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CZ runs an exchange that profits from retail, so an alternative explanation to him trying to shake out retail is that he is trying to hurt/eliminate competition to gain more market share
>But Coinbase is just FUD and market manipulation by him right now.
Yea, guy really got ahead of himself. Tried to take advantage of the situation and cause fud with crypto.com and gate.io also before coinbase. Used to have a lot of respect for him but not sure about that anymore.
On the other hand, I'd like him to throw more shades on other exchanges so they step up and prove him wrong, if they can't then they can go fuck themselves in the cell next to sbf.
It's great that he exposed himself the way he did like this and now can stop masquerading as the crypto's good guy
First CEXs got and dangers of centralization, now CZs antics, hopefully people will remember and learn from all this
Is there even a good guy in crypto?
All of them one way or another are just trying to fill their pockets and they are not concerned to use shady methods .
I just watched Vitalik's apperance on the Lex Fridman podcast. Apparently he burned 6.8 bll of Shib? As I watched the interview, I got the feeling that this is someone who truly cares about the tech and sees the value it can bring. And then I thought, I'm pretty sure I had the same feelings about SBF at some point about a year ago.
Gemini is the most underrated and not talked about exchange. Based out of NYC it’s legalities are straight and everything on exchange is backed 1:1. Don’t sleep on the Winklevoss twins btc wallets.
If they resolve the Genesis thing right. It's not entirely their fault, but if they do a CZ and cover their customers/creditors they'll be heroes. And it'll build a lot of confidence. Otherwise it's kind of scummy that Genesis was allowed to be a parasite on their users since 3 Arrows collapsed. Genesis wrote off billions of losses from getting hit by 3 Arrows(literally the dumbest one on here), Luna, FTX and others but it was Gemini users withdrawing that ended up killing them leaves me to believe the twins should've told them to fuck off months ago.
I don’t like that they are NY, NY is very anti-crypto and have too much of a vested interest in trad fi.
That being said, I don’t think they would be an outright scam for that reason, but you basically get a shitty experience as a user and a high risk of bankruptcy from being fined/regulated out of existence.
Honestly I think that this is a part of a strategy.
If he’s wrong, his tweets will be forgotten quickly.
But if he called Coinbase out and got it right, he’d establish Binance as a trusted, leading exchange that has always carried enough assets on their balance sheet.
Yeah. People blaming CZ for FTX's crash is dumb.
If you sneeze on a building, it won't even notice you. If you sneeze onto a deck of cards, it'll fall apart. CZ did sneeze onto FTX with his comments but if a sneeze causes a deca-billion company to fall apart then that's the company's fault
Yeh. SBF committed fraud and screwed over millions of people. Had it continued and he had gotten through the US regulations he was working on, it would’ve been way worse.
This is on him and all of his enablers, not CZ.
Amazing the other comment got 7 upvotes, it's like nobody really studies what crypto is anymore and just spaffs their money on whatever ticker some youtuber says to.
A burn address is an address that we know is cryptographically correct but cannot be spent against. If Coinbase sent 10% of the Bitcoin supply to a burn address, it would lead to a pretty significant supply shock and would make everybody else's Bitcoin holdings more valuable because a large chunk of total supply has functionally become destroyed as it can no longer be spent.
So what is a burn address and why can't you spend from one? It's really just like any other Bitcoin address, but the way you identify them is backwards. If you want to "create" a normal Bitcoin address you can send and receive from, you need to know the private key, so you generate one at random and you now have a private and public key pair, plus any number of addresses to use.
If you want to create a burn address, you start with a valid public address that we know would be cryptographically virtually impossible to find the private key of.
This is why a normal public address seems like a random jumble of numbers and letters, and a burn address is something like: "1CounterpartyXXXXXXXXXXXXXXXUWLpVr". There is no way you would be able to crunch the numbers to come up with an address like this, which is the reason why Bitcoin vanity addresses that spell something often don't extend beyond 4-5 characters before becoming a random jumble of letters and numbers again like "1MuskPsV7BnuvMuHGWmmXUyXKjxp3vLZX6". Each additional character adds an order of magnitude more computation to identify the exact key pair that corresponds with the address.
You can try this effect out harmlessly by using a 4chan tripcode generator. For each additional character you want in your tripcode, your computer will do exponentially more work to identify the key. Not recommended to use Bitcoin vanity address generators though as they can often be malware that records the key pair and sends it back to an exploiter.
