Quote from: KingsDen on November 27, 2023, 04:45:54 PM

When binance boosted about their reserves, many of us thought it was a joke and today we have seen that binance is able to pay any fine and still stand strong.

I thought BNB will drop upto 50% after CZ resignation, but I wasn't even upto 10% and has already corrected. So, there's no other FUD that will pull the market down. Binance is in auto pilot and doesn't need 100% intelligence to keep working.

BNB is a centralized token controlled by Binance exchange, the price is been manipulated by the exchange and with their burning mechanism they're attracting more gullible investors. It's not a surprise that the token didn't get much price dip because they haven't been found guilty of doing anything that affect the community so they still have the trust of the community. Cz move also is been praised all over the industry as sacrificing himself for the wellbeing of the industry so people are still buying into the crab that they're selling. I didn't expecting expect the token to fall too as there wasn't much heat instead support because the stories is been spread as the government against the industry and investors will naturally side with the industry, but this is just the fed against CEX.

What I can say is the Fed wouldn't be giving up and other things will work in their favor, already Binance exchange partners are now the target with law suits which might drive away potential business partners which will dry the pockets of Binance and their reserves. The only way I see them combating the lack of revenue that would soon be their problem is to charge more for listing fee and list more altcoins but soon they'll run out of projects to list or their listing won't have much effect on projects growths anymore, making them to lose patronage from crypto products. The money will move over to other exchange and then the so called reserve will dry up and the crisis begin to unfold in front of our eyes.

The mistakes most people commenting on this issue is making is thinking, Binance exchange is too big to fail but no CEX has such quality. The fine wasn't a big money for an exchange like Binance exchange but when they can't replace the money to keep their reserve up then we'll begin seeing similar situation to other CEX that has seized to exist in the past.