Re:Binance Is Fucked
by prepend on Friday December 16, 2022 @07:05AM
(#34013647)
There doesn’t seem to be anything new. But the same reasons I’ve always thought they were fucked- they are attesting things and won’t get audited.
There’s a really simple solution for them and every reputable finance company (and many unreputable ones) - get an audit.
And they’ve dodged it for years. I can’t imagine a situation where I would ever bank with a company that wouldn’t be under regulation or have an independent confirmation of their solvency.
They are fucked in the sense that the only reason to not audit a multi-billion dollar firm that’s based on trust is that they are full of horse apples.
I’m surprised that they’ve lasted this long without blowing up. I hope they pull it out, for the sake of their customers.
There’s a really simple solution for them and every reputable finance company (and many unreputable ones) - get an audit.
And they’ve dodged it for years. I can’t imagine a situation where I would ever bank with a company that wouldn’t be under regulation or have an independent confirmation of their solvency.
They are fucked in the sense that the only reason to not audit a multi-billion dollar firm that’s based on trust is that they are full of horse apples.
I’m surprised that they’ve lasted this long without blowing up. I hope they pull it out, for the sake of their customers.