The news are simply to sway in Big exchange Binance but would you think the number 1 centralized exchangw would badge on this? Especially CZ is one of the richest crypto people out there. Of course they will take action and their CEO simply defend the issue on social media.
I dont know whats the big fuss about it but only some might panic on this considering how huge Binance is. Its about the concern on Busd on paxos issuer, but deliberately all US related product on crypto might enter this kind of issue cause we all knew how strict US when it comes to regulation.
Topic: BNB & BUSD Under Attack - page 2. (Read 273 times)
I think BNB will be fine. but I don't know about BUSD. but I'm also pretty sure Paxos will handle it pretty well. because even after this FUD we can see BUSD not dropping too far. and this is different from last year's UST or Luna case. However, we must still be prepared for the worst. so for a while I also converted my BUSD to USDT. Being careful is much better than being sorry in the end.
For BNB and BUSD myself I'm not too worried considering these two tokens are backed by one of the biggest exchanges in the world and it's clear in their documents that their assets are in their control and the CEO of Binance already has a long term plan to manage how Binance and their tokens stay survive in the crypto market.
You still have a lot of lessons to learn, I guess.Yes, It is the biggest crypto exchange until all of a sudden it isn't. Remember FTX being the second or third-largest crypto exchange? Where is it now?
Please stop blindly thinking nothing can happen to binance because it's the biggest.
CZ is already trying to distance himself and binance from BUSD and paxos.
I do not have the numbers but I would guess it was bigger than binance and it still disappeared, so thinking that just because binance is the biggest exchange on this market nothing can happen to it is a huge mistake.
For BNB and BUSD myself I'm not too worried considering these two tokens are backed by one of the biggest exchanges in the world and it's clear in their documents that their assets are in their control and the CEO of Binance already has a long term plan to manage how Binance and their tokens stay survive in the crypto market.
You still have a lot of lessons to learn, I guess.Yes, It is the biggest crypto exchange until all of a sudden it isn't. Remember FTX being the second or third-largest crypto exchange? Where is it now?
Please stop blindly thinking nothing can happen to binance because it's the biggest.
CZ is already trying to distance himself and binance from BUSD and paxos.
True. As I always say - expect the best, prepare for the worst. Anything can happen and no one nothing is 100% safe.
If their reports were not cooked, they have good management for their own treasuries and customer fund.
In this fud and crisis, Binance got a lot of trust and positive support as well as responses from big entities. Venture capitals don't swap their BUSD to other stable coins that is a very good signal of their high trust on Binance and CZ.
Binance gained very high trust and reputation after the FTX fiasco and BUSD gained lot of interest in stablecoin branch. Hence other exchanges, other stablecoin teams want to attack Binance and BUSD that is understandable.
If in a few more days, Binance and BUSD are fine, BNB and the whole cryptocurrency market will recovery very strongly. I believe they will recover.
If you don't let fud affected you a lot, you will see globally, what are banks are able to proceed $3B withdrawals for customers in about 24 hours. Binance are actually better than many banks.
In this fud and crisis, Binance got a lot of trust and positive support as well as responses from big entities. Venture capitals don't swap their BUSD to other stable coins that is a very good signal of their high trust on Binance and CZ.
Binance gained very high trust and reputation after the FTX fiasco and BUSD gained lot of interest in stablecoin branch. Hence other exchanges, other stablecoin teams want to attack Binance and BUSD that is understandable.
If in a few more days, Binance and BUSD are fine, BNB and the whole cryptocurrency market will recovery very strongly. I believe they will recover.
If you don't let fud affected you a lot, you will see globally, what are banks are able to proceed $3B withdrawals for customers in about 24 hours. Binance are actually better than many banks.
I feel like attack on bnb is not something important as its just another altcoin. Critical one is definitely attack on busd. Limiting it means CZ may need to replace all its trading tools. He may even need to replace busd totally and do 1:1 replace with issuing another binance backed stable coin. Things are surprisingly going bad. I think market reaction shows what can be the worst. Many people trust cz but regulations are very important.
