Well what a crazy week it has been.
SBF arrested, Congressional hearing on FTX, fed raises rates…but the BIG Question looming
over the markets…is Binance going to go down!!??
Are they the next domino to fall?
How low would Bitcoin go if this happens?
Well find out in around ten minutes, because it’s time for Chico Crypto!!!
Rumors are running wild that the Binance exchange doesn’t have full reserves, and their demise
could be coming very soon!!
They hype of this came from popular twitter influencer, Dylan Leclair, who posted screengrabs
about Binance.
The person warning Dylan said “let people know to get their funds off Binance.
Use my tweet if you want to, or create your own.
People need to know: Executives are bailing, institutional (Jump Capital) Fleeing, and
charges coming.
Dylan asks for more info.
The leaker says “they’ve confirmed leadership losses, accounting contacts have serious issues
with their POR, no reporter can confirm the identify the parent or ownership structure
of Binance, and can’t track down a meaningful listing of executives beyond CZ.
All items and stories are set to come out from outlets like CNBC, Bloomberg, TruthDAO.
Well guess who warned Binance would come after FTX 2 weeks ago?
Chico Crypto did…we posted this video “BINANCE IS NEXT!!
We Have *100% PROOF* They Run On Fractional Reserves!!!??”
and in the video I showed that their proof of reserves website may have released their
liabilities instead of their reserves, and things do NOT look good…that video is down
in the description if you would like to check it out!
But is anything Dylan tweeted true??
Well yes over the past 6 months, 7 high level Binance executives have jumped ship including
Brian Qian, head of Binance Labs.
Binance US “QUIT” the major US crypto lobbying association in April of this year…aka
they were booted out for some reason.
No one amidst when they were fired or broken up with…same goes with this.
So they will set up their own…aka no US lobbying association will let them join.
How about institutional capital fleeing the exchange?
Like from their main market maker JUMP??
Well large amounts of capital started leaving the exchange, billions in 24 hours…I’ll
tell you what…that isn’t all retail!
Well an Andrew, @AP_ArchPublic on twitter, tweeted earlier this week.
“Take a look at the jump withdrawals from Binance in the last
7 days… **this is a significant uptick for Jump and others with a screenshot of withdrawals
from Binance.
And yup, JUMP who is Binance’s biggest market maker is withdrawing like mad…so are many
other large institutional players and they were doing it before this FUD started.
What about charges coming for Binance from US authorities and regulators?
Well rooters put an article this week “Exclusive: U.S. Justice Dept is split over charging Binance
as crypto world falters” and the article says “Splits between U.S. Department of
Justice prosecutors are delaying the conclusion of a long-running criminal investigation into
the world's largest cryptocurrency exchange Binance.
Some of the at least half dozen federal prosecutors involved in the case believe the evidence
already gathered justifies moving aggressively against the exchange and filing criminal charges
against individual executives including founder Changpeng Zhao, said two of the sources.”
Wuh OH Binance is in trouble, the DOJ is coming to burst the exchange bubble!!!
I wonder why Binance is in the DOJ and regulators crosshairs?
Well they are doing some terrible and shady shiznit, in my opinion….like the BNB chain
being used as a centralized honeypot…wash trading funds…
Deso, God of Vision on twitter tweeted “Just a heads up; i've got more digging to do but
i've got some damning evidence that BNB's mostly a Binance shell game.”Binance hot
wallet 22 with 1,006,999.98 BNB in balance.
How did it get there?”
They then show onchain proof of what happened and say “Well OK maybe it's "normal market
operations" moving a million BNB.
Checking Wallet 20 (which has a lot more transactions) to see where *it* got 1 million BNB from;
i came across this…showing the onchain activity.
He then says “Now i can't for the life of me figure out why Binance moved, in aggregate,
2.4 MILLION BNB out of Binance Hot wallet 6, to Hot wallet 20, only to move it back
to 6 2 days later, and drop a million in Hot wallet 22 a few days after that.
