Binance is currently on everyone’s lips. In the last few days, various messages have shaped events around the crypto exchange with the highest turnover in the world. Nevertheless, CEO CZ continues to focus on growth and wants to take a leading role in crypto adoption. As some traditional financial firms withdraw from the digital currency market after the FTX crash and Terra collapse, CZ warns TradFi firms of grave consequences. Because a withdrawal would damage traditional financial service providers in the long term and only slow down crypto adoption.
Gaming token with 10x potential – learn more about Meta Masters Guild
CZ rails against financial industry: withdrawing from crypto would be the death sentence for TradFi
Traditional financial companies were recently targeted by Binance CEO CZ. Because this instructs the traditional financial industry not to turn its back on cryptocurrencies. Because the withdrawals from the digital currency market are only short-term hurdles for crypto adoption. Cryptocurrencies will still prevail, traditional financial companies will face significant problems in the next 10 to 20 years. Because the adoption curve has been unforgivable since then and a significant gap compared to the competition could mean existential dangers for TradFi.
as they really hampered traditional financial players to adopt the technology, and will likely cause them to be further behind on the adoption curve, which may have existential implications for them in 10-20 years time.
— CZ
Binance (@cz_binance) January 27, 2023
Falling Confidence After FTX Crash: Are Institutional Investors Coming Back?
The collapse of the Terra network after the stablecoin was decoupled from the US dollar already led to a significant loss of confidence and caused a dramatic flight of capital in the bear market. The FTX crash confirmed the fears of many institutional investors. They decided not to stick with their investments. The spectacular collapses of the central crypto service providers could have set the crypto industry back several years. According to CZ, regulation is now essential in order to move institutional capital back into the digital currency market.
Binance Focuses on Growth: New Employees & Expansion in the Bear Market
While Crypto.com, Coinbase & Co. are laying off employees or restricting their expansion, Binance wants to take a different approach. The current bear market is therefore ideally suited to set the course for growth. As a result, you will hire new employees, identify takeover targets and perfect your own offer.
Will try to keep 2023 simple. Spend more time on less things. Do’s and don’ts.
1.Education
2. Compliance
3. Product & Service4. Ignore FUD, fake news, attacks, etc.
In the future, would appreciate if you can link to this post when I tweet “4”.
— CZ
Money laundering investigation, Bitzlato connections & incorrect custody of customer funds – criticism of the CEX with the highest turnover
The US judiciary has been targeting Binance for several months. The allegations are money laundering. The US judiciary hovers over Binance like the sword of Damocles. According to current reports, the focus of the US judiciary should not dwindle, quite the opposite.
The ban on the Russian crypto exchange Bitzlato was publicized by the US judiciary. There were close ties between Bitzlato and Binance. After all, the CEX Binance, together with a darknet drug place and a scam website from Russia, is one of the top transaction partners of Bitzlato.
Recently there have been reports of a serious error in CEX-Binance. Because the crypto exchange accidentally mixed customer deposits with the token collateral for its own B tokens. On-chain data indicated over-collateralization, suggesting asset commingling. Binance admitted the mistake, but expressly pointed out that all tokens were secured 1:1 and will continue to be so in the future.
This new gaming token could be better than Axie Infinity
Author: Daniel Robrecht
After studying law and management, Daniel decided to work as a freelance author and has been writing qualitative publications on various specialist topics for around 10 years now. As an investor, he gained years of experience with stocks & cryptocurrencies. In addition to a long-term investment approach, Daniel is also passionate about short-term markets. Through targeted further training at international universities, he has acquired extensive knowledge about the capital markets, stocks, cryptocurrencies and decentralized finance. Daniel’s primary focus is on general market trends, exciting stocks, business news and the digital currency market. In his private life, too, there is never a day without the financial markets. As an author, Daniel writes for leading German-language publications in this field. Daniel publishes for Finanzen.net, among others, Business2Communityand FXStreet.de. Daniel on LinkedIn.
“Investing is speculative. When investing, your capital is at risk. This website is not intended for use in any jurisdiction where the trading or investment described is prohibited and should be used only by persons and in ways permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. So do your own due diligence. This site is available to you free of charge, however we may receive commissions from the businesses we feature on this site.”