Topic: What makes Binance stay strong despite all FUD ? - page 3. (Read 805 times)
I think One of the reasons why Binance has been able to stay strong despite all the FUD (fear, uncertainty, and doubt) is because of their anticipation and preparation for regulatory pressures. CZ and their legal team may have been one step ahead of their competitors and regulators by predicting they would face regulatory pressure, and as such, they prepared for it.
Because Binance don't care about it and they don't waste its time answering the issue which is not true instead, the team continues to improve as it serves its counterattack. That is why investors are still calm without thinking bad things gonna happen and of course, why they should worry as they know that Binance can be trusted despite the issue connected in the first place.
Well, honestly, Binance had already gained trust which is why no matter how many FUDs come, people remain trusting this project.
Well, honestly, Binance had already gained trust which is why no matter how many FUDs come, people remain trusting this project.
It is not that Binance does not care about all FUDs but they just respond to all rumors in their own way, especially by updating what they are doing and what achievements they have made. If you read CZ's tweets often, you'll find that the consistency of updating progress gives users enormous confidence and thus gains their trust. Through all the efforts, we can see their commitment and competence to operate Binance well, which is a powerful proof to clear any FUD. They are really doing great and we should look up to.
Because Binance don't care about it and they don't waste its time answering the issue which is not true instead, the team continues to improve as it serves its counterattack. That is why investors are still calm without thinking bad things gonna happen and of course, why they should worry as they know that Binance can be trusted despite the issue connected in the first place.
Well, honestly, Binance had already gained trust which is why no matter how many FUDs come, people remain trusting this project.
Well, honestly, Binance had already gained trust which is why no matter how many FUDs come, people remain trusting this project.
as you said if there is a public misunderstanding and the team swiftly clarifies. Currently, most investors are smart and don't easily believe in FUD without clear data, moreover only FUD is in the form of conjecture. I mean what caused Binance to be strong against FUD is because the public has enormous trust in Binance and this trust was created because the team was quick to provide clarifications when there was a public misunderstanding.
Someone already said adaptation so I'm just going to add anticipation to that. I think CZ and his legal team has been one step ahead of competitors and maybe of regulators. They may have anticipated that they will be getting a lot of regulatory pressure so they've kind of prepared for that. Putting up Binance US was probably one of their brilliant moves to limit potential damage by US Government agencies.
That is why I think they did co.uk version too, to fend off any attacks from England which we are pretty sure would have happened, I say England and not UK because lets face it, scots and Irish and welsh have nothing against binance, it was just English government.I have to say Binance is too strong global to care about just America as well, us government can do whatever they want but that doesn't change the fact that they are still growing in big numbers outside of USA which means that even if you banned it in all of USA, binance would still be at the top. Isn't that what makes it so powerful? No nation has a single hand control over it and won't ever have it.
They are the monopoly of cryptocurrency trading so people still need to use their platform despite of all the FUDs, regulation issues, etc still they are holding the majority in the trading market so the coin also holding the value along with the brand reputation. BNB also made developments unlike other exchange's coins so its completely different from other shitcoins.
There is nothing short of FUDs in the crypto market especially for big names such as Binance. Recently there are so many accusations about Binance and even the U.S Senator has inquired. According to Binance's response https://www.binance.com/en/blog/ecosystem/binance-shares-its-recent-response-to-us-senators-inquiry-1968152125579137703 , there are some public misconceptions about Binance and the team had already clarified. When I read the news, the first thing came to my mind was that BNB price was doomed to decrease dramatically. However, Binance US's weekly trading volume reached 41% of Coinbase's (global) trading volume last week, which is an ATH. (Source:https://twitter.com/cz_binance/status/1641728341962096641). At the same time, BNB price is still around $320, showing very little volatility. What makes Binance so strong faced with so many unfavorable conditions ? Please share your opinions.
Binance is the largest exchange in the world, it is in first place, its ecosystem is fairly complete and its trading valuation is also very high compared to other exchanges, and of course they have a proof of reserve as a unit of trust for their users for liquidation.
Apart from that, Binance has indirectly become the pride of the market and the icon of the greatest trust in every crypto market, so that even if a problem occurs, there will always be many who will defend Binance because if left unchecked, it will definitely cause terrible natural disasters on the market.
Fuds no longer significantly influence the market because almost all investors are aware that the SEC is fighting crypto adoption which is growing day by day, and its main target are exchange market providers who are meant to provide fear.
At the same time, BNB price is still around $320, showing very little volatility. What makes Binance so strong faced with so many unfavorable conditions ? Please share your opinions.