Meaning Hot wallet 6 sends to 20 which sends it back to 6; but that's the VAST majority
of BNB token movements!
Here's some smaller ones to show that they do happen and do get shown; but you have to
look for them in a sea of zeroes.
Other large transactions are very rare.
HOT wallets *should* be FAR more active.
How convenient is that?
Aside from these things acting like crypto tumblers to begin with, CZ can claim ANYTHING
about Hot Wallet 6's activity as it's unverifiable.
If the people they say are trading BNB on their platform don't actually exist and they're
washtrading bots instead, that would look *exactly* the same as it does now.
So there you go.
It's up to cz_binance to explain why the vast bulk of BNB in wallets moves in chunks or
doesn't move at all.
And if it's because it's all internally settled on Binance; we need PROOF of THAT, because
the whole point of crypto is on-chain verification.
Well, isn't this just convenient?
CZ was on CNBC yesterday, and was asked why his exchange didn’t do a full audit and
proof of reserve….let’s watch CZ squirm and say the BIG 4 doesn’t know how to audit
crypto exchanges….let’s listen in….
CZ
is obviously squirming, stuttering left and right throughout that entire question…and
he says the BIG 4 don’t have the skills to audit his exchange….I’ll have to say
IS Laugh out Loud.
Because if they were audited, it would be revealed BNB chain is a honeypot…used for
washtrading…
And the BIG 4 does know how to audit crypto companies and exchanges.
Deloitte is a BIG 4 auditor, and as we can see…they have blockchain services.
They even have a section on the website titled “An internal auditor’s guide to auditing
blockchain”...Same goes for another BIG 4, Ernst & Young….they offer blockchain
services, including many blockchain auditing tools, even a blockchain reconciler…
Again why no audit when these guys can obviously do it.
Well also it would be found out, the Binance Charity is being used in nefarious ways.
I created a video on this back in 2019 tracking funds from their charity titled “ Binance
& Justin Sun.
Million Dollar Donation Lies!
Charity Funds Tracked” and let me tell you some REAL shady stuff was happening with the
funds.
That video is in the description too if you want to give it a watch!
And finally there is this!!
Bitfinex’d on twitter tweeted “EXCHANGE COORDINATION ROOM IS REAL.
🚨1.
Messages are set to expire after 4 weeks.
2.
CZ demands a pause of trading & withdrawals except for...
TRON shitcoins?
3.
Former Bitfinex employee Zane Tackett, who wanted to bet against Tether with him, is
in the room with proof of the room and CZ in there!
Exchange coordination?
Exchanges are coordinating together?
Yeah that is illegal….
Bitfinex’d continued, dropping more…So let's review:SDNY takes over Tethers criminal
investigation.
Tether PR increasingly going on cocaine benders.
SBF, Tethers largest customer, arrested for fraud.
Paolo Ardoino freaking out about a 250,000USDT trade depegging Tether.
CZ freaking out in "Exchange Coordination"...with the proof of chat.
Then there is this from Bitfinex’d…he tweeted with proof “Meet Zane Tackett.Zane
Tackett was allegedly an employee of SBF.
Zane Tackett is an admin of "Exchange Coordination" Zane Tackett, while working for SBF, makes
CZ an admin of Exchange Coordination CZ then asks to eject Zane Tacketts boss (SBF)
from the room.
WHO DOES ZANE WORK FOR?”
And finally this…Bitfinexed tweets “Paolo to CZ: “Kudos, by the way for exposing the
FTX fraud, that was masterfully executed”...
Obviously this exchange coordination room had a major leak….and we are just getting
the leftovers.
I bet there are more damaging conversations…and they could be in the hands of the DOJ and
regulators!!!
Well viewers, I do hope Binance goes down…as BAD actors in the space NEED to go!!
Bitcoin would crash yes, but it would bounce back hard around 10k…and another exchange
would take over right where Binance left of…crypto doesn’t needCZ or binance…it doesn’t
need anyone.
Because it’s trustless….Cheers I’ll see you next time!!