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Basically if you want to keep your money in a regulated institution, don’t use a crypto exchange. You can be your own bank or just sell the crypto and buy some
by coffeebeqn 4y ago
Basically if you want to keep your money in a regulated institution, don’t use a crypto exchange. You can be your own bank or just sell the crypto and buy some funds where you know some basic facts about where your money is and who can touch it.
I can’t imagine why anyone would risk keeping their assets in binance. Do you know basic facts like which jurisdiction in the world they are even based in?
Optimistically it sounds like a 50% chance they are actually fine and 50% chance they’re on the path of FTX. Big risk with no reward other than minor convenience
- hgsgm 4y agoCoinbase and Gemini are regulated USA exchanges. Gemini had been fined for violating regulations. (Gemini Earn was a third-party fraudulent investment product, enabled by Gemini company. FTX was a fly-by-night international exchange like Binance. I don't understand FTX.us . It was US regulated? Did people lose money in FTX.us exchange?