Binance

When the crypto market melted down, Binance appeared as both the main antagonist and market savior. The exchange started the run that felled its rival, FTX, ...

[November 11:](https://www.cnbc.com/2022/11/11/sam-bankman-frieds-cryptocurrency-exchange-ftx-files-for-bankruptcy.html) FTX files for Chapter 11 bankruptcy. [November 9:](https://www.cnbc.com/2022/11/09/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html) Binance rescinds the buyout offer. [November 25:](https://forkast.news/headlines/binance-says-it-will-set-up-us1-billion-recovery-fund-for-distressed-crypto-businesses/) Binance says it will set up a $1 billion recovery fund for the industry. [November 6:](https://www.coindesk.com/business/2022/11/06/binance-sells-holdings-of-ftx-token-as-alameda-ceo-defends-firms-financial-condition/) Binance sells its FTT tokens, pushing down the price of FTT and starting a run on FTX. [November 8:](https://www.reuters.com/markets/currencies/cryptocurrencies-slide-concerns-over-ftx-exchange-rattle-markets-2022-11-08/) Binance offers to buy rival FTX. [November 2:](https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/) CoinDesk published a story revealing that a chunk of Alameda’s balance sheet was made up of FTX’s native exchange token FTT.

John Reed Stark, a former U.S. Securities and Exchange Commission (SEC) regulator, said that Binance's recent “proof of reserves” report is how he defines a ...

Binance has gone to great lengths to verify its financial footing after FTX slid into bankruptcy last month. Stark worked for the SEC for 18 years, founding the Commission’s Office of Internet Enforcement. Stark compared this to bringing someone into your house to inspect it for fire safety, only for them to tell you that they are not sure whether their inspection procedures were any good. A “Merkle Tree” is a cryptographic tool that allows for “the consolidation of large amounts of data into a single hash,” [a recent tweet](https://twitter.com/JohnReedStark/status/1598703793146830848?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1598703793146830848%7Ctwgr%5E5854473c2cacc05b290fbd0004623595c85cf2b3%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoinedition.com%2Fex-sec-official-calls-tether-usdt-a-ponzi-house-of-cards-scheme%2F), pointing to “evasion/deflection/lack of responsiveness” on the part of the stablecoin giant. [that](https://twitter.com/JohnReedStark?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) Binance’s recent “proof of reserves” report is how he defines a “red flag.”

Splits between U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest ...

Binance has hired a former chief of MLARS, Kendall Day, a partner at Gibson Dunn, to engage in discussions with the Justice Department. MLARS has a reputation in the Justice Department for moving slowly in reaching prosecution decisions, people familiar with its activities said. This extended, the person told the advisor, to Zhao's approvals for financial decisions at Binance.US, the separate American exchange which publicly says it is "fully independent" of the main Binance platform. In a bankruptcy hearing, attorneys for FTX said the exchange was run as a "personal fiefdom" of Bankman-Fried. A summary of a company meeting in October 2018, attended by Zhao, said, "Lawyer up in the US, address regulatory risks." Its head of legal, Jared Gross, was a former mergers and acquisitions lawyer with little experience in dealing with authorities, according to two people who worked with him. Binance began to address the chances of U.S. Binance has disputed the articles, calling the illicit-fund calculations inaccurate and the descriptions of its compliance controls "outdated." FTX imploded in early November, triggering a wave of public demands for greater regulation of the cryptocurrency industry. sanctions, and plotted to evade regulators in the United States and elsewhere. The new reporting shows that the case has shadowed Binance for most of its five years in existence, shaping Zhao's management of the company while he drove its explosive growth around the world. Through interviews with almost a dozen people familiar with the case, including current and former U.S.

Binance, the world's largest exchange by trade volume, witnessed a spike in fear, uncertainty and doubt (FUD) surrounding its proof of reserves report.

