Binance benefits big-time from FTX's collapse

Hanno Labuschagne

Hanno Labuschagne

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Binance benefits big-time from FTX's collapse

Digital-asset exchange Binance Holdings Ltd. saw a substantial boost in trading activity as Sam Bankman-Fried’s FTX crypto empire collapsed in November.

Trading activity on the largest crypto exchange jumped by 30% last month, when FTX had a liquidity crunch that eventually led to its bankruptcy and wreaked havoc on the crypto market.

[Bloomberg]
 
Until there's a Binance scandal. Who's next in line after that?
 
I wonder how much Binance's debt / liabilities are, anyone got a link to those figures?
 
backstreetboy said:
They've got $50 billion in liquid assets. They're fine lol https://portfolio.nansen.ai/dashboa...social&utm_campaign=portfolio_binance_10nov22
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based on unverified wallet addresses that they themselves supplied

... yeah ... no ... Binance's proof of reserves is pretty laughable, which is not to say they don't have plenty or they will suddenly fold, but the way they have tried to provide proof is worthless

and then there is BNB which simply has the same stench as FTT / CEL etc
 
About a year ago I decided to move all my crypto from places like Binance, HitBTC, Poloniex and others and dumped it all in Kraken, with which I'm a bit more comfortable. For the past few weeks Binance has been mailing me every two days with offers and invitations to come back. All ignored, so far. They're aggressively chasing business and trying to suck up as much as they can after the FTX fiasco.
 
Arthur said:
About a year ago I decided to move all my crypto from places like Binance, HitBTC, Poloniex and others and dumped it all in Kraken, with which I'm a bit more comfortable. For the past few weeks Binance has been mailing me every two days with offers and invitations to come back. All ignored, so far. They're aggressively chasing business and trying to suck up as much as they can after the FTX fiasco.
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sorry what?

What exactly does that look like?

This?

1670347837454.png
1670347920456.png

I also use Kraken extensively but dont leave any amounts of significance on the exchange
 
NarrowBandFtw said:
based on unverified wallet addresses that they themselves supplied

... yeah ... no ... Binance's proof of reserves is pretty laughable, which is not to say they don't have plenty or they will suddenly fold, but the way they have tried to provide proof is worthless

and then there is BNB which simply has the same stench as FTT / CEL etc
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BNB came long after Binance itself. Unlike FTT.
 
Hmm didn't BNB started at the same time as Binance? Only BUSD came later.
 
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