Binance was able to hold and surpass the FUD factor from the high level of trust, the trust of users in the BNB ecosystem is huge, similar to Binance. As a result, the BNB price barely fluctuated as Binance and CZ kept having trouble with FUD, which is proof of trust. To be the #1 centralized exchange, Binance is used to that and that pressure is their strength. To be so successful, they accepted that fact and FUD as a part of their companion. 
I think if binance joins the collapse then the crypto market will be greatly affected by this, we know that last year was a bear which was very scary if we added to the collapse of binance, it can be concluded that the crypto market will crash very big, but I'm also confused why btc is still continues to rise when many predict that btc will still go down.
Binance collapse will have a very large impact on Bitcoin and make many people forget about the cryptocurency market but that won't be the end of the market. Bitcoin will bounce back and rise to higher price but would take some time.
Binance is fighting with legit proofs and many of the FUD are fake been sponsored by FTX supporters or investors that are angry that Binance cause their collapse and want payback.
Whenever they have a valid proof that binance exchange or the CEO is guilty of if the accusations against them, they'll go down as other centralized exchanges has gone done in past but the market will survive as it usually does.
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Trust and reputation.
I think these are the 2 things that making Binance strong and still one of the best centralized exchanges out there. Reputation because they've been one of the best and most popular exchanges right now in crypto space. Trust is I think the main reason why they are still at the top in terms of CEX, and because they're at the top, it's pretty obvious that the authorities will do what they can. If they find a loophole on the exchange, or the owner itself, they will do everything just to put it down. Many users are still using it (including me) because they trusted the exchange more than any exchanges out there. Maybe some find it way more convenient to use than other exchanges.
I think these are the 2 things that making Binance strong and still one of the best centralized exchanges out there. Reputation because they've been one of the best and most popular exchanges right now in crypto space. Trust is I think the main reason why they are still at the top in terms of CEX, and because they're at the top, it's pretty obvious that the authorities will do what they can. If they find a loophole on the exchange, or the owner itself, they will do everything just to put it down. Many users are still using it (including me) because they trusted the exchange more than any exchanges out there. Maybe some find it way more convenient to use than other exchanges.
Someone already said adaptation so I'm just going to add anticipation to that. I think CZ and his legal team has been one step ahead of competitors and maybe of regulators. They may have anticipated that they will be getting a lot of regulatory pressure so they've kind of prepared for that. Putting up Binance US was probably one of their brilliant moves to limit potential damage by US Government agencies.
while realizing that binance was one of the best exchanges available today, CZ realized that there would be a lot of pressure from the government, as well as other parties as well as some popular cryptos that are getting some pressure from the government and regulations. so I also think that CZ really thought about the steps and anticipated when that happened. This even has a positive impact that causes trust in its users to increase. besides that, we also often see how CZ solves problems from binance and solves FUD in a professional way.Exactly. I also share your opinion about CZ. He is a great leader who makes Binance grow so rapidly and healthily. His approach of handling FUD and even crisis is professional and effective. That's probably why so many users still support him and Binance despite all setbacks all over the years. Binance would never become successful without CZ.
Someone already said adaptation so I'm just going to add anticipation to that. I think CZ and his legal team has been one step ahead of competitors and maybe of regulators. They may have anticipated that they will be getting a lot of regulatory pressure so they've kind of prepared for that. Putting up Binance US was probably one of their brilliant moves to limit potential damage by US Government agencies.
while realizing that binance was one of the best exchanges available today, CZ realized that there would be a lot of pressure from the government, as well as other parties as well as some popular cryptos that are getting some pressure from the government and regulations. so I also think that CZ really thought about the steps and anticipated when that happened. This even has a positive impact that causes trust in its users to increase. besides that, we also often see how CZ solves problems from binance and solves FUD in a professional way. 
Binance is still the biggest centralized crypto exchange to today and I think they will continue as they are today. I personally have a binance account and I know the risk behind it, I'm using it but I don't store money on that exchange given the risk of it. I just like how easy and comfortable it is to use and the convenient features of it like p2p trading. I still haven't experience any trouble using it and despite all the FUD, I will still use it personally compared to other exchange out there. I know the risk and I think I'm managing it right by not storing massive amount of crypto there and also doing transfers on my non-custodial wallets. I just like the service and that's all.
I know that there are exchange that has a similar features like binance, Yep but I'm not really willing to submit another KYC on another exchange.
I know that there are exchange that has a similar features like binance, Yep but I'm not really willing to submit another KYC on another exchange.
Investors are wiser now, they didn't listen easily to the government's FUD anymore because many knows that it is just an attack to ruin the reputation of the site. It's good that we have Binance who are strong enough to face such FUD.
But again that's a legit case against Binance so it can still affect its platform, maybe whales are just holding on for now but if that case pushes through, we might see the dump on Binance just like what happened to XRP, better to be more cautious from here forward.
