Binance wants to crash the crypto market and become a monopoly.
After the collapse of FTX, CEO of Bianance CZ was the first to write that the situation could happen again due to similar budget holes in many exchanges. He was also the first to post a post on Twitter saying that Binance was fully funded with reserves. By the way, the CEO of FTX SBF also wrote, but in a veiled way that FTX is not the only exchange with a similar deplorable situation.
Now for the best part. FUD started today about how many exchanges are insolvent. It started after Houbi provided a snapshot of its reserves and then sent 10,000 ETH out of 14,800 to Binance and OKX wallets. Crypto.com also sent 320,000 ETH to the Gate.io wallet, which in turn took a snapshot of reserves. That is, exchanges transfer funds between themselves to prove solvency. Of course, after this started an outflow of customers from these exchanges to Binance 🔸.
Most likely, in the near future we will be waiting for interesting news, which will be related to the collapse of another exchange or even several, it may be Gate.io, as well as conditional ByBit, you should not trust any exchange in such troubled times. And if it happens again, the collapse of the market is guaranteed.
In the meantime;
Former FTX CEO Sam Bankman-Fried, co-founder Gary Wang and CTO Nishad Singh are in the Bahamas "under surveillance" by local authorities.
Сointelegraph reports that the three former FTX executives, as well as Alameda Research CEO Caroline Allison, are seeking ways to flee to Dubai, which has "no extradition treaties"-including with regard to the United States.