Introduction
I am not acusing Binance of Pumping and Dumping, but if it walks like a duck, and talks like a duck... it's hard to call it a chicken.
Binance's actions don't match it's words.
- When the words of Binance X accounts promote the idea that we are in a bull market and there are big profits ahead. But at the same time Binance is selling huge amounts of cryptocurrency, driving down the price of bitcoin and other cryptocurrency, well... their WORDS, don't match their ACTIONS.
Plus when they sell large orders, this drives down the price, potentially trigger liquidations in the accounts of people who are highly leveraged, triggering losses through liquidations for retail traders.
Their ACTIONS suggest a completely different view on the market then their WORDS, and this looks like a deception.
Background on this topic
For the past couple of months, the company Binance has been in trouble again. People started saying that Binance was cheating to change the prices of crypto. They were accused of doing this with Bitcoin, Ethereum, Solana, and even Binance's own coin, BNB.
The accusations say that Binance was secretly selling huge amounts of crypto all at once to make the prices crash. When the price crashes, many regular traders who bet the price would go up lose all their money. This is called a "liquidation." People who track crypto transactions saw that over two billion dollars in Bitcoin was sold in just a few weeks. These sales caused other traders to lose more than $1.2 billion. In September, we saw the price of Bitcoin fall very fast, from $124,000 down to $107,000 in just a few days, right when these secret sales were supposedly happening.
What makes this really worrying is that the head of Binance, a man named CZ, was saying one thing in public while his company may have been doing the opposite in private. On Twitter, CZ was posting positive messages, telling everyone that the good times for crypto were just getting started. But if the accusations are true, Binance was secretly causing prices to crash, making regular people lose their money, and profiting from the chaos they created.
This reminds us of an old warning from the first crypto believers.
- They warned that big companies in charge, no matter how nice they seem, can use secret information to cheat people.
- For the average person with crypto, this should be a wake-up call. Big companies like Binance are not just fair places to trade.
- They control everything and can easily cheat.
The whole reason Bitcoin was created was to get rid of powerful bosses like this.
- The creator of Bitcoin, Satoshi, wanted a system where everyone agreed on the rules, and where everything was open and honest so that nobody could be cheated.
So, what should you do?
You need to protect yourself by taking control of your own crypto. If you plan to hold crypto for a long time, you should keep it in your own "hardware wallet," like a Ledger, Trezor, or Bitbox. With these, you control the keys, not a company. For trading, you can use "decentralized" platforms like Uniswap or Dydx, where you never have to give your crypto to a company to hold.
Binance will probably say these accusations are not true, and the government may never prove them.
- But for regular users, the lesson is simple: using a big, easy-to-use company always comes with a risk. Giving one company that much power is like planting the seeds for them to one day betray you.
The real problem isn't just about one company cheating.
- It's about the risk of trusting any big, central company.
- When you trust a company to hold your money and handle your trades, you are giving them enormous power over you.
- History has shown us that these powerful companies will almost always use that power to help themselves first, even if it hurts you.
So, the advice is the same: move your crypto away from these big companies.
- Keep it safe in your own wallets.
- This might be slower and not as easy, but it’s the only way to follow the original dream of crypto: money that is fair, open, and can't be controlled by a single boss.
Last Words
The warning from crypto’s early believers is clear: big crypto exchanges might be fast and easy, but you can’t see what they’re doing behind the scenes.
- This makes them just like the big banks that crypto was meant to fix.
- You are left guessing if you are trading against the market or against the company itself.
- For investors today, the lesson is practical.
- You can use tools to watch where big amounts of crypto are moving.
- And most importantly, move your long-term crypto holdings into your own safe wallets that you control.
In the end, this story isn't just about Binance
It’s about a truth that repeats itself: whenever power is given to one person or one company, it creates a risk.
Sometimes it leads to cheating, sometimes to lying, but regular people always pay the price.
Bitcoin was designed to be the cure for this.
DeFi (decentralized finance), open-source wallets, and peer-to-peer tools give regular people the power.
This doesn't mean big exchanges are useless.
They help people get into crypto.
But history shows they should never be trusted to hold your money for you.
They are tools, and that's all.
Trade on decentralized exchanges like Uniswap, Thorchain and LeoDex
Hold you cryptocurrency in your own wallets, learn how to do it safely, the internet is your library.
The End
@Shortsegments
Thank you for reading my post
This post was written by Shortsegments, who has been writing about cryptocurrency, the blockchain, digital ledgers, bitcoin, ethereum, and decentralized finance; where digital ledgers and smart contracts meet finance, for seven years. You will find his articles here on his blog Link to his blog.
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"You need to protect yourself by taking control of your own crypto. If you plan to hold crypto for a long time, you should keep it in your own "hardware wallet,"
How I wish a lot of crypto traders can read this
Your callout on bullish X posts while heavy selling forced liquidatoins is the key part for me. As an accountant, that mismatch shows up as cashflow that quacks, so yeah, duck it is :) . Self custody for long holds and using LeoDex or Uniswap for fills keeps the incentives cleaner, and HBD’s predictable on chain supply calms the nerves'. Tools are fine, but custody first.. every time.
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Yes indeed they were successful in sowing fear and uncertainty. They will make money selling into the hype they created and then make money buying at the bottom of the crash in price they precipitated. They cannot help themselves it's free money for them, and more bitcoin in the end.and make money buying