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Bitcoin $96,378.21 -2.13%
Ethereum $3,352.96 -3.29%
BNB $662.48 -2.51%
Optimism $1.77 -7.70%
Arbitrum $0.75 -7.05%
Solana $184.37 -5.79%
Polygon $0.48 -5.31%
Cosmos $6.59 -6.98%
Avalanche $37.88 -7.47%

5 Types of Businesses/Exchanges/Projects to Avoid, Says Binance CEO

Binance CEO Changpeng Zhao suggests there are five types of businesses/exchanges/projects to avoid:

- are not profitable (musical chairs)

- survive by selling their own tokens

- are not profitable (musical chairs)

- survive by selling their own tokens

- give high incentives for locking your tokens

- have a large total supply, but only a small circulation supply

- involves loans

Due to the prominence of FTX and its high level of integration within the crypto industry, Zhao expects significant fallout. The Binance founder said he anticipates that more companies will fold as the exchange’s collapse cascades across the industry.

FTX

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5 Types of Businesses/Exchanges/Projects to Avoid, Says Binance CEO

All Comments

Recommended for you

German parliament passes Financial Market Digitalization Act

Odos DAO: Phishing email attacks related to the "ODOS Loyalty Program" have appeared, reminding users to be vigilant

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Phishing ad links impersonating Virtuals Protocol appear in Google search results

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Binance Futures will launch U-based and Coin-based quarterly 0627 delivery contracts

Scam Sniffer: zkPass's X account was hacked and a fake airdrop message was published

Slurpycoin on BSC was attacked by flash loans, and the attacker used the repurchase mechanism to manipulate the token price for profit

Europol seizes over $26 million in crypto from nine drug traffickers

Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT

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