Bitcoin Forum

Due to the amount of bad news coming out about Binance people are panicking. Based on this report,


So I think he's higher now, because of what happened with Ftx, People don't trust the centralized exchange. And now it's the grass of FUD on Binance, Even though we think they are solvent as a matter of fact their assets are at 97% collateral which is a good number. There are also news that have come out

The CEO CZ is also included in this article, actually this investigation they are doing in Binance started in 2018. So it has been a long time, maybe we still need to gather a lot of evidence. But binance has an answer to this, because the news media spread this news and Binance said that their information (REUTERS) is wrong because,
And Gambaryan also said (He is the Global head Intelligence and Investigation of Binance)


And another thing that added to the fear was the withdrawal of Justin Sun.


However, people because of the amount of bad news they hear about binance will think that maybe the whales are fleeing, because there is an issue with binance, that's how it used to be.

And Lately, to calm the crypto market fear Justin Sun deposited 100M$ in binance again.


So, this is another Fud that the critics just magnified. What do you think?

---

Reference: https://www.coindesk.com/markets/2022/12/13/binance-withdrawals-surge-as-concerns-about-its-reserve-report-spook-traders/
Reference: https://www.coindesk.com/business/2022/12/12/us-prosecutors-look-to-charge-binance-and-cz-for-possible-money-laundering-violations-reuters/
Reference: https://www.coindesk.com/markets/2022/12/13/justin-sun-looks-to-calm-crypto-market-fear-as-bnb-falls-8-withdrawals-continue-on-binance/

If the POI of Binance of 1:1 is true, there shouldn't be any problem with funds while people are withdrawing their money. For now, this allegation against Binance needs proof.  Unless the evidence is founded, these are just an act of pitchforking Binance and FUD'ing its ecosystem to crash the Binance market.  It is quite interesting, I think someone is behind all of these incidents.

With regard to the money laundering case, this is just a plan of US prosecutors but hasn't been filed because they need solid evidence for this.  This makes me think, is this a counter on the backing out of CZ to support the now collapsed exchange FTX?

Just try to analyze if its a FUD or the real scenario now, Binance is also exposed to FTX as far as I know but since they have a better financial planning, they managed to stay on a good position. If this is another attack from whales trying to destabilize a good exchange then we should be more careful now, and Binance will face a big challenge here. Again, we should not hold huge amount of money on any exchanges, the bear market right now is still powerful and if this news becomes worst, we should expect the worst as well.

Binance is centralized and that's why many are starting to panic when there's bad news about them. What if before the bad news Binance starts to halt withdrawals? Well, that's the real thing but so far, this is just to make a FUD and if the thing is real, Binance will handle it for sure.
Everyone is starting to learn their lesson that no exchange is safe whether it's the most popular and populous exchange, they can't avoid any FUD that will be spread against them.

The recent audit on Binance carried out Mazars also added to the loss of confidence by investors. Mazars couldn't vouch for Binance's reserves and the methodology used in carryout the auditing was not revealed. Customers are beginning to loose trust in this exchange company because they feel Binance is covering up or hiding some of its financial standings. Yes the company has declared that it is financially sound and Binance has also proved over the years to be a pathfinder in the cryptocurrency exchange market but that was the same news we heard before the collapse of FTX. For them to build back the trust clients have in them, there financial standings should be open and not shredded in secrecy. Lets hope that Binance would overcome this this big challenge.        

When Binance exposed FTX, it's expected that they also faced the same issue because Binance is relatively the same on FTX because they are the same centralized exchange.  This is a big challenge for CZ on how he will solve this, it's natural to have FUD especially if this is true, we have easy access the social media where we also gather legitimate news.

The war of centralized exchange and its drama will mak people awake not to leave their assets on exchange, so look at now, people keep withdrawing their money on Binance.  Recently, Binance exposes to Coinbase withdrawal and now, Binance also faces the same on Coinbase before.  It's normal IMO in a centralized exchange.

That's an important matter that CZ has brought and having his exchange audited and the auditing firm itself can't vouch for them really sounds awful.
I think that they'll be able to overcome it. As long as you've got billions of assets that you can liquidate at any moment and sell for cash and then use it to clean your reputation, that's possible.
They're a big company and talking about good reputation, that's what CZ wants for his ventures.

Prevention is better than cure. If nothing will lose to you on transferring your funds to your personal cryptocurrency wallet, then all good, it's okay to follow these rumors FUD about Binance.
I already did withdraw some of my funds on centralized exchanges, not only from Binance.
If you are using Binance or another centralized exchange for some stake with APY, Decentralized Finance (DeFi) could be also your friend and you can use them.

There are many fud against Binance, after Kucoin and Crypto.com exchanges.

I believe we are witnessing a fud wave against exchanges respectively one by one. Kucoin after fuds, is still operating well. Crypto.com is fine but need more time to verify.

Binance is a newest exchanges under fud attacks. Latest days, I read news about Binance and there are not enough information for me to consider they are legit or not legit with their statement.

Their audit with AuP (Agreed-Upon Procedure) is a short procedure for audit with agreement between customer and audit company about what point the customer want to be audited. It is a partial audit and not full audit. However it is one of procedures can be used for auditing.

97% or 101% is not much big different but it has been exaggerated to attack Binance.

I will wait for more information in coming weeks but it is good at the moment to avoid storing money on exchanges, not only on Binance exchange.

The current panic is still going on and I believe in Binance's ability to handle the crisis. But the criticism of centralized exchanges cannot be ignored. But people often only have 7 seconds of memory. When they saw @justinsuntron’s tweets, the market warmed up a little bit, and people’s panic seemed to disappear instantly.

