Binance is in a safe position; No Crash Risk Like FTX: Brenstein Report

A crypto analyst and professor at the University of Illinois assured in his latest report that Binance is risk free and will survive the crypto market crisis.

January 04, 2023 09:52 a.m.

UNITED STATES.- Daniel Bernsteina cryptanalyst and mathematician, who works as a professor at the University of Illinois in Chicago, published his latest report on his social networks, where he offered evidence of the Exchange Binancey assured that this will survive the crisis facing the crypto-market.

During 2022, cryptocurrencies experienced a brutal crash, fueled mainly by the fall of the Terra/$Luna cryptocurrency; After this, the price of Bitcoin and the rest of the cryptocurrencies went into a tailspin, with which the first wave of the crypto-winter arose.

Some time later, various exchanges or crypto-signatures declared bankruptcy; However, the one that most affected the sector was the fraud involving the FTX Exchange and its former CEO, Sam Bankman-Fried.

However, in a recent report published by the brokerage and analysis firm Bernstein, it is indicated that Binance, the Exchange that capitalizes the largest volume of operations worldwide, would not be at risk of becoming insolvent and failing as critics predict. .

This was what Daniel Bernstein said.

In his report, the cryptologist and technology expert pointed out that Binance is a solvent, liquid and stable platform; and this is demonstrated in the more than $55 billion dollars that is stored in customer wallets.

Likewise, the cryptocurrency exchange can “pass the test of withdrawals”, as it did when $6 billion of client funds were withdrawn on December 13.

Currently, Binance represents 75% of the global market in cryptocurrency trading, and sets the standard for leadership in the sector.

Binance’s undisputed market leadership has not been an accident, it has a long history of doing the right thing for the client,” the analyst’s report added.

With this in mind, the cryptologist certifies that Binance, unlike other exchanges, is risk-free. However, although the expert assures that the position of the crypto exchange is extremely solid, those responsible for the report also warn that it will face certain challenges if it wishes to further consolidate its operations.

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