The SEC will likely sue Crypto .com
they sued Coinbase and Binance for selling securities
specifically naming Solana, Cardano, Sandbox, Matic, CHZ, BNB, Mana, Algo and more
crypto .com also sells ALL of these cryptos
plus they launched their own CRO coin
plus they offer staking services
I'm not trying to FUD, just a fair warning
1/23
Oh boy https://t.co/2JnbfirRrp
Case is up and it's bad.
This is the CFTC attempting to strike *fatal* blow to Binance, and at first read through... I think they actually have really strong chances here of succeeding in toppling the Binance empire.
The FLYWHEEL SCHEME has been the dominant business model in “crypto” “cefi” from the past three years. It was as dirty as ICOs, maybe worse in wealth destruction and delay of Bitcoin adoption.
Major perpetrators:
FTX/Alameda
Celsius
Crypto dotcom
Nexo
Babel
Voyager
and more
Nexo, which was raided earlier this morning, is currently getting hit by withdrawals
Its tagged on-chain wallets on EVM chains are down to <$70M in stables and $15M in ETH/sETH. The one tagged bitcoin address I can find has $5M
Its website lists 2.4B in customer liabilities
@coryswan@CelsiusNetwork Alex cashed out a net amount of $117m since $CEL ICO from his #Celsius account after he made a fake investment of $18m in his own ICO that he never paid & plenty of $CEL price pumps using client #Bitcoin.
Remove your coins from Binance.
This is not a drill.
I think there's a large and growing danger that there is massive misrepresentation of assets in the Binance ecosystem, and because so many big money players already believe this, one little spark can start a conflagration.