The developing story is that Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy. FTX is one of the popular exchanges and i think gamblers might be using this exchange to transfer funds to gambling sites as that exchange had no tx fee. Do any of you uses FTX exchange to transfer funds to and from the gambling site?
I don't use FTX exchange, I use Binance instead.
Even if you use Binance exchange to move funds in and out of gambling sites, better avoid it too. Don't you ever think that Binance is safe.
Half of the Binance reserves are in their own token which is Bnb. If BNB falls, Binance will not be able to cover up the user's funds.
Although CZ denied this statement in his tweet here https://twitter.com/cz_binance/status/1591103865528938496 but we can never trust these guys. Who would have thought that SAM and his biggest exchange will become bankrupt?