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I'm surprised BNB is only down 4% since Monday's news: https://www.binance.com/en/trade/BNB_USDC?theme=light&type=spot https://www.binance.com/en/trade/BNB_USDC

• latchkey 4y ago
  BNB is the 4th largest marketcap token out there [0] at $49B. The tokenomics around it are pretty sound (it'll eventually be burnt to be a maximum of 100m tokens) [1]. Binance has done a good job of creating a lot of utility around it that extends out beyond just their trading platform. It is also used as gas on the Binance Smart Chain. Owning BNB is as close to owning stock in Binance, as you can get. Binance has been doing KYC for all sorts of politicians, globally, for years now. CZ is not some kid from Stanford living in the Bahamas, who was only printing fake money and pretending to be altruistic. This will end up with a fat settlement, it won't end up with CZ in jail and the market is reflecting that. NFA. [0] https://coinmarketcap.com/ https://coinmarketcap.com/ [1] https://www.binance.com/en/blog/ecosystem/22nd-bnb-burn-8657700843018962092 https://www.binance.com/en/blog/ecosystem/22nd-bnb-burn-8657... Update: I'm getting downvoted, so I guess people are reacting to what I said instead of making a comment about what they see as incorrect. Just some clarity, I'm not some CZ fanboy, nor am I trying to justify Binance. What I'm trying to do is provide a bit of background on why I feel that the price isn't going to zero on this news.
  • stephenitis 4y ago
    Marketcap size of the token doesn't matter at all if the foundations are fraudulent. CZ seems like some dude living to avoid persecution when the house of cards crumbles
    • latchkey 4y ago
      > Marketcap size of the token doesn't matter at all if the foundations are fraudulent. It matters in the context of something like Lehman Brothers, which was $60B. > CZ seems like some dude living to avoid persecution when the house of cards crumbles Persecution by whom? He's Canadian / Chinese, not a US citizen.