There is a typical saying in Spanish, which I don't know if something similar exists in English.
"Cuando el rio suena, agua lleva" whose literary translation in English is "When the river sounds, water carries".
In any case, the proverb refers to the fact that when there is a rumor or a suspicion, there is usually some truth behind it. I think something equivalent in English could be:
"there's no smoke without fire" although I'm not 100% sure.
Just a few moments ago I read an article in Forbes magazine that reminded me of the saying.
It seems that the good man CZ would have carried out practices similar to those carried out by SBF with FTX and Alameda in August of last year.
Some label Forbes magazine as promoting FUD against Changpeng Zhao but the investigations appear to be well-founded.
Also, it seems that one of the beneficiaries of CZ's "bad business" this past August could also have been Alameda Research and Justin Sun, the founder of TRON, also known for his unorthodox ploys in Crypto, including STEEM...
We could see it as "business as usual", normal operations and transactions between "cetaceans" of the crypto space, however, apparently, Binance maintained a supply of B-USDC stablecoin without having the equivalent USDC in its collateral accounts for at least 4 months.
In particular,
they withdrew $3.63 billion from its peg wallet to the “Binance 8” cold wallet. It then returned $1.85 billion to the peg wallet but transferred the remaining $1.78 billion to a Binance 14 cold wallet. Later, the exchange distributed the funds to a trading firm, Cumberland, Amber Group, Alameda Research, and TRON founder Justin Sun.
When Binance withdrew $1.78 billion USDC on Aug. 17, it did not decrease the supply of the B-USDC. The collateral fell to zero, and the exchange did not correct it for four months.
I don't know guys, it is possible that all this is just anti-Binance propaganda but it smells like singe to me, I'm afraid that this BEAR market will last longer than usual...
Stay safe.
@toofasteddie
