Are the Cryptocurrency CEXs Lying to Us?

They say they aren’t but some of them like Binance refuse to have an audit. Others like Kraken claim to have legitimate 1:1 backings.

In my opinion, the best regulations in the world can’t save us if the Centralized Exchanges do not have true 1:1 backing.

If you “have” any BTC or BCH currently on an exchange, would it be worth it to find out if you truly own it? Wouldn’t you want to know if they are using it against you to wage psychological warfare to get you to sell at a loss (on top of charging you pesky little fees).

This is not financial, investment, or informational advice. Honesty is the best policy for cryptocurrencies. This is entertainment.

submitted by /u/abcxyzplease
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source https://www.reddit.com/r/btc/comments/13fwceh/are_the_cryptocurrency_cexs_lying_to_us/