Brothers, something big has happened.
The exchange next door is really in trouble this time.
There is a big player who opened a long position of more than 50,000 bitcoins on it—what does that mean? Hundreds of billions in play. As a result, the exchange directly accused him of "manipulating the market" and without a word, froze his account.
That day, he was liquidated.
After being liquidated, it was still not enough; the remaining 517 bitcoins in the account were directly confiscated.
517 bitcoins $BTC , not 517 dollars.
Now he is already about to initiate an international lawsuit. Last time it was the explosive head that got in; this time it's your nurse sister's turn to sacrifice, right?
This operation, I’ve truly never seen before.
So when trading, you really have to choose a reliable platform like Binance. It’s not an advertisement; it’s because you might lose your money and not even be able to find anyone.
But does choosing the right platform mean you can rest easy? Naive.
Over here in Hong Kong, a large-scale cleansing has already begun.
Almost all USDT merchants have been expelled, and those without licenses are directly kicked out. Want a license? Sure, first prepare 25 million HKD in local reserve assets.
Moreover, even if you get a license, retail investors can't engage.
If you want to legally issue U in Hong Kong, you must be a "professional investor"—personal assets below 8 million HKD? Sorry, you are not qualified.
After the process is completed, U can only be exchanged for HKD and must go into a bank account with the same name in Hong Kong.
After all this operation, the big shots can still play, while retail investors are directly declared dead.
Did you think this was the end? The mainland will only be harsher.
OTC merchants are getting into trouble one after another, and Binance issuing U has started receiving anti-fraud calls. Withdrawing money is becoming increasingly likely to freeze accounts; you never know when the money in your account will truly become just a number.
Several US merchants around me have already gone in to tread on a sewing machine.
So really, don’t think that liquidation is the biggest risk.
Sometimes, when you make money, the door closes.
Choosing a platform depends on character; withdrawing money depends on fate.
Take care and cherish it.
