Since Binance’s balance sheet hasn’t been disclosed, and there is no standard for disclosure, it is incredibly risky for anybody to hold accounts with that crypto exchange. And even if Binance disclosed a balance sheet, I highly suspect the majority of assets that Binance holds is crypto, and crypto is vulnerable to devaluation right now…like FTT tokens…therefore the balance sheet would not be stable.

For example… CZ Interview Clip

"I remember it was $2.1 billion at the time and it was all in FTT tokens which are now worthless."

If FTX was so well capitalized, why did it send $2.1 billion "worth" of native tokens that it created, why not pay in dollars, or bonds? It's kind of like me paying for a beer with "money" that I created out of a table napkin that my beer was sitting on. And why did CZ/Binance accept those tokens?

Is CZ incompetent? Or was that $2.1 billion deal an act of financial churning (moving money because it looks good on paper rather than bringing any value)? So he could say that they did $2.1 billion deal, which implies that there is plenty of liquidity…LOL.

And has Binance accepted other "worthless" token for other "deals?"

What else is Binance up to that they're not disclosing?

When Lehman Brothers failed in 2008, the US Investment Bank, it took months to figure out how much exposure they had to worthless assets and too much debt.

The interviews and statements of Changpeng Zhao do not give me confidence. If anybody has any assets on Binance Exchange, I would transfer them into your own wallet, soon!

This reminds me of the 2008 financial crisis when investment banks would trade and hold on their books worthless mortgage-backed securities deriving their value from continually high housing prices that were based on credit/debt that no one ever planned on paying back, because there was no income.

In a credit contraction, it is very risky to hold any money that is not insured by a government on a centralized custodial. Binance is not an exception.