Binance's books are a black box, filings show, as it tries to rally confidence

Re:Binance's books are a black box, filings show, as it trie... by corv on Monday December 19, 2022 @02:06PM (#34056197)

No, Tether and their banking partner Deltec have very little international backing, nor are they the same entity as Binance.

Strange to call Tether and Binance, "weapons aimed at the West", when their implosion would surely do more to damage cryptocurrencies than global US Dollar hegemony.

Of course one would be smart to use other platforms rather than creating single points of failure....

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Re:Binance's books are a black box, filings show, as it trie... by JumpCrisscross on Monday December 19, 2022 @02:12PM (#34056255)

> their implosion would surely do more to damage cryptocurrencies than global US Dollar hegemony

Crypto never threatened the dollar. What is creating issues is crypto’s risks causing losses to Americans and, possibly, the American financial system.

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Re:Binance's books are a black box, filings show, as it trie... by corv on Monday December 19, 2022 @02:21PM (#34056381)

This crypto and asset bubble was of their own making!

Quantitative easing directly lead to inflated asset prices and inflation.

Then VCs jumped on the bandwagon and pushed FTX to unsustainable heights.

Now people all over the world are suddenly supposed to sit in cash while everything is crashing with high inflation to boot?

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Re:Binance's books are a black box, filings show, as it trie... by rvnx on Monday December 19, 2022 @02:35PM (#34056553)

This is why God created I-Bonds.

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Re:Binance's books are a black box, filings show, as it trie... by fredgrott on Monday December 19, 2022 @04:00PM (#34057646)

also strange wording given US banks are for the most part prevented from offering banking services of crypto exchanges.

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Re:Binance's books are a black box, filings show, as it trie... by __derek__ on Monday December 19, 2022 @05:37PM (#34058785)

> Tether and their banking partner Deltec have very little international backing

Isn't Tether based in Hong Kong?

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