Can Binance Survive in Crypto FUD?

Since the collapse of FTX, we were expecting a counter attack to Binance to put the exchange into the same position as Sam a.k.a SBF. Though today Sam was arrested, the crypto FUD did not hit Binance as far as what we have seen.

If you want to track the holdings of Binance, you can view it on Nansen. In addition to Nansen, I would like to recommend Dune analysis to those who have not heard of it before. To analyze the net flow on Binance, check Dune Analysis to see the overall results of FUD campaings.

Is it a Paid FUD?

Basically, people doubt that this FUD campaign is something that is deliberately funded by some popular figures in crypto. As you know, CZ of Binance is accused of making FTX be insolvent by explicitly selling the tokens beld by Binance.

Since Binance was one of the early investors of FTX, losing money in the collapse of the platform would not be a nice thing. However, when CZ triggered to "risky crypto" campaign that lead to the issues in crypto ecosystem, some parties wanted to hit the hunter with its own gun.

CZ was ready for it.

Why targeting Binance?

It is the most popular crypto exchange with millions of funds. In a case that Binance is insolvevent, do you think market will not be effected with its current situation?

Essentially, if a crypto exchange collapses, it also brings issues to the holders who kept their assets in the centralized exchanges. Similarly, the problems in the operations would be enough to grow the FUD waves to that they can destroy the crypto ecosystem.

It is a big No-No. Honestly, I assume that Cz took a lesson from the things happening in crypto.

Will Binance Come Back Stronger?

As a customer, I decided to drain my Binance balance by withdrawing all my assets in the CEX. While initiating the withdrawals, I did not face any serious issues regardless of the amount of money. It took 10 minutes to receive the transactions.

I think CZ is enjoying 2 factors

• He proves that Binance is solvent and "stress-tests" make them stronger
• The increasing number of clicks and trading volumes are two occasions that happen by themselves.

As a result, CZ is partially okay with the current Crypto FUD. Today we got the Consumer Price index and the whole market turned green by forgetting the FUD campaign on Binance. IMHO, Binance will save itself from this pointless FUD campaign and become stronger in the short run.

As a consequence of this dilemma, I expect a stronger Binance that is stress-tested by a couple of Billions withdrawals. I believe the price of BNB will come back to its earlier prices and CZ will be the hero of CEXs in the future.

Whatsoever happens, always put your money in your wallets and never underestimate the potential of Decentralized Exchanges that hold millions of dollars in liquidity pools.

Stay safe and patient guys.

Hive on ✌🏼

Posted Using LeoFinance ^Beta