I really don't understand how it's even possible to think that what happened to FTX could happen to Binance: FTX was created as a scam since the beginning, there was a backdoor, everything was planned, Binance makes a ton of money every single day thanks to commissions, why should they think to scam their customers? Of course Binance could fail for several reasons but thinking that the richest guy in the crypto world would scam when he already has more money that he could ever spend... What's the point?

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1bf1dacb726b

"That’s helped make at least 17 people crypto billionaires, according to Forbes’ 2024 World’s Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. That’s more than double the $37 billion in collective crypto billionaire wealth last year.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto’s wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he’s known, is now worth an estimated $33 billion, up from $10.5 billion last year. That makes him the biggest crypto gainer in dollar terms since last year and the 50th-wealthiest person in the world. The bulk of his fortune comes from his majority stake in Binance, which remains the industry’s largest global trading venue by volume.

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
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4 billion in fines isn't a lot of money to him.

I really don't understand how it's even possible to think that what happened to FTX could happen to Binance: FTX was created as a scam since the beginning, there was a backdoor, everything was planned

Binance makes a ton of money every single day thanks to commissions, why should they think to scam their customers? Of course Binance could fail for several reasons but thinking that the richest guy in the crypto world would scam when he already has more money that he could ever spend... What's the point?

CZ's assets are something that even the US government cannot understand, it is strange that some small investors like us can know that what he holds is only BNB and some altcoins. CZ is the creator of Binance, who once sold his house to buy bitcoin...would he be stupid enough to put all his assets into this market, let alone BNB or altcoins?

If I remember correctly, since CZ was charged by the US government, and he had to leave Binance.

Do you think CZ still holds the majority of shares in Binance and will the government leave it alone if CZ remains the largest in Binance?

"Defendant Binance has accepted the resignation of Zhao, its CEO, and prohibited him from any present or future involvement in operating or managing Defendant’s business. This prohibition begins as of plea acceptance and ends three years from the date a monitor is appointed," the filing read.

~Snipped

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
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4 billion in fines isn't a lot of money to him.

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

This is just a list of names whose income can be tracked easily. There are many others whose income is difficult to track in different parts of the world which would make this particular elite list even more extravagant.

If BTC and the crypto market keep rising in value over time, this list will keep getting longer while the reverse would happen if BTC and the crypto market keep falling in value.