Let me share a little story on the largest ever single payment from @Binance, the $6m in 2017!
I hope this will help you better understand the #Binance culture.
Binance launched on July 14, 2017, having successfully raised $15m in its ICO two weeks prior.
Less than 6 week later, on Sept 4th, 2017, China issued a ban on crypto exchanges, crypto mining, as well as recommending any ICO projects to return users investments in full should the users want it.
With the announcement, many tokens dropped below their ICO price. BNB dropped from 22x to 6x of its ICO price. Luckily, it was still 6x. So no one wanted to return $6 for $1.
However, four other projects on Binance fell below their ICO prices. The teams behind those projects lacked the funds to fully reimburse their users.
Our team ran some calculations. The gap was about $6 million USD.
The team called me and asked if we should use our own funds to make our users whole, even though those were neither our projects, nor our obligation.
$6m million might not sound like a lot today, but to put it in perspective, we had raised $15 million just eight weeks prior. We were not profitable. We were buying servers and hiring people. We were burning cash.
Giving $6 million to users would deplete our corporate treasury by more than 40%.
I joined the call on a moving train in Tokyo. I asked if anyone had any objections.
No one objected. I said, “let’s do it”.
Percentage wise, that was the single largest transaction in our corporate history.
That announcement immediately received overwhelming responses from the crypto community, not only in China, but around the world.
No other company had protected its users to such an extent, even to this day.
The market rewarded us. Users from around the world joined us. They saw that Binance protected users with not just words, but with action and funds.
When we made the decision to make users whole, we had about 35,000 users. A month later, we had 120,000 users. We became profitable, and have been ever since.
Two months after that, we became the world’s largest crypto exchange, and have been ever since.
Hence our core value: Protect Users!
A new intelligence awakens… and it’s closer than you think..
The future of Prediction Markets is almost here.
Prepare yourself, follow us on X @aixbet_ai to catch the alpha first.
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The truth is, you live better now than 99% of humans who ever existed.
Better than the kings in the 1400s.
Better than billionaires in the 1800s.
- Hot showers
- Unlimited food
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Be grateful & f*ck the doomers.
@goon_crypto@bigwil I regret having such a small allocation cuz I was spraying and praying on agents at that time. Would have been awesome but the growth is amazing. Bulk of my FACY is staked and I'd like to unstake it but with the changes, I'm extremely hesitant to do so. Sigh.
@goon_crypto@bigwil Fairness is big for me as I'm newer to Virtuals (just a few months) and was just understanding the playbook when it all died and is now changing. FACY being the only real win. Keep it all staked for now guys?
@goon_crypto My observation is that the most recent low is roughly equal to the previous. That has not happened before since the channel started. Price always broke down but this time it consolidated well.
Everyone has weaknesses and they are generally revealed in the patterns of mistakes they make. The fastest path to success starts with knowing what your weaknesses are and staring hard at them. Start by writing down your mistakes and connecting the dots between them. Then write down your "one big challenge," the weakness that stands the most in the way of your getting what you want. Everyone has at least one big challenge. You may in fact have several, but don't go beyond your "big three." The first step to tackling these impediments is getting them out into the open. #principleoftheday
jane goodall
taught us to listen
beyond human language
today earth remembers
her gentle wisdom
may we honor her legacy
by protecting what she loved.
rest in peace
friend of forests
1934-2025
@therabbitking@FyniAI Based on the changes, what's the real strategy for these top launches? What's the best way to play this? HODL strategy and profit taking as well?
@therabbitking@bigwil@pokpok_io @SageToLearn I've been trying to avoid jeet jail so am I 'playing it wrong' by holding or what? Haven't sold, just getting allocations, topping off with a little more and then stake in total a little more than i got dropped within the first 24h. Why am I holding and praying?