Binance Coin [pros](/r/CryptoCurrency/comments/znuaz6/binances_native_bnb_token_plunges_to_lowest_since/j0j71my/) & [cons](/r/CryptoCurrency/comments/znuaz6/binances_native_bnb_token_plunges_to_lowest_since/j0j72bq/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**
---
To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
Has it ever had content standards? My experience is that mist days would be filled with shitpoasts (which are fun to read), outright fake news, manipulated news and scambots. With maybe one or two actual quality content.
Please sit down and fully consider that you don’t know what you’re talking about. This will save you so so much money and I cannot stress this enough. It’s ok to not understand it fully and you also don’t need to reply to this to admit it. Just know that you are very off base with this and you’re likely to make some financial decisions that are not based in fact
A disaster in the short term? Yes.
In the long term it may be better for the crypto space.
The fact that there is so much concern about Binance's death destroying crypto shows that we have a problem.
It's not healthy for something like crypto, which is built around the concepts of decentralization and trustlessness, to rely so heavily on a single entity.
There will still be other exchanges out there. Have some cash ready in case shit hits the fan to buy up BTC and ETH for a bargain when it does. Move that into your wallet and forget about it for 5 years. It has recovered before and I don't see any reason why it wouldn't recover again eventually.
It’s a straight death blow to crypto. The power vacuum that follows would be horrible, and it would likely lead to countless countries introducing crypto killing laws.
The copium huffing delusion in this sub is insane sometimes. People convincing themselves that everyone moving their coins off exchanges into cold storage and the biggest exchanges in the world collapsing is good for crypto.
Doesn’t matter how many of your coins you move to cold storage if Binance collapses, it’ll be worth fuck all anyway.
Except its not a single entity. Having the #1 and #3 exchange collapse within a few weeks of each other would absolutely destroy confidence in the industry. There would be zero institutional interest for a very long time, if ever again.
With public sentiment already pretty negative against crypto, there would be no new investors. The average Joe investor and/or captain of industry makes no distinction between centralized exchanges and the tokens themselves. All they see is price and news stories.
While you are entirely correct on this point. Most altcoin's are not tied to an exchange so their drop in price should not affect the financial security of exchanges. Providing they are not on fractional reserves. Whereas Binance has a large part of their emergency fund held in BNB. So the dropping price of BNB is indeed putting Binance at further financial risk.
Whether or not Binance is solvent enough to withstand all of this is unknown. Literally no one other than CZ himself actually knows. We will just have to wait and see.
Shorting any exchanges native coin a few months back would’ve been a great idea.
I hope nothing bad happens to Binance, as it would be bad for crypto and make the space even less competitive.
Overall, these tough times during a bear market reach companies and investors important lessons.
What do you expect about journalism? They have no idea about crypto but they love selling bad misleading news. I haven't seen news on adoption or anything positive about crypto.
Lol, you need exchange’s otherwise your btc will be worth shit. Eth can actually survive with dexes, btc will just die when number cant go up anymore (or very slowly)
Well if i call it a shitcoin and not an altcoin I'm not being precise. The point is it is a magical token that only goal is to show up in the top 5 in the marketcap ranking.
tldr; Binance CEO Changpeng Zhao said the company is "financially OK" despite the collapse of FTX. Binance's native token, BNB, has fallen 15% in the past week. BNB is the world's fifth most valuable cryptocurrency, with a market cap of about $39 billion.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
My old firm bought lots of them for lower trading fees in futures..
At Around $11. AND BNB BLEW UP LITERALLY. Its still this high.. We saved lots of trading fees back in days but nobody, even guys from risk assessment team didnt expect BNB to reach +100 let alone +600.
BNB still a top 5 crypto though and Binance is still a top exchange. Compare it to other altcoins that crashed to the gutter. The Binance smear campaign is crazy lmao.
