CZ Claims Binance Stable, Withdrawal Amount Less Than LUNA and FTX Crash

After a series of massive withdrawals over the past 1 day, CZ claimed yesterday’s withdrawal amount was lower than LUNA or FTX during the crash and the current situation of Binance remains stable. The Binance CEO also told their employees that the company will make it through the crypto winter.

CZ tweeted that users of the Binance platform had a net withdrawal of around $1.14 billion and said that Binance is operating as usual. It thinks it would be a good idea to “stress test withdrawals” on each CEX in turn.

Users also became worried when the exchange announced the suspension of USDC withdrawals amid a series of rumors of a crisis.

However, today the USDC withdrawal service has reopened and reassured users that their assets are still maintained at a 1:1 ratio on Binance and that the company also has no debt.

Recently, CEO CZ shared that Binance has stabilized again and warned his colleagues of the difficult months ahead and said the company will overcome the current challenges. He also suggested that the recent collapse of FTX has brought Binance “a lot of conundrums and additional scrutiny”.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News