This shouldn’t need to be said, but don’t trust exchanges, no matter how friendly their CEOs may seem. Not your wallet, not your coins.


I’m talking mostly about Binance, what with the recent disaster that was the AMA, with them denying the fact that they pushed UST as a very safe investment while lying about what they knew, combined with the recent comments from their CEO saying that if Binance ever went bankrupt, they’d reimburse holders first instead of their investors. Which is a bold claim to make, and one that I don’t believe in the slightest. They’re a company, first and foremost, and companies exist for making money.

Never, ever trust an exchange. Hell, I’d go as far as say don’t ever trust a company to have your best interests at heart. At the end of the day, they own what you put in there, and you’re shit out of luck if things go sideways.

It’s sad this has to be said, but don’t trust them, and don’t defend them. At the end of the day, they’re out for themselves, and no one else.

submitted by /u/Supercharmeleon
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