Binance in trouble

[glockman]

Michael Saylor dispensing wisdom like he usually does, rather effectively I might add. He owns 17,732 BTC and his company MicroStrategy owns 130,000 BTC.

 

[glockman]

Binance Deliberately Caused FTX Collapse: Kevin O’Leary​

Mathew Di Salvo
Thu, December 15, 2022 at 8:52 AM

Canadian entrepreneur and “Shark Tank” star Kevin O’Leary today slammed crypto exchange Binance—and claimed it caused the collapse of FTX on purpose.

Speaking at the Senate Committee on Banking, Housing and Urban Affairs hearing, the celebrity businessman also said Binance is a “massive, unregulated monopoly now.”

 

[Dr Christopher Cheok C S]

 

[Dr Christopher Cheok C S]

Binance outflows hit US$6 billion as Auditor halts "proof of reserves" works
https://www.ft.com/content/bb50a204-5239-4db0-9964-c3bf9339c594

 

[Loofydralb]

even at least tulips can go and plant and grow. these "coins" serve no useful purpose except for facilitating money laundering.

That in a nutshell is why virtual currency is here to stay and money transfer companies like western union will go kaput.

 

[Singapore Dancing Spirit]

Well, what else you want to expect as Binance is a Chinese digital asset exchange currently sitting in the top 20 exchanges by volume.

 

[blackmondy]

90withdrawals slower now because... ...

All tiong companies have ridiculously high leverage, that's why their economy is so fucked now.

 

[blackmondy]

Binance in name.
Chinance in practice.

 

[Singapore Dancing Spirit]

Binance in name.
Chinance in practice.

You got it right. Haha

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[Dr Christopher Cheok C S]

All tiong companies have ridiculously high leverage, that's why their economy is so fucked now.

yes, the same goes in my industry.

The cost of making something is $1 but they can sell for $0.95 or $0.90, not because they are more efficient or cheaper. Usually they cut corners or most of them resort to "dumping" below cost to qualify for more bank loans and default the banks. The boss and management continues to pay themselves well with the financing from their banks, being a "fast-growing" company.

Then the same boss from the defaulted company has multiple IDs and restart another company to continue screwing us.

 

[blackmondy]

yes, the same goes in my industry.

The cost of making something is $1 but they can sell for $0.95 or $0.90, not because they are more efficient or cheaper. Usually they cut corners or most of them resort to "dumping" below cost to qualify for more bank loans and default the banks. The boss and management continues to pay themselves well with the financing from their banks, being a "fast-growing" company.

Then the same boss from the defaulted company has multiple IDs and restart another company to continue screwing us.

I've worked in tiong companies and I can vouch for their bo-chup, bo-hiew, agak-agak-tio-ho attitude towards QC. Tiongs are a fucking hopeless race. The Japs should have invaded tiong-cock and cultivate the artisan spirit into this hopeless race.

 

[cow138]

I am just waiting for Bitcoin to implode. Have you seen the stock price of Micro strategy? Don't think that Michael Saylor is having a good time

 

[winners]

I've worked in tiong companies and I can vouch for their bo-chup, bo-hiew, agak-agak-tio-ho attitude towards QC. Tiongs are a fucking hopeless race. The Japs should have invaded tiong-cock and cultivate the artisan spirit into this hopeless race.

The Koreans are also very similar in cutting corners wherever they can. Search for all the complaints on HYUNDAI and KIA vehicles online and how they both refuted customers' warranty claims in the US. One of my ex-colleague had worked with a Korean company before and he also told me the same thing. My present neighbour is working for SAMSUNG in the oil refinery industry and he also said the same. I used to have Korean clients before during my working years and I had also noticed the same pattern. That's why I'm not a fan of Korean products.

That's why that Korean crypto fugitive from Terraform Labs, Do Kwon, is now hiding in Serbia.

Source: https://www.ctvnews.ca/business/sou...ugitive-do-kwon-is-hiding-in-serbia-1.6192409

 

[Singapore Dancing Spirit]

The Koreans are also very similar in cutting corners wherever they can. Search for all the complaints on HYUNDAI and KIA vehicles online and how they both refuted customers' warranty claims in the US. One of my ex-colleague had worked with a Korean company before and he also told me the same thing. My present neighbour is working for SAMSUNG in the oil refinery industry and he also said the same. I used to have Korean clients before during my working years and I had also noticed the same pattern. That's why I'm not a fan of Korean products.

