Raptor

I genuinely don’t want to criticize a competitor during their crisis. What I really want is for us to work together with them to raise security standards and better protect the entire crypto industry. But I have to say, the interview with the “richest man in crypto,” who claims he no longer runs Binance (do you really believe that?), made me sick. The interview was full of bullshits. It was misleading, appeared to downplay their own responsibilities, and attempted to discredit traditional banks to make excuses for their own failures. Instead of demonstrating accountability and leadership during a crisis, the interview seemed more focused on deflecting responsibility and shifting blame. This is not the kind of leadership our industry needs. Since the incident, the “richest man in crypto” seems unable to stop making noise: 1. He has arguably been the most vocal individual associated with Binance on social media throughout this crisis. 2. He has found time to argue with Elon Musk @elonmusk over SpaceX stock investments. 3. He keeps emphasizing that “only 2%” of funds have left Binance, as if that somehow addresses the underlying security concerns. 4. Marketing campaigns to attract new deposits have continued amid the crisis. 5. He has tried to suggest that traditional banks have weaker security. How can someone claiming to be a professional crypto industry leader make such a misleading comparison? The threat models, attack surfaces, and consequences are fundamentally different. Comparing the two without that context is irresponsible. 6. And almost every time he speaks, he appeared to leave a pregnant woman on the front line and adds the same disclaimer: “I don’t run Binance.” Meanwhile, the entire crypto industry is suffering the consequences: 1. Bitcoin reportedly fell from around $81,000 to $75,000 during the turmoil. 2. Billions of dollars in leveraged positions were liquidated amid the market disruption. 3. The incident has potentially damaged the credibility of the entire crypto industry in the eyes of traditional capital markets, institutional investors, and global regulators. And after all this, their so-called “multi-layer security defense” is looking increasingly like a joke. A friend sent me photos of Halloween costumes that they came across. I’m sharing them here. The satire speaks for itself. Our industry needs fewer excuses, less PR spin, and more genuine collaboration to protect users and strengthen security standards. That is what I would rather spend my time building together—even with our competitors.