Binance Won’t Go Bankrupt Even if All Users Initiate Withdrawals: CZ

Despite a challenging year, Binance CEO CZ reassures community amid withdrawal concerns, stating the exchange would remain stable even if all users withdrew funds at once.

Binance experienced a $6 billion withdrawal surge from December 12-14 due to speculative concerns about reserves. Despite this, user assets are confirmed 1:1 backed. CZ assures Trust Wallet funds' security, even in the event of a shutdown

CZ emphasizes never touching user funds, stresses transparency and safety. Hopes for a better 2023 with user-friendly apps and ethical practices.

CZ clarifies Binance's stance on recent community concerns, affirming 100% reserves and assurance against failure even with mass withdrawals. Prioritizing transparency, CZ addresses FTX-related risks and dispels fraud allegations, urging against broad generalizations.

Binance, a major cryptocurrency exchange, faces rival attempts to discredit through paid media spreading FUD...

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