Considering 57% of its assets consist of stablecoins and less than 20% of BTC and ETH (compared to 67% at Coinbase), it begs a question: what role does Binance really play? And is it dangerous to the rest of the crypto market?

It’s nothing short of gambling, only in this case, the bets aren’t placed on equities or commodities (or even fiat currencies), all of which generally have some fundamental value and use, but on coins whose price is mainly driven by prevailing market perceptions.

Crypto is more fiat than actual fiat currencies.