An X user going by the name AB Kaui Dong sounded the alarm early Tuesday, when he noticed suspicious onchain activity by the world’s largest cryptocurrency exchange, Binance. “The most discussed topic among peers today should be Binance, which is selling off a large amount of its own BTC and ETH assets,” Dong said. “Most currencies have been converted into the stablecoin USDC.” Although Dong acknowledged that the assets were not user funds and belonged to Binance, the allegations gained traction and were reported by major crypto publications such as Cointelegraph. Binance was suddenly being accused of having sold off 94% of its bitcoin, 99.9% of its ether, and 99% of its solana in January. But the exchange put an end to the rumors and explained that the transactions were merely part of its standard accounting process. “Binance is not selling assets. This was simply an adjustment in the Binance treasury’s accounting process,” Binance explained. “User funds are SAFU, as always.” Dong also came out and confirmed that Binance “is indeed safe at present.” Cointelegraph subsequently retracted its earlier allegation.
Binance Accused of Selling off Assets, Denies Rumors
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