furan
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Why doesn't China allow the existence of virtual currency trading platforms?
One perspective:
No impressive crimes allowed. Just look at Binance's API documentation and GitHub; anyone with a bit of programming knowledge can quickly start trading.
Real-time market data is free, without any nonsense L1/L2 fees, directly providing 5000 order book queries and incremental pushes, and even historical market data can be downloaded for free;
You can open an account directly on the exchange, without a broker in the middle profiting from the spread and reselling information; it also supports x125 leverage, 30 sub-accounts, spot/futures/options/wealth management/loans, etc., all handled by one exchange.
In simple terms, compared to our formal securities/futures exchanges, the gap between Binance and them is even greater than the gap between Alipay and traditional online banking back in the day, and in terms of reputation, it may not even be worse than certain shady organizations.
That said, Binance's talent and financial strength probably can't compare to Shanghai and Shenzhen, and aspects like matching speed, stability, and uptime might be inferior, but they are already leading an era in terms of service content and philosophy, which domestic formal exchanges and securities companies should reflect on and learn from.
After spending so much money and nurturing so many people, what are they all doing?
One perspective:
No impressive crimes allowed. Just look at Binance's API documentation and GitHub; anyone with a bit of programming knowledge can quickly start trading.
Real-time market data is free, without any nonsense L1/L2 fees, directly providing 5000 order book queries and incremental pushes, and even historical market data can be downloaded for free;
You can open an account directly on the exchange, without a broker in the middle profiting from the spread and reselling information; it also supports x125 leverage, 30 sub-accounts, spot/futures/options/wealth management/loans, etc., all handled by one exchange.
In simple terms, compared to our formal securities/futures exchanges, the gap between Binance and them is even greater than the gap between Alipay and traditional online banking back in the day, and in terms of reputation, it may not even be worse than certain shady organizations.
That said, Binance's talent and financial strength probably can't compare to Shanghai and Shenzhen, and aspects like matching speed, stability, and uptime might be inferior, but they are already leading an era in terms of service content and philosophy, which domestic formal exchanges and securities companies should reflect on and learn from.
After spending so much money and nurturing so many people, what are they all doing?
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