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Speaking as someone who doesn't have any skin in the game. Just because to the best of our knowledge, Binance is fully solvent and can make all US depositors w
by acyou 3y ago
Speaking as someone who doesn't have any skin in the game.
Just because to the best of our knowledge, Binance is fully solvent and can make all US depositors whole, doesn't mean that they won't declare bankruptcy imminently. That's a condition that could change at any time, as has been well demonstrated.
I have a feeling Binance would also look a lot more like a ponzi scheme under subpoena with their asset values gone to zero, no?
- marcell 3y agoDo you have any reason to believe this? There are dozens of crypto exchanges, and most of the major ones have not become insolvent. FTX and MtGox are the only major ones to become insolvent and lose user funds. The top ones like Kraken and Coinbase and Binance have been operating without issue for many years.