While Binance CEO Changpeng “CZ” Zhao tries to calm crypto Twitter about their financial health and withdrawals, Binance FUD seems to take more time. Binance CEO assures customers that their funds are safe and claims these “stress tests” actually help them build trust in their customers and the crypto community. On-chain data have also indicated no FTX-like behavior. However, uncertainty in the crypto market continues to persist.

Glassnode on-chain data over the balances held by crypto exchange Binance estimates a total Bitcoin holding of 584.6k BTC. Whereas, Binance declared 359.3k BTC in self-reported Proof-of-Reserves (PoR) wallets. The difference is over 200 BTC, which is seemingly massive. At the current price, it is worth nearly $3.5 million.

(By Varinder Singh)

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