In a bid to promote greater transparency in the world of cryptocurrency trading, the esteemed FatMan recently took to Twitter to express his views on the matter. Responding to the Chief Strategy Officer of Binance, Patrick Hillmann, FatMan emphasized the need for more openness and clarity regarding trading details on user accounts. This call for greater transparency is a crucial step towards building trust and confidence in the cryptocurrency market and is a sentiment shared by many in the industry.
In his recent tweet, FatMan expressed his confidence in Binance’s integrity, stating that he does not believe the platform would blatantly abscond with customer balances. Nevertheless, he did highlight the importance of increased transparency in this particular aspect of the business.
In crafting his response to a tweet from Patrick Hillmann, the esteemed Chief Strategy Officer of Binance, FatMan’s words carry a weighty opinion. His professional tone conveys a sense of expertise and thoughtfulness, lending credibility to his perspective.
Hillmann’s tweet unequivocally states that Binance has never engaged in the unethical practice of targeting user stops or liquidation prices, setting it apart from other exchanges. He further reassures the public that algorithmic processes primarily drive all trades to promote market stability and minimize slippage.
According to Hillmann, the distinction between authentic market makers and Alameda Research is significant. Binance, he notes, places a premium on safeguarding users and will never engage in aggressive trading practices that could harm them. This commitment to user protection remains steadfast and unwavering.
In response to Hillmann’s tweet, FatMan suggests that a prudent initial move would be to disclose comprehensive information regarding the internal accounts. This would include pertinent details such as trading activities, profit margins, and overall performance metrics. Such transparency is a valuable starting point toward achieving greater organizational accountability and trust.
The crypto aficionado cordially acknowledges the profitability of crypto exchanges yet maintains that advocating for transparency regarding user accounts is a perfectly reasonable request.
The tweet from the crypto enthusiast, which reads, “Our trades are not aggressive, but we aim to make a reasonable profit,” sheds light on the practices of crypto exchanges. However, the recent FTX debacle has cast doubt on the credibility of these exchanges. The individual emphasizes the importance of transparency in trading details to ensure the security of user accounts. As a professional in the industry, it is crucial to maintain a critical eye on the actions of these exchanges and prioritize the protection of our client’s assets.
Furthermore, FatMan provides precise details regarding the desired information. He articulates, “We require audited data on pairs traded, periodic volume, and profit. This will provide us with a comprehensive understanding of our internal desk’s impact on the market.” This approach ensures a professional and thorough analysis of the market’s behavior.
The astute observer notes that divulging particular trades or strategies may not be the optimal initial move. Nevertheless, he maintains that absolute opacity is inferior to both options.
