Look, I actually agree with the core of your argument. No / bad audits are a red flag to me too. I'm just saying that using the word "fucked" still is speculative and an overstatement. I would use "untrustworthy", "shady", "dangerous" etc, but not "fucked". That's all I'm saying.
Re:Binance Is Fucked
by snowwrestler on Saturday December 17, 2022 @12:12AM
(#34024962)
That's a fair response, makes sense. Thanks.
Yes, this is in fact the rationale approach to financial institutions. It is why solidly-run companies invest in audits: to demonstrate, on a regular basis, that they are solvent and stable (not fucked).