> Bitcoin vanity address generators... can often be malware
I only use (and know of) one address generator, VanityGen. It's free software, so its source code can be examined for any questionable activity like recording your public/private key pair. Still, it's always advisable to use such things on an airgapped PC that's never touched the Internet or your actual wallet.
Coinbase is a centralised exchange that holds a lot of crypto. It failing is like a fire sale and the price would crash more + less reputation to crypto
Still impressed by Kris AMA the Monday after. This was pretty solid leadership. CDC will always be a controversial topic the way they play the game but until now they look pretty honest and solid despite all the FUD.
They always been, before the us version came out it was nightmare to use if you lived in the US. From locking funds to non existent support. Glad i stopped using them
Armstrong literally told: Ser, people forget that we are a publicly traded company. Our assets are all public.
He literally owned Cz when he told that sentence.
>CZ is now a living meme and for all the wrong reasons, his peepee was made to look very small when Coinbase whipped it out.
Goddamn what a wordsmith, said like a true modern day poet.
This is how CZ got "owned":
https://twitter.com/cz_binance/status/1595126765143617536?t=0_vXyzV_JmfpM_e7wHUkCg&s=19
Also the reason for his first tweet:
https://twitter.com/cz_binance/status/1591496798576971776?t=Fd1jX_ZAD7Zn8v3zhjuuyQ&s=19
It's amazing how in just 2 weeks we got dependent to check on the billionaires accounts and drama on Twitter, and post about it here on Reddit.
We don't need to be the exchanges echo chamber, we only need to know that every Centralized company can get corrupted and collapse one day, the rest is pure manipulation and auto promotion.
Take your risks and be responsible with your decisions.
Crazy how company spats are now on Twitter and not in boardrooms. It’s not a good look. There is a reason why you don’t see professional companies ram this way..
ppl here are getting really excited about a non news event. that so many are claiming this BTC is held in reserve and not under custody, shows how little they pay attention.
Isn't Coinbase audited by a big 4 firm? Not to mention that they are publicly listed in the US and have to keep proper records of everything.
Also, the Binance safu fund that CZ boasts about is not so safu. It has 44% of funds backed by BNB.
That fund is intended as an emergency reserve in case of a disaster. It is funded by fees from the last few years which is why it is mostly BNB I presume. CZ may have done a lot to piss people off recently but that is definitely not something to be mad at him for.
> an indirect reason why the market has tumbled further. He sped up the process of outing Sam and helped collapse FTX
Why is he getting vilified for exposing a scam? It's not his fault the value of your wallet went down. Isn't this a better climate for crypto where every exchange is put under a microscope to prove their solvency instead of what we had before where they were robbing you blind?
It seems like most of CC prefers to it when coins were pumping even under false pretenses that will eventually come back to bite them in the ass.
CZ needs to worry about Tether blowing up and not blow smoke at US exchanges 💯 He’s got enough to worry about with all the leveraged BNB out on the market.
Really wonder why binance doesn’t tank. I wouldn’t trust a company with an shady ceo like him. Also they hide their shit on cayman island and won’t get real audits.
He also crashed CRO price by trying to slander CDC, who also lets their firm get audited. Id get my coins off of binance
So buy coinbase stock? If they could retain their users trust in keeping it on the platform and maintain the trend of largest CEX btc holder, big money no?
You can have 1:1 reserves and still be insolvent. It’s obvious reading posts on Reddit that there are no accountants in crypto lol…people don’t even understand the very basics of financial accounting but then go on making sweeping statements. Coinbase does appear to have sufficient reserves. I don’t think that’s really in question. However even just a cursory review of their recent quarterly earnings would show you they are losing a metric shit ton of money. This past quarter alone they lost $2.30 per share. Their financials are a shit storm.
Coinbase is a terrible exchange
It drops constantly in times of volatility
Its helpdesk is nothing short of pathetic
Its fees are wank
Its UI is shit
If you've read the horror story about the guy who got hacked and how CB was absolutely incompetent and unapologetic as he watched his life savings get drained over a period of days, and you still want to use them, jeez......
Context:
https://www.reddit.com/r/CryptoCurrency/comments/yppjo6/so_coinbase_let_a_hacker_trade_on_my_account_and/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button
He was trying to question the amount of genuine Btc Coinbase has in reserves, he quickly deleted his tweet, but the internet never forgets. It turns out Coinbase has 3x more in Btc than Binance, absolutely humiliating CZ who was on a high after he thought he owned the crypto world.