I don't think there's anything wrong with people withdrawing their funds from Binance, it's something that should've been done much earlier on imo, FTX just painted it in a bolder color. I reckon as long as Binance is pretty honest with what it does and the funds are obviously used to what they're supposed to be used for (and not for), they should be fine in the long term. That is unless someone finds some solid evidence of something wrong, like in the case of FTX, then you can probably expect a big impact on the scene, considering how big Binance is as an exchange.

what has happened to FTX provides an important lesson for any holder of large assets not to keep their money in exchanges. withdrawals that occurred as a result of the large amount of FUD currently associated with Binance. and the response to large withdrawals is of course a whip for those who still put their money on the exchange.
Of course, some users are afraid that what happened to FTX also happened to Binance. that's what made this little panic happen.

I don't think anything is wrong with the withdrawal in binance. Traders and investors may want to play safe by taking out their coins with the recent crash of FTX that many people have blamed those leaving their coins at the exchange. It is already a lesson learnt and some hodlers in FTX who still have account and coins in binance may not want to take another chance. Again with the festive period of December, we can expect some kind of rush.

Well, that's how the market works these days. If there's someone known in the community, they'll start to panic or calm down depending on the response that's been disseminated.
What if there are other popular personalities and added to the FUD, for sure that everyone is nowhere to go but to withdraw as fast as they can because that's what they believe as the sign of Binance's falling.

It seems it has become a trend to attack centralized exchanges so that people lose faith in using them to trade, invest or even store their coins. Is this happening on centralized exchanges or just negative news deliberately spread by irresponsible people because they want to see the crypto market crash? Even centralized exchanges like Binance were hit by the news and showed evidence of funds going in and out of the exchange. If people don't look for clearer information, this can make them panic and they will withdraw all their funds on all exchanges and this can result in the loss of confidence of investors and traders in playing a role in the crypto market.

It looks like Binanse did an excellent job with the test, ensuring uninterrupted withdrawal on customer demand, which was a consequence of FUD. And after this FUD disappears completely, Binance will receive even more traders and, accordingly, even more funds that will be transferred from other cryptocurrency exchanges.

So far, they are doing well, indeed the last few days there has been a lot of hype around binance, but as we can see, nothing terrible has happened. And if everything ends well for binance, then this will eventually be a positive moment for them, because they will prove in practice that they could cope with the withdrawal of any volumes.

I wouldn't be surprised because people are trying to make the Binance like the FTX which would unlikely to happen, even after the fall of the FTX and Bitcoin we can see that the BNB and Binance are still strong as we know the ecosystem of BNB is much different than the FTX.

Fuds are fuds but facts are still facts, nothing can beat the fact that Binance is one of the good projects we have after the Ethereum and compared to Dogecoin.

There is a lot of FUD and investor panic surrounding Binance after suspending USDC withdrawals, and Zhao responded that the temporary halt in withdrawals was due to the fact that some currency swaps had to be routed through an unidentified bank in New York that was not open. In my opinion, there is no need for all this panic, when withdrawals have been resumed, I see that the situation is different from FTX, so what happened to Binance is not in any way similar to the FTX platform, and Binance has sufficient reserves to cover customer deposits and $ 60 billion protects Binance from bankruptcy, for me I prefer to keep my currencies on a cold wallet, and only at the time of trading, I transfer it to Binance, so I am reassured.

This is a good chance for Binance to prove their worth and their strong support system, they are very genius when it comes to handling their crypto work and securing the site will always be their top priority aside from going all over the country. This FUD will surely make Binance more reliable and most trusted crypto exchange, but I agree on not putting too much money on exchanges and still advisable to have your own wallet. Binance should also assure the safety of the funds after making such big withdrawals.

Let me quote myself:


As for Justin Sun and his supposed 100 million deposit, just lol. Remember this?
Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX (https://www.coindesk.com/business/2022/11/10/without-details-trons-justin-sun-says-hes-putting-together-solution-for-ftx/)


So, you have faith in the guy that said he has faith the situation at FTX was manageable?
Then label me an unfaithful infidel!

What can cost you to pull your assets out of Binance if nothing happens? 5$!
What will it cost you if you don't withdraw and the FUD is not FUD at all? Everything!
Not so hard to choose, isn't it?
The whole thing about Bitcoin is to be your own bank, not CZ's boot licker.

We can say that FUDs are useless but guess what, this sometimes gives us information and awareness also. We can never tell if this news and reports are fake until we research. In some instances, this has already been made to ruin someone and Binance is one of the big exchanges in which I see this is a part of the competition. But yes, we can't also neglect the possibility that Binance did something wrong, we never know until someone from inside will have the courage to tell in public.

Whether it was FUDs or that is true, we still need to be careful in using exchanges, and put FTX as an example.

Withdrawal from exchange's wallet doesn't need to be considered as FUD, its a good thing is happening after the collapse of FTX but about the lawsuits and security related issues Binance is doing pretty well so nothing to worry about that part but did they involved in money laundering I hope not because they are already the biggest cryptocurrency exchange so they are making more money from actual trading itself if I am not wrong.

There are some speculations that some whales and known big investors are pulling up their assets on Binance to make FUDs but we can never know what is behind their actions. If they are trying to dump the value of BNB and hoard them while traders are having a panic on selling it

Having this kind of news can really affect the value of BNB but also can be taken advantage of, as we traders only buy on-trend.

If the traders are concerned about BNB then they could opt for stop loss like 10% but this is the strategy by whales all the time so nothing really new to be worried. But for me staying away from BNB or any assets value which highly depends on the reputation of others will be a wise choice.

