Is Binance the Next Crypto Collapse?

As of November 22 at 23:59 UTC, Binance users collectively held 575742.4228 BTC — that’s around $9.5 billion at today’s exchange rate. The Binance proof of reserves site is still showing that BTC figure despite reports of billions of dollars in withdrawals from Binance.

Analytics firm Nansen published data to show customers cashed out around $3.6 billion worth of assets over seven days from Binance.

This suggests about $6 billion worth of BTC deposits remain with Binance.

The Binance coin is still at $241. This is down from peaks of value of over $600 in 2021.

There remain many questions about Binance. Binance is unregulated and all control rests with the primary owner CZ.

Binance has multiple registrations and locations but no real headquarters.

1 thought on “Is Binance the Next Crypto Collapse?”

Comments are closed.