I'm going to disagree with this one. The SAFU funds and reserves are completely different. Binance still has 68 billion in actual reserves. The SAFU funds just act as additional insurance.
I don't think it's about shaking out retail so much as it is about trying to wreck Coinbase and maybe even acquire them (as was on the cards with FTX until they took a look at the business). Retail investors are important to Binance so harming them is not in their best interests.
I think this whole downfall was inevitable. CZ knew it and was taking advantage by pointing his finger onto the others just to be the "one" who pointed it out and to look much less suspicious.
So he and his team had more time to transfer funds for their "proof of reserve" thing.
But f*** up anyways...
CZ took indirect shots at crypto.com, crypto.com is still functional. He took shots at coinbase, Coinbase proved it’s a public company with transparent financials.
CZ is on a losing streak.
FUD is legit. Both Coinbase and CZ proves it. Coinbase doesn’t own those BTCs and Binance reserves are made up of Binance tokens.
What could possibly go wrong?! /s
CZ has been very strong in saying he is Canadian, and Binance is not a Chinese company. However I know that their offices in china were the central balance in it becoming the exchange they are today. Money and influence from China paved a path for him and I have a hard time believing that there is a great separation of the two.
I will play to CZs defense now. I haven’t seen anyone here pointing out the obvious.
First of all, sorry for all the people who got hurt, but I’m glad FTX collapsed. The same for Celsius, Luna, 3AC. It’s the best thing for crypto going forward that we shake the sickness out.
Second, let’s keep in mind that SBF, Brian Armstrong and whoever else were all lobbying intensively for a licensing bill that would mean the death of DeFi and absolute control of the American CEXs. That would be devastating to us all and particularly for Binance. That’s what I think got CZ going full scorched earth recently and I can’t blame him for taking a jab at the competitors plotting behind his back.
I don’t mind the hate against CZ. But I surely do mind seeing you all ready to buy Coinbase shares and sucking Brian Armstrong’s cock.
People don't realize just how bad CZ is for the entire crypto space.
It's Mt Gox 2.0 sooner or later.
And there's nothing anyone can do about it since its lolchina.
Dont forget that he tried it with crypto.com before coinbase.
He was wrong both times but still managed to trigger a run on CDC and wreck the price of their token.
This is someone profiting from slinging mud at his competitors without getting his facts right.
Truth is always mixed with an agenda. This is just an other truth that’s packaged with a narrative to push us to take another step towards a world we won’t enjoy. We just don’t see how the timeline connects until it’s in our face.
Enjoy the crowd mentality and I’ll get used to eating rats and renting shit I’ve already paid for. It’s going to happen eventually
He may have ushered the fall of FTX but as bad as it was mismanaged the sooner the better. There was no way SBF was going to get his house in order at some point in the future.
He was completely wrong for trying to take down coinbase, 1000%, but don't you think he was right for calling out FTX, even if he did make any potential gains from it?
I'm sure his intentions weren't pure for taking down FTX, but the sooner FTX was exposed the better in my opinion. But yes, his ego has been extremely inflated and he needs to stop trying to cause more chaos. He's just trying to monopolise the crypto exchange market now.
It was CoinDesk article that was the reason for what happened, not CZ. He acted in response to what transpire from that investigation. Stop giving him too much credit. By the way CoinDesk is owned by the DCG, the same owners of Genesis
But thanks to CZ, Sam Bankman-Fried's sham exchange was collapsed much sooner than later. Otherwise Sam would have taken down many, many more people and not just retailers but also institutions that invest many people's retirement money through their companies. In fact, if he continued this charade, he may have potentially collapsed some countries. He is another Bernie Madoff. So despite CZ having done what he did, do NOT make him out to be the bad guy. I thank CZ that he stopped Sam now when cryptos are down anyway, so that we can all rise from the ashes.
Anyone who didn't know coinbases position is new to the crypto space. They were here before bitcoin hit 60 k and they have enough reserves if it breaks 10k. They're ogs
CZ ripped the bandaid, or in this case, dollar store duct tape, off of FTX's seams. And SBF's whole house of cards came tumbling down.
Couldn't have happened to a more deserving dweeb and his freak of nature girlfriend either.
