/biz/ - Business & Finance

>>52413156
To each their own*

Try withdrawing BTC then

If people are reacting, then the FUD is real. Crypto is entirely a game of chicken, not based on a real company. Shorting a worthwhile company has no effect on it. If too many people pull out of the game of crypto chicken before you, you lose.

>>52413156
short CRO now and thank me in 3 days.

>>52413204
No anon, i think OP should put everything in cro right now.

>>52413204
You don’t understand, this is how all bank runs work. Doesn’t matter if it’s your local bank, Bank of America, a credit union or a crypto exchange, if enough of the customer base decides to withdraw at the same time due to propaganda or even genuine concerns, the institution will no longer be able to operate. This is how all financial institutions in every corner of the earth operate my man. They have to lock withdrawals to prevent their entire operation from imploding. The same would happen to Coinbase if everyone Twitter started saying they were insolvent. Same thing for any bank, they would immediately halt withdrawals. This is literally how it works, sorry to bust your bubble

>>52413156
Gate are fucked, they needed cryptocom to pretend they had money.
Cryptocom actually has the money.

CRO is pumping my bloody bhenchod basterds

>>52413309
Crypto exchanges are not supposed to be donating to politicians or gambling with your money, just making profit based on fees.

>>52413156
So what you're saying is you're holding CRO bags when you have no reason to and don't want over people to fuck you over

>>52413309
Gee it’s almost like fractional reserve banking is a Ponzi scheme

>>52413365
Not true, a crypto exhange is a market maker and also a crypto bank. It’s called fractional reserve lending and as much I hate it or don’t agree with it, it’s how every single financial institution in the world operates. If enough people on Kraken or Binance decided to withdraw their funds at the same time, they would also halt withdrawals because it would literally break their system. Same with any fucking bank, small or big. Them halting withdrawals is the same as the stock market issuing a halt on trading for a day, it’s a fail safe breaker flip switch to prevent total failure. Any bank in any country would do the same thing. This is not unique to Crypto com

>>52413156
Theresa crypto.com outage as we speak. If you have money on there nows the time to get as much moved off to cold storage.

>>52413383
Yes it is, but it’s not fair to say Crypto com is unique for using it, see my response here >>52413482

>>52413156
I like CRO, I hope they don’t fail, I don’t have any of my shit on there, I transfer it out when I buy, so I won’t get hurt if they go under, but I still hope they don’t, they were good to me

>>52413156
agree, fud feels coordinated. lots of copy&paste fud

phrenology bros...

>>52413790
Lmao you fucks never learn.

>>52413204
It took 6 hours but it finally cleared.

bump

Bought a bag. Will I make it CDC Bros?

>>52413156
i turned $150 into $3500 on cro
plus the card is kinda cool

>>52413156
Bagholder

>>52413309
>STOP REDEEMING
>CANT YOU SEE BANKS DO THE SAME?

>>52413204
yeah, took me less than 5mins to transfer BTC to trust wallet. Still have some left on Earn though, any way to do an early cancellation?

>>52413156
Yeah, I don't have any funds there but there were so many
>crypto.com is next!! Get money out now!!
threads last night that I smell bullshit

>>52416366
Close your account is the only way

>>52413156
same stuff had been said about ftx and blockfi. verbatim. just days ago...

>>52413309
>PLS DO NOT REDEEM WHAT YOU PURCHASED !!!!

>>52413156
i mean, through the past 6 months of chaos, 99.9% of people who are gonna sell have already sold. there's 0 genuine sell pressure, all the price pressure is from people shorting on binance now. IF they survive this fake screetching, it is gonna strengthen them a lot in the future. plus it'll be a lot harder to start a new exchange now, and they've been on the market since 2016. they have a unique marketing strategy that only FTX copied, nobody else in crypto is like them. without FTX their pump last year would have easily been 3 folds as big at least, and with FTX out of the picture now they may cover an entire segment in crypto.
even IF there's a 50% chance of bankruptcy, they upside from here is not a 2x but way higher than that. so realistically picking up a bag rn is not a horrible idea. not a HUGE bag because the baknruptcy scare is real, but a modest CRO bag is actually a pretty decent buy right now.

>>52413156
>No PCI-DSS Attestation of Compliance document posted for any years
>no SOC2 audit results posted

good luck buddy boyo

>>52413790
well yeah, you think this shit is organic? we're obviously seeing great power conflict using weaponized financial institutions tied to great power blocs, tether was always a built-in killswitch for crypto

>>52416366
so you have an open account still?
with your bank linked to it?
and you realize ACH exchanges are initiated from the exchange side?

>>52413503
banks are federally authorized to do fractional banking. crypto exchanges are not and any honest one will never touch customer assets

the fact you genuinely dont realize this is fucking hilarious, please put all your coins on crypto.com because you deserve whats coming

>>52417016
>banks are federally authorized to do fractional banking. crypto exchanges are not
LMAO binance 100% does it CZ blamed the entire FTX fiasco on them collaterizing their tokens when the real cause was obviously not having the funds credited to users at reserves at 1:1.
an exchange losing money on collaterizing on their tokens remains solvent if they have user credited funds in their reserves, and an exchange doesn't need to collaterize their shittoken to become insolvent if they don't.
it's just not something he could have denied so he choose to scapegoat an entirely idependent issue with them kek

>>52417016
You are a brain dead nigger, lower your tone when you reply to me. I bet you think CZ is cool and he runs a white hat exchange. Binance is a CCP run organization and BNB is a chink tech glorified database, it is a house of cards just like ftx but only more sophisticated. Kris from CDC isn’t a saint either, probably pulling a few cheap shots in his organization as well, but to say that cdc is unique in what I have described is 100% ignorance and fanboy retardation. CZ will rob you blind if his paper house begins to show it’s cracks, way faster than Sam did. Also, no crypto exchange is fucking authorized to do anything, it’sthe Wild West right now. WELCOME TO THE FUCKING SHOW

>>52413482
Crypto exchanges absolutely should not be market makers brainlet.

>>52413156
Celsius idiots said the exact same thing
they got rekt. so will you

>>52418482
Cdc will slowly drain. Only a brainlet will lock their funds in an exchange that sends crypto to the wrong address constantly
https://portfolio.nansen.ai/dashboard/crypto.com

>>52418482
okay but there are fudders for literally every single company in existence. are they all correct according to you? every company is secretly bankrupt?

>>52417354
you have nothing to lose from withdrawing and everything to lose staying on the exchange, if you withdraw doesn't mean you can't redeposit at a later date... pride comes before the fall

>>52418611
>every company is secretly bankrupt?
most exchanges are, yes
you can literally see them on the blockchain right now playing a shell game to produce fake "proof of reserves"

>>52413482
Banks are in the business of tying themselves to ASSETTS fractionally, not vaporcoins like the FTT that got Bankman fried. Oh, look what underpins the Crypto.com empire!

Dead. Fucking dead, even. 25% holy shit, after all that slow bleed. There's nothing left.