Post
Topic
Board Service Discussion
Merits 8 from 4 users
Re: *warning* Huobi insolvency rumours
by
pawel7777
on 07/08/2023, 08:12:07 UTC
⭐ Merited by o_e_l_e_o (4) ,vapourminer (2) ,hopenotlate (1) ,Z-tight (1)
Overall, i think we should not panic and do not recommend others to withdraw there funds until they make some announcements because such panic and quick withdrawals will left that exchange no other choice but bankrupt only. I know it's not an acceptable option for the members who have there funds on that exchange but still i think a little patience is necessary.

Disagree. First of all, nobody should be using centralised exchanges as wallets. But most of all, if you claim that people withdrawing funds will make them go bust, that would mean they've been using fractional reserves banking, which alone would be a good reason the get out of there.
But if the rumours are true, maybe at least some of their customers will manage to escape before it implodes.
And frankly, if you had any funds in there, I don't think you would take your own advice of just sitting and waiting for the announcement, so don't advise that to others.