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If FTX isn’t crypto, then I guess Binance, Coinbase and Crypto.com aren’t crypto either? Funny how crypto pumpers, when they were looking to sell some NFTs or
by pavlov 4y ago
If FTX isn’t crypto, then I guess Binance, Coinbase and Crypto.com aren’t crypto either?
Funny how crypto pumpers, when they were looking to sell some NFTs or whatever, have been more than happy to promote these exchanges as easy ways for retail investors to get their money into the system. But when the shit hits the fan, now the same crypto pumpers are saying that real crypto is something completely else.
- rahen 4y ago> If FTX isn’t crypto, then I guess Binance, Coinbase and Crypto.com aren’t crypto either? Indeed they're not. "cryptos" are cryptocurrencies, like Bitcoin. FTX and alike are centralized exchanges (CEX). This confusion is like calling banks and Wall Street "the US Dollar". And when Madoff and Lehman Brothers happen, calling out on the USD instead of the fraudsters. The USD allows to do money laundering, fund terrorism and create scams, but that doesn't mean it is a scam itself, or that it should be banned, or that people who use the USD participate in a scam.
- pixl97 4y agoEh, USD is not just the dollar, it is an entire set of systems that include regulations that prevent fraud schemes. The USD without these systems would be the broken joke BTC is currently.
- dmak 4y agoThat's right, they are not crypto. They are exchanges. They operate very similar to stock exchanges except the asset classes they operate around are different. People pointing at crypto's failure right now would be equivalent to TD Ameritrade blowing up and saying stocks failed.