#Giveaway  on last slide

Binance Sees Net Withdrawals Of More Than $3,660,311,347

Scribbled Arrow

TRENDING GLOBALLY

FOLLOW US:  @theinsaneapp

Rumors of an American probe into Binance are spreading. The stress test for the largest cryptocurrency exchange in terms of trading volume is currently being performed.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Yesterday's report said that federal authorities are investigating alleged money laundering offenses involving Binance and Changpeng Zhao, its CEO (CZ).

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Nansen, a cryptocurrency data analyst, said that Binance had seen nearly $3 billion in net capital withdrawals over the past seven days.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

CZ reports that the exchange saw more than $1 billion in withdrawals yesterday. He stated that there were some withdrawals (net $1.14billionish) today. This has happened before.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

We have net withdrawals on some days and net deposits on other days. It's business as usual for us.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

After the demise of FTX, cryptocurrency exchanges have come under increased scrutiny for their financial operations. Binance was one of many to release proof-of-reserve reports.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Others, including Jesse Powell (creator of Kraken), have voiced their dissatisfaction at the veracity of the allegations.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Powell maintained that he was not trying to sow fear and rumors. However, he did identify possible warning signs in Binance’s most recent report.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

"Big red flag to me is the fact that this seems more like an attempt to prove collateral than proved reserves.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

They even admitted to being insolvent regarding real assets owed and tokens controlled.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

He explained that the 'collateral accounting trick' is exactly how FTX became solvent."

Twitter | Insatagram | Facebook

#GIVEAWAY BY INSANE

Do you know that we give away around $500 USd in cash prizes every week?

Let’s grow together!