Binance to stop tokenization of stocks. I wonder if this was the reason why they got hit so hard. The exchanges did not want Binance taking a piece of their pie.
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Binance to stop tokenization of stocks. I wonder if this was the reason why they got hit so hard. The exchanges did not want Binance taking a piece of their pie.
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I think the fact they are the largest crypto exchange is the reason for the target. This is a way to reign in the crypto market if I had to guess.
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Very true. I think they were trying to remove money away from the crypto exchanges and move them back to the banks/economy since they allowed funds to be withdrawed but not deposited.
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Could be a focus point, they were effectively providing a pegged security. Why trade in stocks on the stock market when you can do it quicker and easier on Binance.
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Yea but I think it ends up being harder for people to track the number of stocks they have as well. For all we know, Binance might of bought printed a bunch of the tokens but not bought the underlying stock.
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This is true which would have caused them issues. They probably just pegged it so there was nothing to protect investors.
I mean smart move on their end, anyone could do it. I could say to you - that stock is worth $5 don't buy from them come to me and I will give you this piece of paper to say you own that stock but from me.
Now I never have the stock and I become reliant on others buying in. Also drawing on other income to supplement the people that increase in false value. But that never really happens. Usually we lose lol
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Well, when you think about it, crypto was basically using these exchanges own "rules" (for lack of a better word) against them. These banks and market makers have manipulated the prices of things for decades with their paper. Gold, silver, oil, you name it, these banks have created massive supplies by using futures, leverage, and options to take the prices where they want them. By creating "tokenized" versions of the stocks, the crypto world was able to do the same thing back at them. Obviously somebody didn't like not being in control of the manipulation....
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Same old.
Regulators just pushing people to unregulated, or DEX based options.
Synthetic stocks aren't going away.
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Wall Street paid government regulation agencies and their affiliates are doing to CZ and Binance what they have been doing to Elon and Tesla; looks like to me!
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