IS ๐๐๐๐๐๐๐ UNDER ๐๐๐๐๐๐ โ ๐ฑ
Let's take a deep dive to know what's going on.
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โฆ๏ธThere are few things that are certain in #Crypto : prices going up and #FUD against #Binance .
โฆ๏ธSince the #FTX collapse, Binance has been targeted by regulators, media companies, and individuals.
โฆ๏ธThis has led people to wonder whether regulators will crush Binance.
โฆ๏ธ Letโs see what the FUD is around Binance and its impact on the market and your portfolio ๐
1๏ธโฃ SEC charges BUSD issuer
โฆ๏ธRecently, the #SEC charged #Paxos with selling unregistered securities.
โฆ๏ธPAXOS issues #BUSD and BUSD is supported by Binance.
โฆ๏ธBinance even charges 0% trading fees on BTC/BUSD pairs.
โฆ๏ธBUSD market cap has dropped by $2.5 billion since the SEC charges. But still, Binance is operating as usual.
2๏ธโฃ Kevin targets CZ Binance
โฆ๏ธKevin O'Leary has been targeting #CZBinance for FTX demise since the collapse of FTX.
โฆ๏ธ Kevin has said it numerous times that Binance is a big, unregulated entity, and regulators should clamp down on it.
โฆ๏ธHe also claimed that the BNB token has no utility, despite the fact that the #BNBChain has the 3rd-highest #TVL .
โฆ๏ธHe also mentioned that the top 2 wallets hold 97% of the total #BNB supply, which is wrong as the top 10 wallets hold 42% of the total supply, and some of them are exchange wallets, which hold assets on behalf of millions of customers.
3๏ธโฃ Media reporting false news
โฆ๏ธYesterday, #Bloomberg reported that Binance is planning to delist all US-based tokens.
โฆ๏ธThis sent fear into the market as people thought US-based tokens would dump.
โฆ๏ธLater, CZ clarified that itโs false news and they are just pausing some investments in US companies.
WHY SHOULD YOU CARE?
โฆ๏ธDespite numerous baseless FUD around Binance, it is still standing strong and operating as usual.
โฆ๏ธThere are a few worries around Binance, especially after the charges on PAXOS, but they will probably be short-lived.
โฆ๏ธBinance is a behemoth in the crypto space, and any harsh regulations on it can deteriorate the entire market in the short term.
โฆ๏ธSo the best thing one can do is to take out your coins from exchanges. Always remember โNot your keys, not your coins.โ
Who is behind this coordinated attack on Binance?
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