This wave of Binance really feels like it's starting to take control!

On the surface, it's about the regulations for Market Makers (MM), but if you look closely at those red lines: no crashing the market, no coordinated manipulation, no guaranteed profit sharing, even the purpose of token lending must be made clear—this isn't about setting rules, it's almost calling out the recent trend of 'active market making' in the market.

Especially like $SIREN , many people, including myself, were liquidated because of it! Projects that mix liquidity, sentiment, and rhythm all together in a short time, to put it plainly, are pushing market making toward tighter control. Now CEX is clearly starting to feel uncomfortable.

The key point isn't the rules themselves, but the attitude: on one hand, the platform wants 'market integrity', while on the other hand, the project parties want 'narrative + price management'. These two things are inherently in conflict.

But the problem arises—if we really follow this set of rules, the market may become 'cleaner', but it could also be 'boring'. Without volatility, there is no attention; without attention, there is no liquidity.

So what you're seeing now isn't really regulation, but a kind of test:

CEX is redefining boundaries, and active MM, will they continue to push the limits? #币安