The author makes no representations as to the accuracy, completeness, or suitability of this information. Binance didn’t meet the 1:1 ratio of customer reserves to customer assets. The author will not be held responsible for information that is found at the end of links posted on this page. The fund is made up of Bitcoin and two tokens created by Binance. are included in the report as the scope was limited to Bitcoin assets and liabilities. On the exchange’s website, Binance explains that proof of reserves specifically refers to assets held in custody for users. The exchange informed users on November 9 that SAFU balance was topped back to $1 billion. It remains unclear whether all the assets of Binance Capital Management Co. The firm’s letter, however, was not a full audit report and didn’t address the effectiveness of the company’s internal financial-reporting controls. The reserve report is a five-page letter from a partner at a South African affiliate of Mazars. Jesse Powell, co-founder and CEO of Kraken exchange, Binance’s competitor, believes that the platform made an attempt to prove collateral rather than reserves in its report. While the exchange attempts to shore up investors' confidence, crypto Twitter buzzes with speculation that Binance is less than 100% collateralized, a red flag for the exchange’s solvency.

Binance positions itself as the world's leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of ...

[Website](https://minepi.com/) [Website](https://www.certik.com/) [Docs](http://docs.coredao.org/) [Website](http://coredao.org/) [GitHub](https://www.reddit.com/r/0xPolygon/) [ annual BreakPoint conference.](https://www.bsc.news/post/solana-labs-ceo-anatoly-breaks-down-solanas-web3-future-at-breakpoint-day-1) There have also been partnerships with Instagram, Helium, and projects associated with Jump and Coral. [Website](https://polygon.technology/) This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. [Telegram](https://t.me/BinanceExchange) [Discord](https://discord.com/invite/vKNp6qxw7a) [Website](https://www.binance.com/en) [CEO Changpeng Zhao (CZ)](http://bsc.news/post/influential-crypto-figures-who-is-changpeng-zhao-cz-binance) has taken to Twitter to calm users and investors publicly.

The Block confirmed Friday it had received funding from Sam Bankman-Fried's trading arm for two years.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [LINK](https://www.coindesk.com/price/chainlink/)): Chainlink’s new “staking” program was intended to be broad-based by limiting each wallet to 7,000 LINK tokens. But blockchain data shows one large holder – a “whale,” in crypto parlance – recently was able to [get around the limits by creating more than 150 addresses](https://www.coindesk.com/business/2022/12/12/chainlink-whale-oldwhite-used-more-than-150-wallets-to-avoid-staking-limits/) – and then staking the full 7,000 LINK allotment from each of them. [strict set of editorial policies](/ethics/). [Crypto Markets Today](https://www.coindesk.com/newsletters/market-wrap/), CoinDesk’s daily newsletter diving into what happened in today's crypto markets. - According to a Binance spokesperson, “As has been reported widely, regulators are doing a sweeping review of every crypto company against many of the same issues. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of [stock appreciation rights](https://www.investopedia.com/terms/s/sar.asp), which vest over a multi-year period. The decline violated the DAO's 3% price fluctuation threshold for price fluctuations to be considered de-pegs. - Binance refuted the Reuters article in a statement. Historical pricing data on bitcoin suggests crypto winter will likely worsen next month. - Prosecutors in the U.S. Ether followed a similar pattern, sliding below $1,250 before regaining ground to trade at about $1,275, up slightly from Sunday, same time.

The so-called proof-of-reserves report was released on December 7 in the form of a 5-page PDF document prepared by the global accounting firm Mazar's South ...

This is how I define a ‘red flag’,” Stark wrote in a The report was based purely on an “Agreed-Upon Procedures (“AUP”) engagement,” and is therefore limited in scope. And we know in the US, even with all the good systems, banks have occasionally been caught off-guard,” Schroeder said. “Binance’s ‘proof of reserve’ report doesn’t address effectiveness of internal financial controls, doesn’t express an opinion or assurance conclusion and doesn’t vouch for the numbers. Carmichael, who is also a former chief auditor of the U.S. It has also never indicated that it plans to do so.

Illicit funds processed by Binance in 2022 allegedly amounted to $10 billion.

