/biz/ - Business & Finance

>How does it even afford to pay the staff and keep the lights on?
They raised enough money to keep the lights on for at least a year. A better question is how incompetent do you need to be to lose money as an exchange in this market? And yet most of them still do. Crypto is a joke.

>>50269872
>>50269719
Reminder that they have more funds now than they ever had and are hiring more than they ever did.

>>50269719
same reason the threads always have the same small handful of posters lol

>>50269719
>borrow money against XCM
>get margin called if drops below a certain value
>instate price floor
>credibility completely lost
>hold out for as long as you can
>???
>profit?

>>50269954
>>borrow money against XCM
Ah yes XCM the currency that every bank accepts, thanks retard

>>50269882
It's over.

>>50270139
Why is it over?

>>50269882

It has 500k to 1 volume a day. How

>>50270298
because, few understand?

>>50270298
No it doesnt
It had less than 100k on many days last month
They ramped up the marketing so there were a few days of 1 million. But things are looking grim.
Hire more HR roasties, oliver getting stroke in TG chat, kevin and him just insulting people, doesnt look good coinmetrannies

>>50269964
In the last year or two people have been able to use crypto wallets as part of their assets to qualify for mortgages and such at some banks. I know it's surprising, and pretty ridiculous, but apparently it happens sometimes.

>>50270492
my guy xcm is not going to be accepted by banks

>>50270325
>Hire more HR roasties
it's over

>>50270501
Source? Its look like aho girl but with pretty fm

>>50270530
Quintessential Quintuplets

>>50270325

1mm volume.
0.1% fee
1k usd they made. Makers receive money so its even less.
How do they keep the lights on?
Is kevin just some 2008 mega btc whale and this is all a fun gig he funds or what?

>>50270501
Some creative accounting adding it to the balance sheet of a company(crypto exchange) perhaps.
Honestly I'm here thinking of any possible reason someone would do something so stupid that completely ruins the value proposition and tarnishes the reputation of the exchange.
It's like if he didn't have some kind of financial life or death situation for the company in relation to keeping the paper price of the token at a certain level, who in their right mind would willingly ruin everything just for a vanity number?
Exchanges are a high trust business. At this point even depositing without touching the token seems risky as fuck.

>>50270571
You seem to have lost trust in cm, have you considered withdrawing all your funds and using another exchange? You should do it.

Whats so hard about fucking advertising and onboarding users for fuck sake?
I do not understand how it can be this small after 4 years.
Why not integrate with Defi(non ponzi ones) more?

I dont even understand the niche of Coinmetro other than low fees.

>only 22 xcm and 0.01 eth on the uni pool

>>50270535
Thanks
>harem
eeeh

>>50270649
Go on provide liquidity

>>50270646
>I dont even understand the niche of Coinmetro
Trust, you know, one of those tiny niches.

Can you name one other exchange you would trust?

>>50270677
Honestly I would if I had any idea how uni works. Apparently I can't set a price and have to settle for the ratio thats already being used.

>>50270690
>best support in the world
Yeah, thats because people have problems at CM all the time
Ive never had any problems on binance, huobi, kraken et.al.

>>50270769
Who said support you fucking froot loop

>>50270778
The only thing you can trust coinmetrannies is that they WILL fuck up and you ARE going to have problems

>>50270787
Name another exchange you trust with your funds.

>>50270794
Binance
Funds are safu

>>50270799
https://www.coindesk.com/markets/2022/06/12/binance-ceo-changpeng-zhao-questions-sec-investigation-into-bnb/
https://cointelegraph.com/news/bad-day-for-binance-with-sec-investigation-and-reuters-expose
https://www.reuters.com/investigates/special-report/fintech-crypto-binance-dirtymoney

>>50270810
>load ze sec fud
Yeah, whatever. At least you can actually trade on binance
Because its an exchange
While coometro is just a failed staking syndicate
How are those trams working out for you?

>>50270690

Thats the worst possible niche when someone like Defi and Chainlink exist to capture a trustless future.
People will always trust big brands more when it comes to anything they have to trust

>>50270845
So can you trust binance with your funds or not?
>>50270934
Call me when chainlink invented trustless fiat on and off ramps

>People will always trust big brands more
Then isn't it weird that people trust some random tiny exchange more than the biggest exchanges in the world?

>>50271049
I can. And i do and i did. I also will.
Now you answer my question, i already answered your twice

>>50271049
>Then isn't it weird that people trust some random tiny exchange more than the biggest exchanges in the world?
Who does? You? Who else? There are always gonna be weirdos and retards in this world

>>50271374
I think the retard is the person who trust a chink exchange who is being investigated by the SEC and is known for fucking over clients, but aight

>>50271471
>known for fucking over clients
ok
>60c
add another one to the list

I like Kevin and Coinmetro but it's literally impossible to defend the 60c floor, it'd be even worse if he removed it. I think he should bite the bullet and buy xcm at 60c

>>50271897
>I think he should bite the bullet and buy xcm at 60c
Only thing he can do to salvage it all. But there's like no way that's happening. Would love to be proven wrong though.
I don't think it would be worse if he removed it though. Just admit it was a mistake and take the hit. Leaving it is a death sentence.

>>50272414
>>50271897
It's not going to get removed guys, the only reason why people arent buying right now is because people like you think it's going to get removed ever, it's not

>crickets

>>50273038
>120 euros in margin fees and counting

>>50273096
Thanks for playing.

>>50272453
The longer they take to find a solution for people wanting to sell, more the sellers will get upset. The 100m staked xcm ceiling is about to be hit so people won't have shit to do with their xcm

>>50274507
He's patiently waiting and hoping that Sam comes to bail him out.