It's not wrong to withdraw a fund out of binance or any other exchanges because people don't came in crypto for nothing but they invest to earn. Even if it's not a bull season, we are now in crisis and people might need money so they will still sell.

For those who don't need money, storing some money in trusted a exchange like binance are still fine but they should always be vigilant and always track the platform so that they can do an immediate action before the worse has yet to come. We shouldn't be affected on what we hear on the news because not all of them are true but some them are only a FUD, trying to scare the people more and tries to destroy the reputation of other innocent exchanges.

For the safety of every holder, they should never have to keep their fund longer in the exchange even if it was a reputable exchange. They can be trusted in some other way but when it regards storing our funds with them for a long time, we are taking a higher risk which is highly not advisable. 
Despite the connection of Binance to FTX many people still use this platform but I'm sure they are not much careful. It really changes a lot and FUDs are certainly winning this time but I don't think Binance will collapse just for this.

Yeah, I believe that it will happen. They just did it the way it is when there's a FUD. The price of their BNB went down because for sure, there's a correlation with the FUD.
But still, this has normally happened and it will still be good as it is again because they'll just have to cater the customers demand, whether they're deposits or withdrawals.

I really don't expext so much FUD is  kw spreading not only to the shit projects. But the main targget of the FUD is the top and big platform. Ut was FTX and bow it is Binance. I don't know what will happen to the centralized exchanges if a top exchange like Binance is also crashing
 

Well they started the fire that trigger people to withdraw their assets on exchange, they exposed FTX, and they also exposed Coinbase doing so what people expect is that they are the same because they are the same in a business. The competition of these centralized exchanges was still going on and now they are affected by what they are doing. This FUD that the made is a good advantage to the people, they are now realized that leaving their assets in a centralized exchange is very danger so they are rushing to pull them out of the centralized exchange.

Well, it all started since the beginning and everyone in this industry is here to earn money, lots of money.
There's nothing wrong in doing that and even admitting it, what matters is how they do it. Let's say what you think is true ATM, and it's all FUD, then it's all good.
What will happen when it turns out to be truth? It'll be a nightmare for almost all of us because after the FTX shit, we all got our eyes stuck on Binance because we thought that their PoR thing is about to bring some transparency, still there are some disputes rising about their facts and figures that CZ has produced in public. Don't blindly trust any exchange and only keep that much money over there which you can afford to lose. We used to say this for any gambling or other niche websites where there are chances of either the owners taking away your money and scam you for no reasons, be it account blocks or something else. But now, I believe that this statement belongs to exchanges as well.

As much as I'd like to disagree, you're right. FUD or not, it practically costs nothing to withdraw money to a non-custodial wallet. The risk of anything happening is far greater than the cost of the transaction. I honestly don't understand where all this FUD regarding Binance is coming from; I also read FUD regarding a Tether crash, but nothing has happened. I understand that people are a lot more frustrated and worried after the FTX bankruptcy, but I honestly believe that Binance is unlikely to have the same fate. Cryptocurrencies will take a massive hit if Binance crashes, and nothing will ever be the same again.

The market will realize that DEX are more safe compare to CEX, and with this FUD issues of Binance they should handle this professionally and act right now before its too late. Binance have to prove that this is just a FUD to avoid panic. Many are attacking CEX because of what happened to FTX or maybe they really see something bad on the current system of Binance, hard to know this one.

I've seen this in the past and it's unavoidable since it's the bearish trend when everything seems so down all you have to do is do the opposite of what the others been doing. Binance has a lot of altcoins/tokens and most of their coins are subject of pump and dump coins and which is not focused for long term investment. It's normal to see such dumping since investors are trying to save their investment to sell whatever they can if the price is dropping.

So far everything has worked out great. I've seen many times  what happens when people leave the failing exchange. They close withdrawals because "maintenance". Causing people to panic even more. So i think binance has handled this fine. However If binance goes down, everything goes down with It.

FUD(s) are just rumors if they don't have proofs, and don't store your money in an exchange no matter what, especially when you're in doubt, simple as that. Binance is a good exchanger, I must say that, but it is important to always know how much you're willing to risk by trusting them on your funds, because everything might gone wrong, that's why don't get too comfy about your funds are safe in any exchange, because it's not.

FUD is an abbreviation of Fear - Uncertainty - Doubt. It can be a real news or a fake news but if that news can cause either fear, uncertainty, doubt in news receivers, it's fud.

Binance have very large storage of stable coins, a largest part, among all cryptocurrency exchanges at this moment. Their storage including customer money, is very bigger than other exchanges. Any problem with Binance treasury will cause a super terrible collapse of not only Binance, but also all cryptocurrency market.

From Binance audit, it seems they are fine regardless of their audit report was cooked which I don't believe they and Mazars did it.

Then we can say that whatever happened to this exchange will have a huge impact on the crypto industry and could possibly ruin everything. If their Binance audit is true with their records, maybe we can say that we are safe but still, it is a need for us to be careful. I'd see the safest way is to keep our coins in our controlled wallet. 

FUDs are sometimes created to ruin someone who has a good market reputation but sometimes also this will help us to assess if that exchange(s) can really be trusted or not.
https://beincrypto.com/binance-failure-would-cripple-crypto-industry-but-users-back-cz-despite-fud/

I am not claiming that Binance will never crash, but I also want to say that FTX crashing doesn't mean binance will crash too. The collapse of Mt.gox does not mean that coinbase or bitfinex, the exchanges that were born at the same time as Mt.gox, will also collapse.