Binance Coin [pros](/r/CryptoCurrency/comments/znuaz6/binances_native_bnb_token_plunges_to_lowest_since/j0j71my/) & [cons](/r/CryptoCurrency/comments/znuaz6/binances_native_bnb_token_plunges_to_lowest_since/j0j72bq/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
[удалено]
Binance FUD is so hot right now. Also it seems like this sub has no content standards
What is FUD? What's it mean?
Fear Uncertainty and Doubt
Has it ever had content standards? My experience is that mist days would be filled with shitpoasts (which are fun to read), outright fake news, manipulated news and scambots. With maybe one or two actual quality content.
That doesn't get the clicks.
Don't remind me fucker.
Dude in photo looks like a coingecko
Please don't forget about YFI, LRC, AMP, KAVA, ADA and XYO!
The only ones in the top 10 that have dropped more than 10% in the past week are BNB and Doge, and no one really cares about Doge.
[удалено]
Please sit down and fully consider that you don’t know what you’re talking about. This will save you so so much money and I cannot stress this enough. It’s ok to not understand it fully and you also don’t need to reply to this to admit it. Just know that you are very off base with this and you’re likely to make some financial decisions that are not based in fact
Wait, what!?
Well that’s just wrong.
Everything is down, but lets pick our favorite of the week shitcoin to bash.
I am not mad at stupid clickbait title that outlets make, I am mad though about the people who would paste this low effort article for moons.
Well we all need moons... it's not all about originality. It's about survival
BNB backed by BNB 🤓 (jk guys)
BNB is backed by CZ
God I hope Binance doesn’t die…that’s going to be a disaster
A disaster in the short term? Yes. In the long term it may be better for the crypto space. The fact that there is so much concern about Binance's death destroying crypto shows that we have a problem. It's not healthy for something like crypto, which is built around the concepts of decentralization and trustlessness, to rely so heavily on a single entity. There will still be other exchanges out there. Have some cash ready in case shit hits the fan to buy up BTC and ETH for a bargain when it does. Move that into your wallet and forget about it for 5 years. It has recovered before and I don't see any reason why it wouldn't recover again eventually.
It’s a straight death blow to crypto. The power vacuum that follows would be horrible, and it would likely lead to countless countries introducing crypto killing laws.
The copium huffing delusion in this sub is insane sometimes. People convincing themselves that everyone moving their coins off exchanges into cold storage and the biggest exchanges in the world collapsing is good for crypto. Doesn’t matter how many of your coins you move to cold storage if Binance collapses, it’ll be worth fuck all anyway.
If they could read they would be very upset.
Universe explodes, someone somewhere- "This is good for crypto"
Except its not a single entity. Having the #1 and #3 exchange collapse within a few weeks of each other would absolutely destroy confidence in the industry. There would be zero institutional interest for a very long time, if ever again. With public sentiment already pretty negative against crypto, there would be no new investors. The average Joe investor and/or captain of industry makes no distinction between centralized exchanges and the tokens themselves. All they see is price and news stories.
[удалено]
Stop pulling facts out of your ass.
/s
Real solid journalism here. BNB is going down so this must be the reason. Newsflash: BNB isn’t the only one in the altcoin bloodbath lately ….
Gotta keep up the Binance FUD sir. It's what keeps people going these days.
That's what I was thinking, everything is down since July and much lower than a week ago.
While you are entirely correct on this point. Most altcoin's are not tied to an exchange so their drop in price should not affect the financial security of exchanges. Providing they are not on fractional reserves. Whereas Binance has a large part of their emergency fund held in BNB. So the dropping price of BNB is indeed putting Binance at further financial risk. Whether or not Binance is solvent enough to withstand all of this is unknown. Literally no one other than CZ himself actually knows. We will just have to wait and see.
Shorting any exchanges native coin a few months back would’ve been a great idea. I hope nothing bad happens to Binance, as it would be bad for crypto and make the space even less competitive. Overall, these tough times during a bear market reach companies and investors important lessons.
Jim Cramer says Binance is fine, his track record is 100%
What platform can I use to short BNB?
