{"id":41112,"date":"2026-02-12T17:15:17","date_gmt":"2026-02-12T17:15:17","guid":{"rendered":"https:\/\/financialrush.com\/?p=41112"},"modified":"2026-02-12T17:15:17","modified_gmt":"2026-02-12T17:15:17","slug":"binance-refutes-huge-outflows-allegations-says-data-is-misreported","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=41112","title":{"rendered":"Binance Refutes Huge Outflows Allegations, Says Data is Misreported"},"content":{"rendered":"

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Binance, the world’s largest cryptocurrency exchange, is facing mounting rumors on social media that funds are flowing out of it at unprecedented rates.<\/p>\n

“Get your funds off of Binance. -$17bn of withdrawals in the last 7 days. There is a risk they will become insolvent, and you won’t be able to get your money out. Withdraw now or cry later,” wrote<\/a> a popular crypto analyst on X. Although the figures range from $10 billion to $17 billion, many others reiterated this opinion.<\/p>\n

The exchange was quick to respond, saying<\/a> that data from third-party sources shows discrepancies and that it is to be “restored.”<\/p>\n

\n

Thank you everyone for your concern about Binance. The data cited by Coinglass comes from third-party sources, and DefiLlama previously showed discrepancies. It will take another 24 to 48 hours for their data to be restored.”<\/p>\n<\/blockquote>\n

Moreover, Binance said that they believe that “regularly conducting withdrawal tests on all trading platforms is a positive and healthy practice. When performing these tests, please double-check the address carefully. Confirm, then withdraw.”<\/p>\n

They even went so far as to suggest an annual “withdrawal day” that should be established for all platforms to thoroughly verify the authenticity of their assets.<\/p>\n

Meanwhile, the Proof-of-Reserves report on their official website reveals that all cryptocurrencies are, at the time of this writing, overcollateralized, meaning that there is more USD backing their reserves than crypto – a sign of health.<\/p>\n

<\/a>
Binance Proof of Reserves. Source: Binance<\/figcaption><\/figure>\n

The post Binance Refutes Huge Outflows Allegations, Says Data is Misreported<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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