With all the bad news coming in for Binance (stock tokens discontinued, UK ban followed by GBP discontinuation, SEPA unavailable), coupled with the recent change of jurisdiction from Malta to Cayman Islands, AND most importantly a potential #Bitcoin drop to 20,000s for, it’s terrifying to think what will happen when liquidations will start for leveraged accounts. In case you haven’t heard/read yet, Grayscale lockup period ends on 17 July (40,000 bitcoins will be unlocked); the next difficultly adjustment is on 18 July.
Another question is whether or not Binance can afford it? USDT is not supported by anything on Binance (BUSD is), plus they must keep their BNB liquidity.
I don’t know what will happen, hopefully nothing, but I’m not taking that risk. I’m out and now with Kraken. It’s gonna be one helluva week, 17-24 July. Brace yourselves and make sure your coins are safe, with or without Binance.
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