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/biz/ - Business & Finance

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52325300 No.52325300 [Reply] [Original]

CZ just increses the SAFU fund to 1 Billion USD """"""""equivalent"""""""""":

700M of his own printed fake money BNB (lol) and BUSD
300M of BTC

So the chink thinks it's a good idea to have fake, super volatile, internet money as his safe fund, instead of having fiat.
Is like your bank said, hey, your money is safe here, we print our own fake internet money and have it as a safe fund in case of emergencies.

If people start taking money out of Binance and the price of BNB, BUSD and BTC drop, Binance will go down just like FTX.

Binance is not safe at all

>> No.52325322

>>52325300

do you even know what the safu fund is you retard

>> No.52325351

>>52325300
just take the L you kike

>> No.52325357

>SAFU
the "down with the memerinos" thing is pretty cringe desu

>> No.52325381

>>52325357
Kys reddit

>> No.52325418

>>52325381
I hold BNB, I'm just saying

>> No.52325419
File: 206 KB, 2132x552, deflationary.png [View same] [iqdb] [saucenao] [google]
52325419

all leveraged to the tits guarantuees. Binance is falling next and everyone is going to say, didnt expect it
all those Beth, who is going to pay for it.

and three bot replies lol
>>52325322
>>52325351
>>52325357

>> No.52325433
File: 32 KB, 442x446, 1649903032689.jpg [View same] [iqdb] [saucenao] [google]
52325433

>>52325300
binance is the next to go
and coinbase boomers will reign supreme

>> No.52325441

Binance has a hundred times more credibility than FTX. That said not your keys not your coins and that goes for any exchange, it's literally the entire point of Satoshi's invention.

>> No.52325456

>>52325300
he is going to have to throw a lot more crypto at the SAFU fund after the dump he caused today

>> No.52325485

>>52325419
im not a bot nigger, kys

>> No.52325486

>>52325300
Hmm no? Safu is not backed by bnb or busd

>> No.52325493

I DREAMED UP ALL THIS MONOPOLY MONEY AND NOW IT HOLDS UP MY DREAMS

>> No.52325505

>>52325322
It's fake internet money used to cover any losses of Binance. They don't even have 1$ of real money in it.

>> No.52325529

>>52325485
Wow these bots are getting uppity

>> No.52325580
File: 305 KB, 2214x1217, not so safu.jpg [View same] [iqdb] [saucenao] [google]
52325580

>>52325486
Lol, yes it is

Safu is not so safu

>> No.52325591

I actually trust goybase more that any of them. It’s the only place I would trust a million dollars or something

>> No.52325605

>>52325300
because he buys USD treasuries
OP is a faggot btw

>> No.52325606

>>52325300
What brought FTX and Alameda down was that they had borrowed billions of dollars against worthless FTT. And when FTT fell below $22 they were margin called on those loans. That is not the case with Binance, you dolt

>> No.52325665

>>52325605
Can you read? >>52325580

>> No.52325745

Think about the guys that have most of their net worth in kucoin right now kek

>> No.52325907

>>52325300
>celsius was a ponzi, but ftx is legit
>ftx was a fradulent, but binance is secure
>cz was a compulsive liar, but coinbase is fully audited
>okay the crypto exchanges all failed, that's why we need fedcoin

>> No.52325964

>>52325606
What killed them is chang spreading lies and investors taking the bait retard.

>> No.52325969

>>52325300
>instead of fiat
Yeah that's the point retard

>> No.52326019

>>52325591
This

>> No.52326111

>>52325964

No if they didn’t borrow money they couldn’t be wrecked simple as. The fees of these exchanges are outrageously high they really are greedy niggers and they deserve it

>> No.52326362

>>52325505
Uninformed tard

>> No.52326467

>>52325907
This

>> No.52326525

>>52325300
Only 1 billion? Didn't the FTX bankrun cause 1.5 billion over 2 weeks? Isn't binance like 10x larger than FTX? The numbers don't add up. I would cash out just to be safe.

>> No.52326577

>>52325300
So many sheklesteins doing damage control on this board for sbf lmfao, busd is unironically safer than usdt and usdc

>> No.52326667

>>52326362
You seem like the uninformed one

>> No.52326705

>>52326525
FTX took loans against their own shitcoin, I don’t think CZ is doing that

>> No.52326740

>>52326705
how do you know? are you certain?

>> No.52326799

>>52325300
Binance will eventually collapse, but don't know if it will be because of this.

>> No.52326820

>>52325351
they literally cannot stop seething over this

>> No.52326925

>>52326525
safu is not user deposits, it's protection money in case of hacks and liquidations in futures

>> No.52326970

I thought the point of crypto is to replace fiat, not to have exactly as much fiat as you have crypto.

What's the point then?

>> No.52326978

>>52326740
they operate from the cayman islands and have been in business for 5 years (about the lifespan of a goldfish in a bowl), i'm sure all the necessary safeguards are in place

>> No.52327028

Hopefully nobody is keeping any real money on these exchanges. FTX set off a contagion. Nobody in crypto is going to be safe. The only winning move right now is to not play.

>> No.52327082

>>52325907
Big brain.

>> No.52327101

>>52326705
Even if they aren't, it's all built on a house of cards. Impermanent loss is about to destroy maybe every exchange as people start to panic. People were putting in money when BTC was $60k, other people sold and withdrew. What's left now is a bunch of bagholders and these exchange tokens like FTT and BNB that most haven't realized are worthless. It's like a cardboard cutout of a pile of cash.

>> No.52327110

>>52325433
This seams like a U.S. vs chins proxie crypto finance war

>> No.52327961

BTC maxis jealous that BNB is holding stronger than bitcoin or ETH

>> No.52328175

>>52325907
chainlink proof of reserve & fiat reserves.

also dexs which allow you to keep your crypto via keys.

its not that fucking hard. stop giving these subpar scamsites your goddamn money. they ALL use it to kike us... and ater they kike the price of your crypto, then they go banrupt and kike you out of withdrawing.

seriously. its fucking stupid.