In this episode of The Scoop, CoinFund Managing Partner David Pakman unpacks a new $300 million fund for crypto and Web3, including why the fund is specifically targeting early-stage startups.
The block article starts attacking cz_binance and binance after the secret discussion with Brain Armstrong from Coinbase?
He is using customer funds, to wrap ERC20 $BUSD. Just as terrifying. CZ is the worse player in the game.
a simple bank run and Binance will crumble. it's obvious af.
Somethings are better left unsaid. Recommend no more news like these, for the sake of the people, our industry (and your business).
They showed us how user deposits are 101% collateralized. 100% binance funds, 1% user
Audited by who ? 100% of $1B are 'clean' ? No ML ? After months of FTX / SBF support/adv/publication from now you guys moved to support CZ and the $1B with no real proof at all of source of funds
Why do the proof of reserves attestations include Binance's proprietary funds? Shouldn't there be a clear delineation between total liabilities, total customer funds in custody, and Binance's own holdings/profits? Lumping it all into one big number is not very informative...
So the proof of funds included Binance-owned assets and not just customer assets?
$BUSD doesn't count. Its fake money. Wrapped with client deposits.
Doesn’t that mean that noone out of crypto space wanted to invest in this recovery fund? And that also for the next 6 months we are about to get railed? 😜
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