Topic: Is the Binance the next to bite the dust or FUD? - page 7. (Read 2421 times)

@Faisal2202. I reckon that what CZ is presently doing, in avoiding regulations and escaping the rules of certain jurisdictions, it can be considered as something similar to a playbook in how to use decentralization and the cryptospace to one's advantage.

If CZ successfully maintains his position as the king of the cryptospace, it will only show that decentralization, if used correctly, will do its job.

Binance's CEO is a clever person he always lives like a king and challenges every other exchange with solid proof (I am not admiring him, just stating facts I have seen), For example, i have seen how he tries to degrade Coinbase Exchange whenever he got a chance, write after selling $500million of FTT token which causes FTX exchange to bankruptcy, he posted a tweet about Coinbase which could cause another fud or whatever term you can use, to spread disaster throughout the market. But in the 24-hour timespan, he deleted that post.

Overall, recently when SEC banned the staking feature on Kraken and they warned Binance to stop minting BUSD via Pixos company then Binance take a stand and did not stop it. From there i thought, he has some resources that others lack. The total market cap of Binance is really high as it's being used in many countries so i also do not think it will bankrupt in 24 hours as FTX exchanges bankrupted.

I could not find CZ's statement about the reason why he decided to dump FTT, however, he said that in the crypto founders' circle, rumors were spreading about FTX and Alameda. CZ also said that he later talked to Sam Bankman-Fried and asked him to stop whatever Sam was doing but Sam did not listen. Binance had a big investment in FTX's token FTT. If you were CZ and knew that there was something not good happening in FTX, how would you feel about your investment? It was a business decision. They dumped rather than being left on being the bagholder hehehe.

In any case, more stressful news for Binance. It appears they might slowly lose their position as king of the exchanges of the cryptospace if more regulators in many jurisdictions become more demanding.



Dubai and UAE have officially requested that Binance provide more information on its ownership structure and auditing procedures. Moreover, Bloomberg reports that the request has arrived following stricter crypto scrutiny on entities seeking a crypto license.

Additionally, the report notes that the requests arrive in wake of the massive collapse of FTX that occurred last year. Now, Dubai is seeking to tighten the application process for crypto license seekers, including Binance. Subsequently, requesting information on its various structural facets.

Source https://watcher.guru/news/dubai-uae-request-binance-provide-more-information-on-structure-and-auditing-procedures

@Rikafip. He was speculating and he shared a string of a statement. His friends asked him what was the statement and he sent some them the seed. One of his friends leaked the statement.

I checked him out a little bit and it looks like he has a podcast called UpOnly. I noticed something interesting on his older videos and that's FTX banner so maybe he is butthurt about FTX going down and he blames CZ for that.


Well, what he shared wasn't really prediction but rather a statement ("Interpol Red Notice for CZ") so unless it happens very soon it means that he was just bullshitting. Unfortunately, no rumour or FUD will make majority of people moving their money out of Binance.

Lmao. Has everyone already forgotten when Binance publicly tweeted they were dumping FTX token and kicked off the bank run which led to the collapse of FTX? And then he calls people taking shots at him "fud" and "very petty". What a scumbag.

@Rikafip. He is one of the trustworthy members of the cryptospace community. He was in bitcoin before 2015 and he was also one of the first Ethereum investors. I reckon it was his investment in Ethereum that made him a millionaire. His predictions before are more based from an understanding on what occured in the past and guessing if it will happen again.

In any case, I very much agree with CZ in this statement shared in social media.



The latest Fud was only spread by crypto news outlets and KOLs, likely planted/sponsored by another exchange. Very petty. Hurts the industry and hurts themselves. There are enough external forces attacking us. Our industry needs to unite at this juncture.

Source https://mobile.twitter.com/cz_binance/status/1643116378155634688

Yeah I saw the rumour but I don't follow @cobie ao I have no idea how quality his info is. Did he share anything in the past that proved to be correct, what's his track record?

Regarding the Interpol Red Notice, anyone can go to their website and check if CZ is on it (so far he isn't),.Even though I generally like Twitter and use it on the regular basis, signal to noise ratio there is awful and absolutely everything you read there should be taken with handful of salt and there is FUD on the daily basois on almost anything crypto related. Then again, just because this news about CZ is probably FUD, that doesn't mean that people should use Binance (or any other exchange for that matter) as bank and store their money there or that he is clean. 

Agreed. CZ did not create Binance to scam the people. He created Binance as a business and help make the cryptospace grow so his business will also grow. However, the government and their regulatory agencies do not want this because it would give them less control on the people's financial transactions.

In any case, there was a joke that CZ was in the Interpol's red notice, however, if you know @cobie, he also the has power of knowing the future hehehe.



Binance's BNB token and bitcoin (BTC) plunged Monday as a rumor spread that the crypto exchange's CEO faced an international law enforcement request to detain him.

Turns out, the catalyst for all this was an encrypted message contained in a tweet that was apparently not meant for the public's eyes – at least not yet – and that might've just been a wild guess.

"Interpol Red Notice for CZ," read the tweet from @cobie, who is well-followed by the crypto community. Not only is that account private, the text of the message was actually a garble of letters and numbers.

Source https://www.coindesk.com/policy/2023/04/03/unverified-rumor-of-interpol-red-notice-for-binance-ceo-changpeng-zhao-sends-bnb-bitcoin-lower/

Well, I just wish that it wouldn't turn out like what FTX did or they'll never will considering they are huge and lot will totally be upset. I don't know the real score if they'll not make it but it would likely be the same like what Mt. Gox did in the past or even huge than that.

