"They need to know that they are really hurting themselves"

For some time there has been a lot of discussion about real and fake transaction volumes for cryptographic exchanges. Among the people who said a word or two about it, the recent tweet of the CEO of Binance seems to have hit a nerve.

"It's a bit difficult to master"

In his tweet, the CEO, Changpeng Zhao, did not mince his words expressing his dissatisfaction with the fact that most of the cryptographic exchanges listed above Binance actually have far fewer customers than his exchanges, publish more of trading volumes as Binance. This is all the more because Binance is currently the most widely used encryption exchange in the world. So what's going on?

They pretend. One can not deny that, given the facts on the ground, Binance should in fact be the highest ranked cryptographic exchange, but it is currently ranked 8th.thFar behind trade like CoinBene, OOOBTC, HitBTC and Coineal. It's very strange that some of these trades are worth $ 500 million in daily trading volumes.

It's a "secret" that I did not want to share with them before, lol … But for the health of the industry, we need to let them know that they are really hurting themselves.

– CZ Binance (@cz_binance) April 6, 2019

"A secret that I did not want to share with them"

In the same tweet, Zhao went on to explain that what these exchanges do not know is that credibility is the key to success in the cryptography industry. Who would trust a false exchange with their hard-earned money?

However, Zhao started a joke in the mix to calm things down, claiming that the credibility part is a secret he has known but that he has been reluctant to share with the deceitful exchanges. Nevertheless, he felt that he had to let them know their wrongs, even if it was only to preserve the health of the cryptography industry.

Funny twist

The fun part of all volume simulation operations is that the exchanges harm themselves to the process. According to Zhao, no one wants to entrust his money to such unreliable trading, which means that if they simulate their volumes and rank at the top, they end up losing customers and business.