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HomeCrypto NewsBinance Tries To Restore It’s Trust
Crypto News


BINANCE TRIES TO RESTORE IT’S TRUST



By admin
March 1, 2023
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Binance, which stopped withdrawals of USDC in the US on Tuesday, is trying to
restore confidence after more than a billion dollars worth of crypto was
withdrawn from the platform. Zhao, CEO of the platform, which started the USDC
shootings again, stated that the platform passed this stress test, and also
shared an encrypted message. Stating that the encrypted message is a guess, Zhao
said that if it turns out to be correct, he will explain the message.

A spokesperson for Binance, the world’s largest crypto asset platform, said
about the recent withdrawals and concerns about transparency, “People make
deposits and withdrawals every day for different reasons. “User assets on
Binance have a one-to-one counterpart, and Binance has no debt in its capital
structure.”

Due to the lack of trust following the collapse of FTX, users are withdrawing
their assets from billionaire Changpeng Zhao’s platform. According to research
firm CryptoQuant, 40,353 Bitcoin and 278,17 Ether were withdrawn net from
Binance on Tuesday.

Announcing that approximately $1.14 billion in net assets were withdrawn from
the platform on Tuesday, Zhao announced today that the situation has calmed down
and users have started to invest their assets back into the platform. (This is
not even among the top five withdrawals we have made in one day. We did a lot of
shooting,” he added.


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