Binance: Wallet Transactions and Comparisons to Behavior of Collapsed FTX Are Erroneous
Binance has stated that recent media interpretations of large transactions from their wallets, as well as comparisons to the behavior of the collapsed FTX, are inaccurate, if not intentional misinformation.
They have emphasized that the crypto exchange has complex management systems to ensure security and liquidity, as their daily trading volume is around $38 billion.
Binance has clarified that most of the transactions being tracked were withdrawals by institutional clients, and third-party experts cannot link such transfers to changes in user balances as this information is confidential.
They have concluded that a lack of a complete picture of their processes is leading some reporters to misinterpret the nature of the transactions they observe.
