• Despite market turbulence, Binance’s assets showed only a modest decline, easing concerns.
• Binance CEO addressed FUD, clarifying outflows and emphasizing the impact of price drops.

The recent lawsuit filed by the SEC against Binance and Coinbase has sent shockwaves through the crypto community, with Binance and its native token, BNB, being particularly impacted. Amidst the turbulence, many questions arise regarding the stability of Binance’s assets and its ability to alleviate the FUD surrounding the exchange and its token.

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Looking at the assets

Despite concerns, data from on-chain analytics indicated that Binance’s assets have not experienced a significant decline. The overall value of assets held on the platform decreased by approximately 13% in the past week, primarily due to the drop in cryptocurrency prices.

According to Binance’s public address, the total assets haven’t decreased significantly.

The total assets have decreased by ～13% in the past week, which is largely due to the crypto price drops.

Most assets have fallen between 6% and 38% over the past 7 days. @cz_binance pic.twitter.com/VYXLiTSr89

— Lookonchain (@lookonchain) June 10, 2023

While Binance’s assets did not suffer a substantial decrease, its reserves have been on a declining trend in recent months. According to Dune Analytics’ data, reserves showed significant reductions. As of now, the exchange’s reserves com

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Author: Himalay Patel

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