In the recent video Altcoin Buzz host Maddie commented on the growing pressure on the world’s largest exchange by trading volume. BinanceHe was prompted to do this by reports of large withdrawals of funds.
He also pointed to the massive $40 billion market selloff on October 10, which triggered widespread panic. The blogger also addressed online rumors that Crypto.com filed a lawsuit against Binance, which was not officially confirmed.
One of the main issues has been the size of recent withdrawals from BinanceAccording to CoinGlass, the outflow of funds exceeded $21 billion in seven days, but the data DeFillama indicate that deposits amounted to $4,2 billion over 30 days.
The team itself Binance called the negative messages part of a coordinated campaign FUD, aimed at undermining trust in the platform.
Moreover, the exchange’s co-founder, Yi He, said that influencers were offered $20,000 to spread false information about Binance.
CryptoQuant senior analyst Julio Moreno drew attention to the fact that over the week, reserves Binance decreased by $8 billion. And just a few weeks ago, reserves increased by $14 billion.
Binance has also come under fire for the costly listing of new coins. Limitless Labs CEO CJ Hetherington accused Binance in demands to carry out airdrops to platform clients or large payments.
In addition, a unified accounting system Binance was considered one of the reasons for the October 10th crash. It allowed traders to use assets such as USDE, WBETH, and BNB as collateral, with liquidation prices set by its own order book. Binance, rather than external oracles. This structure increased the risk of liquidation.
In the end, Maddie said that high liquidity Binance makes any destabilization difficult, but no exchange is immune to systemic risks.