When exchanges desire a bailout fund, that almost all cryptos are scams
Related
7 thoughts on “When exchanges desire a bailout fund, that almost all cryptos are scams”
tldr; Binance CEO Changpeng Zhao has said he’s establishing a recovery fund to help people in the cryptocurrency industry. “That’s not to say we can save everybody. If a project is mismanaged on multiple fronts we won’t be able to help them anyway,” he added. Zhao said he wants to form an organization that could “establish best practices” across the industry.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yeah I think it’s a bad idea it just allows the bad actors to get away with it. If you commit some huge Ponzi fraud there should not be any fund to bail out your company. The company should go under and leave the remaining industry stronger as well as serving as a lesson for others of what not to do.
tldr; Binance CEO Changpeng Zhao has said he’s establishing a recovery fund to help people in the cryptocurrency industry. “That’s not to say we can save everybody. If a project is mismanaged on multiple fronts we won’t be able to help them anyway,” he added. Zhao said he wants to form an organization that could “establish best practices” across the industry.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Like a shaolin monk that you are, look deeper into yourself to find best practices.
wait… what? I thought this was satire but carlos-matos-yeah-yeah-yeah-okay-thats-real.gif
so glad I’m not a shitcoiner
CZ is going to save his shitcoins. He’s trying to keep all these shitcoin having non-zero values.
Yeah I think it’s a bad idea it just allows the bad actors to get away with it. If you commit some huge Ponzi fraud there should not be any fund to bail out your company. The company should go under and leave the remaining industry stronger as well as serving as a lesson for others of what not to do.
>“Regulations need to be adapted for this industry,”
FTX was the most regulated exchange out there
Keep full reserves and you won’t need one CZ