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FatManTerra's profile
FatMan
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@FatManTerra

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FatMan

@FatManTerra

FatMan from the Terra Research Forum I provide research, updates, and analysis on the Terra situation as it unfolds. Views are my own opinions.

fatmanterra.eth
Joined May 2022

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    1. FatMan‏ @FatManTerra May 31

      Here are some interesting insights about the inner workings behind Binance US from my interview with a verified insider there. It's nothing crazy, but it gives you a little context surrounding company culture. (1/8)

      43 replies 72 retweets 337 likes
      Show this thread
    2. FatMan‏ @FatManTerra May 31

      "Binance US likes to masquerade as a different company, but it's really just an arm of @binance and operates under CZ's supreme will given the new leadership changes. They knew the SEC would never let a Chinese company IPO." (2/8)

      3 replies 6 retweets 76 likes
      Show this thread
    3. FatMan‏ @FatManTerra May 31

      "We knew something was up when CEOs started quitting - we went through 3 or 4 different CEOs over a one year period, and the chief legal officer quit last November, so there was clearly something odd going on. The CEO we ended up with now is CZ's right hand man's brother." (3/8)

      1 reply 4 retweets 77 likes
      Show this thread
    4. FatMan‏ @FatManTerra May 31

      "The original chief marketing officer was forced out of the company, and a new CMO, Leah, who was directly trained and appointed by CZ, took their place. This shifting company culture led to quite a few issues, since all of the knowledgeable crypto experts were out." (4/8)

      1 reply 3 retweets 69 likes
      Show this thread
    5. FatMan‏ @FatManTerra May 31

      "At this point their due diligence process for new listings had become extremely weak, since analysts who had been around crypto for a long time weren't there anymore. Their listing process is highly susceptible to meaningless crypto-jargon and hype marketing tactics." (5/8)

      1 reply 4 retweets 71 likes
      Show this thread
    6. FatMan‏ @FatManTerra May 31

      "The people working there have been picked up straight from ISP call centers. A lot of support is outsourced to the Phillipines. I don't even need to explain the security risks there - imagine someone in a third world country being able to reset your 2FA and view your data. (6/8)

      11 replies 7 retweets 96 likes
      Show this thread
    7. Liviu Stoica‏ @livvius May 31
      Replying to @FatManTerra

      @FatManTerra may I ask why people from the third world country cannot reset your 2FA and others yes?

      2 replies 0 retweets 10 likes
      FatMan‏ @FatManTerra May 31
      Replying to @livvius

      I think he meant the security concern of sending data access portals to an unregulated, offshore location with lower security and lower oversight (as opposed to a USA office with CCTV). First world countries tend to have better regulatory/privacy laws in place.

      6:36 AM - 31 May 2022
      • 4 Likes
      • Gepard jmo 🌱 Alcosta 🐊🩺💉 ☘ FORA BOLSONARO FORA LULADRÃO🟩🟨 Viveksingh Bhadoriya
      4 replies 0 retweets 4 likes
        1. New conversation
        2. Is‏ @Spokening_Isay May 31
          Replying to @FatManTerra @livvius

          As a Filipina who worked for years as customer service support that included verifying security for financial transactions (not Binance but for an investment securities related company). I understand the concern but from what I know the risk is about the same as any other, the

          1 reply 0 retweets 4 likes
        3. Is‏ @Spokening_Isay May 31
          Replying to @Spokening_Isay @FatManTerra @livvius

          Clien sets the security level. We had restricted card access for the "floor". Different security log-ins per pc. Phones are not allowed (tho some are smuggled) pens and papers arent allowed inside either. We wrote on mini whiteboards that we cant take out off the floor

          1 reply 0 retweets 3 likes
        4. Show replies
        1. Liviu Stoica‏ @livvius May 31
          Replying to @FatManTerra

          Then should not be allowed by the first world countries to offshore in a lower regulatory/privacy country. Maybe it's already like that, otherwise would not be too easy to overcame regulations in a first world country?

          0 replies 0 retweets 0 likes
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        1. IamNothing‏ @ThingIamNo May 31
          Replying to @FatManTerra @livvius

          The CCTV Business is thriving in the Philippines, WTF are you talking about?

          0 replies 0 retweets 1 like
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