Binance had to stop USDC withdrawals shortly after FTX. The US lawsuit that emerged in December and the Bitcoin outflow exceeding $ 2 billion increase the burden on the shoulders of the stock market. So, can the world’s largest crypto exchange suffer the same fate as FTX? Let’s see what the experts say…
Is Binance the next FTX?
Due to concerns about Binance, users have withdrawn large amounts of money from the exchange. According to blockchain analytics firm Nansen, a net withdrawal of $3 billion from Binance took place on December 13. On December 12, there were reports that US prosecutors might act aggressively against Binance. These included several Binance executives, including CZ. But Binance calmly responded to the massive withdrawals that emerged with the FUD news. Green Crypto Processing COO Ivona Gutovic says Binance users shouldn’t worry:
Right now it’s safe to say that Binance won’t crash after FTX. The whole point is that the problems are a result of the situation in FTX.
Ignore FUD. Keep building!
— CZ 🔶 Binance (@cz_binance) December 12, 2022
Similar to Gutovic, crypto expert Roman Kurzenev says there is no need to worry. Kurzenev states that Binance has been transparent and subject to audits for years. Stating that the stock market has been under investigation since 2018, the researcher draws attention to the fact that no traces of crime were found during this time. He also mentioned that Binane is in close contact with regulators.
