Cryptocurrency

$8.7 Billion Withdrawn From Binance (Are They In Trouble?)



$8.7 billion has been withdrawn from Binance over the last week amid market fears. Coinbase has stated hat they are ready to process withdrawals if needed. CZ and Brian Armstrong are stating their exchanges are strong. Paxful CEO is encouraging his own users to withdraw funds from Paxful.

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36 Comments

  7. o_0

    Lol nah he has to be fronting. He doesn’t want to show any vulnerabilities which will cause investors to lose confidence in him and his company.

  12. Duran

    🆘⚠️Justin Sun has injected liquidity in Binanace to help it.
    🆘⚠️Former Kraken CEO warned that Binance prove of reserve is faulty.

  21. C Young

    i think telling people that trust wallet is safe is not well-advised, it’s owned by binance – if binance goes down, trust wallet goes down, ledger is truly safe because they aren’t an exchange, they are just storage, so there’s no risk of co-mingling or fraud, because they literally don’t have access to user funds. We really don’t know what binance and CZ have access to with trust wallet

  23. Mauri Silverman

    i mean ftx supposedly had a wallet where the crypto was owned byy the customer… problem is that was a lie… as were so many others….. i have nothing in, but if you do cash everything u have….. crypto is nothing but investment speculation… there is no underlying product….. just more people coming in at the bottom as long as there is hype…….. kind of like a pyramid…

  25. Rommel Lagera

    One thing for sure, it will be beyond stupid if you still loose money in Binance, they already published a questionable audit report what else to look for

    CZ one way or another have a hand in FTX demise but shot himself in the foot in the process. I wonder why in FTX hearing they never explain that these exchanges are not making money or big enough money to be valued in billions. They leverage the coins they hold (because coins don't have tangible long term value) to traditional currency. This is where the problem begins and eventually ends in ugly situation. Funny how greed works, you have many investment company putting in hundreds of millions in this exchanges without opening the books.

  30. ben harrison

    Binance is not in trouble lol. They don't leverage user funds without the users permission. So if everyone withdraws, where's the problem. They pay all withdrawals. No difference to them, they earn a living from trading fees

  32. Bryce Johansen

    To me, binance was a safe place to trade crypto when they weren't being talked about.
    When People/Media/celebrities were talking about Luna… crash
    When People/Media/celebrities were talking about FTX… crash

    Don't like it.

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