Binance isn't the ticking nuke you think it is.

Sup peeps? It's me, the guy that forces everyone reading his shitposts to buy him a beer (Consider yourself formally warned).

So, I've heard it, read it, seen it. It's here, in the room, with us. Binance FUD. Everyone is talking about how Binance is a ticking time bomb waiting to go off at a mere poke from the SEC or any of the rest of the alphabet boys.

But, have you thought about how much crypto Binance really owns? I mean, if you think it could nuke the crypto market it must be because you're assuming it holds a staggering amount of tokens, which, if were to be sold on the open market after being seized, would cause a crash in valuations, right?

Well, not really. You see, recently it seems that every player left in the market has either learned to self-custody their assets or become a vet from previous cycles. Let me preface things by saying that, according to glassnode, Bitcoin supply in exchanges has hit an all-time low of 5.3%.

These are Binance's holdings according to DeFi Llama:

https://preview.redd.it/g6w3yj2q5bkb1.jpg?789&format=pjpg&auto=webp&s=15ba0381111c7f393a7e7695c5887e458c72505a

Here's the big stack:

* USDT: 30.91% ($18.036 billion)

* BTC: 26.58% ($15.514 billion)

* ETH: 1.82% ($1.060 billion)

* WETH: 9.06%($5.285 billion)

let's compare their holdings against the market capitalization of each of these assets:

* USDT $82.831 billion (21%)

* BTC $506.605 billion (2.96%)

* ETH $198.906 billion (0.55%)

* WETH $198.906 billion (2.52%)

As you can see, the main risk vector here would be USDT, since they hold 21% of the USDT in circulation. That would be a huge bank run! But alas, if Tether was able to redeem this huge chunk of cash, not much else would happen.

However, look at BTC and ETH. Not more than 3%! That's peanuts! You could even compare it to dust!

This also lends itself to the recent speculation around CZ selling Bitcoin to support BNB. Why would they dump Bitcoin instead of a bunch of USDT? It's clearly the less scarce asset in their portfolio, and also the one they would have a bigger interest in dumping to mitigate counterparty risk.

So did ya'll learn something? Are 'ya still gonna piss your pants every freaking time someone whines about Binance? wen Tether kill? Anyway, you owe me a beer. I told you so.