Critic Adam Cochran Sends a Warning to Binance Users
Adam Cochran warns about using Binance, pointing out risks like their choice of digital coins and dealings in uncertain markets. Safety first, he suggests.
Adam Cochran, a known critic of Binance, has issued another warning about using the exchange, sharing his last thoughts in a tweet. Cochran believes he's already convinced many about the risks but wanted to share more.
Firstly, he warned about Binance using a digital coin called TrueUSD (TUSD) for promotions and as a safe-keep. He doesn’t like TUSD because it's not widely used and is run by Justin Sun, whom he sees as a controversial person. This, for him, is a risky move.
Secondly, Cochran noted that Binance's US-related business is not keen on showing US courts proof that it really holds the assets it says it does. He wonders why Binance, being so big and successful, would act in this risky way.
Lastly, he talked about Binance doing business in risky small markets. He mentioned the moving of the Russian market to another project and working with people who have questionable reputations. Cochran also brought up Binance's reluctance to have its accounts checked by US courts.
In the end, Cochran reminds everyone to think about where their digital money is safe. He suggests that keeping money away from Binance is free but losing it due to risks could cost a lot.
