Companies that are “poorly” designed, managed, or operated are “bad projects,” the blog post said.“Sadly, some of these ‘bad’ projects have a large number of users, often acquired through inflated incentives, ‘creative’ marketing, or pure Ponzi schemes,” Binance wrote.
“Bailouts here don’t make sense. Don’t perpetuate bad companies. Let them fail. Let other better projects take their place, and they will.”
As major players with big reserves such as Binance and FTX look out at the crypto firms struggling to survive, they will likely be assessing good and bad models, and fast and slow leverage.Binance discusses difference between current crypto crash and 2018, shares take on bailouts | Fortune