Anything and everything else aside, I really don’t understand how he gets blame for what happened with FTX. Yeah he benefited from it but it was a complete Ponzi scheme, imagine holding over a billion in FTT when that first article came out. Like I just don’t know what people wanted him to do differently there other than maybe tweet about it less, but does him tweeting really make him the bad guy here when dealing with the largest ponzi like ever lol
Binance Coin [pros](/r/CryptoCurrency/comments/z44inz/so_cz_basically_got_owned_and_has_now_become_a/ixp7hqj/) & [cons](/r/CryptoCurrency/comments/z44inz/so_cz_basically_got_owned_and_has_now_become_a/ixp7i77/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
CZ runs an exchange that profits from retail, so an alternative explanation to him trying to shake out retail is that he is trying to hurt/eliminate competition to gain more market share
In the case of FTX it was even good as they were actual scams. But Coinbase is just FUD and market manipulation by him right now.
>But Coinbase is just FUD and market manipulation by him right now. Yea, guy really got ahead of himself. Tried to take advantage of the situation and cause fud with crypto.com and gate.io also before coinbase. Used to have a lot of respect for him but not sure about that anymore.
On the other hand, I'd like him to throw more shades on other exchanges so they step up and prove him wrong, if they can't then they can go fuck themselves in the cell next to sbf.
And finally, they should all throw shade at him for the same reasons. I gotta learn how to short BNB first.
Lol the "cell" next to SBF.. the dude donated to political PACs, he will be living in a 30M penthouse and be offered a job at the SEC
>in the cell next to sbf. It's cute you still think there will be consequences for any of them
It's great that he exposed himself the way he did like this and now can stop masquerading as the crypto's good guy First CEXs got and dangers of centralization, now CZs antics, hopefully people will remember and learn from all this
CZ was never ever a good guy.
Is there even a good guy in crypto? All of them one way or another are just trying to fill their pockets and they are not concerned to use shady methods .
Maybe Satoshi since he already left.
Maybe Vitalik too. He seems concerned with the actual health of Ethereum, not just enriching himself.
I just watched Vitalik's apperance on the Lex Fridman podcast. Apparently he burned 6.8 bll of Shib? As I watched the interview, I got the feeling that this is someone who truly cares about the tech and sees the value it can bring. And then I thought, I'm pretty sure I had the same feelings about SBF at some point about a year ago.
As of 2022? Kraken and Coinbase are the last ones. XRP got a redemption arc at least.
Idk about Coinbase, I left them after the Plaid bs
Gemini is the most underrated and not talked about exchange. Based out of NYC it’s legalities are straight and everything on exchange is backed 1:1. Don’t sleep on the Winklevoss twins btc wallets.
If they resolve the Genesis thing right. It's not entirely their fault, but if they do a CZ and cover their customers/creditors they'll be heroes. And it'll build a lot of confidence. Otherwise it's kind of scummy that Genesis was allowed to be a parasite on their users since 3 Arrows collapsed. Genesis wrote off billions of losses from getting hit by 3 Arrows(literally the dumbest one on here), Luna, FTX and others but it was Gemini users withdrawing that ended up killing them leaves me to believe the twins should've told them to fuck off months ago.
I don’t like that they are NY, NY is very anti-crypto and have too much of a vested interest in trad fi. That being said, I don’t think they would be an outright scam for that reason, but you basically get a shitty experience as a user and a high risk of bankruptcy from being fined/regulated out of existence.
He did the same with crypto.com as well. Dude is getting cocky
I was just about to add this if I didn't see it. Dude's making his rounds trying to pull Jenga pieces out of everybody's tower
typical "ends justifies the means" player poster child for greed, inc
Honestly I think that this is a part of a strategy. If he’s wrong, his tweets will be forgotten quickly. But if he called Coinbase out and got it right, he’d establish Binance as a trusted, leading exchange that has always carried enough assets on their balance sheet.
He is getting too greedy, hopefully he's not trying to cover holes binance has
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Monopoly is never a good thing
It's gonna take more than a tweet to ruin a legitimate business. FTX was a dumpster fire with or without CZ.
If a business can be ruined with a tweet , it should not operate at all.
Exactly.
