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Honestly, I think this is a really dumb move by Binance. They have taken a look under the hood, determined that FTX is bankrupt and then told everyone that is
by woeirua 4y ago
Honestly, I think this is a really dumb move by Binance. They have taken a look under the hood, determined that FTX is bankrupt and then told everyone that is the case. Now there's going to be a widespread crypto panic that is going to cause other exchanges to collapse, and ultimately I expect Binance too will go down.
- infotogivenm 4y agoDumb? It would be shockingly out-of-character if Binance isn’t utilizing strategies to make fat, fat stacks here.
- rippercushions 4y agoDon't shoot the messenger: the actual problem is that FTX is insolvent, and that would have come to light sooner or later anyway.
- colinmhayes 4y agoBinance loans customer funds too… maybe not to themselves but it could still come crumbling down
- shawabawa3 4y agoBinance only loans customer funds if you opt in to a yield product (I hope, who knows)
- dorkwood 4y agoBinance is in a good position since they now know who to short.