News/CZ: Binance Has Never Used $BNB for Collateral

CZ: Binance Has Never Used $BNB for Collateral

Nov 09,2022,09:47

Binance CEO CZ tweeted that there are two lessons to be learned from this FTX incident.

  1. Never use a token you created as collateral.
  2. Don't borrow if you run a crypto business. Don't use capital "efficiently". Have a large reserve.

Binance has never used $BNB for collateral and has never taken on debt.

Source
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