Published on 27/12/2022 at 20:15. Many users in the crypto business worried about sharing similar experiences on different exchanges. It turned into Binance, the first cryptocurrency platform in the ranking, and this is the subject of fears about its situation. One question remains: is this platform struggling near the peak of a crisis?
Binance crypto platform plagued by a wave of fUD.
The negativity of the environment around Crypto activities has caused panic among the aficionados. After the fall of FTX, many fear their cryptos stored on exchanges. When the FTX platform collapsed, many thousand investors saw their cryptocurrency savings disappear after they blocked withdrawals. Even though the situation only concerns the exchange of Samuel Bankman-Fried, competitors suffered similar losses. This is the case of Binance, which saw a significant increase in withdrawals overnight. To protect against possible fund freezes, users took over almost three billion dollars in one day. The platform does well with all the crypto withdrawals in spite of its difficulties. Thus it would seem that Binance is a major subject of FUD. This acronym literally means fear, uncertainty and fear is known as a process often used by crypto detractors in order to turn users into suspicious users and generate false rumors and create a dangerous climate.
CZ is a president of Binance’s company and says that they are famous rumors.
On Christmas Eve, Changpeng Zhao spoke about Binances situation to clear up the rumors about his crypto business. In a long twitter thread, he turned the anger on the critics. According to him, Binance is centralized now and more. The idea of CEXs and other crypto adoptions is easy. In this logic, centralized exchanges are subject to amalgam and become subject of fraud after the fall of the FTX. Write a small book, which makes it less expensive. smear a few clicks. Under his detractors the billionaire attacks the crypto-media The Block, which we learned was secretly financed by the CEO of its competitor FTX. As I said earlier, some media pay for us FUD. Some of them are totally owned by a competitor. he adds. Moreover, he considers a huge part of the panic also originates from the fact that some have lost significant sums after the scuffle in Bitcoin and other cryptos. They losing investors would make money to exploit the platform, although it is not responsible. For now, it would seem that the platform doesn’t follow the same trajectory as FTX, but its implementation is currently undergoing collateral fears due to the unfortunate events of its competitor.
