FTXWhile the effects of ‘s bankruptcy and former CEO SBF’s statements still continue in the crypto money market, the first day of the week is the largest cryptocurrency stock market to Binance Claims that a lawsuit could be filed caused more uneasiness in the market.
While investors withdraw their money from the stock market in case Binance, like FTX, goes bankrupt, Ki Young Ju, CEO and co-founder of CryptoQuant He evaluated the possibility of Binance going bankrupt.
Stating that people have asked him if Binance is in good standing, CryptoQuant CEO shared on-chain data on Binance’s reserves.
Ki Joung Ju, who examines Binance’s assets to question whether the exchange has solvency and whether it is resilient and ready for another big exit wave, said Binance’s Bitcoin (BTC) He said that although its reserves have dropped 8% in the last two days, it has increased 24% since FTX’s bankruptcy.
“People ask me if Binance is good.
Binance’s Bitcoin reserves have dropped 8% in the last two days, but have increased 24% since the FTX bankruptcy.
There may be things that need clarification for regulation, but for now I don’t see any suspicious on-chain activity.”
Clarifying Binance’s Ethereum reserves, Ju stated that the number of ETH in the wallets of the exchange has increased.
Finally, comparing FTX with Binance stablecoin reserves, Ki Young Ju said that Binance stablecoin reserves decreased by 93% on the days FTX went bankrupt. stablecoin He stated that it looked more organic than its reserves.
Ki Young Ju ends his post on the Binance vs FTX comparison “I have no affiliation with Binance.” added the note.
People are asking me if @binance is fine.
their $BTC reserve dropped -8% over the last two days but +24% up during the FTX bank run last month.
There might be things to be clarified for regulation, but I don’t see any shady on-chain activities for now.https://t.co/66yVQG2idc pic.twitter.com/gK8iJmCZxQ
— Ki Young Ju (@ki_young_ju) December 13, 2022
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