Instead, Gambaryan reports more generally on Binance efforts taken since November 2021, including responding to “more than 47,000 law enforcement requests” and drastically expanding the exchange’s security and compliance teams to span 300 investigators that are dedicated to protecting users from bad actors. This, Reuters reported, has obstructed DOJ from accessing some records officials have requested and could be partly responsible for MLARS' hesitancy to file charges. Now, [Reuters reports](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) that some federal prosecutors feel they’ve amassed enough evidence to file criminal charges against Binance—including individual charges against Binance founder Changpeng Zhao—but other DOJ officials are standing in the way. Today, as Reuters published its report, Binance [published a blog](https://www.binance.com/en/blog/leadership/inside-binances-fight-against-crypto-crime-5422427314690193337) from Tigran Gambaryan—a former IRS cybercrimes special agent who’s now the company’s global head of intelligence and investigations—seemingly getting ahead of the Reuters report by discussing how Binance fights against crypto crime. During those meetings, Binance lawyers reportedly also expressed concerns that the DOJ filing charges now could further disrupt the already crashing cryptocurrency market. While no charges have been filed, Binance has seemingly devoted resources to persuading DOJ against taking any actions.

Reuters reports that, while yet to be filed, charges under investigation are unlicensed money transmission, money laundering conspiracy, and criminal sanctions ...

Binance’s assets have a net value of $64.5B, according to Nansen. “Binance’s ‘proof of reserve’ report doesn’t address [the] effectiveness of internal financial controls, doesn’t express an opinion or assurance conclusion and doesn’t vouch for the numbers…This is how I define ‘red flag’,” Stark tweeted on Dec. The firm doesn’t appear concerned with the doubts swirling around Binance — it deposited $124M deposit of USDC into Binance while withdrawing $127M from Coinbase.

Binance endured $902 million of net outflows in the past 24 hours, according to data by Nansen. ... Binance, the world's largest crypto exchange by trading volume ...

[Wintermute](https://www.coindesk.com/markets/2022/11/11/wintermute-ceased-trading-and-moved-funds-from-crypto-exchange-ftx-us-before-warning/) acknowledged in a [tweet on Nov. CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). [a report by auditing firm Mazars](https://www.coindesk.com/business/2022/12/07/binances-bitcoin-reserves-are-overcollateralized-says-audit/) last week claiming that its bitcoin ( [BTC](https://www.coindesk.com/price/bitcoin/)) reserves are overcollateralized. [Industry experts](https://twitter.com/JohnReedStark/status/1601760070806560768) and recent [reports](https://www.wsj.com/articles/binance-is-trying-to-calm-investors-but-its-finances-remain-a-mystery-11670679351) flayed the document for its narrow scope, and on Monday, Reuters [reported](https://www.coindesk.com/business/2022/12/12/us-prosecutors-look-to-charge-binance-and-cz-for-possible-money-laundering-violations-reuters/) that U.S. 9](https://www.coindesk.com/business/2022/11/09/who-still-has-exposure-to-ftx/) that some funds remained on Sam Bankman-Fried’s crypto exchange FTX, which imploded last month in spectacular fashion. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of [stock appreciation rights](https://www.investopedia.com/terms/s/sar.asp), which vest over a multi-year period. Binance didn’t reply to a request for comment. [Circle’s USDC](https://www.coindesk.com/price/usd-coin/) stablecoin. [in a tweet](https://twitter.com/cz_binance/status/1602322435382157312?s=20&t=IxK3EDcBVa3qFblah9mhxw). [$64 billions of assets](https://portfolio.nansen.ai/dashboard/binance) on Binance. [FTX filed for bankruptcy protection](https://www.coindesk.com/policy/2022/11/11/ftx-files-for-bankruptcy-protections-in-us/), according to data provided by blockchain data platform Arkham Intelligence.

Crypto analytics portal Nansen reports a large outflow of funds from leading cryptocurrency exchange Binance in the last 24 hours. It reported a net outflow ...

According to reports, the firm has transferred almost $150 million to Binance in the last few hours, having previously withdrawn it from Coinbase. Thus, Jump withdrew $146 million from Binance in the last week. The head of the exchange,

Binance, the world's biggest crypto exchange, said on Tuesday it had "temporarily paused" withdrawals of the major stablecoin USDC.

