Market Update

What an absolutely crazy week. Binance in trouble and now Coinbase. This doesn’t look good for Binance US. Now we need to see how CZ handles his criminal allegations. Did he really commingle funds? And to what extent?

To play it safe, I think it’s best to only have funds you’re willing to lose on Binance. That goes for any CEX. But all eyes are on Binance.

Outflows haven’t been horrible so that’s good. I have till tomorrow where my BNB is unstaked so I may dump most of it considering what Binance is facing. As far as BSC, Heidi will have a video out tonight on this.

With all of this said, I am still not concerned at all of the overall well-being of the market. But it’s good to be flexible and move funds so that you can be as anti fragile as possible.

Many people think that IF Binance did go down (I don’t think they will) But if they did, crypto would die. That’s simply not going to happen. I started this space years before Binance started. Plus MT GOX went down before Bitcoin was mature and it still didn’t bring down Bitcoin. Remember that GOX had over 90 percent of volume back then.

I’ll be a bit busy tomorrow so I’m the meantime relax and try to enjoy the fireworks.