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CointestMod

Binance Coin [pros](/r/CryptoCurrency/comments/z3obri/we_let_ftx_get_too_big_before_we_started/ixmol3m/) & [cons](/r/CryptoCurrency/comments/z3obri/we_let_ftx_get_too_big_before_we_started/ixmolyq/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).


kryptoNoob69420

Isn't Binance the biggest CeX?


Xpressivee

Literally


KatanaSw0rd

The hugest


Odysseus_Lannister

Who is we, CZ?


MostlyPseudonymous

I think it's basically the 'royal we'.


ShowMeDaWe

He's probably speaking French


Tavionnf

He and Gensler, I assume.


Fuglypump

Me myself and I


Xpressivee

And *high


FldLima

**Disclaimer**: This comes from the the biggest crypto monopoly shark currently at the world:


Former-Form-587

The lack of self awareness from CZ is astonishing.


A_BC12

>We let FTX get too big before we started questioning. Same for Binance dear CZ...stop being a hypocrite.


3InchesOfThunder

yeah who the fuck is going to tweet about CZ next??


Jay_Bird_75

Well he tried the same with Coinbase and CB shut him down with a quickness…


kirtash93

Binance invested and helped them to grow. This is on you CZ, your kid went rogue.


Picoton

He is right. So now we can start questioning Binance and CZ with enough time, right?


TheOtherCoolCat

We are already doing that. He's standing strong so far


steveblobby

Strong eh? He caused the bank-run that killed FTX, rightly or wrongly, followed it up by Fud'ing Crypto.com and causing the value of CRO to get halved, then Tweeted more Fud about Coinbase, which he hurriedly withdrew and made excuses about. All the while keeping his business very private. He's dogshit, absolute poison.


tamaleA19

Absolutely agree. It worked for him with FTX so he’s trying to pull the same stuff with all his competitors. Meanwhile he continues to maintain a risky house of cards of his own with Binance


steveblobby

Yep. You only have to look at the problems Binance has had with Monero to realise that it's highly unlikely that they hold 1:1 of clients assets. With XMR, I have read but can't prove that they only hold a few thousand, but have millions on their books. I'd piss myself laughing if they ended up with liquidity problems themselves, if it wasn't for the fact that normal people would be impacted.


Picoton

Totally agree, he knows the effect that his accusations have and go pointing the finger to all his "partner" exchanges, but then he tweets about "building together".. People need to stop adoring billionaires and put them into the light, CZ didn't present a proper proof of reserves and neither their liabilities in time, Binance is a bomb waiting to explode too.


Outrageous-Duck9695

>He caused the bank-run that killed FTX, rightly or wrongly, lol


steveblobby

Yeah, I wasn't saying he put FTX in such a poor state in the first place, but his panicking investors into massive withdrawals over the course of a few days certainly made it fall off a cliff, where some mitigation may have been possible otherwise.


Outrageous-Duck9695

Sure, they might have stolen more people's money had they not have been exposed. These idiots had an $8 billion hole in their books, they were not coming back from that. For the greater good, all these exchanges gambling with customers coins need to be exposed. What you and Binance haters sound more like the mob that is angry he snitched and exposed a criminal organization.


KingGroovvyyy

No one’s mad that he took down FTX, but everyone is starting to question CZ’s intentions in doing so. Especially after he started throwing FUD at other competitors (CDC and Coinbase) then saying “oops didn’t do enough research sorry”.


ExternalOk4293

CZ wants it all!


weirdbird6000

I guess he was too busy laundering money for russia and iran at that time


Maxx3141

Oh the irony...


Scarecrow4980

"we" let FTX get too big? hmmm. coming from the biggest cex. oh the blatant narcissism!


z0uNdz

Good guy or bad guy, you need to at least appreciate CZ bringing all of this to light. Better now than later when the market matures and more people would be affected


Longjumping-Quiet-77

more than likely this will cause shakey legs with new investors


coinfeeds-bot

tldr; Binance CEO Changpeng Zhao has said that he expects to see "a little bit of contagion" in the crypto industry following the collapse of failed crypto exchange FTX. Zhao added that the industry needs to question its peers to avoid a similar situation. He also said that Binance is setting aside $1 billion to look into buying distressed crypto assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*


Xpressivee

In other words all hail mr.....


DefiniteOptimist

By this logic, binance should be getting questioned veryyy aggressively. How is this not hypocritical?


GiveitToYaGood

Binance trying to sound like an authority figure


Moist-Gur2510

He’ll regret tweeting if a bank run starts on Binance as a result, leaving only Coinbase standing in the wake of the crypto apocalypse.


rundown03

Atleast it happened already during a bear market. Most people won't see any of this.


steveblobby

Maybe you're right. If all this dropped in the middle of the Nov/Dec bullrun, it would have been absolute carnage, not though it isn't pretty bad already.


[deleted]

[удалено]


TheOtherCoolCat

What? A simple tweet did make a difference.