if that exchange(s) can really be trusted or not.
https://beincrypto.com/binance-failure-would-cripple-crypto-industry-but-users-back-cz-despite-fud/

[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.

[len01]

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.