Post
Topic
Board Trading Discussion
Re: Why most of Exchanges FAIL ?
by
EarnOnVictor
on 04/04/2024, 06:47:51 UTC
-snip-
It happen with all and it can happen with Current ones
e.g the last one KuCoin like 7 Days ago two of its founders were charged with violating anti-money laundering laws by U.S.
Be smart and keep your assets SAFE always use a Cold Wallet Your Keys Your Coins

Does this concern you ?
Yes, of course, it concerns me, and if not for my money, but for the money of those who would be their next victim. You can imagine those ones who have had issues of insolvency in the past, what happened to them? Till today, it is promises upon promises, but still, they've not redeemed it and people's money has been trapped ever since then. This is bad, I do not wish it for anyone. But the issue of Kucoin and any others that the US government charges or found guilty of misappropriation and money laundry is not a huge one because the worst is for the brains behind it to be jailed and the company fined just like what happened with Binance and CZ.

Even if they were charged much, the US government is responsible enough to ensure the safety of the company and their customers, so they will not enforce the compliance of the charges in a manner that will cause liquidation. The company will be okay, it is not the first time that companies would be charged with money laundry and I do not think that there are so many global companies dealing with money can be exonerated from that.