CC#32 // Hate Binance.

We have created our own idol and now we see our wallets turning red.

June 10, 2023

Binance has both positive and negative aspects.

We have created our own idol and now we see our wallets turning red.

Binance is undoubtedly the most convenient crypto project, but it's bad because in the pursuit of fame and dominance, the project has forgotten the rules of the game. Binance could and should have worked with maximum influence in the United States, adhering to all the regulations, and employing a team of lobbyists.

There is an impression that Binance is not staffed by professionals. Just look at the number of scandals involving Binance in recent months.

  1. The BUSD stablecoin was not fully backed by dollars due to the actions of company employees.

  2. Binance has not disclosed its crypto reserves.

  3. Binance mixed customer funds and its own reserves in one wallet.

  4. Binance ruined the FTX deal (initially claiming it would acquire the company, then realizing it would face an audit by U.S. authorities and backing out).

All of this happened due to the incompetence of the company's management.

We can expect many more scandals related to Binance, or more specifically, their appalling leadership:

  1. Binance will be stripped of its market monopoly, forcing them to split their business into local markets and preventing them from acquiring other companies.

  2. Binance will be investigated for compliance with sanctions.

  3. Binance will be scrutinized as a means of money laundering.

The saddest part is that Binance is quick to abandon projects (delisting projects like Solana and Cardano), despite claiming to support the industry. But we see that it's not the case.

Run away from Binance.

Invest in Bitcoin and wait for the next Bitcoin halving.

Curated Fact:

+12,612,840 new bitcoin addresses connected to the blockchain last month.

Curated Spoiler:

Qualified professionals from developed countries will cease working at Binance due to ethical considerations. Binance will begin hiring developers and other employees from third-world countries.

Curated Memes:

Curated News:

Curated Tips:

Buy Bitcoin.

Curated Idea:

A service where you can receive cash back in shit meme tokens when crypto is down