Do the court and third-party auditing institutions get involved? You’d have to be looking to die—like taking rat poison.
What’s the difference between this and handing over money?
No wonder it went bankrupt—an exchange that’s been around longer than Binance for all these years has still been operating like this.
Second, if they decided to shut things down, they should have immediately started inventorying and consolidating the assets. Once this kind of announcement goes out, a withdrawal bank run is definitely going to happen. After running an exchange for so long, don’t they even have that level of awareness?
Or do they know a stampede is coming, so they deliberately didn’t inventory and consolidate the assets in advance, and instead directly limited withdrawals—so they could buy a bit more time to make an exit?
No wonder they couldn’t grow. After all this time, even the founder’s PR copy has been utterly atrocious.
What’s the difference between this and handing over money?
No wonder it went bankrupt—an exchange that’s been around longer than Binance for all these years has still been operating like this.
Second, if they decided to shut things down, they should have immediately started inventorying and consolidating the assets. Once this kind of announcement goes out, a withdrawal bank run is definitely going to happen. After running an exchange for so long, don’t they even have that level of awareness?
Or do they know a stampede is coming, so they deliberately didn’t inventory and consolidate the assets in advance, and instead directly limited withdrawals—so they could buy a bit more time to make an exit?
No wonder they couldn’t grow. After all this time, even the founder’s PR copy has been utterly atrocious.
