,
7 tweets,
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1/ The only difference between Binance $BNB and a chop shop is that CZ is breaking down his customers instead of autos.
/2 CZ learned the craft from the best at OKCoin (blockchaintransparency.org) and then honed wash trading techniques at Binance, adding another innovation, charging projects listing fees to pad revenue
coindesk.com/okcoin-cto-cha…
coindesk.com/okcoin-cto-cha…
/3 He managed to sell the entire space on a perpetual money machine known as Binance Coin $BNB that allows him to continuously liquidate a token through a burn mechanism that he would otherwise not have a market for. ()
/4 If you want to understand how Binance works, take a look at $BTT BitTorrent token, which was intentionally priced at 3.5 sat in the ICO on Binance Launchpad with a minimal amount of supply sold into the market.
/5 The rest, in the hands of Binance and Tron, was used to control the market. Why price the coin in the sats? Because when it opens trading at 14 sat, whoever makes that market gets to collect a 7% spread every time a retail fish crosses the book. Not bad money for a free token.
/6 Eventually, people will come to their senses and see Binance for the actor that it is, self-interested, exploitive, and all of this obfuscated by pandering claims to advance blockchain adoption for the good of humanity. 
/7 An addendum - it saddens me to see a more honest business like Bitmex get flogged when everyone gives Binance a pass, even celebrating them. Instead of repute, transparency seems to build animosity in cryptoland.
