Coin

<ul class="news-points"> 
 <li><strong>Adam Cochran calls Binance a “Ponzi” scheme with an evident asset shortage.</strong></li> 
 <li><strong>He says users’ Binance assets are used without control and Binance Pegged Assets lack complete backing.</strong></li> 
 <li><strong>Cochran urges users to withdraw assets from Binance due to discrepancies and lack of transparency.</strong></li> 
</ul> 
<p>Venture capital firm Cinneamhain Ventures founder Adam Cochran called out Binance for being a “Ponzi” scheme with an evident “hole across multiple assets.” Comparing the leading exchange with FTX, Cochran said while all funds haven’t yet disappeared, users don’t deserve to pay for <a href="https://coinedition.com/tag/Changpeng-Zhao/">CEO Changpeng Zhao</a>’s mistakes.</p> 
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   <p lang="en" dir="ltr">They are just going to continue this ponzi as long as they can because simps will choose not to believe it.<br><br>But at this point its clear there is a hole across multiple assets.<br><br>It's not like FTX, it's not all gone, but you don't deserve to take a hair cut for CZ's mess.</p>— Adam Cochran (adamscochran.eth) (@adamscochran) <a href="https://twitter.com/adamscochran/status/1678526678266527747?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 10, 2023</a>
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<p>The above was part of a Twitter thread where Cochran highlighted Binance’s BCH shortage to cover withdrawals. However, the founder points out that the BCH on BSC, which instructs users to withdraw, is expected to have a 1:1 correspon…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/vc-firm-founder-calls-binance-ponzi-compares-with-bankrupt-ftx/">VC Firm Founder Calls Binance “Ponzi,” Compares With Bankrupt FTX</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

VC Firm Founder Calls Binance “Ponzi,” Compares With Bankrupt FTX

Coin Edition

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