Recently, withdrawals on Binance were at a record high, but everything went very smoothly and no investors had problems, so it can be said that this is a pretty dirty FUD from Binance's competitors.

I don't leave money on Binance, but I don't believe that Binance will be in trouble at this point, they are doing a great job as the top exchange in the market. Many people say FTX is the 2nd largest exchange, but I never used it until it died.

after FTX collapsed, FUD news for certain markets (including binance) seems to be trending right now.
because after FTX bankruptcy some people no longer trust centralized exchanges and those who are skeptical will always spread bad news about some big market.
for me this is something natural. because the loss of faith in a centralized exchange will remain in memory for a long time and those who suffer heavy losses will go crazy and can become a factor in the spread of FUD for binance.

Binance was been target with fuds over the years and not surprising to see another one like this because maybe some organization just got worried about if it will go the same with FTX which stole a lot of money from its user. Also normal to get more fuds as this exchange is so successful so I guess there are just people want to destroy or just trying to see if what they do can affect peoples decision towards their trades.

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames (https://twitter.com/DesoGames) , i've never heard of this guy so far , but he seems to know what he's talking about .

Binance may never crash, but it may fall victim to an exploit or a hack. In this case, I'd want to believe that they would compensate their users, otherwise, their reputation would soon shut them down. In my opinion, exchanges are generally safe, but they're not meant to be cryptocurrency storage. What happened with FTX is saddening, but I highly doubt that we're going to have another exchange crash. Supposing it happens, it would cause massive market issues, and cryptocurrencies would no longer be the same. Whether we like it or not, centralized exchanges are an irreplaceable part of the market.

^If this will happen, there are a lot of people or traders who will cry, and the whole crypto industry image will destroy because that is a scam and sure BTC price will also be affected. There is a lot of humor that I heard about CZ and yes, possibly of a scam, but this accusation which I don't believe until when there is Binance successfully operates in this crypto market field. I don't know either if this is a FUD or a reality, look at people get panic about what CZ said, and now they start moving their BTC into the noncustodial wallet, and CZ pointed it out to the Trustwallet which I don't trust.
However, this fear of the people has a good outcome for us, because we learn to hold our coins under our custody and not use a third-party exchange.

It is FUD until proof is given out.  Another thing someone that is paid by SBF of $15m is pointing the blame of FTX collapse to Binance. I do not know if the statment of this person caries a weight because it is known that this guy has been paid $15m as spokesperson of FTX.  I wonder why it is Binance fault that FTX collapse.  Binance just wanted to get its money back that is originally their before it is invested to FTX shares.  Besides I think it has been a year and half ago and FTX had been spending billions of dollars after that incident.

Lots of FUD but better safe than sorry.

How much effort is it really to just cold storage your crypto?
Leaving it on an exchange with warning signs doesn't make any sense now, unnecessary risk.

Just to add some spice to the FUD news. Kevin O' Leary also said that Binance put FTX out of business and in addition to that, he wanted to emphasize that Binance is a massive UNREGULATED monopoly right now.

Seems like it will cause a huge impact to the BNB specially to the exchange itself. I am looking forward if there are big news about binance for upcoming days. If there is, I think it's time to get my investments in binance and put it on my cold wallet.

Anyway, here is the link:

https://fb.watch/hs_HqTdanC/ (https://fb.watch/hs_HqTdanC/)

Most people don't care about cold storage or hardware wallet since they're think Binance has SAFU that will cover all losses just like banks, while actually there's no transparency about Binance's SAFU and it's not cover all the losses. Especially CZ have give misleading information if storing your crypto or Bitcoin on hardware wallet increase the risk of lost it all since people usually forgot about their seed phrase. Although it's partially correct but it's a user fault and they can prevent it if they've learn to safely write their seed phrase on steel plate.

    -  Until now, there is still a lot of FUD spreading in binance, one of which is the mainstream media that interviewed him live at a broadcasting company, where the questions seem to want to embarrass CZ in the audience, although the question has a point. to Cz.
 
Even the other critics who are politicians also let it be known in an interview that binance is to blame for why FTX was closed, even though it is obvious that there was a violation.

But even though the issue facing Binance is big, they know they can handle it and overcome it. Maybe that's normal when a tree bears a lot of fruit so a lot of fruit is thrown.

The collapse of an exchange is like the bankruptcy of a business, it will affect some people but not kill the market. I believe there may still be other crashes in the future, but everything will be fixed, and the market will still grow.
Many people compare FXT with binance, but personally, I find the difference quite large, FTX is too small compared to Binance.
If you look at the rankings of exchanges, you can see that Binance's trading volume is the largest, and Binance's volume is equal to 10 other exchanges combined. Shows how reputable they are in the market.

FUD or not, this is what we actually want, no? The withdrawals from Binance is nothing but another celebration of the Proof-of-Keys Day every year, during January 3, without that day being during January 3. 8)

It's probably not what everyone wants, and it's probably a cause for panic for some, but with that, it's also a test if the exchanges' "100% user deposit reserves" claims are true or not.

I agree,as long as people withdraw their majority of the coins from the exchanges is a win situation for them and leave only the amount needed for trading,you cannot use Binance no matter how trustworthy they maybe to conserve your coins,Binance still remains a third party and over a third party we have absolutely no control whatsoever.

The only people panicking are the ones who do not take the time to learn how to keep their cryptocurrencies 100% safe in wallets where they have the private keys or in hardware wallets and sooner rather than later they learn this the hard way.

Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

The people who withdraw though are going to lose the chance to invest in coins that are bottoming. When Binance proves they are solvent and not doing something just like FTX, Binance will arise victoriously.  It seems like they are pressing CZ way beyond what they ask of SBF and making it look like it's CZ's fault for FTX bankrupt.

