Seo Captain
Elite Member
- Jun 16, 2022
- 2,104
- 587
We already saw this problem with second biggest exchange. Can this be possible with binance also?
Can binance also face problem of sufficient funds in future?
- Thread starter Seo Captain
- Start date
- May 30, 2019
- 13,467
- 10,662
Binance recently tweeted out their entire stablecoin reserve
I think it's the only exchange that will survive this bear market
I think it's the only exchange that will survive this bear market
- Sep 7, 2017
- 7,187
- 6,435
If Binance ever falls victim to any of these, it would affect so many people that it'll take very long for crypto to get to this stage again. Binance is essentially too big to fail at this point.
Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
Always remember; not your keys, not your crypto. No one is too big to fail. However binance does seem solidly in control of its business at this time - but so did FTx until just recently. I only use binance for conversions and p2p transactions that last no longer than 10 minutes or so, after which my binance account is empty again.If you are into futures or other trading then I guess you have no choice but to leave funds in the exchange.
- Oct 30, 2020
- 2,294
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No.
The US goverment and Europe are ALL OVER BINANCE because you forget, the founder is from China
Cryptos biggest game player being Chinese and having to be a part of the China 'state' , is giving so much power .... people dont even realize and this is helping destabilize US/Western European dominance
Hence CZ not liking FTX politcing with the Gov't
They have to run that ship tight............ period.
The US goverment and Europe are ALL OVER BINANCE because you forget, the founder is from China
Cryptos biggest game player being Chinese and having to be a part of the China 'state' , is giving so much power .... people dont even realize and this is helping destabilize US/Western European dominance
Hence CZ not liking FTX politcing with the Gov't
They have to run that ship tight............ period.
- Feb 11, 2021
- 650
- 173
They tried to revive ftx but failed. I think this can be possible. CRYPTO is very unpredictable.
- Nov 9, 2020
- 4,573
- 2,672
Whether it survives or not, But if you are holding crypto for long term just make sure to store it in cold wallets and no exchanges at all, Less chances of losing your funds and getting hacked too.
Cypherpunk Zero #4027
Regular Member
- Aug 28, 2022
- 230
- 103
There was a famous quote: "Exchanges should be like a public bathroom. You enter, do your business and get out. Don't stay there"
As long as it's not a public smart contract there is no way to know if your funds are safe on Binance
As long as it's not a public smart contract there is no way to know if your funds are safe on Binance
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
Binance, Tether and the big (crypto) whales are all in one gang and due to their joint gang "operation(s)", neither Binance will ever have insufficient funds, nor will USDT ever lose it's peg to the US Dollar. Let me explain (*****)...
Binance may face issues due to regulatory aspects, that is another story, here I am very specifically talking about whether Binance would ever face an issue of insufficient funds.
US Dollar may collapse and lose value, that is another story, here I am I am very specifically talking about USDT remaining PEGGED to the US Dollar.
(*****) :::::: As we all know, Tether "prints" (out of thin air) trillions of USDT as and when it wishes. This USDT which costs Tether nothing and is printed out of thin air, very regularly, is sold at a very highly discounted price, to exchanges such as nowadays mainly Binance. So, Binance on a regular basis buys USDT from Tether at very highly discounted price. And Binance is in collaboration with the big (crypto) whales, to use these cheaply acquired USDT to manipulate the price of Bitcoin,with the motto and objective of LIQUIDATING trades (both long trades and short trades). Because when trades are liquidated, Binance makes a huge load of money (profits). And Binance in collaboration with the big (crypto) whales do this in upto hundreds of millions of US Dollars on a daily basis.
Now, in order to maximize their gang's profits, the big (crypto) whales trade in a way to create regular "fake outs" in Bitcoin's price, on a regular basis, so that traders get fooled and then the big (crypto) whales reverse the "scene" with Bitcoin price in order to get maximum trades liquidated. This is why 90+% of crypto traders lose money, because like fools they go by technical analysis & fundamental analysis, not knowing that Bitcoin's price is manipulated by the big (crypto) whales. (Ofcourse, the fundamental aspect also sometimes affects Bitcoin price by a few %).
So, having explained that, Binance able to acquire USDT at highly discounted prices from Tether would almost never render Binance to have insufficient funds. And Tether able to and infact always "printing" USDT freely "out of thin" air, makes Tether being able to "pull" or "push" USDT in a way that it remains pegged to the US Dollar.
I do understand that most people would say that what I have mentioned is a type of conspiracy theory, however those who have awareness of what I have mentioned, are the <10% of the overall of crypto traders who are making profits. In other words, these <10% of the overall of crypto traders do not follow any technical / fundamental analysis, but they follow and understand the "fake outs" created by the big (crypto) whales & trade accordingly.
(@MV3 , what do you think about everything that I've mentioned ?)
