The Binance Black Hole: How CEXs Are Sucking Crypto Dry
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we weren't hit as bad by Ftx or Luna the way binance did hit on 10th October when everything crashed to zero.
It just exposed crypto ecosystem is built on one big scam and it could go down -90% in minutes for no obvious reasons.
I wasn't wrong when I said crash on that day happened because of no reason, the tariffs were there from a long time and everyone knew about trump imposing tariff on china is on the calendar.
Never Trust CEX with your Money
Everyone should've learnt their lessons from the ftx collapse to not keep anything ever again on the centralised exchanges.
They're stealing customers money real time by hunting liquidations and constantly listening scam coins to extract more value from the users.
Not even the market makers and funds are safe from these exchanges, I can tell everyone have been hit badly on 10th October the way market is moving now.
CZ want control over entire ecosystem
I'm not hating CZ for no reason, he's done more harm to this industry than anyone can imagine. First he collapsed Ftx single handedly and put Sam only competitor behind the bars
He came out as a hero the way he played entire thing
But later got jailed and $4b to DOJ, came back from jail and started scamming us every moment he got.
CZ is openly saying "solana bad, BnB ecosystem good" "hyperliquid is bad, aster is good"
And it wasn't still enough his greed will consume him
Recently he said "prediction market on BnB" this man is going against every project in crypto just to push his own agendas.
He's a hypocrite who'll say thing like "keep building" and all but he's the sole reason every project in crypto has been going down this entire bull run.
Taking supply and fees from the project to get them listed on exchange so he can dump and get more BnB. He just wants to kill every project in the market to push his own ahead and he's not even hiding it anymore.
Perps on Dex, Spot on Dex
After all, everyone is waking up to the reality that CEX are doing more harm than good to their project and customers money
People are far better moving that money from CEX to Dec that now have futures as well as spot.
Like hyperliquid alone can beat binance propaganda because the founder is legit focused on making a decentralised ecosystem rather than killing projects like cex are doing.
Hyperliquid has made the entire ecosystem so big at the cost of what? They take so little out of ecosystem and are only providing value
While projects literally take hundreds of million of dollars out of ecosystem and build nothing but shit.
As if pump, extracted over billion but gave back nothing.
Hyperliquid probably took out $10 to $20 million and gave over hundreds of millions to community and a project that is running.
On the other hand we have Leodex another gateway to do perps trading.
The time isn't far when CEX will be nowhere to be seen and will only be known as bad actors, thieves in the market and only then we'll see progress and coins going up again.
I believe you all know that by now and would love to know what's your thoughts in the comments.
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I completely disagree with you saying it is a scam. For the reason you said. No market has ever been accurately and definitively valued by ordinary users and it cannot be because of the amount of liquidity we have, even the total liquidity of ordinary people does not reach the liquidity of a bank. We and our likes can only make a small profit in the market movements, in fact, the main profit is made by big capitalists and banks. It has always been like this. Do you have a million dollar capital to invest in them? If you did and you were one of them, would you be making this post and saying these things? In what way, with what analysis and information, what currency or technology do you invest in that you talk so angrily? I also have no information to comment on the exchanges you mentioned in this regard. I recommend that you stay calm. These things always happen in times of recession and decline.
In a few words, the market will always be to the favor of big bag holders. Every system has its cloning, let me not cast blames, we are talking of humans here who are swimming in greed. The rich wants to be richer, the middle class wants to be rich and in-between both demands lies 'loss and gain'
yea that's true, way to hard to take money from rich while it's nothing burger to take everything from middle and lower class.
the fact that rich one's will always bail out another rich one is itself insane.
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