I'm still looking at it and good thing that it's not that much on my portfolio. Whatever comes in this situation and if it will be worse then I'll quickly act on it to convert it to another asset that I have.
But as per the CZ's recent tweet, "Ignore FUD, fake news, attacks, etc." it is clear that both BNB and BUSD will recover the price soon.
We get this all the time from these CEOs even if there's something that's really happening into their fence. But will still consider that as he's the one who has opened the idea about FTX however, it doesn't mean that he can't get f***ed with his things. 
For BNB and BUSD myself I'm not too worried considering these two tokens are backed by one of the biggest exchanges in the world and it's clear in their documents that their assets are in their control and the CEO of Binance already has a long term plan to manage how Binance and their tokens stay survive in the crypto market.
You still have a lot of lessons to learn, I guess.Yes, It is the biggest crypto exchange until all of a sudden it isn't. Remember FTX being the second or third-largest crypto exchange? Where is it now?
Please stop blindly thinking nothing can happen to binance because it's the biggest.
CZ is already trying to distance himself and binance from BUSD and paxos.
I think BUSD would eventually overcome the hate NYFD and USDC has thrown to it these days. As long as it is a store of value, then its all good
Anything can happen but Binance team assure the public that they have plans and a better strategy to overcome this pressure and this current issue, this is not the first time they attacked Binance and tries to ruin its reputation, the last one Binance was able to survive it. Anyway, if you’re still panicking and want to be more safe then just convert your BNB to BTC, you can be more safe with this while waiting for the updates and the official statement of Binance with regards to this.
For BNB and BUSD myself I'm not too worried considering these two tokens are backed by one of the biggest exchanges in the world and it's clear in their documents that their assets are in their control and the CEO of Binance already has a long term plan to manage how Binance and their tokens stay survive in the crypto market.
I think BUSD would eventually overcome the hate NYFD and USDC has thrown to it these days. As long as it is a store of value, then its all good
In addition to that, there's a big difference between the owners of BNB/BUSD project vs FTX/LUNA projects.
The owners of FTX/LUNA projects put some of their bankrolls to their own pockets and used for their own luxuries.
I have high regards with CZ that he is doing good in this business because he has actual plans for his platform.
Sure, he is earning good income from this business, but I don't think he will abandon his platform for the sake of his own luxuries.
I think BUSD would eventually overcome the hate NYFD and USDC has thrown to it these days. As long as it is a store of value, then its all good
Recently we have seen a huge Dump in BNB price, as well as BUSD, is treated below $0.998. The BUSD price $0.998 seems not too low for many new traders but for the Whales and big investors its like, if they have $998000 USDT then they can get $1M BUSD, and later on they can sell it with an equal amount, so they do the trading but BUSD price dumped to $0.9959 which is a lot for the big investors.
The same happened for the BNB holders, as the BNB was traded at around $320 but recently down to $283 which is also a lot for the big whales.
All the Dump occur because of the SEC because they launch enforcement action against Paxos, the issuer of BUSD. Paxos says that it will vigorously defend itself, and the issue is going to court. But as per the CZ's recent tweet, "Ignore FUD, fake news, attacks, etc." it is clear that both BNB and BUSD will recover the price soon.
All the small investors and Newbies are advised to take extra care because if something bad happens then they won't be able to get their investment back and it will be the same case as LUNA and FTX as they were also considered Stablecoins like BUSD.
The same happened for the BNB holders, as the BNB was traded at around $320 but recently down to $283 which is also a lot for the big whales.
All the Dump occur because of the SEC because they launch enforcement action against Paxos, the issuer of BUSD. Paxos says that it will vigorously defend itself, and the issue is going to court. But as per the CZ's recent tweet, "Ignore FUD, fake news, attacks, etc." it is clear that both BNB and BUSD will recover the price soon.
All the small investors and Newbies are advised to take extra care because if something bad happens then they won't be able to get their investment back and it will be the same case as LUNA and FTX as they were also considered Stablecoins like BUSD.
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