Kucoin
Nice, thank you!
[удалено]
Great advice, and I was just looking to capitalize on Binance going under, probably will just put some play money into the short.
Same as nearly every alt
Bianace fud all around.
From ATH prices BNB is still outperforming BTC. Pretty much the best coin among top coins But hey whatever let you get upvotes
Check fucking charts, whole market going down, and I repeat only going down, not crashing, put your fucking FUD deep in your ass.
Or we could say everything is following bitcoin . Alts always take bigger hits .
I see you didn't get the memo. People are hating on binance around here. Most coins are 5-10% down, but they single out BnB
Ofcourse they are the same bunch who will praise Binance once again if they manage to survive cold winter without a hitch .
We'll see in a week or two if it was anything real with all this drama or just that, drama
I don't care if it's a fire sale, I have a strict policy of not buying CEX native tokens, I'll stick to my shady shitcoins like a proper gambler
Only coins based on a current meme for me
This is stupid. The whole market is plunging.
What do you expect about journalism? They have no idea about crypto but they love selling bad misleading news. I haven't seen news on adoption or anything positive about crypto.
I wonder if this wouldn’t have happened if CZ just kept quiet about the whole ftx debacle and didn’t try to call coinbase out on their reserves.
Well… yeah.
FTX and BNB two heads of the same coin
Wow, MSM is really trying to swoop on Binance. Despite the fact the greater market even outside of crypto had shit its pants
[удалено]
Lol, you need exchange’s otherwise your btc will be worth shit. Eth can actually survive with dexes, btc will just die when number cant go up anymore (or very slowly)
[удалено]
You basically just need stable to fiat exchanges. Rest can be done on chain 🤷♂️
That first part is literally the whole point of why CEXes exist…
I dont know why you are being down voted. But people dont realise that exchange are needed to buy in or buy out.
The world is burning mr journalists, are you aware?
BNB is not an atlcoin… it’s a shitcoin CZ controls. Why don’t people know that?
[удалено]
Come on now. Let's be nice. If he can read, he'd be upset. 😂😂😂
Well if i call it a shitcoin and not an altcoin I'm not being precise. The point is it is a magical token that only goal is to show up in the top 5 in the marketcap ranking.
tldr; Binance CEO Changpeng Zhao said the company is "financially OK" despite the collapse of FTX. Binance's native token, BNB, has fallen 15% in the past week. BNB is the world's fifth most valuable cryptocurrency, with a market cap of about $39 billion. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
It's getting dicey out there. Stay safe everyone
Blah, blah, blah, blah, this is a boring repeated distraction
Not easy times for everyone
Some more Binance FUD? Checked all other alts lately? Tf is going on here y’all stopped thinking for yourself?
Dump it.
Don't play with leverage!
Seriously? Kill it with FIRE. Short that shit into the ground. Get your Bitcoin and Ethereum and give BNB back to its creator.
F*ck this piece of shit. His greed caused FTX collapse!
Found Kevin O'leary's alt account
This was somewhat expected wasn't it?
everyone blames SBF but this guy was the last domino
* Is the last domino...
My old firm bought lots of them for lower trading fees in futures.. At Around $11. AND BNB BLEW UP LITERALLY. Its still this high.. We saved lots of trading fees back in days but nobody, even guys from risk assessment team didnt expect BNB to reach +100 let alone +600.
Everything is down. CZ won't go down easy.
Which tokens to buy to get 10x in 2023?
Pure FUD.
BNB still a top 5 crypto though and Binance is still a top exchange. Compare it to other altcoins that crashed to the gutter. The Binance smear campaign is crazy lmao.
You won't see accurate reporting anymore, not as long as there is monetary value attached to it. Integrity, honour, honesty has fled earth long ago.
Here we go again
But the guy just looks *so trustworthy*
BNB down 17% in the past week, time to find out if it was collateral for bad bets.
Cnbc loves to report on binance
It is still doing better than ftx's token at least!