Nansen Ltd., the Hong Kong-based blockchain analytics platform, on Tuesday reported that $3 billion has been withdrawn from privately held crypto exchange Binance Holdings Inc. in the last 24 hours. Binance CEO Changpeng Zhao, known as CZ, said in a tweet this morning that Shanghai-based Binance booked about $1.14 billion of withdrawals during the business day.
“We have seen this before,” CZ said. “Some days we have net withdrawals; some days we have net deposits. Business as usual for us.” The withdrawals comes as U.S. regulators charged Sam Bankman-Fried with securities fraud and other offenses and Congress held hearings on the collapse of FTX, both on Tuesday.
On its Twitter feed, Binance said it was temporarily pausing withdrawals because of a token swap involving $USDC, which are digital coins backed by the U.S. government. CZ added the deposits at Binance are not affected by the move, which it said would end when banks reopen. Meanwhile, Binance on Monday shot down a Reuters report that the U.S. Department of Justice is considering criminal charges against the company.
There is no way binance isn’t a massive accounting fraud. It’s just not plausible that it’s a viable business given all that’s happened in the industry. Wake up sheeple. Crypto has been a giant scam from the start. It’s musical chairs and the music is stopping.
Who knows what binance Balance sheet looks like? CErtainly not MazarsGroup via its 'Merkle-tree' audit. How much does it have in fiat $ and do audit firms understand how to access blockchain data? The 2022 version of mesmerism.
House of Cards.
Dayyummm
Woow
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Source: CoinDesk - 🏆 291. / 63 Read more »