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/biz/ - Business & Finance

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53420571 No.53420571 [Reply] [Original]

Binance is freezing accounts when there is a large outflow of tokens pointing to large liquidity issues. A U.S. Securities and Exchange Commission (SEC) regulator, said that Binance’s recent “proof of reserves” report is how he defines a “red flag.”

>> No.53420779
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53420779

k, wake me up when something happens

>> No.53420803

Man knocking over the FTX honeypot really stirred up the bees, didn't it.

>> No.53420931

The good thing with blockchain is that once a shady big player is in the red there is no possible bailout, they are fucked and they will stay fucked. They can try to present themselves as if everything is going smoothly, but once they are liquidated that's literally it, no way to go back.

Now imagine the equivalent of a big player like FTX or Celsius existing in the TradFi market, they would still exist to this day and be bailed out 50 times if needed. With blockchain, all bad players get flushed out in the long term, a much more efficient market which cleanses itself naturally with time.

>> No.53420947

>>53420571
Is this Binance chinese or Binance mutt?

>> No.53421402

>>53420947
chinese

>> No.53421437

>>53420779
Wake up!
I sharded

>> No.53421516

>>53420931
truth>trust

>> No.53421914

>>53420931
The Crypto Space needs a hell of a lot of flushing, that’s for sure. We’re not even halfway done with the dominoes, I reckon.

>> No.53422087

>>53420571
Binance is here to stay. Legion wants it gone because it’s truly decentralized, meaning SEC can’t touch it. That they are admitting past mistakes and ready to correct them is the way forward and everybody here should count their lucky fucking stars because this has had to play out for the bull run to be back on. And it has, and now it is. That’s all I’m giving you for now.

>> No.53422140

>>53422087
How much money do you have in binance?

>> No.53422227

>>53422087
This. Headline made my heart skip a beat but if you read into it this is actually somewhat bullish.

>> No.53422248

>>53422227
Pretty much everything is bullish for crypto, isn’t it?

>> No.53422252
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53422252

>>53422227
>>53422087
>somewhat bullish
Yeah. Ok.

>> No.53422325

>>53422252
mostly about bitzlto
now fuck off, fud nigger
N I G G E R
you got that, brown subhuman? one more time: NIGGER

>> No.53422361

>>53422252
>$90 million transfers
>asks customers for IDs
>“to combat financial crimes.”
I bet this shit worked and at least tens of saps are locked out of their money forever. Just burn it to the fucking ground already.

>> No.53422379

>>53422325
You’re going to lose all your money, and it won’t even be from a binance freeze.

>> No.53422380
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53422380

>>53422325
>how dare you
>this absolutely devastating fud has nothing to do with the other devastating fud that's all strongly pointing to the reality that CZ is fucked
The absolute state of bulls and Chinese agents.

>> No.53422471

>>53420803
sam said he would get back at CZ during the FTT fall

>> No.53422508

>>53422471
Who cares about FTT? These kinds of brokers, with fanciful APYs and empty promises, are doomed to fail, I think.

>> No.53422581

I don't get why people take sides. Both Binance and FTX are money laundering operations. Both are disgusting, screwed over customers, and have set crypto back by years.
This >>53421914 is why bear markets are necessary, children.

>> No.53422639

>>53422361
their funds would be locked until they provided the kyc anyway.

>> No.53422680

>>53422087
>owned and operated by 1 man
>chain is poa validated by 12 of that man’s friends
>truly decentralized
At least try anon

>> No.53422695
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53422695

>>53422639
These fucking shysters need every excuse in the book, pic related.

>>53422581
Exactly, all these platforms need to burn so people can wise up.

>> No.53423194
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53423194

It's impressive how salty these niggers get at the mere existence of Binance.

>> No.53423321

>>53423194
How much money do you have in binance?

>> No.53423653
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53423653

>>53423321
>keeping money on an exchange
$0. I stopped using it when they kicked all the burgers out of the original Binance in anticipation of creating Binance.JewS and I never got around to coming back to it. Many such cases!

>> No.53423704

>>53423653
That’s great, hoping others can follow suit and this next domino can topple over already. But what do you think is the actual next domino?

>> No.53423857

>>53420571
I withdrew all of my crypto from Binance and downloaded my entire Binance transaction history just to be on the safe side. I can't BELIEVE there are anons who regularly post on here but haven't done the same thing, just because "Binance is too big to fail" or "if Binance dies then crypto dies"

>> No.53423896

>>53423704
Hell if I know, man. I think FTX already jostled all of the dominos it was going to jostle and any of those that were going to get knocked over from that would already have fallen. I think any new catastrophe will need a new catalyst.

>> No.53423941

>>53423857
>binance does then crypto dies
Please.

>>53423896
Ok, like what?

>> No.53424016

>>53423704
Well, Gemini and Genesis are already in trouble.
I think we'll just start to see bankruptcies and maybe some more issues with these Literally Who exchanges like that Russian one.
Coinbase probably won't survive. I wouldn't be sad if Robinhood collapsed.
Lot of people don't understand that crypto institutions have the same problem the tech companies that are laying people off do. They're not profitable and when they're not getting near zero interest loans to reinvest, they hemorrhage cash.

>> No.53424064
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53424064

>>53423941
Your guess is as good as mine, Broseph. For me, the whole point of a trustless asset class is I don't need to keep tabs on random niggers. I need a fiat onramp and an exchange to get what I can't from there and I'm golden.

>> No.53425439

>>53424016
Coinbase is definitely going to die at this rate, Robinhood has stocks, so it probably won’t go down anytime soon.

>>53424064
Alright, sounds good