Could the launch of EDX exchange, result in this FUD?

[Cryptomultiplier]

There is so much ongoings in the crypto scene with one of the major exchanges, Binance, for reasons that might see it relinquish some of the power and jurisdiction it has.
Binance U.S, under investigation by the SEC came at a time when the bearish season is speculated.
Rumours and gist on social media has it that same U.S is launching its own cryptocurrency exchange called EDX.

This project might well be one reason why the news on cryptocurrency is hot topic now, mostly as this new launch saw huge amounts poured in by big time investors, Citadel securities,
Charles Schwab and Fidelity Digital Assets.
The EDX exchange set to launch in a few days, is said to allow trading of bitcoin, ether, litecoin and bitcoin cash.

So, this is the heck of the issue which is a cause of the ongoing FUD and truth revealing moments with Binance, Kraken and other exchanges and decentralized platforms that has been under fire lately.

Any thoughts?

Source link: https://twitter.com/bitcoinlfgo/

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[TimeTeller]

Credibility of the exchange is built throughout the years of service.
So you can't tell what kind of performance they will bring to the crypto market up until they are already operational.
Right now, it is too early to tell what's gonna happen. Because it depends on how they will treat their customers.
Binance earned their reputation throughout the years, it is not an overnight task for the trading platform.
We can say, let's see if they will attract customers and offer competitive services. We can't make a conclusion yet as they don't have clients yet in the first place.

[Nwada001]

Any thoughts?

What I see in this is that since they are unable to control the big exchanges, they now think of a solution to create their own, where they won't want to request anything from any exchange owner or have to file any law suit against them. They want to be in total control of the token.

This kind of exchange is what I will definitely advise anyone who wants to be free from control to avoid. It might not be a scam exchange, but we should expect something like everyone being taxed properly, users being closely watched, how you make your deposit being closely watched, and they also keeping records of where you send your crypto and where it goes after that.
This will be another financial system controlled by the government. Whoever cares about their privacy and security will definitely avoid that exchange.

[drwhobox]

Binance gained trust with years working with cryptocurrency. U.S try to control the crypto market with their own exchange which I think they can't. People who value their privacy over anything will not trade on their exchange. It is their policy to control everything out their. Binance is big fish and by stopping its activity they want to take over the u.s crypto market.

[The Cryptovator]

I believe that the recent fear, uncertainty, and doubt (FUD) surrounding Binance has diminished and Binance has come out as the victor in some way. This is because the US court did not agree to halt Binance's operations or freeze its assets; instead, the court ordered negotiations between Binance and the authorities to address certain requirements. In my opinion, this signifies that the FUD has subsided. Additionally, it appears that the market turned bullish following the news about EDX. This positive sentiment is supported by major cryptocurrency news platforms such as Cointelegraph. Overall, I expect a positive outlook for the crypto market.

[franky1]

this EDX is not where the EDX holds the coin/fiat as custodian. nor is it a system for normal users to trade on/deposit into.

they are just the 'market order book' decider and prover of trades between institutions(members) where its the institutions(members) that have custody reserves between each other

after reading the EDX rule book i feel they are going to be using the 'channel routing' system of their own subnetwork of factory channels with each other, that has locked liquidity between each other and using the EDX market order system as the trigger executor of the balance changes within their paired channels

basically using a system thats a liquid network-lightning network hybrid. where the swaps are triggered by a identifier from EDX to trigger the channel swaps (federated factory balance movements)

[tbct_mt2]

I believe that the recent fear, uncertainty, and doubt (FUD) surrounding Binance has diminished and Binance has come out as the victor in some way. This is because the US court did not agree to halt Binance's operations or freeze its assets; instead, the court ordered negotiations between Binance and the authorities to address certain requirements. In my opinion, this signifies that the FUD has subsided.

SEC. and Gensler failed to beat Binance down and it is good for this industry. We are united to fight against Gensler to stop his powerful-biased minds and inaccurate decisions which are not based on valid active legislations.

If he wins against Binance, if he wins against Ripple, on behalf of SEC. as its Chair, it will lead to worse scenario for cryptocurrency industry because it will increase confidence in  Gensler that he can succeed to attack any project with SEC. lawsuits.

Additionally, it appears that the market turned bullish following the news about EDX. This positive sentiment is supported by major cryptocurrency news platforms such as Cointelegraph. Overall, I expect a positive outlook for the crypto market.

