I can't say that I'm surprised. We have always known deep down Binance would rekt the #crypto community at some point, and as it would happen, this is just but the beginning of what to come in this space. When people used to say your funds aren't safe on exchanges, I never quite really understood why or in what instance besides a hack would make that statement true. This whole steem saga has cleared that part for me now. Exchanges can use user funds without consent, they can steal from you if the amount is too huge to ignore and as it is, because, human greed is real & there's almost absolutely nothing you can do about it.

This morning, woke up to binance announcement of their support for the incoming HF. Their main exuse is they have other customer funds besides the 65 affected accounts to think of/protect... As true as that maybe, you'd think after enabling this whole #steemhostiletakeover, they'd look at this objectively and do the right thing this time round, clearly NOT.

THE ANNOUNCEMENT

At this point it's clear to see where this industry is going if things don't change. One entity shouldn't hold so much power that affects millions of dollars and users by a single executive decision. I don't know how this is going to play out for our affected community members. But I feel the best play right now would be to take this to court cause clearly exchanges lack business ethics and moral standards.

We need a truly decentralized exchange!

Penny for Your Thoughts?

SEE YOU ON THE NEXT POST!!

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