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Fairpool AMA on Jun 8
* Binance & Coinbase have been sued by the SEC.
* Both exchanges took a defensive stance.
* The SEC alleges that Binance.US has routed the customer money to investment funds - we're not sure if it's true, but if it is, then Binance.US may not have enough money to handle all withdrawals.
* Binance International may provide a "loan" to Binance.US to cover the withdrawals. However, this loan may require using the customer funds from Binance International itself. This is pure speculation, and personally I believe it's unlikely, but it's still better not to hold any funds on Binance during the investigation.
* This is a battle between new & old. I hope Binance & Coinbase have enough supporters to overthrow the case. If that happens, it will open a new chapter in the crypto history. If investing-by-buying-tokens is fully legalized, we'll see many more companies adopting it.
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By Fairpool* Binance & Coinbase have been sued by the SEC.
* Both exchanges took a defensive stance.
* The SEC alleges that Binance.US has routed the customer money to investment funds - we're not sure if it's true, but if it is, then Binance.US may not have enough money to handle all withdrawals.
* Binance International may provide a "loan" to Binance.US to cover the withdrawals. However, this loan may require using the customer funds from Binance International itself. This is pure speculation, and personally I believe it's unlikely, but it's still better not to hold any funds on Binance during the investigation.
* This is a battle between new & old. I hope Binance & Coinbase have enough supporters to overthrow the case. If that happens, it will open a new chapter in the crypto history. If investing-by-buying-tokens is fully legalized, we'll see many more companies adopting it.