Quote from: CryptopreneurBrainboss on Today at 06:05:00 AM

Quote from: Ziskinberg on December 02, 2022, 09:08:54 PM

Despite what happened with FTX, my trust remains in Binance but of course, leaving funds in them is not the thing we do, never.

It was not the right thing to say "we never trust an exchange" because they are also the ones who make this crypto market alive.

Why do people always think this, the ones making the industry alive is you and me and not the centralized platforms that cares nothing about the industry but only wants to enriched themselves. I bet people would had thought FTX gives a fuck about them too (the customers) but what they didn't realize was that FTX was just making use of their money to enriched themselves. Reports just came out that FTX wasn't selling any real Bitcoin to their customers and I won't be surprised if that's what is happening in other centralized exchange as well.

This guys are just displaying virtual representation of coins which is why when there's a massive withdrawal pressure, they paused withdrawals as they don't have the liquidity they claim to have. No centralized service providers should be trusted irrespective of how genuine you think they're. Binance is one of the worst and should be approached (used) with caution that's if you aren't comfortable with other alternative because when Binance will collapses, the impact will be more catastrophic than FTX was.

I can bet you that 99% of centralized exchange don't have the liquidy their claim and if going by recent events I the industry have further exposed the scam operation of some too-centralized platformers truth is I don't trust any of them with my bitcoin, all I use them for is for a small transaction that will not even make up to $1000 and I make sure I transfer my balance to my wallet.

Most of the CEOs of centralized platforms are using customer money for personal use, reports from investigations revealed that FTX CEOs transferred billion of dollars from the company account for personal use.