/biz/ - Business & Finance

>>52811323
Its over...

>>52811323
That's good for them though

>>52811323
This is good though?

>>52811323
CRO is so based they are over collaterized

>>52811323
>collateralized 102%
what does that mean?

They have enough assets on hand to cover all deposits but they are at least 9 figures in the red and once their debtors come knocking they will sell their collateral to pay them and leave CROtards with nothing.

>>52811323
where the money go?

>>52811390
You're really reaching bro

>>52811358
The absolute state of /biz/

>>52811889
They fired hundreds of workers and slashed rewards to zero because they are making a profit?

>>52811912
They did that to stay afloat. You're pulling statements about debt out your ass. I hope cdc dies a horrible death along with other CEXes but I hate misinformation and fake FUD even more

Just having user funds on hand you are supposed to hold is breaking news in crypto world.
The absolute state.

what about their shib reserves those are the ones that really matter

>>52811358
kek
it means they have 1:1.02 of what they owe to customers
2% more coins than what customers own

>>52811932
>You're pulling statements about debt out your ass.
No, I look at how much of a loss Coinbase made last year because they made their information public then account for how much more CDC spent on advertising and how much lower their volume is and can see no way they are not hugely in debt.

>>52811968
That's out of your ass bro

>>52811323
1 btc on crypto.com = 1.02 btc!

>>52811979
explain how they could possibly not be running at a huge defecit subsidised by loans? What income stream would be capable of funding their expendature?

>>52812200
Fees, spread and dumping their shitcoin at highs

>>52811912
Stopped using their card when they lowered cashback rates. Went over to Utrust for increasing theirs. It's important that CDC stays afloat, but I'd rather enjoy higher cashback from another platform that already stays afloat without firing any employees.

>>52811414
There was never any "money", this is the world of magic beans. Well, maybe some latecomer bigger fool money but that's negligible.

>>52811350
sell quickly or you'll lose everything retard

>>52812221
that's out of your ass

>>52811350
>>52811340
Are you guys idiots? It means they barely have enough to cover customer deposits and rhey are neck deep in debt.
They don't have money for both. What will happen is that they will need to pay their debt and the collateral will go down down down.
If you have any money there, you need to quickly withdraw before they pause it.

>>52812516
Why would they ever be commingling user fund collateral and operating capital in the first place

>>52811358
jfc, it means they have more assets than user deposits

It means they only have 2% of user deposits available for operating costs and they have million dollar shitty ads on UFC etc. so basically they're about to go bankrupt unless they start stealing user funds. i sold everything an hour ago so im safe and you should too

why would you keep “your” assets on crypto dot com and not just withdraw them onto the Cronos chain for staking at any number of solid dexs

what is wrong with people

>>52812221
There is no chance they are making that much on fees, ZERO

>>52812566
This, if you are doing any loans/staking on here you are retarded gtfo and withdraw to your own wallets.

>>52812569
>staking at any number of solid dexs
Also retarded

Ah yes, this is like the 200th "CDC is fucked" thread I've seen this year, keep fudding my bags boys you're doing great

>>52811358
That they are using user funds to cover their collateral

another dumb fag exchange that was offering results too good to be true, they'll crash within a year

>>52813337
The price dropped 90% this year so yeah they are doing great.

>>52813400
Perfect

>>52811323
Jesus that's a day old.

>>52811912
This made me move my funds from the exchange. Nothing beats having control of your funds. The idea of self regulation by Allianceblock would be something interesting to look out for.

>>52811323
this is FUD, DO NOT WITHDRAW, dont fall for this WEAK shit.

>>52813914
>DO NOT WITHDRAW

fucking KEK this shit is finished

>>52811340
>>52811350
Sell the news

>>52812542
He's assuming they operate like FTX. Must be Sam.

>>52812566
>only have 2% of user deposits available for operating costs
Imagine using client assets to fund operating expenses.

