After 2008, the Current situation is the worst in the US and no one thought so. World's largest banks are almost dead in the US and no one ever thought about this. People saw this type of crisis in 2008. Jp morgan's CEO has said that the banking crisis speed will be 2x so it seems like many banks are going to collapse. These banks are not operating correctly and this is the bigger reason behind the crash.
Listen not even government thinks about the people. They have only one solution which is a money-printing machine. I think this is a real scam. In the short term, these things are bearish but in the long term, you don't need to panic and just hold your crypto. 2 Days ago bitcoin was felled by $1200 so there are many Twitter users who said that the US government selling their Bitcoin. So my friend this is the time when you listen to lots of fake news and you have to save yourself from this news. Stay away from fake news.
The last time when the 2008 crisis came, The situation went out of control and this crisis is the cause of bitcoin birth. In this type of situation, bitcoin can help us. Common people can save their money by keeping it in Bitcoin. Just imagine you have done a fixed deposit in any bank to earn interest and if a crisis comes then you will lose your money for sure. There are lots of people who lost their money in the banks. I have experienced this in real life. Actually, this does not happen with me but with my friend.
This is a small update that I wanted to share because this will connect you to the main topic of this post. Somewhere, you can relate to it.
Bittrex US collapse
This just happens recently and I have told you details regarding this in my previous post and video also. before that, there was coinbase issue and the coinbase company also have a conflict with SEC. So in the coming time, we can hear more bad news regarding the US crypto space. You can now relate to it because everyone has a question that why these bad pieces of news coming together. One by one they are targetting cryptocurrency exchanges.
The reason is simple, they don't want crypto. And now connect this to other exchanges because they are businessmen too and they don't want to lose. Because of this specific reason not only Binance CEO but we will see that other exchanges will reduce their stake in the US. And maybe they can file for bankruptcy because we can expect a worst-case scenario here.
CZ Binance reducing the Binance US stake
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After understanding the coinbase conflict and the Bittrex US bankruptcy, you can now understand why CZ doing this because in the end he is a businessman and he doesn't want to lose the money. And I am not spreading panic but this is the thing that you must know.
There is Binance US and Binance Global as you saw in the case of Bittrex. Binance Global not going anywhere but in the US situation is not good. Cz is quietly reducing his stake in Binance US because he knows that he will face consequences regarding Binance US. The regulation is very tough in the united states. Well, Binance US is not going to bankrupt and there are no official updates regarding this but we can't ignore this. He is just reducing the stake of Binance US.
If you are holding your big money in any centralized exchange, in the end, it is risky. So I never do this because centralized exchanges are excellent for trading but not for long-term holding. you have to get used to decentralized wallets. I am also trading on Binance but not keeping my big amount there. There are systematic investment plans, loans, and staking so the facilities are good. Also, the features are user-friendly and convenient so they are better for trading but not for long-term holding. Anyway just reblog this post and share it on social media.
Thank you.
Lucky Ali
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| Hi I am lucky ali from gujarat, india. I am crypto enthusiast, blogger and SEO developer. I always interested to learn new things and getting new experience. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |