Within the aftermath of the FTX collapse, Forbes printed an article that centered on the current “shuffling” of funds by the cryptocurrency change Binance.
Nevertheless, the next day on Feb. 28, Binance co-founder and CEO Changpeng Zhao (CZ) took to Twitter to sort out the FUD. In response to the article, the CEO mentioned:
“They appear to not perceive the fundamentals of how an change works. Our customers are free to withdraw their belongings any time they need.”
In his sequence of tweets, he addressed numerous claims from the Forbes article. This included what it referred to as a “backroom maneuver” when Binance transferred $1.8 billion in stablecoin collateral to hedge funds comparable to Tron, Amber group and Alameda Analysis between Aug. 17, 2022, to early December.
They referred to as out Tron, Amber group, Alameda Analysis, and so forth. They appear to not perceive the fundamentals of how an change works. Our customers are free to withdraw their belongings any time they need. Their withdrawals are became “obtained lots of of tens of millions of shifted collateral.” 2/
— CZ Binance (@cz_binance) February 28, 2023
In gentle of the motion of funds, the article drew parallels between Binance and the now-defunct FTX within the lead-up to its personal demise. It additionally touched on the failed Voyager bid by Binance.US and the current ordeal with Paxos and BUSD minting.
This can be a creating story, and additional info might be added because it turns into obtainable.