Imagine being so retarded you keep any crypto at all on an exchange

I literally hope all CEX go bankrupt and all users lose their funds

>>52811358
>doesn't know what collateralize means
Your average /biz/ poster

>>52812544
How is that a bad thing?

>>52814691
I've been here for almost 6 years too kek

>>52812566
Thank you for a proper explanation.

>>52812221
If the guy you're going at it with is talking out of his ass you are talking out of your intestines

>>52811946
They are strong in shibs. Good thing the external validators have confidence in it, kek. Collateralized with SHIT.

>>52811358
It means 51% of all their head shots are collaterals.
2 headshots x 51% = 102% collateralized
>All Pro

>>52813914
If they aren't broke then it doesn't matter if you withdraw. You can just deposit it back when things are better
If they are broke then withdrawing is good as you won't lose your funds when they declare bankruptcy.
So either way, the best strategy is to withdraw

I dont think CRO is in trouble but anyone keeping significant amounts of money in a CEX instead of a private wallet deserves to lose it all

>>52811358
i won't shit on you for trying to learn, anon
everyone on this board started somewhere, some with actual business school but most of us like you. keep asking questions and don't be afraid, we're all gonna make it

>>52811323
>CRO CRYPTOCOM IS FUCKED
Who fucked it?

>>52812542
Yeaah why would Kris do that it's not like he has a history of rugging all his customers JUST like that and got off scott free taking EVERY CUSTOMERS DEPOSITS with Ensogo.
I sweat to god CDC defenders are the biggest fucking retards, pay your shills better Kris.

>>52813914
SIR DO NOT REDEEM

>>52812516
>It means they barely have enough to cover customer deposits
>Holding more money than you owe creditors is.. Le bad!

>>52812516
>rhey are neck deep in debt.
To who? At what interest rates or terms? And in what currency/crypto?

Cope and sneed, two more weeks etc

cex that randomly freezes client accounts and spends hundreds of millions on frivolous marketing about to go under, SHOCKING

>>52811889
he's not really though. a company like coca-cola can survive decades in the red because every generation has and will drink that slop. even miners are shutting down in droves now and are looking for handouts, it's that bad. crypto literally scaled on hype and now it can't live up to it. everybody just has their toes in the water with crypto now. honestly, i don't know what to make of it. i don't think anybody does lol. kris probably already has his eye on his next investment outside of crypto. he'll either sell or file for bankruptcy. i just don't see him sticking with anything that has taken such a hit. he's just not the type

>>52811323
CRYPTOCOM? MORE LIKE CRYPTOGONE!

>>52816987

>>52811323
SIRS DO NOT REDDEM NOOOOOOOOOOOOOOO BITCH NIGGER NOO DO NOT REDDEM MOTHER BITCH

>>52814691
i think he means, is 102% bad or good. I feel like below 100% would be really bad, obviously, but I dont know if 102% is good enough - probably isnt, but what does it mean?

>>52811323
just a matter of time before you insolvent cro faggots bend the knee and come over to comfymetro. stake your XCM now or cry later

>>52811390
Idk, wouldnt they get 2% ?

>>52822762
These are the people giving you financial advice on /biz/.

>>52816987

>>52811358
It means they have a lot of debt that they can just about cover if they can raise a small amount of finance. If BTC dumps my further they are fucked though. Would be a power play for whale sto orchestrate a huge dump to liquidate them.

CRO has always been a scam since Monaco, their only value was the crypto.com domain.

>>52816987

kek only on /biz/ will you find people saying 102% collateral is bad

i mean, uhhhhhh, yeah op! They're going into the dirt lmao ngmi

>>52813337
Ma nigga

>>52818040
>In mid 2016, the [board] decided to shut down Ensogo against Kris’s wishes and advice. Kris did not hold a board seat and held a low single digit percentage stake in the business at the time. He resigned in response to the proposed shutdown. The shutdown angered many customers and consumers—one of the reasons Kris was opposed to the decision. There was never a finding of wrongdoing under Kris’s leadership.

>>52822846
>t. literal retard