Ill try and keep this short. As you folks already know there is this extremely developed dependence of Crypto on crypto exchanges. This dependence is so perverse that getting listed/unlisted can make or break a crypto project.
And of course, since crypto exchanges arent regulated they completely abuse that fact doing what is basically stealing. Falsely presenting financial information based on which they charge crypto projects disgustingly large fees.
Im not well versed in financial law, but even what they are doing isnt criminal activity, its fraudulent and unethical.
Very simply put:
Out of the top 25 BTC pairs on Coinmarketcap only 2 arent massively inflating volume according to blockchaintransparency.org
Apparently only Binance, Bitfinex and Liquid are legit. How does this fit in with market analysis when there are exchanges that have actual volume at only 1% of reported volume?
1%
Bold italic with the biggest heading.
There is simply no denying that centralized exchanges are parasites that pray on new projects and take advantage of them.
Data suggests that an average project spent over $50,000 in listing fees to exchanges on the advisory list (of blockchaintransparency.org) this year. This totals over $100 million stolen in 2018 via listing fees, with some exchanges making over $1 million from this alone.
If im honest i wouldnt even trust that Binance and Bitfinex arent doing shady things when you look at everyone else. Still, the list (if you decide to trust it. Cant trust nothing nowadays) absolves them.
It simply amazes me that after 10 years of bitcoin we are so dependent on centralized fraudulent institutions. And in crypto of all things. Isnt that something we wanted to escape? Something we are fed up with?
Anyways, as always, scammers can go to hell.
Ill see you around.
