'There is an ongoing attack on XMR by Binance. Faking its price on purpose in an attempt to release CZ from the U.S. judicial custody.' — exch.cx (qu.ax)

submitted 9 months ago by rottenwheel@monero.town to c/monero@monero.town

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[-] VolunTerry@monero.town 1 points 9 months ago

Yeah, I definitely don't think Binance exists solely to target XMR. It exists to try to hammer crypto at large into a traditional centralized legacy banking framework of compliance and control.

Many involved have and will get filthy rich and powerful and well connected in the process. Some will be sacrificed. This is why the centralized exchanges have been tolerated or encouraged by states around the world.

People who rely on centralized solutions instead of decentralized ones in this space have some more rude awakenings ahead of them.

[-] tusker@monero.town 2 points 9 months ago

Never said it existed solely to attack XMR.

Binance was left alone by "regulators" for years until they committed so much fraud that they could be taken over and used as a weapon, against XMR or any other purpose.

[-] WarmApplePieShrek@lemmy.dbzer0.com 1 points 9 months ago

It doesn't have to try that. Centralized exchanges are better at being exchanges. That's a fact. The trading fees, latency and barriers to entry are much lower, so people naturally flock to them.