It is very difficult to predict the damage caused to the consumers of the exchange due to the malfunction of the system of “Business”, known as the world’s largest crypto exchange. The billion dollar liquidation of the leveraged traders and the main reason for this is the malfunction of the system of trading. As soon as the price of cryptocurrencies fell with the price of bitcoin, the exchange started causing problems. Order book here Looking at, the price of buying and selling bitcoins was showing $ 34852 but the mark price was showing $ 29868 i.e. the difference of $ 5000. This was the reason that even after the entry price was at $ 36112 and the mark price was at $ 35698, the trade was at $ 9881. While the loss was showing, it should have shown a loss of around $ 450 because the trade was just 3 bitcoins.
During this downturn, Baines defrauded traders on a large scale. One trader Ravi took a screen short of his trade on Twitter and wrote “how the world’s largest crypto exchange worked yesterday when bitcoin was going down, At that time I looked at my wallet and it was showing a loss of $ 200k. Wallet balance 500k, PNL 700k, it is really a joke. $ 150k loss because CZ binance could not handle traffic on the exchange.
There will be thousands of traders like Ravi who have lost millions of millions of dollars due to the negligence of the businessmen. Whenever someone says or writes anything about the Binance, then CZ_binance writes that all this is FUD fear, uncertainty and doubt. How will it enable newcomers to enter the world of crypto? How will traders trust and trust that their fund and trade on the crypto exchange is safe? Many tweets every day about the CZ BNB, but not a single tweet came out of the people wasting so much money and neither has any plans to compensate for the loss.
When this exchange holds a trading competition and tells that there is a billion dollar trade, then this exchange never goes bad nor does it have any problem. Whenever there is a big ups and down in the market and the traders make money. There is a time, at the same time there is a problem in these exchanges. No one talks about these exchanges on social media because their money is not wasted or they do not want to annoy the CZ and they are afraid that the CZ will give them Do not unfollow social media. The crypto community says a lot to the Indian Exchange and their founders and they are called on YouTube and asked questions about the work of the exchange, but has anyone ever called CZ about binance Dare to ask a question? Why is it that this emphasis only runs on the exchange of our own country? It is not that they know that they can never call CZ_binance and they cannot ask questions to CZ?
If this scam is not stopped today, then it will continue to happen. When the people’s money submerges, it will also throw the common media and in such a way, the way to make laws on crypto will become more difficult. How many years does it take to correct the exchange? The exchange does not know that there can be major fluctuations in the crypto at any time? Can it not be ready for better service? Is it right to make money by hurting others? Is this the identity of the world’s best exchange?
These questions will have to be answered by CZ_binance and it is not a FUD that will mislead people with their tweets.