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Changpeng Zhao, CEO of Binance, tweeted on Tuesday that the exchange is seeing an increase in withdrawals of USDC.

[critics](https://www.wsj.com/articles/binance-is-trying-to-calm-investors-but-its-finances-remain-a-mystery-11670679351) have said that the proof of reserves have not gone far enough to give assurances of Binance's collateral. Reuters, citing four people familiar with the matter, reported that the investigation is focused on Binance's compliance with anti-money laundering laws. Department of Justice prosecutors are delaying the conclusion of a criminal investigation into Binance. Zhao said that any transfers into USDC from the stablecoin known as PAX, as well as Binance's own token BUSD, require routing through a bank based in New York which is not yet open. USDC is used by investors to trade in and out of different cryptocurrencies without the need to move money back into U.S. Binance has more than $60 billion of assets on its platform, Nansen said. [Reuters](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) that U.S. That means it has enough assets to cover customer deposits. If traders are withdrawing USDC from Binance, it could be to move it onto another platform. There is no indication of any such trouble for Binance. - Binance, the world's largest cryptocurrency exchange, paused withdrawals of the stablecoin USDC on Tuesday while it carried out a "token swap." Changpeng Zhao, CEO of Binance, tweeted that the exchange is seeing an increase in withdrawals of USDC, a cryptocurrency known as a stablecoin because it is pegged one-to-one with the

The Binance CEO said that swapping USDC Coin with two other crypto tokens – Paxos Standard and Binance USD – requires using traditional dollars at a bank in ...

Binance is reportedly ramping up its legal department amid a DOJ probe and a slew of charges tied to the exchange's alleged money laundering conspiracy and ...

Craig Wright](https://coingeek.com/news/tag/dr-craig-wright/), author of the [Bitcoin white paper](https://craigwright.net/bitcoin-white-paper.pdf). The [Wall Street Journal](https://www.wsj.com/articles/rivals-worried-sam-bankman-fried-tried-to-destabilize-crypto-on-eve-of-ftx-collapse-11670597311), which received copies of the same messages, said the chat also included [Jesse Powell](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjmrp3ko_X7AhW5ATQIHRvPDhYQFnoECAsQAQ&url=https%3A%2F%2Fcoingeek.com%2Fjesse-powell-of-kraken-joins-crypto-ceo-skedaddle%2F&usg=AOvVaw0TehjBXjPdxYdipVVHft2y), co-founder of the U.S.-based [Kraken](https://coingeek.com/news/tag/kraken/) exchange, [Tron](https://coingeek.com/news/tag/tron/) founder [Justin Sun](https://coingeek.com/news/tag/justin-sun/) and Tether’s chief technology officer [Paolo Ardoino](https://coingeek.com/tether-execs-bat-away-cnbc-questions-on-usdt-lack-of-transparency/). If [‘financial criminals are counting on us’](https://coingeek.com/binance-at-the-center-of-100m-digital-currency-scam-in-pakistan/) is the best argument Binance has, CZ will likely need more than Tai Chi to fend off any amorous cellmates. [actively colluded to delist BSV](https://coingeek.com/roger-ver-the-notorious-nexus-in-exchanges-bsv-delisting-campaign/) based on their opposition to [Dr. Two-thirds of the original billion dollars in this fund was comprised of BUSD and BNB, while the additional billion CZ announced would be allocated to the fund was [entirely made up of BUSD](https://twitter.com/cz_binance/status/1596024244537737216). But so great was the need for FTX/Alameda to raise some quick cash that SBF allegedly [tried to short Tether](https://www.marketwatch.com/story/ftxs-affiliated-trading-firm-alameda-appears-to-have-shorted-tether-11668122483), a strategy that didn’t endear SBF to CZ. At the time of BUSD’s launch in 2019, CZ referred to it as “our native stablecoin.” But as BUSD came under greater scrutiny, CZ’s [narrative shifted](https://coingeek.com/changpeng-zhao-distances-binance-from-busd-as-more-regulators-tighten-oversight/) to the claim that the U.S.-based Paxos is the one that issues BUSD, while Binance “lend branding support only.” CZ [claimed](https://twitter.com/cz_binance/status/1602323383554809857) that “Now we really know…” who allegedly ‘paid’ for [a July report by Bloomberg](https://coingeek.com/binance-ceo-changpeng-zhao-sues-bloomberg-hypocrisy-much/) that made similar claims regarding Binance’s legendary disdain for the rule of law. [‘Tai Chi’ strategy](https://coingeek.com/crypto-crime-cartel-leaked-binance-strategy-shows-law-enforcement-must-prosecute-now/) of setting up a separate, more compliant [U.S.-focused exchange](https://coingeek.com/crypto-crime-cartel-binance-probe-confirms-much-of-what-its-leadership-has-spent-years-denying/) as a way to “insulate” the dot-com mothership from unwanted American scrutiny. While CZ has touted the attestation as a formal audit, Mazars defines [its report](https://veritas.mazars.com/binance/Binance_POR_Report_7_December_2022.pdf) as being based on ‘Agreed-Upon Procedures’ (AUP), which involves “performing the procedures that have been agreed with Binance.” Department of Justice (DOJ) are preparing charges of unlicensed money transmission, [money laundering conspiracy](https://coingeek.com/us-authorities-sought-binance-internal-docs-on-money-laundering/), and [criminal sanctions violations](https://coingeek.com/ayatollah-you-so-binance-flips-off-us-economic-sanctions-on-iran/) against Binance. [Reuters](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) reported that officials at the U.S.

