The founder and CEO of Binance, Changpeng Zhao, has affirmed this Wednesday that the withdrawals of funds by his clients have “stabilized”, after reaching a record number of transactions the previous day. However, this does not represent the end of the crypto winter: Zhao has assured that the future of the industry will be “turbulent”.
The affirmation of the person in charge of the largest platform for buying and selling crypto assets comes after Tuesday users will withdraw this Tuesday more than 1,140 million dollars in your savings. Binance went so far as to establish a “corralito” that froze withdrawals from the platform for eight hours. stablecoin USDC. Eight hours later, a tweet announced the return to normality.
Customer mistrust grew as details of how FTX worked, which became the fourth largest service a few months ago, became known. At the same time, the founder of the defunct firm, Sam Bankman-Fried, was arrested in the Bahamas.
Zhao’s efforts were focused Tuesday on setting Binace apart from the rest of the competition. “People generalize, they get hurt by a exchange and then they generalize. It’s just human behavior,” Zhao stated on his Twitter account. Another message shared by the executive tried to highlight what makes Binance different: It has more than 60,000 million dollars in reserves.
Furthermore, the Binance team has tried to highlight that not all users have lost trust. In the last 24 hours, customers of the exchange they have trusted more than 256 million dollars in deposits on the platform. This figure reaches 1,200 million dollars for the last week.
Industry analysts specify that, although the future of the platform does not seem to be in crisis, the cryptocurrency issued by Binance does suffer strong downward pressure. The BNB token, issued by Binance, has shed more than 6.5% in the last five days. By comparison, bitcoin, the industry’s most popular asset, has gained nearly 4%.
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