Everyone in the crypto space is blaming the Friday flash crash on Binance and calling for investigation. 21 billion dollar was withdrawn from Binance today alone. Should I withdraw my funds off the chink exchange? I don't want it frozen in case of a real investigation. Also why the fuck hasn't there been any news about this on biz? Is this board only for shilling and fudding shitcoins now??
>>61120278probably they tried to pump their shitcoin to save their asses
>>61120278No leave your money there. Remember funds are safu
>>61120278>nowkekalways was
>>61120278not your keys not your coinsbinance is 100% confirmed to have an internal trading team that trades actively against usersdo you really think they would hesitate to 'oops tee hee buttons don't work' their users? does 'oops tee hee oracles broke someone - totally not us - made a lot of money but we'll give you back some of what we stole' seem legit to you?much easier decision now that defi protocols do everything binance does but you get to keep your keys and replace trusting cz with trusting smart contract codehyper had 0 issuesfrankly you should never have had money there in the first place
>>61120278Twitter is saying that it started by exploiting a low liquidity stable coin on binance that triggered rolling leverage failures.The failure happened universally on shitcoins, everything that was not btc or eth.Shitcoins have zero volume, consequently they need market makers to make the market, their are zero buyer seller markets to support, so it requires LP to make the market, they set the price and then concentrate the liquidity.When leverage unwinds, the 1:1 balance in the pool blows up as the order book, which is paper thin in range and depth, gets chewed through, then the bottom falls out. Once the bots have had their fill, the price rebounds and stabilizes.That's it, their is NO market for shitcoins, zero. The market makers are setting. The price, their is no interest and no demand for dogshit.
Is it really that hard to follow, OP?
>>61120278>Everyone in the crypto space is blaming the Friday flash crash on Binance and calling for investigation.Binance is where the collateral depegs happened that caused the liquidation cascades.It's also where a ton of coins went to zero.On every other exchange it was just a normal crypto crash.Binance made it into the absolute biggest liquidation event crypto has ever seen.
>>61120278>>61120762
That's the value of the inflowing/outflowing assets, that was lost in face of the dump last week. The actual outflows during the last 7 days were something like $1 billion. And the inflows were actually positive over the last 24 hours.It's really no surprise that tokens such as link don't move in a market filled with these kind of retards.
