How do exchanges keep raking in money in bear markets?

furious-one (69)in #money • 6 years ago

According to various reports, all exchanges somewhat manipulate the listing of coins. Well, can you really call it manipulation? I guess not - but the process only keeps their own interests in mind.

In August, a co-founder of a blockchain startup Expanse, Christopher Franko came forward with the announcement, that Binance demanded 400BTC from him, to get their token listed on their exchange.

When it came to light, Binance quickly denied it - of course, a business cannot admit that they are a greedy bastard.

Changpeng Zhao, the CEO of Binance attacks back - "We don't list shitcoins".

So where's the truth? No-one knows. But one thing we do know - exchanges have favorites - they prefer those, who incorporate their tokens into their own system, ie who play ball.

I believe that until clear and transparent rules for being listed on exchanges aren't set and published, we will keep seeing low-value, low-utility coins and tokens listed on exchanges. The real value projects, however, are often confined to the dark corners of little-known de-centralized exchanges, out of sight, out of options.

I get it, life is not fair and connections, skills, money matters. But the point is - exchanges don't care what you want. They list what they want you to trade and where they can profit.

It's a jungle out there.

Materials:
cryptonewmedia.press
bitcoinist.com

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