Binance may face issues due to regulatory aspects, that is another story, here I am very specifically talking about whether Binance would ever face an issue of insufficient funds.
US Dollar may collapse and lose value, that is another story, here I am I am very specifically talking about USDT remaining PEGGED to the US Dollar.
(*****) :::::: As we all know, Tether "prints" (out of thin air) trillions of USDT as and when it wishes. This USDT which costs Tether nothing and is printed out of thin air, very regularly, is sold at a very highly discounted price, to exchanges such as nowadays mainly Binance. So, Binance on a regular basis buys USDT from Tether at very highly discounted price. And Binance is in collaboration with the big (crypto) whales, to use these cheaply acquired USDT to manipulate the price of Bitcoin,with the motto and objective of LIQUIDATING trades (both long trades and short trades). Because when trades are liquidated, Binance makes a huge load of money (profits). And Binance in collaboration with the big (crypto) whales do this in upto hundreds of millions of US Dollars on a daily basis.
Now, in order to maximize their gang's profits, the big (crypto) whales trade in a way to create regular "fake outs" in Bitcoin's price, on a regular basis, so that traders get fooled and then the big (crypto) whales reverse the "scene" with Bitcoin price in order to get maximum trades liquidated. This is why 90+% of crypto traders lose money, because like fools they go by technical analysis & fundamental analysis, not knowing that Bitcoin's price is manipulated by the big (crypto) whales. (Ofcourse, the fundamental aspect also sometimes affects Bitcoin price by a few %).
So, having explained that, Binance able to acquire USDT at highly discounted prices from Tether would almost never render Binance to have insufficient funds. And Tether able to and infact always "printing" USDT freely "out of thin" air, makes Tether being able to "pull" or "push" USDT in a way that it remains pegged to the US Dollar.
I do understand that most people would say that what I have mentioned is a type of conspiracy theory, however those who have awareness of what I have mentioned, are the <10% of the overall of crypto traders who are making profits. In other words, these <10% of the overall of crypto traders do not follow any technical / fundamental analysis, but they follow and understand the "fake outs" created by the big (crypto) whales & trade accordingly.
(@MV3 , what do you think about everything that I've mentioned ?)
Last edited:
dimitriscy
Junior Member
- Feb 9, 2015
- 147
- 58
thats it a guy who knows what hes talking about!! would like to have a chat with you! check ur dm
- Oct 30, 2020
- 2,294
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Chris Newman
BANNED
- Oct 13, 2018
- 6,868
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In the stock market, stocks (shares) cannot just be created out of thin air, because that is always centrally regulated in every country. Example, in the US, it is Securities and Exchange Commission (SEC), in India it is Securities and Exchange Board of India (SEBI).
In crypto however, the mechanisms are both centralized and decentralized. Tether is a centralized crypto, whereas Bitcoin is decentralized IN TERMS OF Bitcoin not being linked to any real-world entity and USDT is issued by a centralized entity (Tether). USDT is not mined and it is not decentralized in nature. It has an entity, the company Tether, that issues (mints) and destroys (burns) USDT tokens to adjust the supply of coins to user demand.
In the case of some "algorithmic" stablecoins, for example Tron’s USDD, keep the exchange rate or "price" is maintained with trading incentives and the automatic minting & burning of their respective tokens with the help of a twin token which absorbs any volatility without the need of any outside reserve asset.
However, USDT does not operate that way and this is because in Tether, it is not an algorithm that decides when to burn or mint tokens according to demand. Tether has the ability to simply print USDT.
- Mar 21, 2013
- 24,789
- 31,567
Their biggest risk is regulatory IMO
But so far they've been pretty responsible
CZ has become friends with the biggest bankers tho
I don't think there's any prejudice about him being Chinese
If this were the case, Tether would depeg from USD. It's been stress tested this entire year and every withdrawal went through, which means they don't print out of thin air.
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
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All the HUNDREDS of crypto expert's & hundreds of popular crypto related websites are wrong ? https://m.investing.com/news/cryptocurrency-news/still-ticking-tether-prints-money-out-of-thin-air-2517171?ampMode=1
And transactions on the TRON blockchain (protocol) are inaccurate ?
- Oct 30, 2020
- 2,294
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they will always practice nationalism.
francdotexe
Banned - Selling via PM
- Mar 3, 2022
- 72
- 17
i doubt it theyre too big , having said that, i did remove some of m funds out of binance
airtman
Power Member
- Sep 18, 2017
- 579
- 344
Binance is the biggest exchange, but also in a bearish market. If they hold on too tight nothing will happen to them, however their coins are not plunging too deep. If something like this ever happen to binance, bitcoin won't survive the bear market for a long period.
francdotexe
Banned - Selling via PM
- Mar 3, 2022
- 72
- 17
yea true if binance collapses its fucked
- Mar 21, 2013
- 24,789
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