It is not a good exchange if we love our privacy but if it is about Compliance, it is a good one as it will not have problems with laws by directly launched and governed by government.

[franky1]

I believe that the recent fear, uncertainty, and doubt (FUD) surrounding Binance has diminished and Binance has come out as the victor in some way. This is because the US court did not agree to halt Binance's operations or freeze its assets; instead, the court ordered negotiations between Binance and the authorities to address certain requirements. In my opinion, this signifies that the FUD has subsided.

SEC. and Gensler failed to beat Binance down and it is good for this industry. We are united to fight against Gensler to stop his powerful-biased minds and inaccurate decisions which are not based on valid active legislations.

If he wins against Binance, if he wins against Ripple, on behalf of SEC. as its Chair, it will lead to worse scenario for cryptocurrency industry because it will increase confidence in  Gensler that he can succeed to attack any project with SEC. lawsuits.

Additionally, it appears that the market turned bullish following the news about EDX. This positive sentiment is supported by major cryptocurrency news platforms such as Cointelegraph. Overall, I expect a positive outlook for the crypto market.

It is not a good exchange if we love our privacy but if it is about Compliance, it is a good one as it will not have problems with laws by directly launched and governed by government.

the EDX does not grab data on individuals.. its a central point for brokers to trade brokers reserves. where by the brokers then have their own customers.. which the brokers have to maintain and monitor

[o48o]

-cut-
The EDX exchange set to launch in a few days, is said to allow trading of bitcoin, ether, litecoin and bitcoin cash.
So, this is the heck of the issue which is a cause of the ongoing FUD and truth revealing moments with Binance, Kraken and other exchanges and decentralized platforms that has been under fire lately.
Any thoughts?

I don't see any issue here, as long as they choose not to trade assets that are classified as securities. Also they are non-custodial exchange so if SEC wanted them down they would need to plan whole new way to attack them.

Source link: https://twitter.com/bitcoinlfgo/

There's no source on that twitter account's home page. So here's one source:
https://www.investopedia.com/schwab-backed-crypto-exchange-edx-goes-live-announces-funding-7550102

Seems like it's well thought out. As long as they follow rules of SEC, everything is going to be ok.

[Dr.Bitcoin_Strange]

The EDX exchange set to launch in a few days, is said to allow trading of bitcoin, ether, litecoin and bitcoin cash.

So, this is the heck of the issue which is a cause of the ongoing FUD and truth revealing moments with Binance, Kraken and other exchanges and decentralized platforms that has been under fire lately.

Any thoughts?

Source link: https://twitter.com/bitcoinlfgo/

Well, if that's what they want to do, then I must say that it's not a welcoming development for me, and I believe they will also be forcing the crypto users of the United States to make sure they use the exchange. It really is not funny that if they want to launch their own crypto or exchange, they will put an end to other successful CEX like Binance, and least of all, citizens should be allowed to use their choice and preferable means of accumulating their Bitcoin or other coins. I am not yet sure, but I know that this their CEX that is planned to be Lounched is going to require KYC, which is just the bigger trap for crypto users in the US (LoL). Users can just wake up one morning and your account is frozen, and you will be asked to make yourself available at the CIA's office the next day. Yea, probably that's what it's going to look like in my guess, even if I am not very correct about it 😬 😃.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

[Cryptomultiplier]

The EDX exchange set to launch in a few days, is said to allow trading of bitcoin, ether, litecoin and bitcoin cash.

So, this is the heck of the issue which is a cause of the ongoing FUD and truth revealing moments with Binance, Kraken and other exchanges and decentralized platforms that has been under fire lately.

Any thoughts?