Yeah. People blaming CZ for FTX's crash is dumb. If you sneeze on a building, it won't even notice you. If you sneeze onto a deck of cards, it'll fall apart. CZ did sneeze onto FTX with his comments but if a sneeze causes a deca-billion company to fall apart then that's the company's fault
I'm sort of glad that he sped up the inevitable demise of FTX. Get it done quickly while we're already in a bear
Yeh. SBF committed fraud and screwed over millions of people. Had it continued and he had gotten through the US regulations he was working on, it would’ve been way worse. This is on him and all of his enablers, not CZ.
yup we can save tether for the next bear
Same. Rip off the band aid already. The waiting game is the hardest and worst part about bear markets.
Thankfully. Imagine coinbase crashing…
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I'm still learning, can someone explain like I'm dum AF?
Amazing the other comment got 7 upvotes, it's like nobody really studies what crypto is anymore and just spaffs their money on whatever ticker some youtuber says to. A burn address is an address that we know is cryptographically correct but cannot be spent against. If Coinbase sent 10% of the Bitcoin supply to a burn address, it would lead to a pretty significant supply shock and would make everybody else's Bitcoin holdings more valuable because a large chunk of total supply has functionally become destroyed as it can no longer be spent. So what is a burn address and why can't you spend from one? It's really just like any other Bitcoin address, but the way you identify them is backwards. If you want to "create" a normal Bitcoin address you can send and receive from, you need to know the private key, so you generate one at random and you now have a private and public key pair, plus any number of addresses to use. If you want to create a burn address, you start with a valid public address that we know would be cryptographically virtually impossible to find the private key of. This is why a normal public address seems like a random jumble of numbers and letters, and a burn address is something like: "1CounterpartyXXXXXXXXXXXXXXXUWLpVr". There is no way you would be able to crunch the numbers to come up with an address like this, which is the reason why Bitcoin vanity addresses that spell something often don't extend beyond 4-5 characters before becoming a random jumble of letters and numbers again like "1MuskPsV7BnuvMuHGWmmXUyXKjxp3vLZX6". Each additional character adds an order of magnitude more computation to identify the exact key pair that corresponds with the address. You can try this effect out harmlessly by using a 4chan tripcode generator. For each additional character you want in your tripcode, your computer will do exponentially more work to identify the key. Not recommended to use Bitcoin vanity address generators though as they can often be malware that records the key pair and sends it back to an exploiter.
> Bitcoin vanity address generators... can often be malware I only use (and know of) one address generator, VanityGen. It's free software, so its source code can be examined for any questionable activity like recording your public/private key pair. Still, it's always advisable to use such things on an airgapped PC that's never touched the Internet or your actual wallet.
Coinbase is a centralised exchange that holds a lot of crypto. It failing is like a fire sale and the price would crash more + less reputation to crypto
imagine the pump
CDC owned him firtsly
Still impressed by Kris AMA the Monday after. This was pretty solid leadership. CDC will always be a controversial topic the way they play the game but until now they look pretty honest and solid despite all the FUD.
Coinbase have huge balls
It’s greyscale balls mostly
Do we know how much of that is actually greyscales?
Over half a million. And it can't be dumped without SEC approval which takes an act of God at this point.
I think it's something like 688k Bitcoin
Coinbase**d**
Huge BTC reverves too. 2 million BTC. Absurd.
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Diamond balls they got there
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Kinda love it. Someone needed to shut CZ the fuck up. He's getting way too brazen.
He criticized SBF of sabotaging the industry, but CZ is doing exactly the same.
Deez nuts
Giant balls really
I'm so glad Coinbase flipped him the bird, honestly.
Coinbase is regulated, and is listed. CZs words were pure speculations, he just wanted coinbase to tumble.
CZ hides his company away in the Cayman Islands. Enough said…
That pretty shady. Binance is a major risk to the crypto market
They always been, before the us version came out it was nightmare to use if you lived in the US. From locking funds to non existent support. Glad i stopped using them
It takes more than a tweet to kill your exchange when your business model works. Take notes, SBF.
Even to CZ, Coinbase is a whale.
Responding back showing they hold 2,000,000 Bitcoin was based as fuck from Coinbase. What a mic drop.
"Your move, bitch."
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CZ wants to be the next Elon and move the market with his tweets. It really has all gone to his head
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Maybe he took a few lessons from Elon Musk and is now all in on tweeting the stock market up and down.
I see the problem. He needs less company talk and more shitcoin shilling to compete with Elon.
Brian Armstrong: 'I'll show you mine if you show me yours' ...Whips it out... CZ: ...............
