DANGEROUS!?! Has Binance Become A Monopoly?
Binance is solvent, liquid and stable, which is evident in the exchange’s more than $55 billion in verifiable cold wallet addresses, Bernstein said in a research report Monday.
The crypto exchange can also “pass the test of withdrawals” as it did when $6 billion of customer funds were withdrawn on Dec. 13, the report said.
“Binance’s undisputed market leadership has not been an accident – it has a long history of doing right by the customer,” the report added, noting that the exchange has made customers whole through hacks and regulatory challenges. The exchange now accounts for about 75% of the global crypto trading market.
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