Are we SAFU?
We didn't want centralization and that's what we're getting.
FTX acquisition could grant Binance control over 80% of global crypto market
(Source).
Yes, that is what we are going to get, a monopolistic situation in which an actor takes over almost the entire crypto market. And all this in a very few years.
Obviously, everything is our fault, we know what BNB is, pure centralization, we know that DeFi on BNB continues to be less centralized, we know that CZ is the great owner of all the tokens running under its blockchain, we know that its futures products are manipulated at will, we know that CZ maintains at least 4 of the top100 BITCOIN wallets, totaling more than 480,000 BTC...
We believe, or at least I believe it, that CZ could be one of the richest men on the planet if he is not the first, taking into account what we know and what we don't...
And now who stops CZ? Well, it seems to me that the answer is more than clear here, the regulators.
And if these regulators get even tougher it is possible that the "decentralized" phenomenon will be stuck forever as if we were talking about a beautiful and utopian anecdote of the opportunity that humans had to obtain a fairer world at a monetary level and also in other areas, but which they missed.
But don't worry, FUNDS ARE SAFU says the good Chinese-Canadian...
I still keep the hope that BITCOIN can still be the escape route to all this shit generated by the greed of some big ones followed by that of ourselves...call me naive if you want
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Well... I trust more i this guy than in elon musk...
If CZ have all his money in crypto, he will nowill not do anything that could damage criptos and him, he would do everything he can to protect his crypto wealth
BITCOIN
??
Funds ARE SAFU, if they are in your personal wallets as they should be... When people learn (probably never) to keep their funds in their wallets, and use decentralized exchanges, the monopoly will die...
agree
You are far from naive on this matter, it is scary at the rate Binance has expanded and keeps expanding.
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I’m happy I’m out of Binance since long
I just use it to get in and out of crypto.
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He's not. He may be one of the richest public figures, but there are bastards way wealthier than him.
Binance is gradually becoming just like the banks. I stopped using it a couple of weeks ago. It's sad crypto doesn't get the proper mass adoption, but it's our fault.
Glad you take this decision
Bitcoin, DOGE, Litecoin, Monero could be our saviors. ETH could become more compromised. Crazy that much is controlled by Binance.
I hodl BTC LTC and XMR since 2017 😂
Certainly all strong pillars!
I don't trust him and I don't really like him having so much control. Maybe Coinbase or one of the other remaining exchanges could get FTX. However, I don't think it will happen as most companies prefer to have cash on hand.
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LOL.
We often don;t get what we want, but instead what we deserve.
What we encourage flourishes and what we discourage dies.
We must choose wisely the Gods we worship.
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