Until yesterday Binance was one of the biggest looser with over 80k BTC withdrawn over the last 30 days. Coinbase was ranked first, but also with massive loses. Nearly all exchanges lost huge amounts, fitting perfectly in the narrative of people withdrawing their bitcoin.
Isn't this current happenings enough lessons for the people to wise up and take their assets off the centralized exchanges, more exchanges will still follow the same pattern FTX had been through and fall without a remedy to recover every lost assets, i think now people are getting to understand the more need they have to stay off the centralized exchanges and many of these same people would have come to a platform like this in learning to know why the FTX incident occurred and possible solutions for others to look after.
But suddenly in the last 24 hours Binance added and incredible 92,000 Bitcoin to their exchange an amount never seen before on the exchange (according to coinglass, and if you check the last 12 months). I found very little info about that, and all nearly other exchanges are still getting their balance reduces.
They are experienced on doing this, if they fail to pump more bitcoin to the exchange as people were withdrawing their btc off their exchange it will reduce their liquidity and capitalization as well and many will beginbto suspect them sooner to bebthe next victim.
Do we have some info about that or any idea whats going on?
There will always be manipulations with exchanges and all that is needed is to stay clear and off them in avoiding any unnecessary headache.