Bank Run On Binance? CZ tries to reassure customers

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December 13, 2022Story by Divya SinhaCrypto exchange giant Binance saw a significant increase in customer withdrawals over the past 24 hours. $1.6 billion worth of ETH, ERC-20 tokens and USDC was withdrawn from Binance. Justin Sun also confirmed that there is no leverage or margin involved and that these stablecoins are backed 1:1. He said that we will also be trying to establish fluid swap channels in future.