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Binance has come under scrutiny. Apparently, people are no longer used to the days when exchanges would suffer external hacks. Any form of issue with centralized exchanges seems like a premeditated internal scam attack attempted to steal people's money.
In this video, I talked about why it'll be difficult to see the inessence of fud since trust is a huge issue in crypto due to the maliciousness of centralized exchange. It's now difficult for CZ to assure people that nothing is going on with binance, as it's majorly fear.
However, in the previous days, he's had it difficult to prove that binance had money in their reserves and this is because basically he's being scrutinized as SBF. In the future, every centralized exchange CEO will be treated as SBF and this is basically because of the precedents of FTX, while this is good for checks and balances, it also makes it difficult for trust which is an important phenomenon in Crypto to return.
We cannot question the importance of binance to Crypto, we cannot underestimate it, however, it'll easily come under scrutiny because of the latest events in crypto.
In this video, I talk about why this will always happen because money is at stake and the recent precedents in Crypto means people might always remain on edge about centralized exchanges for a very long time.
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