SBF said to Oleary that he paid about 3B to CZ two years ago which is the reason for their insolvency. Saying this means FTX was already insolvent for 2 years. Clearly, they have the intention to scam investors. But Oleary instead uses this to pin Binance.

That's what we know and what we've been told but I think Binance can really put up a good fight here from critics. I still believe they really are a trusted exchange and this is not the first time Binance received such recognitions of FUDs.

You're wrong on that notion, remember there are still liquid decentralized exchanges out there that list these tokens you're saying is bottoming out. Fees these days aren't that high anymore unless we see a surge of demand for acquiring these tokens at the same time, it could have gas wars.

There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

Safest word is ironic to attached on CEX even with Binance since you didn’t have your keys to your coins once you deposit in there. You risking your money once you deposit it on exchange wallet so I don’t find using the word safest relevant for an exchange that doesn’t give you the full control of your assets.

The whole discussion here is about the FUD on Binance itself and not on the effect of FUD on traders inside the Binance. The trading feature is really risky if you didn’t knew how it works but what more risky is when you store your coins inside Binance.

I think this is just a strategy and spread FUDs for people to go panic, this kind of news really affects the cryptocurrency value even though it is just an exchange but still has a huge impact. People nowadays are depending on the news even though it's just a rumor or fake article and just go with the flow if it will go up or down.

Looking at the BNB chart, you can see that the price is still in a bullish trend, despite the fact that almost the entire market is in a bearish one. This correction should have been there anyway, and all the negativity around the Binance just serves as an excuse for this correction.

I think it is mostly a fud and an effort to birng down the world biggest exchange binance down. Remember it is believed that it was CZ who is responsible to tweet about FTX and which caused the collapse of FTX. It is also thought that binance wanted to rule out the competitor and he did it in a most efficient way.

Now the American exchanges want to take revenge from binance and they want to take binance down. Due to this fud, people are withdrawing funds but binance is able to process the funds and till date there is no panic situation.

I dont know if its between "FTX or Binance" or it is between the "American Exchanges Vs the Asian exchanges", but in the end it is good for the crypto investors and they realized that these central platforms are not safe and we will never trust CEX. Hopefully it will increase more demand for decentralized exchanges.

The risk will decrease when you have transferred all assets to your personal wallet. The FUD that binance is experiencing is actually something to be expected since FTX collapsed, binance is sure to have an impact where the critics will clearly be against it.

We don't know who will be the mastermind, but perhaps some of the people behind FTX can counter-attack binance regardless of whether they are paid or should be. As a result, the market is getting weaker where red candle was seen in the last day. The impact also occurred on bitcoin, after touching $ 18K+ now bitcoin is trying to test how strong the $ 16K support is. Hoping for the best for the rest of the year, I will be ignoring binance FUD and still trying to focus on investing.

What exactly is the security of binance, why do you say that it is safe? Any centralized exchange carries certain risks, and the main ones are inherent in absolutely all exchanges. The FUD does not deprive traders of profits, it is just a manipulation that the exchange faced, we will see whether it copes with it or not. This is the world of big finance, where business sharks eat each other, the strong will survive, the weak will go to the bottom.

Binance has their version of security whereas for us there is always a certain risk even though they already have strong security, an example is FTX which crashed overnight because it is not guaranteed even though they say the centralized exchange is safe it will have repercussions later if we are not careful with any exchange.
FUD only brings bad news to crypto and this will attack those who are not mentally strong and don't believe in manipulation, so this is not depriving them of profits but they panic and change their own minds.

FUD will always exist, let alone Binance, even Bitcoin is still in the environment FUD was created. What happened to Binance today is inseparable from the fall of FTX some time ago. Maybe these are different events, but if you look at what happened, there is a connection. In fact, we should have been alert even before what we heard about Binance today. Things like this don't make us panic that causes us to make the wrong steps.
The demise of FTX also has many roles played by the CEO of CZ, and that will invite many who don't like binance to come and create FUD.

I am quite happy to be buying up bunch of BNB with my bitcoin these days, its been great and I feel like as long as this keeps up, I will keep doing more. What people do not understand is that as long as Binance provides proof that they are doing fine, nothing should be a trouble for them, sure you could have FUD and you could have people withdrawing and all that, but if in the long term they do not have any problems, then its going to be fine and it will go back up. Right now there is a doubt, and that doubt is the reason why its like this, but when doubt is gone, we will do a lot better for sure.

I agree, that's why I am seeing different ads of binance across the internet, maybe they are trying to make binance more powerful exchange among all other exchange and might be those people who lost their trust since FTX could be the new traders of their exchange. Since I remember what happen to FTX I keep  in mind that we should not store high amount of money in digital exchanges and wallets.

Binance is already the most powerful exchanger or trading platform in Cryptocurrencies world. And they are trying proof themselves to people that they will not effected like others exchanger incident. I think it's good strategy to make more powerful them . But at the end I will say risk is every where in crypto industry so investment there as you can afford to lose . And for storing or holding crypto it will be best to use cold wallets.

I have to disagree with you. Binance is one of the largest, if not the largest, cryptocurrency exchanges out there. The reason the market would collapse if Binance crashed is simply because it holds up to 60% of cryptocurrency derivatives and is accountable for up to $1.5 trillion in trades just in November. FTX was one of the largest exchanges as well, but it was nothing compared to Binance. FTX put a decent dent in cryptocurrencies nonetheless. If something similar happens with Binance or even Coinbase, we'll be doomed.

