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> Most importantly, he let people trade shady shitcoins but never stole customer funds. Can't highlight your "most importantly" enough. At the end of the day,
by hn_throwaway_99 3y ago
> Most importantly, he let people trade shady shitcoins but never stole customer funds.
Can't highlight your "most importantly" enough. At the end of the day, CZ didn't follow regulations, which certainly gave lots of shady characters access to money transfers who otherwise would have been blocked had those regulations been followed. But for everyday joes that just gambled and lost, it's hard to feel much sympathy (especially since plenty have gambled and won). But unlike FTX, Binance didn't flat out commit theft. Do that with enough money and you're screwed.
- nullc 3y ago> But unlike FTX, Binance didn't flat out commit theft. Is that true? I believed they took 'loans' out of customer funds then manipulated the markets to close the holes-- sounds a lot like what FTX was attempting but without being so amphetamine addled that they couldn't pull it off.
- bPspGiJT8Y 3y agoIt is well known that Binance, among many other crimes, runs many internal trading desks which trade against Binance's own customers.