The post Official Statement from the Exchange on Allegations that Binance Sold a Huge Amount of Cryptocurrency in the Last Month appeared on BitcoinEthereumNews.com.

Binance, the world’s largest cryptocurrency exchange, has addressed the claim that it sold a large amount of its extra assets, excluding customer assets, in its statement. It was alleged that a total of almost $8 billion worth of crypto assets were sold since Binance’s last Proof of Reserves (PoS) report. The allegations included that the exchange’s extra Bitcoin holdings dropped from 46,896 BTC to 2,747 BTC between January 2025 and February 2025, its Ethereum holdings dropped from 216,313 ETH to 175 ETH, and the majority of its assets were converted to USDC. According to the latest information, an official X account affiliated with Binance has published a statement on the subject. According to Binance officials, the situation was explained as follows: “Binance is not selling assets. This is simply an adjustment to the accounting process of the Binance treasury. User funds are SAFU as always.” When historical data is examined, we see that similar asset sales occurred in June 2023 and February 2024, when Binance had to pay a large fine. Afterwards, Binance reduced the ratio of its extra assets to customer assets to normal levels. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/official-statement-from-the-exchange-on-allegations-that-binance-sold-a-huge-amount-of-cryptocurrency-in-the-last-month/

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Filed under: News - @ February 12, 2025 3:27 am