Honestly. I think this also applies to banks too. Imagine what will happen if every customer requested for 100% withdrawal of their funds. A lot of bank CEOs will be exposed - a lot of money wont even be accounted for. Maybe that was why Wyre choose to lock 10%, so that there will never be a situation where everyone is withdrawing all, because they wont be able to fulfill the withdrawals.
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Exactly, this is why wyre chose to do what it did. 10% locked, so that everyone would not choose to take their money at the same time. I think every financial institution does this. FTX just turned his own to a bigger scam, instead of being satisfied with what he's already earning.
Poor poor FTX! We are learning from other people's mistakes. What an eye opener!!!! Not too long ago, i kept close a hefty amount in Binance for 4 months. Its a big 6 digits. How naive and how so fortunate I am now. A single click from the admin would have sent me back to the dust!
I would never try such a thing. Even me who had and kept 70$ on binance, I still felt unsafe, not to talk of a bigger sum. I'm glad if wasn't even FTX. If it's not hive, nowhere else.
Did I even understand the implication of what I did? Now I know much better!
Would have just signed and stamped my empty will, hahaha.
Let's talk about Binance:
Read about it here
Ionomy, HitBTC, and Bittrex have always credited my account when there was a mistake in the memo after communicating with support.
Let's talk about Binance:
Read about it here
Ionomy, HitBTC, and Bittrex have always credited my account when there was a mistake in the memo after communicating with support.