Crypto collapse: Binance is not so fine, FTX Delaware vs. FTX Bahamas(amycastor.com)
amycastor.com
Crypto collapse: Binance is not so fine, FTX Delaware vs. FTX Bahamas
https://amycastor.com/2022/12/18/crypto-collapse-binance-is-not-so-fine-ftx-delaware-vs-ftx-bahamas-celsius-voyager-gemini-tether/
10 comments
> It has taken a long, painful time to get here but I think the public is starting to wake up.
I wish, but that's not how people work. In five years there'll be a new craze. Maybe a self-programming computer, the latest fruit of AI, and underneath it'll actually be a pyramid scheme combined with a federated Mechanical Turk service.
I wish, but that's not how people work. In five years there'll be a new craze. Maybe a self-programming computer, the latest fruit of AI, and underneath it'll actually be a pyramid scheme combined with a federated Mechanical Turk service.
"The Weasel of Wall Street". LOL.
A depressed weasel with ADHD. The movie will be quite boring.
A depressed weasel with ADHD. The movie will be quite boring.
The article contains a number of serious factual errors (Binance sold their FTT, they're not still holding it and pretending it has value). It also implies different things are the same (e.g. BNB != BSUD). I am not sure if that's because of honest ignorance or a dishonest attempt to deceive, but it isn't good either way...
I can only say that you have misread the article if you think it said either of those things.
While the article didn't explicitly make those claims, it's still trying to imply them. For instance
>Why Binance may not have as much money as they want you to think
>When FTX bought out Binance’s share in the company, Binance got paid $2.1 billion in funny money. CZ told Squawk Box that “it was all in FTT tokens, which are now worthless.” [Twitter]
A strict reading of this would be that Binance lost some non-zero amount of money through their FTT token holdings, because they became worthless. That's factual and not in dispute. However, by omitting the fact that they sold their FTT tokens prior to them going to zero, it's pretty obvious that they're trying to imply that Binance took a total loss on their FTT holdings when that's not the case.
>Why Binance may not have as much money as they want you to think
>When FTX bought out Binance’s share in the company, Binance got paid $2.1 billion in funny money. CZ told Squawk Box that “it was all in FTT tokens, which are now worthless.” [Twitter]
A strict reading of this would be that Binance lost some non-zero amount of money through their FTT token holdings, because they became worthless. That's factual and not in dispute. However, by omitting the fact that they sold their FTT tokens prior to them going to zero, it's pretty obvious that they're trying to imply that Binance took a total loss on their FTT holdings when that's not the case.
you're admitting it didn't say what the misreading claimed it said, while claiming it somehow still totally means something you already admitted it doesn't, in fact, say. ok lol
It is going to be an interesting week for Binance. Let us see if these bank hour excuses hold any water
this article is misleading, not very good journalism to be honest. I’m not a crypto bull or bear, but looking at how the “facts” are presented in this article you can clearly see the bias.
I think reality has a very clear bias when it comes to crypto. The expectation that somehow there are two sides is hilarious at this point
It has taken a long, painful time to get here but I think the public is starting to wake up. More people are starting to smell the "tech" BS.
Of course, some HN voters and commenters will not like that. But it's happening, like it or not.
Selling advertising services and fake money. These are the only "business models" they can come up with. "Tech" BS worked in times of quantitative easing and dirt cheap debt. But those times are over.