Topic: Binance in trouble over listing scam defi token - page 3. (Read 740 times)
Everyone should understand that the exchange will not take any responsibility about the losses by its users, this should be a lesson for all that even a trusted exchange can make the mistake by listing a scam coin, which is why don't ever join the hype that is going on. I think crypto trader that experience lose with DeFi coin not only in this project.
Come on... let's be honest, the guy was upfront from the start. He said they are listing it because it is generating huge interest.. and for them interest is when a lot of trading volume is being generated.
The problem comes in when they are listing tokens that has no identifiable team, but if that was the rule.. nobody would be listing Bitcoin (BTC) ..because nobody knows who Satoshi Nakamoto is.
They are in the business to make profit and if people are asking for a specific token.. and it shows large trading volume, then they would surely list it to get those fees.
The problem comes in when they are listing tokens that has no identifiable team, but if that was the rule.. nobody would be listing Bitcoin (BTC) ..because nobody knows who Satoshi Nakamoto is.
They are in the business to make profit and if people are asking for a specific token.. and it shows large trading volume, then they would surely list it to get those fees.
Its hard to blame binance over this. They are afterall a platform and investors should make their own research especially when about to risk their own hard earned money.
They also added Sushi almost immediately to the futures market with x50 leverage I think CZ does not say something, or they themselves lost a lot, as the sushi team could earn a lot money on the short.
a bit confused about why cz made a blunder which was quite fatal, binance exchange should not to follow DeFi trend too much and if they want to follow listed of defi projects that should have a real team not anon team, and projects like Sushi should not be eligible to enter Binance exchange, I hope Binance won't make the same mistake with listing issues on defi project again.
Holy cow! Good thing I did not purchase $SUSHI's when I saw it was trading at Huobi. I was tempted to invest since it looks very appealing and a solid DeFi cryptocurrency. Also I was in FOMO for what happened to $YFI and $YFII right now. I thought Binance thoroughly investigates all their listed cryptocurrencies since they always say that in-order to be listed at Binance, a fortified solid super hard than your d*ck project is a must and does not list just any of the cryptos. But I know for sure even if they got in trouble, Binance will still remain number 1 among all Centralized Exchanges.
Hours ago I saw news that founder of Sushi passed his project to head of FTX who is related with CZ, so it seems that CZ wants to clean his reputation with this move, now Sushi isn't potential scam project but project with reliable owner.
Because of this news the price has gone up almost 3 times in a few hours, but I don't think this is a legitimate project, too risky for us to bet our money on the project. They have lost their reputation and I believe many will soon leave this projectwhat are the tangible objectives of this sushi project? are they keeping up with those objectives?
because even if CZ is now in some way connected with this sushi project, still we need to know what is the added value that this sushi has already offered to the community? so it is really up to the user whether he will trust a defi project or not and it is his own responsibility to do his due diligence!
Hours ago I saw news that founder of Sushi passed his project to head of FTX who is related with CZ, so it seems that CZ wants to clean his reputation with this move, now Sushi isn't potential scam project but project with reliable owner.
Because of this news the price has gone up almost 3 times in a few hours, but I don't think this is a legitimate project, too risky for us to bet our money on the project. They have lost their reputation and I believe many will soon leave this project
I do not think that many of them are scam, of course as everything in life there could be some scam but I believe majority is not scam. However I believe almost all of them will fail, there would be only a rare few of them that will make a profit and that is why I believe there is really not that much money to be made from them.
Just focus on the ones that will make you money right now and get out when you can because in the future it will not make you any money at all, in the future (like 1 year from now) the hype from the defi word will die down and it will not be as big of a deal as it is today, everyone will move on with the new thing and that is why I believe prices will go down as well. That is why I believe everyone should be careful about the future of defi as a whole.
Just focus on the ones that will make you money right now and get out when you can because in the future it will not make you any money at all, in the future (like 1 year from now) the hype from the defi word will die down and it will not be as big of a deal as it is today, everyone will move on with the new thing and that is why I believe prices will go down as well. That is why I believe everyone should be careful about the future of defi as a whole.
