Post
Topic
Board Bitcoin Discussion
Re: CZ Sentenced, Your Bitcoin in their Custody
by
Ale88
on 03/05/2024, 01:33:13 UTC
But CZ being in prison doesn't mean that Binance will stop working (especially when we're talking about the global exchange) or that people wouldn't be able to use the funds they have there. I'm all for self-custody and I don't keep funds on exchanges, but I'm just pointing out that this particular news on CZ probably doesn't affect the money on the exchange.
CZ already officially stepped down as CEO months ago, and he did it exactly to prevent any possible bad outcome from the sentence he was going to get. Binance has already been operational without any problem for months since he renounced, and companies big like Binance don't rely on one person, they are like machines, they keep going. Even companies like Amazon, Microsoft, Apple... They could lose their CEO one day to the other but nothing would happen to the whole company.