It's true that Binance is huge, and as I said, it's bigger than 10 other exchanges combined, but that doesn't mean it's the heart of the market. Binance has only been around since 2017, and the market has appeared before and also developed without Binance. If it falls, we will return to the beginning, we will have to start over, but not to the point of dying with it.

Binance is part of the market, not the crypto market is part of Binance. I am one of those who do not believe that Binance will collapse, but I would not believe that it is the only lifeline of the market.

if the FTX incident occurs on Binance, cryptocurrency will be even more destroyed and it is possible that the Bitcoin price will crash to touch the price of $ 10k or maybe below. holding up to 60% of cryptocurrency derivatives is certainly the largest centralized exchange today.
Binance seems to be the main target this time around with lots of buzz going on. this is all due to the lost trust due to the FTX incident which made investors reluctant to leave their money in centralized exchanges. But let's hope Binance doesn't suffer the same with FTX, it's just FUD made by those who want crypto to be cheaper.

Of course Binance would be involved in the FTX case, but people's fears about a possible catastrophic crypto crash could still be expected to be something that doesn't happen. As the biggest exchange, I think Binance has a way of neutralizing things to be more conducive but, no one knows what will happen to them.

If Binance crashes, that FUD of course will cause a massive crypto market crash and there's no stopping the panic until bitcoin and all other crypto assets lose a lot of value. I didn't expect that, stay positive.

It's not the heart of the market, but it's a vital and irreplaceable part of it. While it's a relatively new exchange, just like you said, it has quickly acquired a huge customer base and holds the majority of cryptocurrencies out there. Cryptocurrencies won't disappear if it crashes, but it'll have detrimental effects on the market and destroy their reputation. Investors would shy away from cryptocurrencies, and I wouldn't blame them; such an impact would have lifelong effects.
Certainly even further below, more like $4.000–$5.000 Binance is currently in the spotlight; however, I doubt that anything similar with FTX will happen.

The money laundering could be prime issue here. That’s lot of money moving in and out of the binance. I just hope that our worst dreams are not coming true here after the FTX incidence. The problem will start firing up if the clues start coming out of the news and it is associated with Money laundering. We still need assurances from Binance directly and may be in the written consent that all the holdings are in their possession and there is proof of reserve. I don’t know they would do it but that is the only way to stop this FUD.

yes, we don't wish anything bad to happen again. the market just had something bad in a row. if this happened to Binance, it would be very bad for the market. with FUD currently hitting Binance, which alone has turned some investors off. lately, after TFX it's not so great for some centralized exchanges. it's the end of the year, everyone hopes that everything will get better soon and stay well.

Nobody wants bad things to happen, but there's no denying that the very passive spread of FUD lately has many people worried the same thing will happen to binance. With so many bad and unexpected events, this is an opportunity for the people who have always made FUD to do it even more. I agree that there has to be some convincing action from binance in order to be able to answer the allegations against them now. They had to act quickly to deal with this kind of thing before the situation got more out of control.

It wouldn't "kill" the market but it would definitely cripple it, depending what happened and how much reserves would have been lost. AND it would most likely make this a biggest bear market yet. It would be worse then UST crash or any exchange crash before it.

There isn't even anything in crypto history that would compare to it, mtgox, cryptsy, mintpal/moolah were the ones causing panic in the past but this would be exponentially worse on whole another level. And as we don't have anything in the past to compare it to, we would be in uncharted waters that are just too hard to speculate.

Exactly, BTC is not exactly free from occasional FUD from those negative media outlets let alone binance who has risen to the top from the scratch just a few years back.
Such success will always attract haters and FUDers who are not so happy to see the business grow. In few weeks this FUD would have died down anyhow, binance is not liked by many people at the moment, i believe this will not last for so long. As long as the exchange continues to maintain its standard and improve its services.

When haters create FUD, some of the ordinary users like us will keep spreading the FUD without knowing that the FUD will benefit the haters sponsoring it and the common people in the market will suffer it.
If we will understand and stop playing into their conspiracy game, that will be unique.  If we continue we will all suffer it because the market will continue to be in bear for a longer period of time.

We also know that FUDing is part of the cryptocurrency industry. Even CZ must have planned for it because it was obvious that the FUD will coke. But I know too well that it will not last for long.

Not really that something new and if you've been here on this market for some years already then you are already get used into these kind of stuffs on which you wont really be easily get freaked out on the time

that it would really be making out some movements like this.FUDS arent that new no matter on where it is involved because it would really be basing up on whats the current news
and events which these issues would be tied upon.

If you do have the experience and awareness then it is really something that you wont really be that surprised into these kind of situations or events
but rather you would really be seeing some opportunity.

Well if you know how to verify the source of news either if it is FUD or not --then, it should be a must.
The thing that happened on Binance was clearly a FUD or false information, I saw a thread on the Bitcoin Discussion board that it was all lie that many people withdrew their funds from Binance according to their analysis.
When you are one of the leading companies and have a lot of competitors, expect there is a hater that could keep spreading FUD or is an act of revenge by the FTX since the Binance CEO was the reason why the FTX exchange was closed.
However --this is only my own theory.

That's what I mean, if Binance crashes it will probably send the market into the longest downtrend we've ever seen but saying crypto will die when Binance dies is not entirely true. Mt.gox used to be the biggest exchange, but then Binance became another king in the market, and in the future, there will be another king replacing Binance, that's normal. I love using Binance but it's not unique in the market.


If Binance crashes, we'll probably see bitcoin as low as $5k or less, but I'm pretty confident what they're having isn't too big of a deal, just minor troubles for them.

