This is worth another 1% fed rate hike all by itself
Told yâall
I would rather lose $200 than win $100 and give Trump $100.
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Also a 2x isnât very exciting given the time + risk involved.
In non-finance-bro speak this means?
Iâm personally stunned suzz doesnât understand something in this thread.
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Dude, sincerely, please try to stop being so combative for no reason?
Mazarâs is paid to verify that Binance is a-ok, but they think Binance has made too risky of bets with their depositorâs money. Similar general situation Lehman Brothers was in.
Is this projection or a bit?
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Im not sure it is that extreme.
I personally wouldnt really trust binance and think the upside/downside on anything crypto is horrible until we see how much contagion has spread, but I wouldnt read that much into Mazar pulling their âproof of reservesâ.
I would read it more as they still think Binance is opaque and just dont want to take the reputational risk of vouching for crypto exchanges right now.
Not a great fact, but not an outright condemnation.
Itâs most likely not that extreme. I was trying to think of a popular situation that was similar in type, but not necessarily in magnitude.
Getting out of the business of providing these reports is NBD, but pulling existing reports from their website is a little weird. It doesnât make a lot of sense as a PR move, because it will draw more attention to the reports than just quietly leaving them there.
It was sort of a weird document. It wasnt really a solvency opinion, it was a very limited scope document on a specific day.
If they have decided we just arent comfortable with everything crypto and Binance wasnt being totally forthcoming (which might not be nefarious) I could see why they might pull the document rather than have to deal with the risk of something going sideways and having to explain âactually that was beyond the scope of our engagementâ.
Why is âovercollateralizedâ bad? Shouldnât collateral in general be good? Are the bitcoin reserves the collateral or the thing collateral is held against?
Also what does it mean when an auditor âdeletes a proof of reserves statementâ? Why are auditors deleting things? Does that mean the auditor is deleting it from their own website or something?
Yeah Iâm sure you knew exactly what all that meant.
Some of us like to try to understand what things mean beyond âsounds badâ, and donât think asking questions is a sign of weakness. You otoh have curiosity of a tubeworm.
wat ta fuk am i reading
Is this projection or a bit?
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Also I missed out on the obvious questions from someone as incurious as I. What is a tubeworm? Did you ever get to 2nd base with the lady you flew to Costa Rica to bang during the height of Covid? Why do you spend your life JAQing off in the Crapto thread?
Can we just get a separation of powers where Wichita, Suzzer and Riverman are forced to keep each other on ignore?
For the same reason I stay 20,000 internet miles away from the About Moderation thread, I would like to place to come and laugh at ridiculous Crypto news without having to wade through hundreds of posts of pointless insults that have been made hundreds of times already.
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