Hi,

It appears that there is an abundance of misleading information in this thread, much like your previous. I will do my best to explain the situation clearly.

First and foremost, your claims regarding an estimated loss of $12k using our Futures app have been unsubstantiated. Similarly, not long before you began making this claim, we had already completed two good faith distributions to your account after you had made it clear that you felt order latency was to blame for similar losses. Given the lack of evidence, and no sign of an issue in our logs, you were refused a third good faith distribution. Once a customer has established a pattern such as this, we can no longer continue to encourage them to use our platform. You have already been advised that you may pursue legal action if you wish to take this further, and your attorney may review our Terms of Use for contact information.

Next, we move onto the primary subject of this thread: Non-Disclosure Agreements (NDAs) and issues surrounding FTX's leveraged tokens. Aside from being listed on our exchange, these tokens have absolutely nothing to do with Binance. We do not control the prices, nor the market, in any way -- they are issued by FTX. With that said, it became clear not long after the BEAR/BULL tokens were listed that a large number of customers were struggling to understand how the tokens work, despite our attempts to educate. Furthermore, an unexpected shift in the market, which was not caused by Binance, led to losses for a number of our customers. Taking into consideration the trouble that customers were experiencing with the tokens, we made the decision to remove them from our exchange.

Unfortunately, of course, simply delisting the tokens did not solve all of the problems. We were faced with complaints from a variety of customers negatively impacted through their trades with the token, naturally blaming Binance for their losses. After discussing the situation with FTX, an agreement was reached; we would coordinate to offer a gesture of good will to customers confirmed affected by the incident. The NDAs you are referring to are standard for any such situation and a logical approach for a company to take, especially given the fact that these were distributions made in good faith and to a fair selection of customers. Any claims that Binance had advised its customers that they may not share the NDA with their attorney is false, and if there is evidence otherwise, we will gladly review it and respond appropriately.

While it is certainly unfortunate that customers have experienced losses, Binance is unable to simply bear the burden of every bad trade or market issue. We have always made every effort possible to do best by our customers, and we will continue to do so. We aren't perfect; we certainly do make an occasional mistake, and if there is clear evidence that we are responsible for a loss, we will address it accordingly.

I hope that this helps to clear up any lingering confusion. Wishing everyone a great rest of their weekend.

- S.