<p>So it’s no rumor: BNB must under no circumstances give up the $212 mark, and Binance CEO CZ is in the front line to defend it. The slightest deviation could precipitate an imminent liquidation, with unpredictable consequences for the crypto market.</p> 
<h2 id="tension-mounts-around-the-212-mark-and-the-issues-at-stake">Tension mounts around the $212 mark and the issues at stake</h2> 
<p>Since the weekend, a rumor has been swirling on Twitter: Binance, one of the most influential exchange platforms in the crypto ecosystem, could find itself in danger of liquidation. However, the truth goes far beyond mere speculation.</p> 
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<p>It’s clear that the value of BNB has failed to break the $212 barrier. The reason is complex. It would appear that Binance had taken out a loan backed by BNB, with a liquidation condition as soon as the price reached this fateful mark. Although this threshold had been adjusted to $220 following the introduction of margin in June, this reality put CZ and its team in a tricky position.</p>  
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<h2 id="strategies-unveiled">Strategies Unveiled</h2> 
<p>The spotlight is on CZ, which recently broke his silence. Observers of the crypto world are wondering whether Binance’s future hangs on this delicate situation.</p> 
<p><a href="https://twitter.com/v_bnbchain/status/1692932639391645738?s=20" target="_blank" rel="noopener noreferrer nofollow">Sources</a> insinuate that CZ has taken action to swap BTC for TUSD, while simultaneously buying BNB, in a bid to prevent the crypto from dipping below the $212 mark.</p> 
<p>These moves are reminiscent of the cunning game Sam Bankman-Fried played to keep FTX’s FTT afloat. It’s a move that’s bound to capture the attention of a crypto community that still remembers the disastrous consequences of such actions, as suffered by the late, ailing FTX platform.</p> 
<p>The debate has gone viral on Twitter, prompting insightful comments from crypto experts. Marty highlights that BNB’s health rate was supported in June to the tune of $60 million, influencing the liquidation threshold set at $212.</p> 
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    <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
     <p lang="en" dir="ltr">Funny, CZ confirmed here that “yeah, we are selling assets to prevent BNB from going below $212,” which was the point of the original claim.<br><br>Binance <a href="https://twitter.com/search?q=%24FTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTT</a> moment coming right up.<br><br>When you see a crypto CEO sub-replying to tweets like this, it’s a good idea to GTFO. Just saying. <a href="https://t.co/pLl7FujjGt" rel="noopener noreferrer nofollow">pic.twitter.com/pLl7FujjGt</a></p>— DIRTY BUBBLE MEDIA: GOOD LUCK, GOOD BYE. (@MikeBurgersburg) <a href="https://twitter.com/MikeBurgersburg/status/1693009130510758395?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 19, 2023</a> 
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<h2 id="h-cz-breaks-his-silence">CZ breaks his silence</h2> 
<p>CZ’s riposte was not long in coming. While questioning the famous “magic number” of $212, Binance’s CEO supports his position by pointing out the fluid and changing nature of the BNB price.</p> 
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 <p><em>And where does the magic figure of $212 come from? The BNB price is determined by the market. A $30 million buyback represents less than 4% of a single day’s volume.</em></p> 
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<p>In short, the story of Binance and BNB transcends the simple notion of a liquidation threshold. It reflects a complex web of issues facing exchange platforms in the crypto landscape. The balance between internal and external factors plays a major role in maintaining stability and trust.</p> 
<p>The saga continues, as unfavorable news continues to pile up for the platform, which has to deal with the situation of Checkout.com, a credit card processing company, having recently terminated its contract.</p> 
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Binance in the spotlight: CZ reacts to BNB!

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