Binance is Worldcom?, Binance Exchange Looking Strange.
As of today Binance holds
554,634 Bitcoin | 9.2 Billion in Stable coins
I really never liked Binance the entire theme of
"helping lower gdp countries by expanding operations to uneducated financial employees that would have no thought of what they're doing is fraud"
seems to me to be only a mirage of operating in unregulated financial markets.
You can confirm this as the moment Binance steps foot into a regulated leading gdp country they get investigated and shortly after invited to the SEC and legal operation after legal operation.
Their BNB token similar to FTX seems to show no strength at all pointing to be artificially held up, how much of this could be user funds? that Merkle tree strategy that was proven in effective as you're unable to know if multiple accounts are tied to the same balance, you can sense something off here.
1. Executives leave Binance
2. CEO's stepped down
3. CZ refusing to legally register his business and not addressing seed funding from his Chinese business origins and origin team, I was here I remember Binance and the Chinese white papers back during the ICO.
Some exchanges have registered and pass the SEC regulations to operate experimenting with "cryptos" but Binance is not one of them.
So if you take away the "cryptos" and that leaves Bitcoin as the only legitimate source of income, there is zero chance they can survive spot Bitcoin ETF's + regulated banking apps that will offer Bitcoin services.
I see two pathways only
1.Binance gets acquired by an institution and reborn with the branding. In this case there could be very well one targeting Binance right now to take them down as they know something is off with them, this leads to discounted Bitcoin for your own fund.
2.Binance loses majority of Bitcoin revenue and uses its legitimate reserves to defend their unregistered security "BNB" as nobody will want to be locking up fantasy shares earning zero trading revenue. Expect mass layoffs from Binance in turn to repurchase BNB to defend their entire ecosystem of fraud.
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If it was not clear you don't want anything to do with a company that could lead to your assets being held up in a 10 year legal case of seized property.
The price to keep track of has been marked, Binance seems to be keeping the BNB price above $221.
Some further details why I do not trust CZ he has paid to clean his involvement with Bijie Tech (seed funding of Binance) from most google searches
and his specialty?
his technology startup company, Fusion Systems, which was known for "some of the fastest automated high-frequency trading platforms and systems for stockbrokers."
Is it not shocking his companies share token looks extremely abnormal and very well manipulated by a single large holder?
