Facts That Were Uncovered in That Thread Every fact that you | Libre Blockchain

Facts That Were Uncovered in That Thread

Every fact that you're going to read in this list below came directly from Binance's website - written by them. There is zero speculation in this.

1. Binance Options offer unlimited upside. Very specifically, the words "unlimited upside" were used by them on their website.

2. Binance is the sole-issuer of options contracts on their platform. Again, this is something that they state on their website, verbatim.

3. Since Binance is the sole-issuer of options contracts (which have unlimited upside), they must be the counterparty on the purchase of any call or put option (there is no way for this to not be true since they're the only sellers of the options contracts).

4. Binance Options track Binance Futures contracts as their derivative asset.

5. Binance Futures allowed traders to leverage 125x on a maximum of 10 bitcoins. Back of the napkin math says traders could open $50-100M positions if they wanted to (on margin as low as 0.8%)

6. From October 2020 - January 1st, there were hardly any losing days for Bitcoin. So if you were a trader that happened to buy a call option during that time period, lucky you - you probably made a killing (at any leverage amount). If you didn't, then its likely that you were defrauded directly by Binance (which isn't something that's irrational to expect at this point).

Greater Point Here

Knowing that these Options trades with unlimited upside (their words) that had Binance as the counterparty (de facto) were settled in USDT - the fraud of USDT becomes much more relevant at this point.