That's why that Korean crypto fugitive from Terraform Labs, Do Kwon, is now hiding in Serbia.

Source: https://www.ctvnews.ca/business/sou...ugitive-do-kwon-is-hiding-in-serbia-1.6192409

It is a simple TRUTH in general that both China and South Korea are unreliable on their products and services!!
Their agenda is to make as much as money possible within short terms jeopardizing their economies. Such folks will not have a long-term vison at all.

Unfortunately, Singapore which had a good reputation in the past, jumped the gun to follow the similar short-cuts in their policies in FinTech because CECA is behind every strategic decision PAP government makes. I knew it, but I can't help. But the rule of thumb, India never has any success stories, but they will NEVER let us succeed too if PAP takes their cunning-advice. Their short-cut ideas may work elsewhere even in USA. But not in SG.

FYI. FTX was collapsed because of an Indian-origin executive was part of co-founder's 'inner circle' that ran crypto empire

https://timesofindia.indiatimes.com...at-ran-crypto-empire/articleshow/95491869.cms

 

[birdie69]

It is a simple TRUTH in general that both China and South Korea are unreliable on their products and services!!



Their agenda is to make as much as money possible within short terms jeopardizing their economies. Such folks will not have a long-term vison at all.







Unfortunately, Singapore which had a good reputation in the past, jumped the gun to follow the similar short-cuts in their policies in FinTech because CECA is behind every strategic decision PAP government makes. I knew it, but I can't help. But the rule of thumb, India never has any success stories, but they will NEVER let us succeed too if PAP takes their cunning-advice. Their short-cut ideas may work elsewhere even in USA. But not in SG.







FYI. FTX was collapsed because of an Indian-origin executive was part of co-founder's 'inner circle' that ran crypto empire







https://timesofindia.indiatimes.com...an-crypto-empire/articleshow/9Will5491869.cms



It is a simple TRUTH in general that both China and South Korea are unreliable on their products and services!!

Their agenda is to make as much as money possible within short terms jeopardizing their economies. Such folks will not have a long-term vison at all.



Unfortunately, Singapore which had a good reputation in the past, jumped the gun to follow the similar short-cuts in their policies in FinTech because CECA is behind every strategic decision PAP government makes. I knew it, but I can't help. But the rule of thumb, India never has any success stories, but they will NEVER let us succeed too if PAP takes their cunning-advice. Their short-cut ideas may work elsewhere even in USA. But not in SG.



FYI. FTX was collapsed because of an Indian-origin executive was part of co-founder's 'inner circle' that ran crypto empire



https://timesofindia.indiatimes.com...tW-ran-crypto-empire/articleshow/95491869.cms

Will Temasek in trouble again like FRX if Binance collapse?

 

[glockman]

 

[nightsafari]

For Traditional currency and saving of your excess funds, there's a back up for all the value in your money u save by bank, government , bonds and other financial institution.
For Crypto, even the exchange also can't gurantee the value of your investment.

the only guarantee in crypto is nothing is guaranteed.

 

[nightsafari]

money laundering ponzi scheme with insane capital adequacy. or rather total capital inadequacy.

 

[nightsafari]

Binance Deliberately Caused FTX Collapse: Kevin O’Leary​

Mathew Di Salvo
Thu, December 15, 2022 at 8:52 AM

Canadian entrepreneur and “Shark Tank” star Kevin O’Leary today slammed crypto exchange Binance—and claimed it caused the collapse of FTX on purpose.

Speaking at the Senate Committee on Banking, Housing and Urban Affairs hearing, the celebrity businessman also said Binance is a “massive, unregulated monopoly now.”

dude. this sounds like tanwahtiu reasoning.

this is akin to blaming england for China's humiliation. The Chinese were already in the hole, only a matter of who was riding them. Similarly, FTX was already in the hole, Binance just delivered the final blow.