But again that's a legit case against Binance so it can still affect its platform, maybe whales are just holding on for now but if that case pushes through, we might see the dump on Binance just like what happened to XRP, better to be more cautious from here forward.
While it is true that some investors may become more skeptical of government FUD and its potential impact on cryptocurrency platforms, it is important to consider the legitimacy of any claims made against a platform. As you noted, the case against Binance is a legitimate matter and has the potential to affect the reputation and performance of the platform.
My view is that in this condition it is very important for investors to be careful and monitor the situation closely. While some may choose to keep their investment, others may decide to divest from the platform to reduce risk.
There is no doubt, Binance is the biggest exchange at the current time and from all indications, the cryptocurrency industry has been in the news for a while now, so no matter what the funds are we must be ready to make an extra effort to check for corresponding information, last week I heard about the binance crisis and I know this is just funds and there expected from time to time since the exchange is becoming more popular among governments officials and other users of the exchange.
Someone already said adaptation so I'm just going to add anticipation to that. I think CZ and his legal team has been one step ahead of competitors and maybe of regulators. They may have anticipated that they will be getting a lot of regulatory pressure so they've kind of prepared for that. Putting up Binance US was probably one of their brilliant moves to limit potential damage by US Government agencies.
There are both difficult and good moments for traders, the same thing applies for exchange. Binance is reliable because it never crashes in a single day, but it's also a target for scammers who are constantly coming up with new ways to bring the exchange down. Nevertheless, the exchange consistently produces reliable results and is growing in recognition in the industry. The best broker to use for cryptocurrency trading is Binance. Changpeng Zhao performed well to outperform rivals in the field; not only is he always one step ahead of his rivals, but his team's relentless efforts have also helped.
Someone already said adaptation so I'm just going to add anticipation to that. I think CZ and his legal team has been one step ahead of competitors and maybe of regulators. They may have anticipated that they will be getting a lot of regulatory pressure so they've kind of prepared for that. Putting up Binance US was probably one of their brilliant moves to limit potential damage by US Government agencies.
People don't care anymore about that accusation to the binance. These days people are taking from what they have experienced rather than trying to take such garbage accusations toward binance. Binance is not only in US. Binance has a global division that has been used by millions or hundreds of millions of people in the world. I don't even care about the such accusation and i kept use binance anytime. There's no doubt to use binance until there will be something shady that will be affecting the platforms.
I may stop if i found that. People will be having the same opinion as me if they were regularly using binance. Binance is the most trusted exchange site in the world. There's doubt about it when there was a baseless accusation like that. You shall not even think if the world was owned by US.
That's why people will not be losing their trust in the binance despite all of FUD that was coming from US regulator. US regulator is always very harsh the crypto. Im not surprised to see that happened.
I may stop if i found that. People will be having the same opinion as me if they were regularly using binance. Binance is the most trusted exchange site in the world. There's doubt about it when there was a baseless accusation like that. You shall not even think if the world was owned by US.
That's why people will not be losing their trust in the binance despite all of FUD that was coming from US regulator. US regulator is always very harsh the crypto. Im not surprised to see that happened.
This is a good point from users' perspective. Nowadays people are more educated than ever and it is not easy to manipulate us simply by spreading some rumors or FUDs. Binance has been attacked by SEC and U.S. government over years. The success of Binance's operation in other places all over the world has proved its trustworthiness among all users. I guess this is the primary reason why Binance still stays strong despite all FUD and accusations from the U.S government. Anyway, I have followed CZ's twitter account and been watching his tweets for a long time. He is pragmatic and very responsive to any serious news and I am willing to give my trust vote to him. Hope they remain tough and grow even stronger.
It's because of stupid mindset and people get fooled by Binance.
When FTX was accused, many people will move their coins to Binance because any sites list Binance is the biggest and popular centralized exchange. CZ also fool people if Binance is the best place to hold your coins and have SAFU.
But when Binance was accused, there's no centralized exchange is bigger than Binance and people are trusting Binance because of getting fooled.
When FTX was accused, many people will move their coins to Binance because any sites list Binance is the biggest and popular centralized exchange. CZ also fool people if Binance is the best place to hold your coins and have SAFU.
But when Binance was accused, there's no centralized exchange is bigger than Binance and people are trusting Binance because of getting fooled.
for now, binance is very trusted. FUD won't make it fall as easily as other coins. we know that this isn't the biggest problem binance has ever had, and to this day the price of binance still holds up. that's why binance still gets the title of one of the best exchanges available today. It's just that companies that have a centralized system will still get attacks from outsiders, or even from within. we don't know when binance will crash just like FTX, so it's always a precaution for the worst.
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