Benson Sun
Benson Sun|Apr 03, 2025 16:40
In fact, I didn't lose any money on ACT. I just read the announcement and felt that there was room for improvement in Binance's practices before publishing the article. I didn't intend to target anyone. If it were other exchanges, I would still speak up. Today, I learned about the detailed process of the incident through some channels. The trigger for the whole incident was the three consecutive adjustments to the rules and the short response time given, which resulted in the cancellation of pending orders and forced liquidation of large positions at market prices. With such poor liquidity now, there are not many speculative funds willing to actively engage in trading and use real gold and silver to protect the market. This move is really damaging, and Binance probably didn't expect such a large chain reaction. In the short term, there shouldn't be much play for small and medium-sized market value knockoffs, so focus on making big cakes and guarding the market.
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