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Should crypto be worried about Binance?

W

e're going to dig as deep as we can into what Binance have been up to, their struggles in Malta and what CZ seems to be up to in the industry. We're not going to be doing a review of the Binance platforms or various additional revenue streams in much detail unless they highlight things of interest. The main reason for this article is the over exuberance of the crypto press in their constant support and praise of Binance and founder Changpeng Zhao. Binance have no holds barred access to any positive press they require, while $40m hacks are very much glossed over.

TL/DR - we don't like CZ much and he tweets BS all the time, Binance seems to be trying to take over the entire industry, known as monopolisation, they've hidden hacks, bought up price markets, used user funds to control network voting (Steem), more than likely directly control the price of the entire market and it seems highly likely CZ owns or has some direct control/influence/naughty photos over Coin Telegraph.

Is Binance legit? does CZ own Coin Telegraph? and what is stopping Binance controlling the entire crypto industry now, including it's prices?

Is Binance legit?

We're not here to say it's not legit. it works, it's a hugely powerful crypto exchange, but it's how powerful it's become that is the worry here about it's legitimacy.

So what do Binance have going on?

Binance exchange

Binance DEX

Binance Futures

Binance Charity (hmm)

Coin Market Cap

Binance Lending

They like to make Tshirts and Hoodies apparently

And CZ tweets, a lot.

Binance owns Coin Market Cap - yes really!

The signs are already there with regards to Coin Market Cap ownership, as highlighted on Reddit by eagle eyed traders - although not for the reasons that make this so concerning. I mean, it wouldn't be right to rate your own exchange and rank it #1 would it?

https://www.reddit.com/r/CryptoCurrency/comments/gvsgny/according_to_binance_we_shouldnt_trust_binance_100/

Binance is holding serious volume of some big currencies due to users storing their holdings on the exchange, which has not worked out well for tokens like STEEM, more on that below.

https://www.reddit.com/r/nanotrade/comments/gvrrit/please_take_your_nano_off_binance_and_into_a/

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May 1, 2020
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