It's defintely and ABSOLUTELY going to be the best decision for plebs to withdraw ALL of their Bitcoins from exchanges because,

1. There's nothing to trade, we are in a bear market
2. Because we are in a bear market, it's risky holding anything in a centralized entity

Buy your Bitcoin, and withdraw immediately to your custody and HODL.

We are aware that influencers are to blame for this Binance FUD. I anticipate that the FTX probe will turn up several flaws on some of these centralized exchanges. Even if the majority of people believe that CZ is trustworthy and won't misappropriate other people's money, I nevertheless suggest that users only leave a small amount on exchanges.

Well I think all the Binance fud is just what the name says it is FUD. Many people who do not like Bitcoin and think its scam are telling us to take our coins off of exchanges like Binance because it will be just like the next FTX.

But there is a difference that Changpeng Zhao is not Sam Bankman-Fried who is a person so many had a bad feeling for and look what happened. I do not keep my coins on the exchanges but I think Binance will be safe if you want to.

And it is a MUST.
We don't care if the news is true or fake, or any news that creates FUDs, as long as we don't keep a huge amount of money from this exchange (Binance), we are still fine.

I'd see how these FUDs create panic among investors and traders but sometimes we have to ignore it. Binance has been one of the most trusted CEX in the crypto market and thousands of traders are using this (including me), and despite the negative news, I remain trusting this exchange.

Indeed, binance is still a well-reputed centralized exchange among several other exchanges. I use binance, that's fine - but certainly not as a repository for your long-term investment assets.

I use binance as an exchange, not a store of assets. I did a few trades there for bitcoin and other assets and I think it can still be expected to help. After all, FUD on binance is currently considered reasonable considering the FTX crash had something to do with it. As best advice, withdraw your funds from any exchange if it is your long term investment. While you can still keep it on the exchange within certain limits if you are a trader.

Just remember that all this FUD is a great buying opportunity.
I am a great believer in CZ and Binance, obviously, they are guided by strong principles.
In the end, I know Cz and Binance will overcome this planned attack on them. Kevin is the villain in this story and he should be blamed for the FUD.

better we think about the positive things that will happen next. This kind of FUD will continue to happen if we ourselves continue to share it. Binance also seems to need to be aware of the various kinds of FUD that are spread by many people, they really have to be ready to fend off all of this FUD. CZ also said that FUD would not last long and that it was only temporary. we will see the market bullish again when the FUD has disappeared and on those occasions, we really should take the plunge to make more profit. Hopefully, this dark incident that happened to FTX will be an important lesson for all centralized exchanges.

You have to explain nr 1, because to me, trading is the ONLY way to make money in bear market, in bull market it's easy as you only need to buy and hodl. Also shorting can be highly profitable during bear market if you have stop limits and other security measurements in place

Nr2 i agree with. But i don't think it's as much during bear market, but bear market being triggered by a big fallen exchange. But usually failed exchange just creates a dip depending how big it was..

it all depends on how the community responds to FUD. Binance will of course try to stabilize the existing news because it affects their market.
all at this time can only hope, the community will no longer respond with the existing FUD. so it won't impact the market. if this continues for a long time. something bad could happen to the Binance community. we can only hope things will get better soon.

That's it. Despite the continuous throwing of negative news about Binance, many traders still have the guts and trust to use them. Perhaps, it wasn't new to hear this but I see many people just trying to ignore it, and instead, they focus on what they are doing. The risk is still the same when using other exchanges. What we just have to do is give our trust and remain neutral to what we have heard around as this will stop the rumors and talking negative about Binance.

This exchange business has gone to a very bad stage in the crypto market. Big players are using various dirty tricks to drive competitors out of the market, which is definitely not positive news for the crypto market. Now that there are records of crypto exchanges collapsing before, crypto traders are becoming more cautious, verifying the rumours, and deciding to withdraw their funds.

No exchange will admit its bad condition until it is finally bankrupt. So we should keep an eye on any rumours, so as not to fall victim to any unexpected situation again.

You are free to believe and think whatever you want, but I personally would not trust or believe blindly on an exchange or a person (who happens to be a businessman).

We should not forget that there is always people who think this way of services, until they finally go out of business. You can still find messages of confidence on FTX, Celsius or Blockfi on Reddit and Twitter.

I agree with you, though. I believe the FUD is quite out proportion, but in this ecosystem where each of us are responsible of our money we need to take care of ourselves, since a CEO won't care about us when comes the time to save their own business/wallet.

Oh shit, I really didn't expect it. But if it does happen, then I think it's a great opportunity to earn more bitcoins for a long term investment.
I also think that it won't be forever that Binance will lead the crypto market as the largest exchange, I mean there will be times when other exchanges will lead their own. Competition is to be expected, but so far Binance has something that really makes it the best.

It's also always possible to have a centralized exchange eventually fail through its own fault. It should be the right mindset about exchanges that people should consider withdrawing their investment funds to their personal wallets.

It would be a definite buying opportunity for us especially those who plans on accumulating bitcoin. If it happens that binance crash, It would be a massive start of people distrusting centralized exchange. FTX crash is just the warning for people to be careful with centralized and if binance crash, binance would be the catalyst of the distrust on centralized exchange. I'm speculating that there would be a high chance that decentralized exchange will be one of the trend in the next bull market.

If binance crashed as hard as FTX I think the effects will be even more insidious, people will begin not only to distrust exchanges but bitcoin and altcoins in general, and this will not be good for the market, so a massive crash will surely follow and who knows how long it would take for the market to recover from such a blow, however even such a crash would not be enough to stop this market and at some point people will begin to buy bitcoin once again and the usage of decentralized exchanges will increase significantly.

