Crypto exchanges want to prove that the market can thrive after the FTX collapse.
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Binance has a plan to save crypto—if it’s not too late
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If Binance had any exposure to FTX by the time that they publicly announced, for no practical reason, that they were getting rid of their exposure, then they are at bare minimum as incompetent as the FTX crew.
Regarding exchanges trying to scramble to slap on some lipstick to look like real organizations a sane person might trust with anything more than loose change, the elephant in the room remains Tether, last I checked alleging themselves to be the largest holder of corporate notes in the world.
Lastly, for the love of God please don't call these people by their varyingly ridiculous chosen nommes de guerre; they're running (alleged) billion dollar companies, not world of warcraft guilds.
Regarding exchanges trying to scramble to slap on some lipstick to look like real organizations a sane person might trust with anything more than loose change, the elephant in the room remains Tether, last I checked alleging themselves to be the largest holder of corporate notes in the world.
Lastly, for the love of God please don't call these people by their varyingly ridiculous chosen nommes de guerre; they're running (alleged) billion dollar companies, not world of warcraft guilds.
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How many times does Lucy have to take the ball away before Charlie Brown realises he needs to stop falling for the same old trick. Crypto is a pyramid scheme, the only people who made money were those who got in early and were smart enough to cash out and run the hell away before it crashed and burned.
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"reevaluation" are you fucking kidding me?? How many times does this have to happen? For the love of God outlaw this shit once and for all. It's nothing but a ponzi scheme. It's like everyone is taking crazy pills.
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Let’s hope this is the beginning of the end for crypto and it’ll fizzle out in the year to come.
”Grandpa,” my grandchildren will say, ”what did you do when the world was burning?”
”I only mocked a billionaire who ran a social network into the ground, kids. But at least I never bought into crypto…”
”Grandpa,” my grandchildren will say, ”what did you do when the world was burning?”
”I only mocked a billionaire who ran a social network into the ground, kids. But at least I never bought into crypto…”
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If wishes were horses beggars would ride. You burned down a rain forest and tell me that made you rich. To quote pehash immediately above me "Ashes to ashes, dust to dust".
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Charles Schulz noted, with sadness, after he had drawn the last ever Peanuts strip, that, "Charlie Brown never did get to kick that football".
So, until the end of Earth, I guess, before crypto scams end.
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Longmile149
Ars Scholae Palatinae
Libertarianism makes a lot more sense when you realize that it’s Trojan horse for a cunning group of man-eating bears.
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So FTX was scummy but we at Binance are totes legit!
A complaint about this article and the earlier one (which was worse) isArs the author seems to be trying to "normalize" the crypto "industry". An "industry" that is built on falsehoods and deceit with mostly negative economic impact to society in general.
A complaint about this article and the earlier one (which was worse) is
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I wonder if the FTX people are going to be getting "visited" by employees of the cartels and other organizations that used their services to hide or launder money. I see a movie plot or a new season of "Narcos" here.
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FTX had an audit from an actual CPA. Why should we trust them?
Also crypto.com was caught sending $400M of ETH to another exchange last week. Might be really convenient to have $400M in-house when you're doing your proof of reserves, and hand it back.
Things that are just about as old as this "industry", and thus implicitly still in their infancy:
-Stripe (2010)
-Venmo (2009)
-Marvel Cinematic Universe (2008)
-iPhones (2007)
-Netflix introduces streaming (2007)
At some point you don't get to keep saying "it's early". At some point your industry is small, mistrusted, and irrelevant because it's useless.
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Such a crypto thing to do. Discover one of the major benefits of a central bank, BUT make it really corrupt since the entity running it is one of the biggest competitors in the space …. One that kicked off a bank run that showed that FTX was insolvent.
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Yeah I don't get what they're thinking here - even going so far as to uncritically quote people like CZ and Justin Sun as legit. Probably worth looking into the whole "proof" of reserves thing before reporting that's what's happening too, putting numbers on a web page is not proof of anything, and very large transfers between exchanges before/after attestations also does not exactly suggest legitimacy.
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And still talking bs about "regulation is the answer!". Yes, let's legitimize a criminal enterprise with government regulation! That is exactly why FTX was donating billions to politicians. They were balls deep in that shit, watch this video, it's eye-opening to say the least. A lot is going to come out after this is investigated:
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"Don’t gamble, don’t borrow, and don’t cheat."
Stated totally without any irony about all Ponzi schemes.
Stated totally without any irony about all Ponzi schemes.
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Regulation absolutely is the answer. Regulators should ban all of this shit, or failing that just start enforcing the existing rules we have for real money on this fake money. Which will have the same effect, because without the scams we already have rules about, the fake money does nothing for anyone.
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This comment is spot on. There is nothing early stage about crypto.
If something good was going to emerge it would have by now. Instead all we have is ridiculous energy usage and nothing to show for it.
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No no it's fine! You can be MLM, and I'll be MJ, and together we can really trust that xXx_budsmoka420_xXx has the world's best interests at initiating and executing the most fundamental change to commerce since the introduction of fiat currency.
I actually showed up to say "just let it die" but was thankfully ninja'd early. If your currency/scam/investment vehicle/scam needs this much saving, it's not worth saving, at least not with any pretense of legitimacy.
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Wait. Cryptobros don't trust banks, but they use exchanges. Who have reserves. Which are kept, I assume, in banks.
What am I missing here?
What am I missing here?
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It should be banned. But having some fake regulation dictated by the crypto cons to cover for their grift is the last thing we need.
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