Coinbase is attacking Tether now while Binance is attacking every other exchange and Kraken is attacking Binance. We are literally having a war with ourselves right now.

The amount of conflicts that especially the FTX collapse set on is not summarize-able in any way. But to just say that literally every entity in crypto is out after another entity before they get attacked themselves. I know all of this just sounds like gibberish but here is an part of that big conflict as an example:

How did this all start? Well, Binance attacked FTX on the basis of some leaks, then they won this battle and went on to attack other exchanges like CDC or Coinbase and said that they don't have any proof of reserves themselves (meanwhile even binance themselves did not have a proper one). Then Kraken stepped in and rightfully showed CZ his place by saying that his Proof of Reserves are "pointless" as there were no liabilities included.

This is just a very small part of this "war" as you may call it, in which crypto is fighting with itself and many may think that this is bad but it actually is not...

At the end of the day such conflicts will only come down to whoever was telling the truth and who not. If it escalates further there will surely be blood sheld but rightfully some. It could be that the exchanges actually lying to us like FTX did (there are surely more left) will just get the same treatment as FTX. The crypto market will be cleaning itself.