Phyrex|Nov 15, 2026 13:48
I feel there's too much negativity around. I bought bitcoin:native with my own money; whether I make a profit or loss is my own business. Yet, many people are still being sarcastic and critical. I didn't tell you to buy it! Being a sucker is my business; how can you all be so clever without someone as stupid as me?
What's even more ridiculous today is that many people are asking me if Binance is dumping the market to liquidate investor orders and replenish stolen funds. I'm truly speechless. A little thought tells me that a consistently good industry is beneficial for exchanges; who would trade crypto when the industry is in chaos?
Just look at Coinbase's financial reports. Exchanges typically make the most money during bull markets; the bear market, the less money they make.
Most importantly, I released a lot of data this morning before I even slept. This proves that the dumping wasn't by long-term holders, but by short-term holders selling at a loss. In other words, Binance bought BTC itself and deliberately dumped it at a loss. Keep in mind that the total liquidations in the market today were less than $100 million. Furthermore, looking at trading volume, the volume ratio between Binance and Coinbase remains the same as before; neither Binance nor Coinbase experienced a sudden surge in trading volume.
Most importantly, this method of dumping is extremely inefficient; the effort and reward are disproportionate.
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