I deeply regret reading this article about Ziqi. I'm trying to clarify why http://Binance.us It has nothing to do with Binance or even the reason why they both avoid suspicion. —————— Too long to read: 1. The two operate completely independently and http://Binance.us Operating under the supervision of CFTC and SEC After 24 years, complete isolation and strict avoidance of suspicion are required, and the matchmaking system will be independent 3. The US website does not have leveraged trading contracts for trading, so there is no problem of liquidation and liquidation of positions 4. We need to have a deeper understanding of the safety margin and improve our risk control awareness, which is also my long-term preaching —————— This is also a problem I have researched before, http://Binance.us At present, it has almost no other relationship with Binance main station (international station), the only difference is that the name suffix has multiple 'us' After 23 years of regulatory storms, http://Binance.us Completely disconnected from Binance, now operated by BAM Trading Services' US company. These are two legal entities. So naturally, http://Binance.us We have our own separate matching system and clearing system. So in the 10/11 market, http://Binance.us Binance and Binance are almost independent of each other. The reasons are as follows: one http://Binance.us There is no leverage trading or contract trading function. In other words, through liquidation, liquidation, and chain liquidation http://Binance.us The matchmaking system does not exist Under the supervision of the SEC and CFTC, http://Binance.us It is completely isolated from other markets and is only for registration and use by US residents. And we will try our best to avoid any contact with the Binance main site, including data and business aspects, which can be understood as avoiding suspicion. After the previous sanctions, Binance and http://Binance.us There can be no further business dealings 3. Active market makers will not go either http://Binance.us Market making I understand everyone's losses this time, but we must recognize the division of responsibilities. The rules of leveraged trading are clear, and it is not feasible to ignore risks in leveraged trading. Many arbitrage traders I know have suffered heavy losses, but the core issue is still a lack of risk control awareness. As I have always said, the risk of holding a full position lies in systemic risk. In extreme market conditions, you do not have any competitors, which may result in ADL reducing your position or forcibly taking over your account. The safety margin of holding a full position is extremely dangerous. This matter has been on Twitter since I started 22 years ago, but people still don't want to listen. Just saying that the full warehouse model is beneficial for improving fund utilization can respond to my risk warning. At present, it is the market's warning to those who ignore risks. Contract is an extremely professional derivative tool, and we need to know where the safety margin of contract trading is? This is due to our lack of risk awareness, and it is a valuable lesson in life.