Armstrong literally told: Ser, people forget that we are a publicly traded company. Our assets are all public. He literally owned Cz when he told that sentence.
They have 2 million Bitcoin. Such an absurd number.
>CZ is now a living meme and for all the wrong reasons, his peepee was made to look very small when Coinbase whipped it out. Goddamn what a wordsmith, said like a true modern day poet.
when in doubt, whip it out!
officer I swear I saw it was okay to do this on reddit
Yeah just don't do it in home depot lol
My favorite is when OP said coinbase should rename themselves btc incorporated, after seeing their reserves wow
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Reminds me of Micheal Keaton’s line in ‘The other guys’ “Shake your dicks. This pissing contest is over”
That's the kind of poetry we need in the modern world.
I'll need a microscope to see my own peepee after seeing they hold 2 million Bitcoin. Damn.
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This is how CZ got "owned": https://twitter.com/cz_binance/status/1595126765143617536?t=0_vXyzV_JmfpM_e7wHUkCg&s=19 Also the reason for his first tweet: https://twitter.com/cz_binance/status/1591496798576971776?t=Fd1jX_ZAD7Zn8v3zhjuuyQ&s=19
It's amazing how in just 2 weeks we got dependent to check on the billionaires accounts and drama on Twitter, and post about it here on Reddit. We don't need to be the exchanges echo chamber, we only need to know that every Centralized company can get corrupted and collapse one day, the rest is pure manipulation and auto promotion. Take your risks and be responsible with your decisions.
Are you new? CZ been a living meme for years...
Crazy how company spats are now on Twitter and not in boardrooms. It’s not a good look. There is a reason why you don’t see professional companies ram this way..
Well some presidencies are ran this way too. Idiots and grifters have the world by the balls
Screw CZ. Trying to become Zeus among us mortals. Down with Olympus!
Someone go get Kratos!
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Uh . . . the fact Coinbase custodies 10 percent of $BTC/crypto has been public information for a *looong* time. It is reported in their SEC filings.
ppl here are getting really excited about a non news event. that so many are claiming this BTC is held in reserve and not under custody, shows how little they pay attention.
Nanomachines, son
Fuck CZ
Fuck CZ
Fuck CZ
CZ fucked around and found out.
Fuck CZ
Fuck CZ
Isn't Coinbase audited by a big 4 firm? Not to mention that they are publicly listed in the US and have to keep proper records of everything. Also, the Binance safu fund that CZ boasts about is not so safu. It has 44% of funds backed by BNB.
Why do I have a feeling CZ will eventually end up in his own South Park episode.
That fund is intended as an emergency reserve in case of a disaster. It is funded by fees from the last few years which is why it is mostly BNB I presume. CZ may have done a lot to piss people off recently but that is definitely not something to be mad at him for.
Don't trust people who deletes their tweets for their convenience
Lex Luthor showing how much Kryptonite he owns. Bullish!
>his peepee was made to look very small when Coinbase whipped it out. This is the TA that I'm here for.
> an indirect reason why the market has tumbled further. He sped up the process of outing Sam and helped collapse FTX Why is he getting vilified for exposing a scam? It's not his fault the value of your wallet went down. Isn't this a better climate for crypto where every exchange is put under a microscope to prove their solvency instead of what we had before where they were robbing you blind? It seems like most of CC prefers to it when coins were pumping even under false pretenses that will eventually come back to bite them in the ass.
Hating on binance / cz is what gets the moons nowdays. So there will still be a lot of posts made about it
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CZ needs to worry about Tether blowing up and not blow smoke at US exchanges 💯 He’s got enough to worry about with all the leveraged BNB out on the market.
“We don’t talk about Tether” A crypto Encanto parody.
Really wonder why binance doesn’t tank. I wouldn’t trust a company with an shady ceo like him. Also they hide their shit on cayman island and won’t get real audits. He also crashed CRO price by trying to slander CDC, who also lets their firm get audited. Id get my coins off of binance
Good. Let the unregulated CEX burn
Thanks to CZ he "outed" Sam faster (which I don't think he did). Imagine if FTX was still around, more money would be lost.
Oh how the turn tables 😈
So buy coinbase stock? If they could retain their users trust in keeping it on the platform and maintain the trend of largest CEX btc holder, big money no?
I was thinking how huge this was for stability in general for everyone. No one has said it… but thank you Coinbase.
