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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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52339961 No.52339961 [Reply] [Original]

>> No.52339990

>CZ created bitcoin

>> No.52339995

>>52339961
>more stables than anything
american schooling...?

>> No.52340005

>>52339990
>58M BNB

>> No.52340008

>>52339961
not sure what you're getting at here.... these are just balances of their holdings, not implying that BUSD/BNB is used for collateral

>> No.52340064

>>52340008
>hello I’d like to withdraw all my money from binance pls
>multiply this by 10 million
>sorry we can only pay you in BNB which has now tanked
This is exactly what happened to SBF so don’t say it’d never happen.

>> No.52340119
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52340119

So in the end i give them real money so they can storage some hash code?
I dont see how if i want my money back this aint collapsing

>> No.52340138

>>52340119
:)

>> No.52340165

>>52340119
Now I wonder if everyone did that to banks

>> No.52340188

>>52340005
>use as collateral

>> No.52340243

>>52340005
that's only 17 billion
he has 8 billion in bitcoin
and 21 billion in busd
safu

>> No.52340244

>>52340188
>HELLO YES ID LIKE TO WITHDRAW ALL MY MONEY PLEASE
>WHAT DO YOU MEAN YOU CAN ONLY PAY ME IN BUSD / BNB?
:)

>> No.52340264

>>52340243
And if people want to withdraw more than he has in non-BNB / BUSD?

>> No.52340288

>>52339961
OP is a fucking brainlet

>> No.52340306

>>52340288
Answer the question moron >>52340264

>> No.52340422

>>52340306
answer this first >>52340165

>> No.52340460

>>52340422
If everyone did that to the banks they would collapse like FTX! Obviously. Now answer mine.

>> No.52340492

>>52340460
What makes you think there's more money to withdraw than what he has in store?

>> No.52340537

>>52340492
If a bank run begins and he has to sell BNB to meet consumer demand, the BNB price will plummet and more people will panic sell. It’ll death spiral in exactly the same way FTX did.
It would be a big event for sure but now (((certain parties))) will want CZ’s blood.

>> No.52340542

>>52340244
That's not what collateral means. You really shouldn't be speaking on things you know nothing about.

>> No.52340554

>>52340537
So everyone will just exit all markets all coins?

>> No.52340583

>>52340542
What exactly do you think happens to your money when you deposit it to Binance? He has obviously spent some of it to pump the BNB price. If you ask for it back he has to sell BNB to return it to you. What aren’t you getting?

>> No.52340615

damn Binance is bigger than i thought, Do they really have like 90-100B in this market conditions?

Next bull run it'll be 1-2T worth company lmao

>> No.52340686

>>52340583
That's baseless speculation.

>> No.52340740

>>52340686
If I had said the same thing about FTX last week you would’ve said “baseless speculation” too. CZ is literally telling you part of their reserves are BNB/BUSD. A bank run would cause a collapse and depeg unless they have the equivalent in bail-out money from friends (SBF didn’t even with his Jew buddies!)

>> No.52340805

>>52340615
Binance will be the biggest company on the planet because they don't cuck out to regulators without a fight, which unironically ends up being good for everyone as they regulate themselves pretty well.

>> No.52342207

>>52340244
kek but busd is actually issued by paxos and not binance