Can Binance fall like FTX

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Monroe123

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The concerns regarding crypto exchanges arise from a combination of government scrutiny and the actions of the exchanges themselves. Many governments are implementing stricter regulations, leading to heightened oversight of platforms. Some exchanges have indeed been alleged to engage in unethical practices, such as poor transparency, undefined listing criteria, and hidden fees. This has fostered significant distrust among traders and investors.

For years now binance has been facing lots of allegation of corruption in their system even resulting to the CEO of the company popularly know as CZ going to jail for a while but he was out last year. Recently more report has been surfacing and its not looking good for the company. For me personally I've stopped trading with them for some time now.

The question we should all be asking is it the new CEO that's breaking their regulations and is CZ part of it, no one knows or is it an employee in the development team that doing all this cause it would be sad to see binance fall like FTX
 
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This thing becomes an issue if you hold a large amount of money with these exchanges. Like in India WazirX got allegedly hacked and people lost their funds. Its a huge mess right now. But small amounts one can keep on these exchanges for sure.
 
Not your keys, not your coins, if you're keeping funds on Binance after FTX, you’re playing with fire.
 
shijin said:
Not your keys, not your coins, if you're keeping funds on Binance after FTX, you’re playing with fire.
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I started using Bitget since CZ went to Jail, I can't let what happen to me with FTX happen with Binance
 
Absolutely any organization can fail. No exceptions. It's always a possibility. Coin exchanges can fail, huge banks can fail, huge retail chains can fail, insurance companies can fail, car manufacturers can fail, huge conglomerates can fail, ventures funds can fail and governments can fail as well. All it takes is a few really bad decisions and anything can go down the drain.

So is it possible for Binance to fall? Of course! Will it? Hopefully not anytime soon.
 
Don't put your All Eggs in One Basket - Warren Buffet

Said this

I Divide my Funds into Multiple Exchange

Can't keep all my funds in one exchange !!
 
You will not believe that it can happen to an exchange like binance untill you are affected yourself with such a hack. I expect that most of these hacks are planned by the exchange owner themselves as exit strategy.
 
there is a posibility but I don't thing they will let it fall that easy, Binance move even more crypto, will be a big hit, someone else swill take the seat but will be heavily regulated.
 
Binance CEO (CZ) made FTX fall with just some tweets, it's far stronger than other platforms. It is possible that Binance could fall too but if they do, a lot of cryptos except the main ones will freefall and die, and the main ones will dump and won't recover for a very long time. It wouldn't happen easily, too many people have a vested interest in keeping crypto alive and preventing the fallout.
 
Monroe123 said:
The question we should all be asking is it the new CEO that's breaking their regulations and is CZ part of it, no one knows or is it an employee in the development team that doing all this cause it would be sad to see binance fall like FTX
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Comparing FTX and Binance is apples and oranges. FTX was a derivatives exchange, not a spot exchange like Binance. Plus, let's not forget Binance's role in FTX's collapse – CZ dumped FTT and Solana, triggering the liquidity crisis.

Binance has since opened its wallet addresses and does Proof of Reserve. Their problems are mostly in the US; they've sorted things out elsewhere.
 
Nobody knows the future. It's better to store your crypto in your private wallet.
 
All exchanges can fall, insiders, zero days, etc.

However its irrelevant if you move your crypto to a self custody wallet(plenty of free ones like electrum, feather, etc),

Not your keys, not your crypto - you have no right to cry if you ignore the bitcoin creators fundamental message...
 
I lost my forever alive trust when I see that chatgpt eats google and deepseek eats chatgpt.

So, Nothing lasts for ever.

We just have to be more cautious and take decision based on time.

and move on.
 
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