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I'd bet on Binance just delaying the inevitable collapse, rather than trying to fix the underlying issues. Judging from the FTX balance sheet, they gambled all

by Zanfa 4y ago

I'd bet on Binance just delaying the inevitable collapse, rather than trying to fix the underlying issues. Judging from the FTX balance sheet, they gambled all of their money on shitcoins and random projects without any sense of logic. No amount of fixing would have helped, other than an magical perpetual bull market. Odds are Binance is also fundamentally screwed.

shapefrog 4y ago
IF they never gambled their depositors money, then they are/will be fine. Running an exchange, taking a cut of all transactions on your platform is effectively impossible to collapse (excluding your actual costs of doing business).
- unmole 4y ago
  They can even do proprietary trading using the market information they have!
  - shapefrog 4y ago
    For an unreglated market, it really is a licence to print money - the one and only thing you have to do is keep your depositors assets stored in the asset they have deposited or exchanged to.
  - cuteboy19 4y ago
    What do you mean by can? Frontrunning client trades is standard crypto exchange practice
- JumpCrisscross 4y ago
  > never gambled their depositors money, then they are/will be fine You’re ignoring liability. Even if they never levered, they’re vulnerable to a regulatory crackdown. Tether and Binance are predictable numpties-will-lose-money cases.