Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Biodom
on 21/11/2023, 23:53:11 UTC
Unless they plan some kind of a double whammy on Binance/CZ, i don't understand why the markets suddenly got all bearish-I think markets are faking it right now.
Binace has 12 bil/Q revenue. I don't know not what their profit margin is, but it got to be at least 20-30%.
So, $4bil could be one Q of earnings, roughly.
CZ is worth 50bil, pays 50mil fee, retains ownership.
I don't think that he wanted to be a CEO anymore anyway...maybe Lauren Sanchez has a sister or something or he is attracted to Irina Shayk (as are many other famous people)

To those pooh-poohing Binance and opining about shitcoins (which I typically don't talk about here myself)...
If Binance had gone down, bitcoin would have cratered at least 30%, imho, and bitcoin spread around the world would have been dramatically curtailed since Coinbase is roughly 1/10 of Binance volume, worldwide.
Mind you, I sometimes use Coinbase and/or Kraken because of my location (US), but would I have used Coinbase instead of Binance if i were outside? I am not sure.