Stabilize

Coin

<ul class="news-points"> 
 <li><strong>Binance CEO strategically withdrew USD from US banks following the collapse of Silvergate and Signature banks.</strong></li> 
 <li><strong>This move seemingly prevented a potential collapse of the crypto market.</strong></li> 
 <li><strong>Strategic asset shift mirrored reserves, safeguarding stability amid market turmoil.</strong></li> 
</ul> 
<p>In a recent tweet, prominent crypto researcher Aleksandar Djakovic raised intriguing insights about Binance’s financial maneuvers during a critical period, which is believed to have ‘saved’ the crypto industry.</p> 
<p>Djakovic’s tweet suggests that <a href="https://coinedition.com/changpeng-zhao-says-fud-and-pressure-has-brought-binance-team-closer/" rel="noopener noreferrer nofollow">Binance’s CEO</a> Changpeng Zhao, strategically withdrew dollars from U.S. banks following the collapse of Silvergate and Signature banks. This move seemingly prevented a potential collapse of the crypto market while maintaining stability.</p> 
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   <p lang="en" dir="ltr">1/ Binance proof of reserves, the table shows how CZ was withdrawing dollars from US banks after the collapse of Silvergate and Signature banks, at the same time preventing the crypto from collapsing… <a href="https://t.co/zGKNkve6y6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/zGKNkve6y6</a></p>— Aleksandar Djakovic (@sasadjak72) <a href="https://twitter.com/sasadjak72/status/1688517434393686017?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 7, 2023</a> 
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<p>Djakovic pointed out that Binance was internally converting <a href="https://coinedition.com/binance-usdc-busd-conversion-begins-second-great-stablecoin-war/" rel="noopener noreferrer nofollow">user-deposited USDC into BUSD</a> earlier this year, yet it held onto the USDC in re…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/how-binances-financial-actions-helped-to-stabilize-crypto-market/">How Binance’s Financial Actions Helped to Stabilize Crypto Market</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

How Binance’s Financial Actions Helped to Stabilize Crypto Market

Coin Edition

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