Binance Loses $12 Billion in Assets Due to User Withdrawals
Sponsored
Sponsored
Binance Loses $12 Billion in Assets Due to User Withdrawals Despite the recovery of the cryptocurrency markets after the collapse of the FTX exchange, the situation with the withdrawal of funds on Binance has not yet returned to normal. According to a recent Forbes report, Binance has lost $12 billion in assets as users continue to withdraw money from the exchange. Binance, the leading crypto exchange, is currently struggling to hold on to its holdings. Investors have been selling their cryptocurrency since competitor FTX collapsed, and despite CEO Changpeng Zhao’s claims that the situation has calmed down, the outflow is
The Binance cryptocurrency exchange plans to launch a branch in Kazakhstan by mid-2023. About it writes RIA Novosti with reference to the statement of the regional director of the company Vladimir Smerkis. According to him, the exchange will be able to offer exchange and conversion services, deposits and withdrawals of…
Binance urges U.S. court to dismiss FTX’s $1.76B lawsuit. Binance blames FTX’s collapse on internal fraud, not interference. FTX claims Binance deal and Zhao’s remarks worsened its downfall. In a major development, Binance, one of the world’s largest cryptocurrency exchanges, has requested a U.S. court to dismiss a $1.76 billion…
Binance sent 110K SOL and 8K ETH to Wintermute, which were not linked to customer withdrawals. Binance’s July PoR shows full backing for SOL and ETH, raising questions on asset origin. The source of the Binance transferred assets raises questions despite reported 100% reserve ratios. Between August 1 and 2,…