It seems the number of Algos in Binance wallets is easily above 300M, maybe over 500M or even more. These are of course not all owned by Binance itself however these algos are under the Binance control. Given how much power exchanges and in particular Binance have in moving the market, liquidations …

This is a trend I have been seeing in crypto recently, with all the other exchanges somewhat struggling, while Binance seems to be in contrast (at least not publicly) in not too much trouble. But at the current point I do not see it as too concerning, or I even wonder what the Foundation could do ab…

As discussed under the reddit post, one thing that the foundation and inc. could do is using a more transparent selling approach so large entities do not have a major advantage on regular investors. Here are some key points: The only major sellers at these prices are foundation/inc., not people wh…

Given the recent Binance/FTX developments and the potential of an exchange monopoly, this is even more concerning! Something to think about.

What do you think would happen if Algorand, Inc. were bought by FTX or Binance? Or, by a bank for that matter? Given, Binance owns so much Algo, why wouldn’t they just buyout Algorand, Inc. and take total control of the network? With the current shift in the market, it would seem like a bank, such …

The specific concern in this post is that Binance can block or slow down the Algorand growth if it has a significant number of Algos, by controlling the market and price action, or through the governance. As the single major exchange even without a large number of Algos it can isolate a coin or limi…

Great points. I appreciate your insights here and your concerns are valid. Binance’s acquisition of FTX is shocking . Perhaps more interestingly is the cause seems to be a liquidity shortage. One thing to keep in mind about low liquidity is that it yields high volatility - up and down. The general m…

you must have missed structured selling in the transparency reports

I’ve read and it was part of past transparency reports too. There are two key token sellers: the foundation and inc. and both mention following some rules in their transparency reports: Algorand Foundation Transparency Report (October 2021 - March 2022) https://www.algorand.com/resources/algorand…

I think the appropriate response is to disallow any exchange, Algorand Inc., or Algorand Foundation from voting in Governance.

Concerns over Binance Algo holdings getting too Big?!

General

joemoore_x December 26, 2022, 6:06am 12

No exchange or institution should be allowed to vote in governance. That is a major conflict of interest.

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Concerns over Binance Algo holdings getting too Big?!

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