From Reuters:
Binance withdrawals hit $1.9 bln in 24 hours, data firm says
Binance has registered $1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.
How crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits is under close scrutiny from users and regulators. FTX founder Sam Bankman-Fried was charged by the U.S. Securities and Exchange Commission on Tuesday with defrauding investors.
Binance, whose dominance of crypto was cemented by the fall of FTX, last week tweeted a so-called proof-of-reserves report by audit firm Mazars. The report showed its holdings of bitcoin exceeded customer deposits on a single day in November...
But you're... you're thinking of this place all wrong. As if I had the money back in a safe. The money's not here. The money is 1s and 0s on a server somewhere in Utah or Belgrade or Dalian, China and its value is whatever we all imagine it to be.
If only they'd used [checks Forward Party script] ranked choice voting.
The Money Goes Here
4 comments:
I've read that crypto billionaires are mysteriously disappearing. Not just their wealth, but the people involved. Either they figured out a good way to hide themselves or else doing business with drug cartels and money launderers and losing their money was a terrible business strategy that is paying out the ultimate negative dividend.
After the Silk Road went tits up there was officially nothing crypto was good for. I'm with Dr. Krugman on this when he calls crypto "Dunning Krugerrands."
-Doug in Sugar Pine
Not I
I didn't get fooled by this crypto nonsense.
I went for the Monopoly cash. Once you own the bank in Monopoly. You gain full control to bribe(I mean influence) any republican be it in congress or the high court.
It is how the game is won, unlike the arrested in the islands ending for the Crypto king.
The politics of Bitcoin are weird. When I first got into it I thought it would be more Liberal. Foolishly, for the most part, because of course the Libertarian bent is super intense. Regardless, I personally am a believer in BTC and think that if you’re willing to spend 10 hours learning about it, it might become something you think is worthwhile. It also shouldn’t be thought of as a cryptocurrency really, it’s more of a commodity.
Otherwise, the rest of these alt coins and crypto casinos are ridiculous and need to be regulated.
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