<![CDATA[Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds).]]>Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). Some was frozen, but Binance is not likely to recover even half.

Bad headlines like this are a big part of why I started covering crypto. Generalist reporters on deadline far too often end up repeating company spin.

]]>https://forum.fedi.dk/topic/4084acd1-cfdc-4f9b-8137-9aad0107ea5f/binance-hasn-t-recovered-6b-it-s-covering-it-reimbursing-customers-from-company-funds-.RSS for NodeTue, 03 Nov 2026 22:31:54 GMTSun, 01 Nov 2026 15:52:28 GMT60<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 14:06:30 GMT]]>@TheOneDoc @molly0xfff @ssiekmann
Stenographers to power

]]>https://forum.fedi.dk/post/https://mastodon.social/users/freediverx/statuses/117547230213298857https://forum.fedi.dk/post/https://mastodon.social/users/freediverx/statuses/117547230213298857Mon, 02 Nov 2026 14:06:30 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 14:05:43 GMT]]>@molly0xfff @ssiekmann
Mainstream journalists believe whatever their billionaire bosses want them to believe. The corporate media isn’t journalism. It’s the propaganda arm of the ruling class.

]]>https://forum.fedi.dk/post/https://mastodon.social/users/freediverx/statuses/117547227140977315https://forum.fedi.dk/post/https://mastodon.social/users/freediverx/statuses/117547227140977315Mon, 02 Nov 2026 14:05:43 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 14:02:26 GMT]]>@davey_cakes @molly0xfff @ssiekmann thanks 😀
I was thinking about that quote but couldn't fully remember it 😞

]]>https://forum.fedi.dk/post/https://tech.lgbt/users/TheOneDoc/statuses/117547214208073415https://forum.fedi.dk/post/https://tech.lgbt/users/TheOneDoc/statuses/117547214208073415Mon, 02 Nov 2026 14:02:26 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 14:00:50 GMT]]>@TheOneDoc @molly0xfff @ssiekmann

Yeah that Orwell quote won't be getting dusty any time soon

"Journalism is printing what someone else does not want printed: everything else is public relations."

]]>https://forum.fedi.dk/post/https://mastodon.ie/users/davey_cakes/statuses/117547207941353082https://forum.fedi.dk/post/https://mastodon.ie/users/davey_cakes/statuses/117547207941353082Mon, 02 Nov 2026 14:00:50 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 04:45:59 GMT]]>@molly0xfff ...and seems resumption of redemptions is in full swing mode.....was it $3.5 billion-ish I just read has been redeemed today??

]]>https://forum.fedi.dk/post/https://mas.to/users/havvyhh2/statuses/117545026178986279https://forum.fedi.dk/post/https://mas.to/users/havvyhh2/statuses/117545026178986279Mon, 02 Nov 2026 04:45:59 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 04:06:56 GMT]]>@molly0xfff Those who don't know history are destined to repeat it. Got Goxxed. Not your keys. Not your coins.

]]>https://forum.fedi.dk/post/https://mastodon.social/users/bebadefabo/statuses/117544872625141020https://forum.fedi.dk/post/https://mastodon.social/users/bebadefabo/statuses/117544872625141020Mon, 02 Nov 2026 04:06:56 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 03:56:34 GMT]]>And actually you are right @guardeddon, everyone would assume that with such an idea and technology even on an exchange, the owner should always somehow have the ultimate key in his very own pocket, his very own "Endgerät".

Ultimately it's like most of the internet things.

Nearly the entire webpage traffic was http, until someday enough capable people said, thx to Ed Snowden, https is the only reasonable thing to do.

Why isn't all email encrypted end to end?
figured out nearly straight away how to do that in a user friendly manner. None of the big companies adapted that FOSS code. No journalist wrote about it.
Well, how to sell you ads if we can't read your emails?
🤮

@m1ke @molly0xfff

]]>https://forum.fedi.dk/post/https://social.tchncs.de/users/jesuisatire/statuses/117544831818488318https://forum.fedi.dk/post/https://social.tchncs.de/users/jesuisatire/statuses/117544831818488318Mon, 02 Nov 2026 03:56:34 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 03:48:29 GMT]]>@guardeddon

As @m1ke stated.

To begin with, more than one blockchain is ridiculous, as it drives the idea of not being able to copyPaste and multiply with IT ad nauseum what ever "document" it is you duplicate.

A:
"Nobody can print more bitcoins than there are!"
B:
"Great let's print more blockchains!"

A:
"You can hold your own assets on your own computer, and to skip the need for to hold the entire blockchain here you have an electrum wallet in a decentralized FOSS setup!"

B: "Ohh great, lets create websites where others are in charge of your assets instead your own computer! And while we are at it, let's create shitload of different wallets because why not."
🤷

@molly0xfff

]]>https://forum.fedi.dk/post/https://social.tchncs.de/users/jesuisatire/statuses/117544800049567161https://forum.fedi.dk/post/https://social.tchncs.de/users/jesuisatire/statuses/117544800049567161Mon, 02 Nov 2026 03:48:29 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 03:32:50 GMT]]>@dalias
> and don't have possession of their own coins

That's all there is to say.
And of course it's not the first time.
A never ending story.

.. ohh wait, let me store my gold at fort nox, the donald will guard it well ..
🤷

@HenryT @fuzzyfuzzyfungus @molly0xfff @ssiekmann

]]>https://forum.fedi.dk/post/https://troet.cafe/users/bitpickup/statuses/117544738521912833https://forum.fedi.dk/post/https://troet.cafe/users/bitpickup/statuses/117544738521912833Mon, 02 Nov 2026 03:32:50 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 02:10:17 GMT]]>@molly0xfff I'm having a hard time understanding how they are able to afford such huge loses with no FDIC insurance equivalent.

