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Yes. Binance cannot be "fucked" by any meaning of the word. CZ claim they store customers' assets one to one. Either this is true, and they're safe, or it's not
by bambax 4y ago
Yes. Binance cannot be "fucked" by any meaning of the word. CZ claim they store customers' assets one to one. Either this is true, and they're safe, or it's not true, and they're engaging in the same fraud as FTX.
But if they're a fraud, they won't be "fucked" until 1/ they're exposed (some evidence of the fraud is posted somewhere), and 2/ people believe it, and there's a run, and they collapse because of the fraud -- since without the fraud, a run should not cause a collapse.
A simple rise in withdrawals isn't enough to announce their demise.
- soco 4y agoBy this definition, they cannot be "fucked" in any situation - only their customers could get "fucked".
- bambax 4y agoYeah my comment is unclear. I mean they can't be presently fucked. They may become fucked in the future, if it turns out they were engaging in fraud. But for that to happen, some kind of evidence should be provided, and none has shown up yet.