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The original was posted on /r/cryptocurrency by /u/bsegelke on 2023-07-18 01:44:27+00:00.
I’m sure most people are already aware, that Binance US has been absolutely burning to the ground, but I actually had not realized how bad it’s really getting. If you have any funds sitting on the side lines, get them out right now. On July 20th (3 days from now) Binance has announced they are converting all USD to USDT. Okay well so what, right? We love tether right? Wrong, as of right now and for the past few weeks now Tether has been completely depegged, struggling to stay above .80 (at the time of post it’s .74) this means that your USD is about to get hit with an automatic 25% loss if you forget to exchange it. To reiterate this is a Binance US, problem only. Thy have already announced they will halt withdrawals, and have halted deposits. This is really a last ditch effort for the people who have somehow been in the dark this whole time about the chaos that’s been going down with Binance Us. Get out while you can, and if you decide to leave your funds on their website, Godspeed.