Binance's statement on $ACT feels like treating everyone as idiots
A project with a market value of over 100 million, and 4 people collectively selling 1.05 million can trigger a cascade crash worth 200 million in liquidation? Binance, instead of admitting that the problems with your rules caused the incident, and that you don't want to compensate, just say so. But you can't evade all responsibility, making it seem like you have none, and that you are completely innocent. This is not a single project crashing; it's multiple projects crashing and liquidating at the same time, all triggered after you adjusted the leverage. Or you might as well change the script and say that a foolish big trader opened a long position of 80 million to 1 billion with 2 to 3 million, supporting the entire project’s market value, playing with everyone? But because of this 1.05 million selling pressure causing panic liquidations? Everyone realized, oh, I was playing in an air project all along. It turns out there aren’t many circulating coins in the market; it’s all leverage. The new script has been written for you. Keep treating everyone as idiots.