]]>https://forum.fedi.dk/post/https://cybernetic.monster/users/Spirit/statuses/117544413896203220https://forum.fedi.dk/post/https://cybernetic.monster/users/Spirit/statuses/117544413896203220Mon, 02 Nov 2026 02:10:17 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Mon, 02 Nov 2026 01:57:27 GMT]]>@molly0xfff are they gonna ponzi their way through the other half until they can pull in enough revenue to be sound again or

]]>https://forum.fedi.dk/post/https://defcon.social/ap/users/117494538733220904/statuses/117544363443746668https://forum.fedi.dk/post/https://defcon.social/ap/users/117494538733220904/statuses/117544363443746668Mon, 02 Nov 2026 01:57:27 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:44:58 GMT]]>@tknarr Sure is! And they paid $4.3 billion just a few years ago as a criminal penalty.

]]>https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543370640809917https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543370640809917Sun, 01 Nov 2026 21:44:58 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:43:28 GMT]]>@molly0xfff
The single largest theft in the history of the world.....

Move along, nothing to see here.

]]>https://forum.fedi.dk/post/https://mastodon.world/users/davidgrieve/statuses/117543364767049190https://forum.fedi.dk/post/https://mastodon.world/users/davidgrieve/statuses/117543364767049190Sun, 01 Nov 2026 21:43:28 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:36:24 GMT]]>@molly0xfff So a company built on the scaling of other people’s pyramid schemes has a few billion on hand in “funds”? Again, I don’t know much about this space - but this sounds even more fishy than their regular business.

]]>https://forum.fedi.dk/post/https://chaos.social/users/anotherdaniel/statuses/117543336981491694https://forum.fedi.dk/post/https://chaos.social/users/anotherdaniel/statuses/117543336981491694Sun, 01 Nov 2026 21:36:24 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:28:08 GMT]]>@molly0xfff I'd like to know how they can just pull $6+ billion out of their hat like it was nothing. Their reserve was only $1 billion, and what's left is a goodly chunk of change for any company to come up with in cash on short notice.

]]>https://forum.fedi.dk/post/https://mstdn.social/users/tknarr/statuses/117543304479955644https://forum.fedi.dk/post/https://mstdn.social/users/tknarr/statuses/117543304479955644Sun, 01 Nov 2026 21:28:08 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:15:54 GMT]]>@anotherdaniel They say it’s coming from company funds

]]>https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543256348104830https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543256348104830Sun, 01 Nov 2026 21:15:54 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 21:15:28 GMT]]>@merospit I explained it a bit in a footnote to https://www.citationneeded.news/its-always-north-korea/

]]>https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543254653403247https://forum.fedi.dk/post/https://hachyderm.io/users/molly0xfff/statuses/117543254653403247Sun, 01 Nov 2026 21:15:28 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 20:57:20 GMT]]>@molly0xfff That would have been clearer in most other languages.

]]>https://forum.fedi.dk/post/https://mastodon.social/users/evert/statuses/117543183331525486https://forum.fedi.dk/post/https://mastodon.social/users/evert/statuses/117543183331525486Sun, 01 Nov 2026 20:57:20 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 20:42:06 GMT]]>@molly0xfff If frozen has a meaning for cryptocurrency, then it really isn't "decentralised". Does each cryptocurrency come with a sanctions list these days to stop miners processing specific blocks?

]]>https://forum.fedi.dk/post/https://infosec.exchange/users/merospit/statuses/117543123456593030https://forum.fedi.dk/post/https://infosec.exchange/users/merospit/statuses/117543123456593030Sun, 01 Nov 2026 20:42:06 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 20:34:46 GMT]]>@guardeddon @molly0xfff you're not mistaken, if people keep crypto in their own wallets that's exactly the case. But most people here aren't using crypto as it was originally envisioned - the entire industry has become "financial markets without those pesky rules" so everyone is just yoloing their money to wallets where the company records the entries on a traditional database in order to get interest etc

]]>https://forum.fedi.dk/post/https://phpc.social/users/m1ke/statuses/117543094628110406https://forum.fedi.dk/post/https://phpc.social/users/m1ke/statuses/117543094628110406Sun, 01 Nov 2026 20:34:46 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 20:25:32 GMT]]>@molly0xfff Serious question (I really have no idea about how these companies are set up): where do they get that above of money from? ‘Assets’ of their non-victim customers?

]]>https://forum.fedi.dk/post/https://chaos.social/users/anotherdaniel/statuses/117543058301793136https://forum.fedi.dk/post/https://chaos.social/users/anotherdaniel/statuses/117543058301793136Sun, 01 Nov 2026 20:25:32 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 20:14:35 GMT]]>@molly0xfff

]]>https://forum.fedi.dk/post/https://mastodon.world/ap/users/117322376352431280/statuses/117543015272873910https://forum.fedi.dk/post/https://mastodon.world/ap/users/117322376352431280/statuses/117543015272873910Sun, 01 Nov 2026 20:14:35 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 19:21:59 GMT]]>@ssiekmann It is really a Tech 202 problem….

]]>https://forum.fedi.dk/post/https://mastodon.scot/users/Wen/statuses/117542808433350700https://forum.fedi.dk/post/https://mastodon.scot/users/Wen/statuses/117542808433350700Sun, 01 Nov 2026 19:21:59 GMT<![CDATA[Reply to Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). on Sun, 01 Nov 2026 19:10:04 GMT]]>@samiamsam @molly0xfff

crypto was the biggest ponzi scheme ever 😀

]]>https://forum.fedi.dk/post/https://mastodon.world/users/maddad/statuses/117542761593301862https://forum.fedi.dk/post/https://mastodon.world/users/maddad/statuses/117542761593301862Sun, 01 Nov 2026 19:10:04 GMT