On November 28, 2022, Binance Expressed: “As part of our Proof of Reserves (PoR) process, Binance is working with a 3rd party auditor to provide proof of ownership. You will likely see some large transfers between Binance’s owned wallets throughout the day as a result of this. Funds are SAFU.”

The cryptocurrency space looking at this statement from Binance are left wondering.  In reality, the assets should have been in their right place already before the audit meant to show Proof of Reserves.

Why large transfers now? Now at the time of audit?

The recent Binance tweet is intriguing because it sounded a bit like FTX.

Is there a reason to be suspicious? Investors want to feel informed. They need to know when things are not okay.

Some days back a similar tweet read like: “Rotating a few FTX wallets today (mostly non-circulating); we do this periodically. Might be a few more coming, won’t have any effect.”

Also, CZ Binance in the past: “If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay SAFU.”

So… All okay?

All eyes are on Binance.  Investors want to know about the liabilities of Binance. Until the liabilities are made clear – investors are apprehensive on whether to move forward.  The current market climate is such that everything is appearing shady.

Onlookers are wondering more and more about funds. Will Binance cut the crap and show proof of liabilities?

Looks like there are several shady transfers happening at Binance.

Is the Binance & CZ = Transparency Theory True? Is the moving of large funds before audit a sign of trouble?

To all of such apprehensions, CZ speaks out: “I know it’s hard. If you thought a fraudster is legit, you probably are already poor. But… If you believe FUD all the time, you will also likely to be poor. Life is not easy.”

General Things about Investing Culture

Crypto, stocks, bonds of anything about Return of investment – people are willing to try.  They also comprehend the risk thing.  Investors understand price going down because of war, macroeconomics and related stuff. When things change in the real time world, the prices are going to be business worthy.   What investors cannot tolerate are the scammers.

Irrespective of what the price is and the associated risk factors, people would invest in any type of asset class.  People are not scared of risky asset class.  When people have money to invest in a new security or asset class, they invest. If they do not have money to invest, they do not buy the security.  The overall market structure is as simple as that.  Anyone who has the power to invest is willing to dare the risk.