And there you go assuming they are showing you 'real' numbers. For years exchanges have been been throwing up fake trades / allowing wash trades and all kinds of things to make them look larger then they really are.
So no, I'm not worried. Actually if Binance goes the way of FTX except for a short dump of price as everyone tries to get their funds out it would only help BTC
Not your keys, not your coins.
-Dave
What way do you think that it will benefit bitcoin? It shouldn't be hard to understand that your keys = your coins is not something that attracts average user. If you want bitcoin or crypto adoption overall, then this coin should become easier to use for average person. What Binance does is that it makes the whole process easier, you don't have to worry about your keys and you can open one account where you'll store almost every coin. This is what average crypto user wants and without them bitcoin can't become widely accepted.
The problem here is that exchanges do whatever they want. No one gives a f that they fake volume, no one cares who does what, there is an anarchy-like system. I also genuinely believe that exchanges fake futures trading to liquidate their users' assets and earn more money.
However, KYC can also compromise anonymity and privacy, which are often highly valued by cryptocurrency users. Some argue that the need for KYC goes against the decentralized and borderless nature of cryptocurrencies, and can even put users at risk of data breaches and identity theft.
If you don't want to compromise anonymity and privacy, there are non-kyc alternatives. But if you want to get top-tier service, then you have to compromise something. Anyway, everyone has to compromise something in order to achieve what he wants. At the moment it's reality and it can't be changed and yeah, I know that elites do all kind of shit through regulated companies.