Bitcoin withdrawals surge thanks to Binance FUD as BTC price sees continued strength.

[taking critics to task](https://twitter.com/cz_binance/status/1602579499903852544) and Sun performing a $100 million deposit back to Binance, users were quick to remove their own funds from their accounts. At the time, however, [Binance’s BTC balance actually increased](https://cointelegraph.com/news/us-crypto-exchanges-lead-bitcoin-exodus-over-1-5b-in-btc-withdrawn-in-one-week) [.](https://cointelegraph.com/news/us-crypto-exchanges-lead-bitcoin-exodus-over-1-5b-in-btc-withdrawn-in-one-week) [joked](https://twitter.com/Pentosh1/status/1602515956563058689) as the FUD precipitated BNB/USD weakness. “You can FUD about someone without explicitly mentioning their name, which spreads awareness. [sharing](https://twitter.com/binance/status/1602287184400326656) a statement from Binance refuting the report’s claims.

Binance Holdings Ltd., the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations ...

[Nansen](https://pro.nansen.ai/exchange-flows/exchanges) as of 9:20 a.m. [Binance Holdings Ltd.](/quote/1624796D:CH), the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations that rival FTX may have misused customer funds before its November implosion. Net outflows of digital tokens from Binance amounted to about $3.7 billion in the past week, including almost $2 billion in the last 24 hours, according to data from research firm

LONDON (Reuters) -Binance, the world's biggest crypto exchange, saw withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on ...

The world's largest cryptocurrency exchange by trading volume saw withdrawals jump at the start of the week. Traders are on edge following a series of ...

The company operates in a way to "ensure that we always have more than enough funds to fulfill withdrawal requests," he said.\n\nChangpeng Zhao, Binance’s chief executive, said on Twitter that the exchange has seen an increase in withdrawals of USDC, a so-called stablecoin whose value is pegged to the dollar. That was less than the $2.3 billion pulled in the week that followed FTX's implosion.\n\n"People deposit and withdraw assets everyday for a variety of different reasons," said a Binance spokesman. Concerns over Binance have amplified following its recent release of a narrow “proof of reserve report” that left investors with questions about the state of its finances.\n\nNet outflows, the difference between the value of assets arriving and leaving the exchange, totaled $1.6 billion over the prior 24 hours as of about 1:30 a.m.

Binance, the world's biggest crypto exchange, saw withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on Tuesday, ...

Binance, the world's biggest crypto exchange, saw withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on Tuesday, ...

We expect the situation will be restored when the banks open." Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation focused on Binance's compliance with U.S. "The banks are not open for another few hours. The report showed its holdings of bitcoin exceeded customer deposits on a single day in November. User assets at Binance are all backed 1:1 and Binance’s capital structure is debt free." This is business as usual."

