I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.
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@molly0xfff maybe unrelated but Kraken went silent for now 👀
@molly0xfff law enforcement shouldn't waste resources defending what amounts to done amalgamation of a competing currency and an unregulated financial products
Of course, we're governed by people who have accepted bribes from crypto folks. Not to mention the fact that the Trumps / Republicans have done crypto rugpulls and have a pattern of spending the people's money to profit themselves & their partners in crime (all the no-bid contracts that have gone to Trump-related companies, insider trading on his illegal war while making oil expensive, the war itself over non-existent WMDs, more contracts FROM that war, etc).
@molly0xfff A billion here, a billion there, pretty soon we're talking about real money.
@BurritoSommelier @molly0xfff The only part of this I don't like is that the thief might have been North Korea or something.
@molly0xfff oof. I never thought about it, but that last part hit me. Deposit huge sums of fake value , then take loans against that in real money. Of course they do this. Especially with stolen points of fake value
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@molly0xfff “Actually, this is good for Bitcoin.”