We still have no idea what CZ is a actually doing behind the closed door (at least not the most shady stuff). Sure, he doesn't seem as reckless and cocky as SBF but just a six months ago Sam was seen as 2nd coming of Christ by a large portion of crypto community and guy who will save crypto industry and we can see how that ended.

We don't know if they really are working to be friendly with regulators since that's what CZ always want to emphasize but we may never know what will happen and I think they are working on it, it could be catastrophic if they wouldn't be able to. I'd say CZ's Binance was way more transparent (maybe) compare to SBF that still says not guilty on frauds and conspiracy, a truly pathetic dude.

source--

the domino effect of the FTX crash is happening and this time I'm curious how binance will overcome this problem, binance is the biggest exchange in the world that has many other exchange derivatives in several countries. I used to do exchanges on Tokocrypto (a derivative of Binance). If Binance can't escape this pressure, I'm afraid the impact will be huge.

Now they are targeting Binance in regards to relation on China. It seems like a coordinated attack to Binance and I think few more days to wait until the market reacts. I guess US doesn't want Binance to stay and these attack are likely a massive thing for Binance which they shouldn't ignore.

@Z-tight. What they certainly cannot do is stop bitcoin, however, they can harrass bitcoin developers, users, miners and companies. This will be very much like what they did to Tornado Cash's developer, what they did to Chipmixer, other bitcoin privacy services and bitcoin payment processors.

Everyone should read the news and witness that it is happening already. They are beginning to raise taxes on miners, cracking down in exchanges, investigating banks that accept deposits from exchanges and seizing privacy proving websites.

Also, G7 nations will begin cooperating to create strict laws for the cryptospace. We should be more cautious when we wish for the success of a government crackdown. Much of these crackdowns are done only under a fake act of protecting small investors. It is really done to protect the interests of the rulers of the country.



Cryptocurrency regulation is one of the biggest agendas for the major economic countries. The seven largest democracies may advocate for stricter cryptocurrency laws globally at the upcoming G7 summit. The countries in question include Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union.

Source https://watcher.guru/news/g7-nations-to-work-towards-strict-global-cryptocurrency-laws

They can probably investigate, regulate and to an extent control centralized exchanges, services and altcoins, but they can't destroy or control BTC because it is decentralized, and just as they as suing Binance and CZ as an individual for regulatory violations, they can't attack BTC in that way, it isn't a company or security and there is no singular individual you can pick out and slap a lawsuit on.
The charges are clear, and i wonder how CZ and Binance are going to respond, surely they would deny any wrongdoing, but the charges say they have allowed US customers to trade derivatives on their Binance platform, even after they claimed they would block such from happening, the link also said Binance provided some of these customers with ways to avoid being caught as US customers. Since Binance are mainly only trying to make money for themselves through shady means and not following the law or due process, this isn't something one can say they didn't do or commit.

Honestly I don't care about any exchange who puts a sniper's target on "US persons". Earlier I said, FTX can go to hell. And boy, to hell they indeed went.

But my employer is using Binance and specifically, has trading bots there, so if Binance goes down then I'll probably be out of work too 

It appears that the government under the control of the Biden administration is really determined to break the the cryptospace and control what will be left from it after they have destroyed it. It also appears that this continuous investigations and and lawsuits against CZ and Binance will not stop.

I reckon it was much better under the Trump administration. They only told everyone that they do not like the cryptospace but there was no action behind those words hehehe. In any case, Binance.us might bite the dust before the end of 2023.



The U.S. Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and founder Changpeng Zhao Monday on allegations the company knowingly offered unregistered crypto derivatives products in the U.S. against federal law.

The lawsuit, filed in the U.S. District Court for the Northern District of Illinois on Monday, alleged that Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleged that the company, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks.

Read in full https://www.coindesk.com/business/2023/03/27/binance-and-cz-sued-by-cftc-over-regulatory-violations/

True, but many developers remain anonymous, and they don't have global jurisdiction.

Also true. They could, as they did with gold, simply declare it illegal for citizens to hold bitcoin and demand that everyone hand their bitcoin over to the government. The difference here of course being they cannot forcibly take your bitcoin as they could with your gold, not least of all because I lost all my keys in an unfortunate boating accident.

I'm not sure what altcoins have to do with this. If the government were hell bent on sanctioning bitcoin, then it would trivially easy for them to sanction these largely centralized altcoins as well.

@ o_e_l_e_o. Agreed, however, the SEC and other government agencies can also crackdown on developers of decentralized projects in the cryptospace similar to what they have one on the developer of Tornado Cash. They can also sanction bitcoin addresses and label anything containing them as illegal funds. This is very head shaking because there are some bitcoin maximalist who support this type of behavior because they think the cryptospace should be bitcoin only. We should not be like this, I reckon.

The very reason the SEC can crack down on stablecoins is exactly because they are completely centralized. They are ran by a single entity, issued by a single entity, controlled by a single entity, can be seized/frozen/confiscated by that single entity, and if that single entity scams or goes bankrupt then the whole thing collapses. The SEC can simply put pressure or lay criminal charges on that single entity, and they can do what they like with that stablecoin. The same is generally true for centralized exchanges and other centralized services.

The same is absolutely not true for Bitcoin or for truly decentralized exchanges like Bisq. These things are entirely decentralized. There is no single entity with the power over Bitcoin or Bisq to shut it down or alter it, and so there is nothing the SEC can do. Unless they feel like targeting every Bitcoin node in the world or every Bisq user in the world, which is obviously not possible.

And so I say let them. Too long have centralized exchanges leeched off the popularity of bitcoin with their centralized shitcoins, their token printing out of thin air, their fractional reserve scams, their privacy invasion, their data harvesting and selling, all in the name of making themselves profits. Let them all be regulated in to oblivion and shut down entirely. Bitcoin will be just fine, and will be stronger for it.