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How do you know Binance hasn't stolen anyone's money? Is there a reputable auditor's statement to that effect? Seems very unlikely when Binance pretends they're

by pavlov 3y ago

How do you know Binance hasn't stolen anyone's money? Is there a reputable auditor's statement to that effect? Seems very unlikely when Binance pretends they're not even headquartered in any jurisdiction. Nobody has any idea about Binance's actual money flows and where customer funds have actually ended up.

marcell 3y ago
> How do you know Binance hasn't stolen anyone's money? In America you are presumed innocent until proven guilty. Therefore, under our legal system, Binance.US is presumed to not have stolen anyone's money until the SEC passes the burden of proving guilt beyond a reasonable doubt.
- JumpCrisscross 3y ago
  > Binance.US is presumed to not have stolen anyone's money until the SEC passes the burden of proving guilt beyond a reasonable doubt These aren’t criminal charges. The standard is preponderance of evidence.
x3sphere 3y ago
We don't. But by the same token, these are just allegations so far. It is interesting however, the SEC purportedly has tons of evidence of wrongdoing at these exchanges but completely missed FTX which was a massive fraud. Color me skeptical, it's almost like they are saving face for missing FTX. FTX was even regulated to some extent -- I remember you were able to buy tokenized versions of US stocks on there.
- deleted 3y ago
  [deleted]
rawoke083600 3y ago
Honestly, they probably are making more money being the market leader than trying to steal money.
- pavlov 3y ago
  That's what everyone thought about FTX too. "Why wouldn't they be legit, they're hanging out with members of Congress and obviously making a lot of money."
  - rawoke083600 3y ago
    Those are very different reasons in my opinion.
chaosbolt 3y ago
"How do we know that..." "...is there a Snopes fact checked source?..." I'm honestly finding it more and more difficult to believe there are actual biological people who think and talk this way...

by pavlov 3y ago

marcell 3y ago

> How do you know Binance hasn't stolen anyone's money? In America you are presumed innocent until proven guilty. Therefore, under our legal system, Binance.US is presumed to not have stolen anyone's money until the SEC passes the burden of proving guilt beyond a reasonable doubt.

JumpCrisscross 3y ago
> Binance.US is presumed to not have stolen anyone's money until the SEC passes the burden of proving guilt beyond a reasonable doubt These aren’t criminal charges. The standard is preponderance of evidence.

x3sphere 3y ago

We don't. But by the same token, these are just allegations so far. It is interesting however, the SEC purportedly has tons of evidence of wrongdoing at these exchanges but completely missed FTX which was a massive fraud. Color me skeptical, it's almost like they are saving face for missing FTX. FTX was even regulated to some extent -- I remember you were able to buy tokenized versions of US stocks on there.

deleted 3y ago
[deleted]

rawoke083600 3y ago

Honestly, they probably are making more money being the market leader than trying to steal money.

pavlov 3y ago
That's what everyone thought about FTX too. "Why wouldn't they be legit, they're hanging out with members of Congress and obviously making a lot of money."
- rawoke083600 3y ago
  Those are very different reasons in my opinion.

chaosbolt 3y ago

"How do we know that..." "...is there a Snopes fact checked source?..." I'm honestly finding it more and more difficult to believe there are actual biological people who think and talk this way...