“Historic Moment” – Leak Reveals Shock Binance CEO Prediction After FTX Bitcoin and Ethereum Price Crash
Bitcoin
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Bitcoin prices have fallen below $17,000 per bitcoin as panic suddenly hit Binance, the world’s largest bitcoin, ethereum and crypto exchange by volume, and the Federal Reserve signaled it will continue to raise interest rates.
Now, after leaks revealed that the most powerful CEOs in crypto are prepared for a $65 billion earthquake, Binance CEO Changpeng “CZ” Zhao has warned that the “crypto winter” is not over yet after the collapse of FTX wiped billions from bitcoin , ethereum and the crypto market.
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Binance CEO Changpeng “CZ” Zhao has warned that the “crypto winter” is not over after FTX … [+]
“While we expect the next few months to be bumpy, we will get past this challenging period – and we will be stronger for having been through it,” CZ wrote in a note to Binance staff seen by Bloombergadding bitcoin and crypto are going through “a historic moment,” but Binance “will survive any crypto winter.”
CZ’s warning comes during a rocky week for Binance that has seen users pull billions of dollars from the exchange amid fears it could follow FTX into bankruptcy.
FTX’s shock collapse sent shockwaves through the bitcoin, ethereum and crypto markets with crypto companies scrambling to reassure users that their money is safe.
This week, accounting firm Mazars published and deleted a proof-of-reserve assessment of Binance before announcing it was suspending work with crypto companies.
“This is due to concerns regarding the way these reports are understood by the public,” Mazars said in a statement Coindesk.
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The Bitcoin price has crashed by about 70% since the end of last year, wiping out about $2 trillion in value … [+]
Binance’s BNB
“The current environment of mistrust in Binance is only natural, and the increased volume of outflows from the exchange is a rational precaution by users,” bitcoin analyst Josef Tětek at Trezor, a company that sells self-custodial crypto wallets, said in an email -mail. comments.
“Exchanges that conduct their business honestly need not be concerned and should be able to satisfy all withdrawal requests. In this regard, Binance seems to be managing its liquidity well after $5 billion worth of crypto was withdrawn over a 24-hour period.”
