Post
Topic
Board Bitcoin Discussion
Re: Proof of reserves? Insurance fund? Best I can do is a random number generator!
by
Franctoshi
on 18/10/2023, 12:34:50 UTC
People who still hold their funds in Binance are either ignorant, not aware of the recent events regarding centralized exchanges & lending and earning platforms or they think Binance is too big to fail. If Binance bites the dust they'll be the ones affected and a million other holders of shitcoins, the BTC network will be just fine with or without Binance.
Only fools would see what happens with FTX and still store or keep their cryptos in Binance or any other Centralized, I'm not against doing business with the platform but the message here is never to keep your coin there at the end of the day, and relies on them for safe storage; If as investor/trader, you are not a Safe with storing your funds "self custody" then I assure you no one can, and this reminds me of an argument with someone I know who still believes that Binance is too big to fall,  and since then I see that person as being naughty.

If Binance still claims they are "SAFU" I'm short of words but only time will tell about their sincerity.