Discussion

• @cz_binance @cz_binance on x

  This is part of the Proof-of-Reserve Audit. The auditor require us to send a specific amount to ourselves to show we control the wallet. And the rest goes to a Change Address, which is a new address. In this case, the Input tx is big, and so is the Change. Ignore FUD! https://twi…

• @whale_alert @whale_alert on x

  🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 127,351 #BTC (2,062,504,721 USD) transferred from #Binance to unknown wallet https://whale-alert.io/...

• @asiahodl Mira Christanto on x

  I'm a fan of Binance but auditors would never ask you to move $2bn They will be physically present and ask you to *sign a message* using the private key of addresses holding the funds. There is no requirement to move funds at all. https://t.co/h0s2ZejgRh

• @dylanleclair_ @dylanleclair_ on x

  Is anyone else getting weird vibes from CZ right now? It's like he's running the SBF summer playbook: Public projection of strength and talks of “industry bail outs” while attempting to raise funds. I'm not claiming anything, but the similarities are... odd.

• @altcoinpsycho @altcoinpsycho on x

  Crypto rule #1, don't become the main character. CZ just inherited the main character role, wether he wants it or not Will be interesting to see how it plays out

• @mikealfred Mike Alfred on x

  When the truth finally comes out about CZ and Binance, all the people on here who relentlessly hero worshipped him will suddenly deny ever supporting him. A story as old as time.

• @franciskimeth @franciskimeth on x

  So much transparency that CZ just pulls out a casual 1B from one of the “proof of reserves” wallets labelled Binance 14 to be the saviour of the crypto industry. https://twitter.com/...

• @arkhamintel @arkhamintel on x

  Binance has been making some whale-sized moves recently, with a $2 Billion transfer of BTC only 2 hours ago. This past fortnight, Binance has also moved $1 Billion into its Industry Recovery Fund wallet, and also received funds from a $1B Tether Chainswap. https://twitter.com/...

• @emilyjnicolle Emily Nicolle on x

  information requested in applications to Binance's rescue fund is considered “competitively sensitive”. “typically, exchanging about pricing, production levels, capacity and margins is considered an illegal exchange of information.” (h/t @RyanJamesWeeks) https://www.theblock.co/.…

• @carnage4life Dare Obasanjo on x

  Binance replaying the industry savior role that FTX did over the summer is giving massive fool me once vibes. This includes parallels between FTT & BNB. Crypto continues to give a sense of being full of companies that haven't gone bankrupt...yet. https://www.theblock.co/...

• @caspiancey Cas Piancey on x

  hey any proof of this sweet $2,050,000,000 reserve fund from Binance?

• @lawmaster @lawmaster on x

  @Tree_of_Alpha Yea so I'm looking into it more. Binance funded 1B BUSD from their cold wallet (0xf977), which was disclosed in their list of wallets last week. So basically either: - using their own profits but why same wallet as customer deposits - using customer funds, which I …

• @franciskimeth @franciskimeth on x

  This is what I mean. https://www.theblock.co/... https://twitter.com/...

• @elenigiokos Eleni Giokos on x

  Can we see liabilities and liquidity please? https://twitter.com/...

• @arkhamintel @arkhamintel on x

  Separately, $1 Billion BUSD was moved into wallets designated as part of the Industry Recovery Fund by CZ. This supply of BUSD is intended to provide financial support to companies beleaguered by recent volatility events. https://twitter.com/... https://twitter.com/...

• @jconorgrogan Conor on x

  Binance claims that the $1B it sent from a cold wallet to the Industry Fund yesterday are Binance self-segregated funds- separate from user funds it stores in the same wallet. If true, this means that their earlier reserves report wasn't a good representation of user assets https…

• @ldrogen Leigh Drogen on x

  No one is really heavily incented to hold CZ's feet to the fire to get a full audit or answer the big questions If he's clean then you lose influence with the king of crypto, and if you're long and he's dirty you've shot your self in the foot

• @tree_of_alpha @tree_of_alpha on x

  @cz_binance Mind telling us who the auditor is? Which firm?

• @jconorgrogan Conor on x

  In a nutshell, Binance admits it commingles funds at the wallet level but says it has strong internal operational controls to keep funds effectively segregated. Because of this, it makes distilling Binance company funds from user funds impossible right now

• @cz_binance @cz_binance on x

  Another one, as part of the audit. https://blockstream.info/... https://twitter.com/...

• @dylanleclair_ Dylan LeClair on x

  Punching down on “weak exchanges” - Attempting to raise for an industry recovery fund - Pledged $1b of BUSD that was in exchange reserves - Unanswered questions on their audit firm Just odd, idk. Again, I'm claiming nothing. But my BS detector has been set off a few times. https:…

• @bitfinexed @bitfinexed on x

  Wake up people. Changpeng Zhao is a scammer. https://twitter.com/...

• @cz_binance @cz_binance on x

  We will be doing this on all cold wallet addresses in the next few hours/days. Some won't trigger a whale alert. It all depends on the input address. I wish Whale alert could be smarter about its reporting. https://twitter.com/...

• @arkhamintel @arkhamintel on x

  Binance has also been working with @Tether_to to facilitate chainswap transfers. Tether earlier: “co-ordinate with a ‘third party’” to perform the swap, with funds arriving on Ethereum from Solana. These funds were then sent to a Binance address, presumably for distribution. http…

• @ldrogen Leigh Drogen on x

  Look this whole thing just reeks Binance just happens to have $1B sitting around for a bailout fund, but it came directly from a cold wallet used for client funds? C'mon guys https://twitter.com/...

• @dylanleclair_ @dylanleclair_ on x

  The emotional responses are telling. Many people would be much better off if they could assess outcomes probabilistically. Assign a non zero chance of bad outcomes in your mental model, instead of blindly trusting talking heads and never entertaining the thought. Or don't. 🤷‍♂️

• @wallstreetpro @wallstreetpro on x

  These “proof of reserves attestations” by #crypto firms are silly. #Binance just funded its “Crypto Recovery Fund” from a cold wallet which was listed in their proof of reserves attestation. As you can see no distinction btw customer funds in custody & Binance's own holdings. 🤡 h…