@brando28
Binance FUD raging. - ALTs down, BTC & ETH doing ok at least for now. - Volatility ahead, CPI numbers today and FOMC meeting tomorrow - GLX went up a bit - GLG pack rewards should go live today!
@brando28
@brando28
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4 comments
Yeah I withdrew from Binance mostly yesterday. No point hanging around on the deck of the Titanic!
Think that was a wise decision! Better safe than sorry. I haven't had anything on CEXs in a half year or so
If Binance is solvent, which it most likely is based on its cold wallets (tho we don't know their liabilities as they never made them public), there's no point in keeping your money in a CEX rn unless the risk/reward ratio is worth it. The latest behavior of Binance and CZ are a bit sus tbh. And if the US govt goes after them, things can turn ugly pretty fast. Last, who knows what info SBF is willing to share in order to reduce his sentence. He might have dirt on other actors & exchanges as well.
It's been something like half a year since I held anything on any CEX. I wonder why people still do it. To me, the only functions of CEXs are deposit/withdraw fiat and moving assets in/out to DEXs. Hey, yeah! Just read SBF got arrested! This is supposed to be the biggest week in crypto this year. And it just started! Bring the popcorn.