FUDs are good for the market because it gives opportunities to make some quick money.
The FUD against Binance is expected now since FTX has collapsed completely.
FTX is an exchange which had it's roots to other platforms as well which is why the contagion is spreading slowly.
Selling now to buy back later at lower price will increase our profits when we sell them back at higher prices.
Short selling in futures can also gives us some nice profits at times of FUD.

When a neighbor's house is robbed within the neighborhood there's some possible fear that you might be next in line as a victim. Binance is a centralized exchange just like FTX and as such people using binance have every reasons to build up FUD , it's left to binance executive to clear the air about that through the right channels, cause as a centralized exchange trust is hard to come by from investors as the exchange company is also into business to making profit and losses could be shifted to investors funds.

Selling bitcoin now after price dropped ~75% from the all time high just to buy at lower price seems incredibly risky to me, unless you are pro trader that knows what he is doing. Otherwise, you might just end up selling low and buying high.


And even if they are wrong about Binance being a next FTX, they are giving you a good advice to move your fund out of there. Purpose of exchanges are to trade your assets and withdraw them to your own non-custodial wallet and not to use it as a bank and unfortunately many use it for exactly that purpose.


This time last year many thought that SBF is genius and FTX will overtake Binance position, and we can see how it ended. While I do think CZ seems like a smart guy, there's so many things that can go wrong and even smart people do stupid things.

This is a nice way to put it, even if binance has nothing to fear and everything was in order, it is comprehensible that people are worried about it, especially since the bear market is still long and it is expected that even more exchanges could fall, so people are not taking any risk and they are taking custody of their own coins, however it would be interesting to watch if the FUD currently circulating does become part of the reason why binance eventually fails and becomes a self-fulfilling prophecy.

Binance is one of the three pillars of the cryptocurrency market (along with Coinbase and Tether). 

The collapse of Binance will likely lead to a panic among investors and a fall in the price of Bitcoin and other cryptocurrencies. 

At the same time, cryptocurrencies have many enemies in the field of traditional finance.  In particular, these are the Central Banks, which are now preparing the introduction of Central Bank Digital Currencies (CBDC).  Therefore, they are interested in the bankruptcy of Binance. 

The US government may believe that the Binance cryptocurrency exchange is associated with the Chinese Communist Party.  This makes binance a mortal enemy of the American government. 

Also, competitors, especially the cryptocurrency exchange Coinbase, may be interested in the bankruptcy of Binance.

I think that it is not FUD, it is security, there are many things that I have not agreed with Binance's behavior, because they are too centralized, and this is what causes me to have more control over people and that is not a good thing, let's train Already the example of FTX, and people no longer want to have their crypto in centralized exchanges because they know that when it is in a centralized exchange things do not go well because the money is no longer the person but the Exhcagene, those things are what People are afraid of losing their money, banks are no longer reliable and neither are Excahgges, I think the safe thing is the same, and the wallets with their private keys.

Well i trust more to Binace's security in the long run then security i can provide for my crypto. I don't have a safe to store my privatekey or have my own guards, i know basic sec op and i am super careful about handling my wallets but if someone really wanted to hack me they probably could. I could store my private key in safe of a bank but that's centralized as well and seems like an extra step for basically same security that binance is build to protect.

If talking about the biggest, strongest, and dominating force in the market right now is Binance, they are actually dominating the entire market even though they come after coinbase. Although I know binance is not immortal, but it is very unlikely that it will crash this year, I have no guarantee but I am pretty sure it will not crash. The collapse of binance not only caused panic in the market, but it will bring the entire crypto industry back to where it started. Market is still being manipulated, and I believe the big boys will not let these terrible things happen. If they do so, they themselves will no longer have the opportunity to make money because there are no market participants.

i think for now Binance is ok, fud was normal when FTX crashed, so people were blowing cold soup, but everything will be normal. the same thing happened with the bankruptcy of Lehman Brothers in 2008, people thought the banking system was going to collapse, and they went on a bank run.

But we still have to be aware of things that make us lose money. Use your cold money and secure your investment, it has happened with FTX, and nothing is impossible the same thing will happen again.

I also believed until recently that Binance was still a very well-liked exchange and that it wasn't going to keep a lot of people swayed by the FUD that was floating around. but indeed I also have to admit and always be on guard that exchanges are not always safe, so it's better not to keep too large funds on all exchanges.
Avoiding something that has happened from existing experiences is certainly a very wise thing to do.

Binance are supposed to suffer some attacks considering their role in FTX collapse which gained them some new enemies from inside and outside the industry. I think they expected what is happening with them and are prepared for it. Despite the fact that there is no totally legit exchange in Crypto, but Binance have the experience and the community trust they need to overcome all these attacks, unlike FTX whose arrogant CEO caused losses for thousands of people.

I think it was basically a revenge situation. It could be coming from inside FTX or anyone that has connections to them and to the media at the same time and they are basically doing what should be done in the first place and attacking back to those teams now.

But, the reality is that Binance never had any issues and will never have any issues like this, they are a legit company and have always been one and all these rumours about them not being safe is just made up stuff to make us all leave binance and hurt them. I guarantee you that if there was something big going on there we would hear about it no doubt and it would not be just a maybe, it will be all out in the open.

Even if both are centralized exchanges, I will like to quote this – Among thieves there's honour. Binance may be a centralized exchange but it could be trying to do right. We have to know that evil doesn't keep mute when being exposed to the world. It fights back. This is what I observe with the so much FUD going on around Binance since CZ Binance lambasted  Sam Fried and his scammy FTX exchange. May be more FUD will still come in days to come.