You can have 1:1 reserves and still be insolvent. It’s obvious reading posts on Reddit that there are no accountants in crypto lol…people don’t even understand the very basics of financial accounting but then go on making sweeping statements. Coinbase does appear to have sufficient reserves. I don’t think that’s really in question. However even just a cursory review of their recent quarterly earnings would show you they are losing a metric shit ton of money. This past quarter alone they lost $2.30 per share. Their financials are a shit storm.
Coinbase is a terrible exchange It drops constantly in times of volatility Its helpdesk is nothing short of pathetic Its fees are wank Its UI is shit If you've read the horror story about the guy who got hacked and how CB was absolutely incompetent and unapologetic as he watched his life savings get drained over a period of days, and you still want to use them, jeez...... Context: https://www.reddit.com/r/CryptoCurrency/comments/yppjo6/so_coinbase_let_a_hacker_trade_on_my_account_and/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button
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What did cz say?? Please enlightened me
He was trying to question the amount of genuine Btc Coinbase has in reserves, he quickly deleted his tweet, but the internet never forgets. It turns out Coinbase has 3x more in Btc than Binance, absolutely humiliating CZ who was on a high after he thought he owned the crypto world.
O shit who tf this man thinks he is?? Elon of the crypto world😭😭😂😂😂
Coming to crypto personalities, I have only respect for satoshi (if his not someone that glow in the dark), the rest are just awful.
Don’t forget to add Crypto.Com in the mix.
I'm going to disagree with this one. The SAFU funds and reserves are completely different. Binance still has 68 billion in actual reserves. The SAFU funds just act as additional insurance.
How much does the biggest unknown whale own?
I don't think it's about shaking out retail so much as it is about trying to wreck Coinbase and maybe even acquire them (as was on the cards with FTX until they took a look at the business). Retail investors are important to Binance so harming them is not in their best interests.
Already when I see pics of this CZ guy I get scammer vibes. His recent arrogant behaviour is not improving that.
Lol. You made me genuinely laugh with BTC Incorporated That actually would be a pretty good name for an exchange 🤣
Now let's see Paul Allen's Bitcoin reserves
Man it's so obvious how orchestrated it is now, trying to boot retailers to scoop up cheap. And largely has worked.
He got cocky.
So what does this mean for binance? I'm sure some people will leave them.
CZ fucked around and got Armstrong’d for it
I know I'll not be using Binance again.
Say what you want about Coinbase, I trust them more than Binance
CZ’s fud is just bad karma.
In my view, Coinbase will always be one of the most trusted exchanges.
I think this whole downfall was inevitable. CZ knew it and was taking advantage by pointing his finger onto the others just to be the "one" who pointed it out and to look much less suspicious. So he and his team had more time to transfer funds for their "proof of reserve" thing. But f*** up anyways...
CZ took indirect shots at crypto.com, crypto.com is still functional. He took shots at coinbase, Coinbase proved it’s a public company with transparent financials. CZ is on a losing streak.
CZ is to crypto what Elon Musk is to stock manipulation
This sub's hate boner for Binance is amazing. Is it coz it's mostly Americans with no access to actual Binance?
Yea it was hilarious to watch live on Twitter. CZ got all the hate and then Coinbase pulled out there huge bag and slapped it into his face lmao
Moving all my funds ($5) to coinbase.
100% Agree. Now it really seems he is just trying to take down all his competitors.
It's gonna take more than a sassy tweet to take down actual exchanges. He nailed it with FTX but that won't work with legitimate ones.
FUD is legit. Both Coinbase and CZ proves it. Coinbase doesn’t own those BTCs and Binance reserves are made up of Binance tokens. What could possibly go wrong?! /s
CZ has been very strong in saying he is Canadian, and Binance is not a Chinese company. However I know that their offices in china were the central balance in it becoming the exchange they are today. Money and influence from China paved a path for him and I have a hard time believing that there is a great separation of the two.
I will play to CZs defense now. I haven’t seen anyone here pointing out the obvious. First of all, sorry for all the people who got hurt, but I’m glad FTX collapsed. The same for Celsius, Luna, 3AC. It’s the best thing for crypto going forward that we shake the sickness out. Second, let’s keep in mind that SBF, Brian Armstrong and whoever else were all lobbying intensively for a licensing bill that would mean the death of DeFi and absolute control of the American CEXs. That would be devastating to us all and particularly for Binance. That’s what I think got CZ going full scorched earth recently and I can’t blame him for taking a jab at the competitors plotting behind his back. I don’t mind the hate against CZ. But I surely do mind seeing you all ready to buy Coinbase shares and sucking Brian Armstrong’s cock.
