I think it's outright comical that Binance performing an unsolicited audit is deemed a "red flag" by some random person claiming to have authority. It's not a red flag because he never had to do the audit in the first place.
CZ has been on the front lines of this entire ordeal basically begging for a bank run across every single centralized exchange, including his own. Binance does not make money from users depositing crypto within their cold storage. They make money on trading fees. They even make a little money on withdrawals as well, so this bank run gives them a slight profit.
CZ poured gasoline on a fire knowing that his house is made out of bricks and the other houses (which are competition) just might burn to the ground. It's basic capitalism and no cause for alarm.
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I suspect that might be the case as well. Binance holding itself to the fire. Whether it's to win loyalty points, prove it is more fiscally responsible than competitors or something else, if they can hold their ground, then there is no doubt it will solidify Binance as THE exchange (it kind of already is).
I trust Binance more than other exchanges and platforms (including Coinbase). The showmanship from CZ puffing his chest makes me suspicious, and it might not be financially related if something is amiss (or anything at all).
There are things we can't ignore, like the ongoing investigation from the DOJ, with there allegedly being enough evidence to charge CZ and other executives for possible money laundering and criminal sanctions violations.
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I think it's quite obvious that Binance allows hackers to freely slosh crypto through the exchange.
We've seen it happen first hand as far back as the wLEO hack.
There's a case to be made that illegal activity is going down, but it doesn't matter.
That's the price that gets paid on a libertarian system operating out of a dozen countries.
The DOJ has no power over the situation.
Its just a PoV... that he wanted this. I think he didnt .... its a huge risk and a gamble to play a game like that.
You cant ignore a lot of the voices ... even if they are 100% backed, there is something else there. Maybe money laundering? Remember CZ is friend with our man Justin Sun.
Plus there is a chance for big regulatory pressure for Binance now having in mind their no office thing ... and maybe even court cases.