There is the defi token called "SUSHI" which was listed on binance a while ago. Unfortunately the founder reportedly exit scam leading to the price dropped 60% off just within 24 hours. A lot of traders has gone nut on CZ Binance on Twitter claiming that he deleted some of his post about the project
I will be surprised if everyone was surprised with this outcome, it was inevitable when they hype started and now we saw a case of a exit scam using one of the major exchange and CZ being vocal with everything that is going around i wonder what his excuse would be for allowing an exit scam in his exchange and i would like to see the outcome when investors approaches the authorities regarding this scam.
Honestly, Cz ruined the credibility of the exchange. He's afraid of losing traffic and listing a scam project, he doesn't even know who its founder is. It is too risky for us to invest in Defi projects in this market, they can become scammer at any time.
Sushi, kimchi, pasta, pizza, hotdog.
https://coinmarketcap.com/currencies/kimchi-finance/
https://www.coingecko.com/en/coins/pizza-usde
https://bitcointalksearch.org/topic/m.55100124
https://bitcointalksearch.org/topic/m.55119631
https://twitter.com/vodka_finance
When scam developers hype with names like that, I won't waste my time to investigate their projects. See the names and ignore them instantly.
Define the (scam) DeFi
https://coinmarketcap.com/currencies/kimchi-finance/
https://www.coingecko.com/en/coins/pizza-usde
https://bitcointalksearch.org/topic/m.55100124
https://bitcointalksearch.org/topic/m.55119631
https://twitter.com/vodka_finance
When scam developers hype with names like that, I won't waste my time to investigate their projects. See the names and ignore them instantly.
Define the (scam) DeFi
It is not a big challenge to know signal of scam. I'd not say all DeFi projects are scam but most of them are. Let's skip how to search and detect scam projects. I only say the truth the if DeFi is a real evolution for the financial and crypto space, the pioneer will get big success and we should only stick with the pioneer or if want to expand portfolio, to very limited later projects.
When you see DeFi is everywhere, it is time to stop your eyes on new DeFi projects.
Same as what happened with Bitcoin forks. I can call Bitcoin Cash is a success. Successful in term how the team hyped investors and pumped the price of bitcoin cash too very high. Later forks have price lower and lower. More forks, lower price than Bitcoin Cash.
Same for DeFi projects. Be smart!
When you see DeFi is everywhere, it is time to stop your eyes on new DeFi projects.
Same as what happened with Bitcoin forks. I can call Bitcoin Cash is a success. Successful in term how the team hyped investors and pumped the price of bitcoin cash too very high. Later forks have price lower and lower. More forks, lower price than Bitcoin Cash.
Same for DeFi projects. Be smart!
Hours ago I saw news that founder of Sushi passed his project to head of FTX who is related with CZ, so it seems that CZ wants to clean his reputation with this move, now Sushi isn't potential scam project but project with reliable owner.
CZ is also human, of course he may also have made mistakes in determining the audit on the project, maybe this will be a lesson for CZ to be more careful and not follow the hype, they should think about their community, yeah hopefully in the future they don't make the same mistake.
CZ / Binance is for the money. They are business and they understand what the market needs. They would be happy to list something that has huge demand even without asking for a listing fee.
It's a give and take on their side despite the crap of the market. His tweet only says that he will never remove his business mindset whatever the project is.
It's a give and take on their side despite the crap of the market. His tweet only says that he will never remove his business mindset whatever the project is.
Binance just want to earn money on traders and nothing more. They want money here and now, no time for audit and for kyc for projects ceo
What we forget is binance is just another exchange. They needs to keep on new cons so that there would be users coming to it, the volume coming to it. They might look over which coin to add next but it doesn't mean the one they chooses would always be a legit project. The twit about the founder filling form is a tip from CZ (personally) to increase the chances of getting listed on Binance. It doesn't mean the founder actually provided every details of himself/herself or the person that filled the form is actual founder.
Not only Binance many top exchanges listed this "SUSHI" gateio, okex, huobi very quickly without thinking the risk but we cannot blame exchanges into our personal actions they did not force buyers to buy it its business and everything they think as an opportunity they will list it into their platform including anon founder like this one.
Yeah, Binance seems to be listing all of this coin coming from uniswap. Are they afraid of uniswap? And there's a lot of good coins out there that's not yet listed on Binance.
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