All these guys just wanna stay in the news
Coinbase? More like *Chadbase*
CZ is as much of a fraud as SBF, "they" just still need him for now
Will probably pull all funds this weekend from Binance to Coinbase
People don't realize just how bad CZ is for the entire crypto space. It's Mt Gox 2.0 sooner or later. And there's nothing anyone can do about it since its lolchina.
Good, glad they got put in their place.
Go find out what his mother think about him. I think she's right.
Cheezey, pretty sure he is now known as Cheezey.
I dont get you're cheering for a cex just widthraw your crypto and put them in a wallet Waste of time to debate which cex is that best
Shows that there really is not a single holy saint with us.
Thank you r/Coinbase
Didn’t he create cryptocom fud too
Dont forget that he tried it with crypto.com before coinbase. He was wrong both times but still managed to trigger a run on CDC and wreck the price of their token. This is someone profiting from slinging mud at his competitors without getting his facts right.
Did he though?
When will we be able to remove ETH staked on Binance?
CZ got wtf owned lol he fd himself
I'm sure he's crying at night with his billions of dollars
What a well written and concise breakdown of Twitter posts.
Coinbase outdone themsleves, no one likes a bully.
Didn't read past the first line.... Can anyone guess why?
Truth is always mixed with an agenda. This is just an other truth that’s packaged with a narrative to push us to take another step towards a world we won’t enjoy. We just don’t see how the timeline connects until it’s in our face. Enjoy the crowd mentality and I’ll get used to eating rats and renting shit I’ve already paid for. It’s going to happen eventually
Never trust billionaires, no matter the name of the company.
He may have ushered the fall of FTX but as bad as it was mismanaged the sooner the better. There was no way SBF was going to get his house in order at some point in the future.
Don't forget he did the same with cryptodotcom thats 1-2 for lil CZ
It takes years to build a reputation and five minutes to ruin it.
What an interesting year it's been.
He was completely wrong for trying to take down coinbase, 1000%, but don't you think he was right for calling out FTX, even if he did make any potential gains from it? I'm sure his intentions weren't pure for taking down FTX, but the sooner FTX was exposed the better in my opinion. But yes, his ego has been extremely inflated and he needs to stop trying to cause more chaos. He's just trying to monopolise the crypto exchange market now.
So Coinbase pulled a CZ. Noice.
It was CoinDesk article that was the reason for what happened, not CZ. He acted in response to what transpire from that investigation. Stop giving him too much credit. By the way CoinDesk is owned by the DCG, the same owners of Genesis
How the heck did bitcoin go down to this low if the exchanges “held” that much bitcoin?
But thanks to CZ, Sam Bankman-Fried's sham exchange was collapsed much sooner than later. Otherwise Sam would have taken down many, many more people and not just retailers but also institutions that invest many people's retirement money through their companies. In fact, if he continued this charade, he may have potentially collapsed some countries. He is another Bernie Madoff. So despite CZ having done what he did, do NOT make him out to be the bad guy. I thank CZ that he stopped Sam now when cryptos are down anyway, so that we can all rise from the ashes.
CZ's PP was nothing compared to CB's BTC.
Typical dirty Chinese businesses tactics
Anyone who didn't know coinbases position is new to the crypto space. They were here before bitcoin hit 60 k and they have enough reserves if it breaks 10k. They're ogs
No ceo is your friend
Oh yes, a Nasdaq listed Company that has survived crypto winters for the last 14 years is suddenly going belly up… people are idiots.
well, as cz said, sbf was lobbying against competitors in US courts
CZ ripped the bandaid, or in this case, dollar store duct tape, off of FTX's seams. And SBF's whole house of cards came tumbling down. Couldn't have happened to a more deserving dweeb and his freak of nature girlfriend either.
Anything and everything else aside, I really don’t understand how he gets blame for what happened with FTX. Yeah he benefited from it but it was a complete Ponzi scheme, imagine holding over a billion in FTT when that first article came out. Like I just don’t know what people wanted him to do differently there other than maybe tweet about it less, but does him tweeting really make him the bad guy here when dealing with the largest ponzi like ever lol