Source link: https://twitter.com/bitcoinlfgo/

Well, if that's what they want to do, then I must say that it's not a welcoming development for me, and I believe they will also be forcing the crypto users of the United States to make sure they use the exchange. It really is not funny that if they want to launch their own crypto or exchange, they will put an end to other successful CEX like Binance, and least of all, citizens should be allowed to use their choice and preferable means of accumulating their Bitcoin or other coins. I am not yet sure, but I know that this their CEX that is planned to be Lounched is going to require KYC, which is just the bigger trap for crypto users in the US (LoL). Users can just wake up one morning and your account is frozen, and you will be asked to make yourself available at the CIA's office the next day. Yea, probably that's what it's going to look like in my guess, even if I am not very correct about it 😬 😃.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

It is clearly going to be much regulated by government even if they claim in the end to not have any influence over it.
It is one thing to be introduced to an idea like a decentralized system and crypto currency, it is another to want to own it and control the idea like it was ours originally.
That's what the U.S is majorly good for and why most countries now copy their theatrics and use it to control its citizens, like the launch of certain CBDC's by most countries. It failed to exert what the country needed, hence why SEC in the U.S and most other nations are hell bent on latching a control on CEX.

[rhomelmabini]

The best and regulated one? I hope they aren't just fudding Binance just to launch their own exchange, it's literally sounds like it was the case and it looks like they just want to monopolize the market with this. That wasn't a coincidence I guess that after the hot topic with Binance and a heavy regulated exchange like Coinbase there would be a new crypto exchange that will enter the US markets. That suing should probably has a reason.

[GreatArkansas]

EDX exchange is a new exchange and for me, it's still in speculation, it doesn't mean that if an exchange is backed with wall street, it's always 100% positive. I believe there is still some FUD on this launch of the EDX exchange.
For me, in some cases there could be some conflict of interest because it is backed by some large financial institutions, we still don't know.

[killerfrost]

Market volatility and price reaction to good and bad news, issues of regulatory imposition in the crypto environment I find really unclear, it is not easy for any one party to try to make a point of view. to cause suspicion and confusion. In recent years, I see that decentralization in this market has been emphasized more, the creation of CEX to popularize and then people to understand more about centralization will no longer like trading on CEX much, personally I see the last few stories as a comedy, where the SEC tried to cause FUD and now the launch of CEX from the US.

[hugeblack]

If there is one fact, it is that the place from which you heard these rumors is an unreliable source even for rumors and you should ban anyone who promotes such rumors. The United States itself will not launch a cryptocurrency exchange platform, and if it does, that platform will not be decentralized. Those platforms are run by companies, and these companies can be replaced by the bank if cryptocurrencies are regulated. The beneficiary of these rumors is Binance. They have found a peg on which to manage their failure.

[Cryptomultiplier]

If there is one fact, it is that the place from which you heard these rumors is an unreliable source even for rumors and you should ban anyone who promotes such rumors. The United States itself will not launch a cryptocurrency exchange platform, and if it does, that platform will not be decentralized. Those platforms are run by companies, and these companies can be replaced by the bank if cryptocurrencies are regulated. The beneficiary of these rumors is Binance. They have found a peg on which to manage their failure.

It might be infact that this is just a peg. From which side, is what I can't really understand, because the competition in performance just got real.
Binance changed or updated their terms. They want to do better. Other exchanges can witness the lawsuit against Binance and are ironing their sleeves and employing services to resolve congestion issues, huge fee rates and security protocols.  Other exchanges are doing same. The lightening network is an upgrade to this effect.

Such FUD is necessary to affect the market, else how do traders earn big. The whales are moving. We got to brace up for what's to come.
Any plans to monopolize the market would lead to a crash. The competition is healthy and I encourage new exchanges to come up. Unlike shit coins, would such new exchanges like EDX stand the test, like what Binance is facing, and still stand?

[xzotovalex]

The launch of the exchange caused the growth of bitcoin in the short term. But now the dex is trending and people trust decentralized exchanges more than centralized ones.

[SlimShadyMmp]

It seems like a positive new but lets hear what the SEC have to say on this as I really wouldnt just base the bull movement was caused by EDX Coinbase is US and its going offshore Seem stories just different styles Sec will slap then same way as the rest I think best wait and observe how the exchange turns out in and lets hope Gensley doenst kick their hmmh

[goaldigger]

Binance gained trust with years working with cryptocurrency. U.S try to control the crypto market with their own exchange which I think they can't. People who value their privacy over anything will not trade on their exchange. It is their policy to control everything out their. Binance is big fish and by stopping its activity they want to take over the u.s crypto market.

This could be more risky to anyone who will trade on that platform as the government have the full control over your money, no doubt they are attacking CEX so they can get their customers and control their money. If you really want decentralized thing then this one is not for you and you have to think twice before you register know that US government are very strict and they want to control you as well.