PSA: the actions of binance are best explained by insolvency

edit for readability: that is primarily for for ****

This can be a **purple alert to all bitcoin holders to not use the trade**. You’ll be able to assess the info your self by going to the r/binance subreddit, and seeing all of the assist requests for locked accounts. When you search for a sample, you’ll discover that accounts making an attempt to switch cash *out* are locked down, and no one making an attempt to switch cash in.

A comfort pattern:


These are the info. I haven’t got any further details about binance, and may’t make an announcement of reality. Nonetheless, the very best clarification to totally clarify their actions is that **binance. us is bancrupt, and ought to be handled as such**.

It pains me tremendously to say it, as a result of I would like your deposits to attain my very own withdrawals, however I can not in good conscience be silent about this.

If it provides something to my credibility, I’m a MtGox survivor, and managed to get my funds out simply in time again then. Largely as a consequence of listening to warning like this one.

Bear in mind children: not your keys, not your bitcoin.

edit for a prediction:

if there may be any fact to this, the subsequent factor that occurs is their trade charges begin to diverged different exchanges, as they attempt to entice depositors with extra crypto per greenback, or trade charges close to zero.

when you see this occur, it is a good larger purple flag.

second edit: I’d assume that monetary information companies just like the WSJ can be throughout this given their latest curiosity in reddit, however they’ll see all the identical submissions on r/binance, and are not connecting the dots.

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