{"id":526446,"date":"2022-12-14T00:45:00","date_gmt":"2022-12-13T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-community-members-discuss-bank-run-on-binance\/"},"modified":"2022-12-14T00:45:00","modified_gmt":"2022-12-13T21:45:00","slug":"crypto-community-members-discuss-bank-run-on-binance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-community-members-discuss-bank-run-on-binance\/","title":{"rendered":"# Crypto community members discuss Bank-run on Binance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26e02a142da\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26e02a142da\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-community-members-discuss-bank-run-on-binance\/#%E2%80%9D_Crypto_community_members_discuss_Bank-run_on_Binance_%E2%80%9C\" >&#8221; Crypto community members discuss Bank-run on Binance    &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_community_members_discuss_Bank-run_on_Binance_%E2%80%9C\"><\/span>&#8221; Crypto community members discuss Bank-run on Binance    &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvYWY0ZTQzMDEtN2NlMi00OTZkLThjZDUtMTU4ODI1ZmE4ODllLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Within the past 24 hours, the Binance cryptocurrency exchange has seen outflows of over $1.14B due to rising fear, uncertainty and doubt (FUD) within the crypto ecosystem.\u00a0<\/p>\n<p>According to Binance CEO Changpeng \u201cCZ\u201d Zhao, the exchange has seen this before and believes \u201cit is a good idea to \u2018stress test withdrawals\u2019 on each CEX [Centralized Exchanges] on a rotating basis\u201d.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us.<\/p>\n<p>I actually think it is a good idea to \u201cstress test withdrawals\u201d on each CEX on a rotating basis. <\/p>\n<p>1\/2 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uF9lLPDSyS\">https:\/\/t.co\/uF9lLPDSyS<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1602676998094069760?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The bank run on Binance comes\u00a0a month after, the Binance CEO triggered a bank run on FTX, which led to the its\u00a0liquidity issues, and eventual\u00a0collapse.<\/p>\n<p>Despite the FUDrampant within the crypto community, members remain optimistic that Binance will weather the storm, and will not share the same fate as FTX. While others speculate that if Binance goes down, the entire crypto industry might be brought to its knees.\u00a0<\/p>\n<p>Bitcoin millionaire Carl Runefelt opined on his <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account that; \u201cIf Binance collapses we\u2019re all fucked.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If Binance collapses we\u2019re all fucked <\/p>\n<p>\u2014 Carl From The Moon  (@TheMoonCarl) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheMoonCarl\/status\/1602600059056652288?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Author and Bitcoin enthusiast, Layah Heilpern, shared: \u201cYou realise if Binance goes down everything else will crumble? Yes #bitcoin will survive but the entire crypto ecosystem including stablecoins will die.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I don\u2019t understand why people are cheering for Binance to collapse.<\/p>\n<p>You realise if Binance goes down everything else will crumble? Yes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> will survive but the entire crypto ecosystem including stablecoins will die.<\/p>\n<p>\u2014 Layah Heilpern (@LayahHeilpern) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LayahHeilpern\/status\/1602628489794191360?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Twitter account holder Crypto Cognac shared that Binance going down wouldn\u2019t do the space any good, as it would send the space \u201cback to the stone age.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If Binance goes down it won&#8217;t do any good for this space. Back to the stone age. Binance is my #1 exchange. I believe that Binance is fine and this is a coordinated FUD campaign operated by entity that wants crypto to fail.<\/p>\n<p>\u2014 Crypto Cognac (@CognacCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CognacCrypto\/status\/1602697457477074945?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Twitter account holder Timverse said they believe that if Binance became insolvent, it would \u201cset the industry back\u201d by years, however, crypto would survive because \u201c Crypto has been here way before binance came to existence &amp; it will be here thereafter.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance going insolvent will definitely set the industry back by some years I agree on this.<br \/>But will the crypto industry dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear.. no I disagree.<br \/>Crypto has been here way before binance came to existence &amp; it will be here thereafter<\/p>\n<p>\u2014 Timsverse (@Timsverse) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Timsverse\/status\/1602698879480336384?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Crypto Analyst and Government advisor, Del Crxpto accused crypto media outlets of promoting the FUD against Binance sharing, \u201cThe media are trying to cause a bank run on\u00a0binance. In the last several weeks they have attempted to push several narratives to this regards, with the latest being that\u00a0binance did not pass an audit. The fact is, time is the #1 audit and\u00a0binance has proven the test of time.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The media are trying to cause a bank run on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a>.<\/p>\n<p>In the last several weeks they have attempted to push several narratives to this regards, with the latest being that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> did not pass an audit.<\/p>\n<p>The fact is, time is the #1 audit and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> has proven the test of time.<\/p>\n<p>\u2014 Del Crxpto (@DelCrxpto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DelCrxpto\/status\/1602644457538654209?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: Abnormal token price movements on Binance not hack-related, confirms CZ<\/em><\/strong><\/p>\n<p>On Dec 11, Cointelegraph reported that Binance&#8217;s proof of reserves raised red flags for accounting and financial specialists, and had been labeled &#8220;pointless&#8221; by rivals, as it failed to include liabilities.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-community-members-discuss-bank-run-on-binance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto community members discuss Bank-run on Binance &#8220; Within the past 24 hours, the Binance cryptocurrency exchange has seen outflows of over $1.14B due to rising fear, uncertainty and doubt (FUD) within the crypto ecosystem.\u00a0 According to Binance CEO Changpeng \u201cCZ\u201d Zhao, the exchange has seen this before and believes \u201cit is a good&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/af4e4301-7ce2-496d-8cd5-158825fa889e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74860,74880,74355,73711,4965],"class_list":["post-526446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-transactions","tag-adoption","tag-investments","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526446"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526447"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}