As the crypto markets are enjoying a breather today, with Cardano (ADA) and Bitgert (BRISE) posting stable performances, Binance Coin (BNB) is posting the ...

Cardano (ADA) and Bitgert (BRISE) prices are first stable because the market bulls are growing stronger today. However, Bitgert (BRISE) is projected to post one of the biggest price growths in the next few days and might actually experience a bull run. Therefore, Bitgert (BRISE) might be the best coin to buy today. The crypto market is enjoying a breather this morning, with most of the coins experiencing a slight recovery from the past few days’ decline. The Binance coin has been dealing with a ‘transparency’ issue in the past two days after the reserve report. In fact, Binance (BNB) is down 7% in the past 24 hours to trade at $257, while the global marketcap had increased 0.83% during the same period.

Binance's BNB token has been in a bit of a freefall lately despite a net positive week for the cryptocurrency markets. Used as a utility...

In anticipation of rate cuts after a year of inflation-busting hikes, US equities have been on a risk-on rally, with the S&P 500 index up 1.7% and Nasdaq up nearly 2.5%. Forecasts of 7.3% underestimated the rate of economic cooling, with the last reading of the year coming in at a 12-month low of 7.1%. The 20-day moving average (MA) widens south of the 50-day MA in a bearish manoeuvre – Source: currency.com [stating on Monday](https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/) that “splits between US Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest cryptocurrency exchange Binance”. Binance’s BNB token has been in a bit of a freefall lately despite a net positive week for the cryptocurrency markets. Yet in the space of a few hours early Tuesday afternoon, BNB had rebounded to highs of US$280 and at the time of writing, is showing potential to rally further by the session close.

Binance, the world's largest cryptocurrency exchange, said Tuesday it is pausing withdrawals of the stablecoin USDC while it completes a token swap ...

[experienced](https://twitter.com/nansen_ai/status/1602673823651864577) the highest daily amount of withdrawals since June. Former SEC regulator John Stark [told Decrypt](https://decrypt.co/116958/former-sec-regulator-binances-proof-reserves-audit-how-i-define-red-flag) that Binance’s report failed to address internal financial controls and lacked an “assurance conclusion.” Nansen analyst Andrew Thurman [tweeted](https://twitter.com/Blockanalia/status/1602337143048781826) that Jump Trading, one of the largest crypto market makers, was among the biggest redeemers. Concern about Binance have also grown in recent weeks. [added](https://twitter.com/cz_binance/status/1602579499903852544) in a Twitter post: “On USDC, we have seen an increase in withdrawals. The banks are not open for another few hours.

Investors have pulled more than $1bn from Binance as the world's largest cryptocurrency exchange fights against a crisis of confidence in digital tokens and ...

For cost savings, you can change your plan at any time online in the “Settings & Account” section. Compare Standard and Premium Digital For a full comparison of Standard and Premium Digital,

The world's biggest crypto exchange said it had 'temporarily paused' withdrawals as CEO said it was 'business as usual'.

Some days we have net withdrawals; some days we have net deposits. Some days we have net withdrawals; some days we have net deposits.” We expect the situation will be restored when the banks open.” “The banks are not open for another few hours. We have seen this before. [FTX founder Sam Bankman-Fried was charged](/economy/2022/12/13/us-charges-ftxs-bankman-fried-with-fraud) by the US Securities and Exchange Commission on Tuesday with defrauding investors.

Billions of dollars worth of digital tokens have been withdrawn from Binance as traders move to take control of their holdings.

The comparable figure in the last week of October was about seven times. Its daily average trading volume in the first week of December was over eight times greater that of runner-up Coinbase Global. Binance has cemented its position as the biggest crypto exchange in the wreckage of FTX’s November 11 bankruptcy. Zhao — also known as CZ — has been trying to restore confidence in the industry. Binance temporarily halted withdrawals of stablecoin USDC on Tuesday because it couldn’t process those transactions until its banks in the US opened, Zhao said in a tweet. Binance founder Changpeng Zhao has taken to Twitter in past days to express confidence in the firm’s outlook.