/biz/ - Business & Finance

>>55909586
the crypto industry is so new that its going to look very different in even a few short years
most of the crypto is going to be wiped out, the few remaining will be very significant in the years to come

It's probable, but there's the possibility (((they))) need a face to 'look good' for the space to lean on. And CZ is very recognized

>>55909586
CZ is a chink, therefore he's a scammer. Simple as.

>>55909616
That much is not being questioned. The real issue now is that if Binance fails holy fuck we are getting to 100 bucks ETH and BTC will prob go back to the 10k range.
>>55909622
Maybe blackrock is making their price before the etf is approved, most people will sell their coins cheap. Notice how nobody talks about it anymore.

I don't short BTC only alts (since the whole game here is accumulating sats) but if we close this weekly in the red then the bear trend will be confirmed and I have no idea where the next support level is.

solid as a rock when binance goes it will be the end of cashing in easy

>>55909696
nah bybit is still around

>>55909616

>>55909586
>imagine buying TRX 2.0

>>55909586
Wow a chink scammer, color me surprised. I've only ever had one chinese buyer on ebay, and he tried to scam me! lol! eBay denied his case and he got no money from me when he "didn't recieve the package" even though I used an ebay shipping label with tracking, dumbass chink!

>>55909586
bears are searching

>>55909648
>100 bucks ETH and BTC will prob go back to the 10k range
More like ETH at 1 cent and BTC at 5 cents.

i'm a bear but Binance Fud is just plain retarded.

>>55909586
How is Binance solvent when it doesn't have customer funds? You are either solvent or you aren't.

>>55909586
Did you see the level of open interest in futures before dump happened, ever since we hit 4.4b there is was just waiting to explode
I'd say business as usual
Let's see how long will it take to bounce back to 28k my bet no longer than a week

>>55909586
4.

sam lost

>>55909586
not my problem, I don't store my wealth on binance

>>55909616
Actually and factually the opposite.

>>55910528
whats the word for people who make incorrect statements with confidence?
this board is full of them.

>>55910601
Midwit

>>55910601
>>55910601
jewish

>>55909586
>Binance selling client funds???

https://youtu.be/dJZnxrSNIRY

>>55910401
Good man. CEXs are markets not fucking banks.
>>55910840
It's spreading..

What does it mean to sell customer assets when Binance is both an exchange and a custodian? The coins don't go anywhere when this happens. It just means that buy orders get filled and the price drops. Binance makes a bunch of money and all the crypto is still there.

This is highly illegal and sketchy as fuck, but it doesn't put Binance in a position of insolvency. It just means crypto traders get rekt because the exchange itself is dumping on them.

>>55911307
>It just means crypto traders get rekt because the exchange itself is dumping on them.
All exchanges frontrun their clients that's how it works, crypto or not. The problem is that if they sell client funds and the client's balance doesn't change that means they are running a fractionary-reserve and that's a big fucking no no as it is technical insolvency.

>>55911349
I guess it's possible that they are running some amount of fractional reserve, but their wallets are public and anyone can check to see that they contain tens of billions worth of crypto. Unless there is a massive run on Binance they wouldn't run into any issues.

FTX was selling customer assets, but they didn't share their reserves. When they collapsed it was revealed that they basically had none of the customer assets and the whole operation was a scam. It's hard to say that about Binance because they are transparent enough to know that can't be true.

>>55909586

I think there's a self-perpetuating culture in the west (that just so happens to be majority Zionist and/or Jewish) that commits crimes against humanity at large to further an agenda that they feel supersedes the wants and/or needs of "people" (gentiles). They are so consumed by this that they can only project their zealous nature onto others, and assume that nobody on Earth is capable of demonstrating integrity.

For this reason, CZ gets called a "scamming chink" on 4chan when there is little to no indication that his business is behaving unethically. My personal opinion is that if the powers that be were to crack open and investigate Binance vs any top 10 TradFi institution, the Tradfi institution would receive more in fines and be up to more "no good" activities than Binance and CZ.

It makes the shills absolutely seethe that they backed the wrong horse in the race here in the West and now the East + BRICS will dominate cryptocurrency due to a "leapfrog effect" (similar to how Africans skipped debit card stage and straight to cell phone payments), cheap electricity for Bitcoin mining, and more amicable legislation. All they had to do, was allow Brian Armstrong to develop Coinbase out faster. Unfortunately, Sam Bankman Fried happened to be affiliated with Gary Gensler, who was affiliated with blah blah blah it's all nepotism. It's corny, the wrong guy got the job, and now our whole system looks like dogshit. Plus, the President's son spent all the laundered FTX money on crack and HPV-riddled hookers.

I don't know if you guys remember but I remember when CZ sent cargo ships full of ventilators for Indians during COVID-19 because the governments of the world were too inefficient to get there first. You know if SBF did that he would have been a giant faggot about it all over the NY Post.

Basically, OP is a Kike and samefagging ITT. Everyone knows Funds are Safu. 4.

>>55911489
On chain data shows that they sold over 100M. IMO it's too little but who knows, if they are indeed running a fractional reserve I wouldn't touch it with a 1 mile pole
>>55911763
I denounce the talmud and I hate the antichrist

>>55909648
binance is backed by CCP and they just print money worse then burgers

>>55912390
You have to be a retard to keep anything on Binance or any exchange. Everyone in crypto has been beating people over the head telling them to get their shit off exchanges since the very beginning. If you keep anything on an exchange you deserve to get rekt.

>>55912390
How would this show up onchain? Like I said there is no way to see when Binance dumps on their customers.

>>55912536
Ditto. I have nothing there, the problem is that I owned some BNB but I sold it once I heard about this.
>>55912607
All you have to do is check the average outflow from the Binance wallets and compare. Granted, there's no way to know for sure but (((they))) are attacking Binance with everything they got basically every fiat ramp has been killed rn so Binance is looking for liquidity since a large chunk of their holdings is BNB. Just like FTX and their FTT token, the BNB is just an I owe U.