/biz/ - Business & Finance

>>24362488
That's not how it works. Bitcoin isn't something that's locked away in a vault somewhere where you can get at them and then cash them out in such a way.

In this fantastic scenario, they would attack the chain, and because the blockchain is transparent, this news would hit the network immediately. Order books would start disappearing instantly, the CCP would only have access to whatever they could scrap together on order books. At that point it's not like they're going to then ask Binance to withdraw their funds lol. At that point the cat is out of the bag. China has just 51% attacked the blockchain.

All of the exchanges are located around the world, Binance has offices in HK, but they're HQ is in Malta. So no, Binance has no obligation to give them a penny. It's a wildly inept scenario. Also, because Bitcoin cold storage can be multisig and have nuanced ways of protection, it is not even guaranteed that they would ever see any Bitcoin even in some sort of scenario involving force and physical access to the exchange. Their best bet is simply shaking up smaller exchanges based in China proper, which they do anyways, and confiscating (hodling) as much BTC as they can get their greedy hands on.

Any other questions?