The media spread Binance FUD for months and said that Binance was insolvent, so Binance had to experience a major bankrun; but now two major US banks collapsed and Binance is doing great

Since the fall of FTX and arguably even long before, the media have been attacking Binance. I would argue that Binance is the most attacked company in the world. This FUD even sparked a major ‘bankrun’ with people withdrawing more than 14 billion from Binance over a short period of time.

Binance Bankrun, source: CryptoQuant

In the meantime, two major US banks collapsed. And how does Binance fare? Well, the Binance reserves have only grown:

Source: 100bviking

Binance’s market share is only getting larger:

Source: 100bviking

Binance’s share of the spot trading volume is through the roof:

Source: JA_Maartun

BNB is the most used blockchain in the world:

Soirce: Coin98 Analytics

Look, one could criticize Binance and I also think a lot of the spot volume is white washing + its market share is too big, which goes against the whole idea of decentralization. But irrespective of all the massive FUD, Binance is doing great; yet it is the banks that are doing bad and collapsing. I can see why traditional finance sees crypto as a threat.

submitted by /u/Beyonderr
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