Binance chief executive Changpeng Zhao has blamed the collapse of FTX and the fraud charges levelled against its founder Sam Bankman-Fried for a wave of withdrawals that struck the world’s largest cryptocurrency exchange this week.
Zhao sought to reassure nervous customers on a Twitter ask-me-anything discussion that Binance is financially healthy after clients pulled more than $1bn from the trading venue, the highest daily withdrawal since June.
“There is no amount of withdrawals that would put us under pressure,” Zhao said.
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