I couldn't find anything in that article that points to the veracity of that claim except from Binance itself. How reliable is that? And if it's true why are they only coming out with it now, instead of before all of these went down?
Yes Binance seem like a scam, and even if totally legit their net worth is in currencies which have fallen dramatically and will keep falling. They haven’t had a proper audit, so you just have to trust them.
What we do know is that binance hasn't ever done a proper audit, considering that, I can call Binance a scam with a high degree confidence and the only way for me to stop saying it is by them doing a full audit by a reputable company.
Which they are not going to do since they are scam.
I don't think Binance "found" the truth, they heard things and acted on what they heard, but they weren't the ones that did the initial investigation from my understanding
Im 9-to-1 that Binance is shady asf but I don’t have much evidence - outside of the fact that they used to list tokens in exchange for a share of the pie, which in my eyes is super dodgy.
I'm really skeptical of Binance, whilst I would never accuse them of anything specific, I have no proof. Their structure, governance and business model combined with their refusal to meet basic regulatory requirements makes me feel uneasy.
Besides, I have heard many people doubt the volume numbers published by binance. Either claiming binance inflates the numbers, or binance allows wash trading which inflates the numbers.
How do you know Binance hasn't stolen anyone's money? Is there a reputable auditor's statement to that effect? Seems very unlikely when Binance pretends they're not even headquartered in any jurisdiction. Nobody has any idea about Binance's actual money flows and where customer funds have actually ended up.
"For a corporation of its scale, Binance discloses little public information. It says it does not have a headquarters and does not identify which entity controls its main exchange..."
I don't see the point of giving them the benefit of the doubt. Their outfit is clearly designed to avoid the kind of regulation that would discourage money laundering.
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