Binance Isn’t FTX. It’s Much Bigger and More Systemically Important to Crypto | Crypto Craft

  • Binance Isn’t FTX. It’s Much Bigger and More Systemically Important to Crypto

    From bnnbloomberg.ca

    In every single corner of the crypto landscape, one name pops up: Binance. Run by Changpeng “CZ” Zhao, the world’s largest crypto exchange is a dominant force in everything from Bitcoin trading and digital art to venture capital. With its power and influence only increasing after the collapse last year of Sam Bankman-Fried’s FTX empire, the inconvenient truth is that Binance has a grip on the $1.1 trillion industry that has few parallels in traditional finance. That’s despite all the decentralization talk from crypto’s true believers. So the news Monday that the US Commodity Futures Trading Commission ... (full story)

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Goat
Mar 27, 2023 6:50pm
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Disagree that Binance is "More Systemically Important" than FTX. Binance customers know how shady the company is, whereas FTX customers were completely in the dark. This makes for less shakeup when Binance implodes or whatever.

Is it "Much Bigger"? That I don't know. You can't believe anything CZ says, and he has a tight grip on the firm.
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