Sirwin
Sirwin

Is Binance Still Safe 100 Days After CZ Left?

By Cryptofab | Cointune | 11 Mar 2024


I saw that today there is an online meetup with Binance new CEO, Richard Teng. Here is the link to join: https://s.binance.com/ENEjywRH

Remember, CZ officially handed the reins over to him 100 days ago, but let's just say there's still a lot to unpack.

Here's the thing: The way Richard Teng carries himself is definitely different from the CZ we all knew. Now, that doesn't necessarily mean anything bad, but it definitely sparked some serious questions in my mind.

Is this just a natural shift with a new leader, or has there been a more fundamental change within Binance?

The meetup itself could be interesting. Richard Teng definitely has a different approach, but whether it's for the better, well, that's the big question everyone's asking.

I've been using Binance for a while now, and like many of you, I've always wondered how secure my funds really are on these crypto exchanges.

Here's the deal: Binance is HUGE, still much bigger in transaction volume than the other spot crypto eelxchanges as per Coinmarketcap:

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But with all that popularity comes a bullseye on your back. Hackers are constantly looking for weaknesses, and there have definitely been some security breaches on crypto exchanges in the past.

So, what's Binance doing to keep our crypto safe? They have this thing called the Secure Asset Fund for Users (SAFU). Basically, it's a backup plan in case something bad happens. They also use two-factor authentication, which adds an extra layer of security.

Now, here's the thing that bugs me a little. Binance isn't exactly forthcoming about where their headquarters are located. Some folks might find that a bit fishy, maybe they have their reasons. 

Although Binance seems to be taking things seriously, that doesn't mean we shouldn't be vigilant.

 

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Cryptofab
Cryptofab

Studying Bitcoin, Alts & Arts.


Cointune
Cointune

Crypto, DeFi and passive income.

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