Research has shown that Binance has been creating IOU tokens for BUSD and only backing them weeks later after making profits from using these unbacked funds, likely to trade against their own clients. This strategy works until the trades backfire and the exchange becomes insolvent.

Research has shown that Binance has been creating IOU tokens for BUSD and only backing them weeks later after making profits from using these unbacked funds, likely to trade against their own clients. This strategy works until the trades backfire and the exchange becomes insolvent.

on January 06, 2023

Research has shown that Binance has been creating IOU tokens for BUSD and only backing them weeks later after making profits from using these unbacked funds, likely to trade against their own clients. This strategy works until the trades backfire and the exchange becomes insolvent.

submitted by /u/FearlessEggplant3036
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source https://www.reddit.com/r/btc/comments/1047x7n/research_has_shown_that_binance_has_been_creating/

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