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RE: ARE YOU WORRIED about the potential collapse of BINANCE?

in Project HOPE2 years ago

Dear @crypto.piotr a valid concern indeed.
Binance currently is the last centralized standing tallest amongst all others. That being said I have to say that there is a lot of suspense about the actual state of affairs of Binance.

Binance is like a closed box and no one knows for sure what is happening there so the best approach is to be optimistic yet cautious.
Thus my approach is that of cautious Optimism.
Perhaps CZ is spreading the risk and if you notice he has been spreading the word and promoting trustwallet the decentralized wallet of Binance.
Pair it with the binance smart chain so perhaps he is trying to maintain his leadership position as a centralized exchange and in case people lack faith they can switch to trust wallet and do a decentralized exchange either from within the app or via one of the many dapps on BSC.
It may not be giving a 100% coverage for all the coins and tokens but it sure would allow users to move funds from Binance centralized to a dex version and still have a hold over the client base and all the BSC transactions do earn him the BSC transaction fee as well.
So he is spreading the risk yet trying to maintain his client base.

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 2 years ago 

Thank you for this amazing comment @thetimetravelerz

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