Sunday, April 2, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Binance

Binance News: “Things Have Stabilized, Deposits Are Coming Back In” – CEO CZ

news by news
December 14, 2022
in Binance, Changpeng Zhao, News
0
Binance News: “Things Have Stabilized, Deposits Are Coming Back In” – CEO CZ
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit

Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why

Binance News: "Things Have Stabilized, Deposits Are Coming Back In" - CEO CZ

Binance CEO Changpeng “CZ” Zhao on Wednesday said deposits are coming back to the crypto exchange. The FUD surrounding Binance facing FTX contagion and the DOJ probe caused massive withdrawals from the crypto exchange in the last few days. The investors panicked and sold or transferred their crypto holdings from Binance.

Binance CEO reassured customers that things are now stabilized. The crypto exchange has processed more withdrawals than current withdrawals during the Terra-LUNA or FTX crisis.

The FUD Should End Now: CZ Binance

The world’s largest crypto exchange Binance on Tuesday witnessed record daily outflows worth $1.14 billion. As per data from CryptoQuant, a net of 40,353 Bitcoins and 278,017 Ethereum tokens were withdrawn.

Binance CEO “CZ” in a tweet on December 14 asserts these are not even the top 5 withdrawals that were processed during the Terra-LUNA or FTX crisis. He assures customers about the financial health of the crypto exchange and assets.

“Things seem to have stabilized. Yesterday was not the highest withdrawals we processed, not even top 5. We processed more during LUNA or FTX crashes. Now deposits are coming back in.”

He thinks the FUD brought a “stress test”, which in turn helps Binance build credibility for its customers by passing the test. CZ also suggested users to hold their coins in Trust Wallet if they want. However, he urged users to keep their private keys safe.

Binance CEO also announced doing a Twitter Space AMA today at 3:30 PM Dubai time to answer users’ queries on their funds and Binance FUD.

According to data from OKLink, the USDC assets on Binance increased from 1.26 billion to nearly 3 billion in the past 24 hours, an increase of nearly 139%. This accounts for 5.84% of the total assets. Moreover, it is reported that BUSD has been converted to USDC on a large scale to meet users’ demand for USDC withdrawals.

Binance’s BNB token soars nearly 4% in the last 24 hours, the price is currently trading at $274.

The post Binance News: “Things Have Stabilized, Deposits Are Coming Back In” – CEO CZ appeared first on CoinGape.

Related Posts

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit
24/7 Cryptocurrency News

Breaking: Binance, CZ And Three Top Crypto Influencers Slapped With $1 Billion Lawsuit

April 1, 2023
Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why
24/7 Cryptocurrency News

Elon Musk’s SpaceX To Fly 62 Bitcoin To The Moon? Here’s Why

April 1, 2023
Celsius Releases Reorganization Strategy; Finally Some Hope For Retail Customers?
24/7 Cryptocurrency News

Celsius Releases Reorganization Strategy; Finally Some Hope For Retail Customers?

April 1, 2023
Bitcoin Trades Above $28K Despite Fall Of Bittrex U.S.
24/7 Cryptocurrency News

Bitcoin Trades Above $28K Despite Fall Of Bittrex U.S.

April 1, 2023
Breaking: Binance Burns 1.6 Billion Terra Luna Classic Tokens, LUNC Price Jumps 3%
24/7 Cryptocurrency News

Breaking: Binance Burns 1.6 Billion Terra Luna Classic Tokens, LUNC Price Jumps 3%

April 1, 2023
XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit
24/7 Cryptocurrency News

XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit

April 1, 2023
Next Post
Top Crypto Gainers Today: Toncoin Price Jumps 12.06%, Bitcoin, Aptos, & Solana Also See Positive Price Movement

Top Crypto Gainers Today: Toncoin Price Jumps 12.06%, Bitcoin, Aptos, & Solana Also See Positive Price Movement

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Will Ripple’s XRP Price Pump To $1 In The Massive 2023 Rally?

Will Ripple’s XRP Price Pump To $1 In The Massive 2023 Rally?

December 23, 2022
Binance CEO “CZ” Views On 2022 And Predictions For 2023

Binance CEO “CZ” Views On 2022 And Predictions For 2023

December 28, 2022
Robinhood Faces US SEC Subpoena For Its Crypto Operations

Robinhood Faces US SEC Subpoena For Its Crypto Operations

February 28, 2023
Breaking: U.S. Core PCE Inflation Surges 4.7%, More Interest Rate Hikes Ahead?

Breaking: U.S. Core PCE Inflation Surges 4.7%, More Interest Rate Hikes Ahead?

February 24, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In