Crypto replace Binance said it processed $6 billion value of withdrawals in two days – the identical amount of cash that led to FTX’s financial raze.

In a Dec. 22 blog submit, Binance addressed loads of controversial questions posed by the media and crypto crew which contributed to a whimsical amount of “FUD” or “fear, uncertainty and doubt” at some stage within the replace.

The crypto replace disclosed that the amount of buyer withdrawals between Dec. 12 and Dec. 14 hit $6 billion, nonetheless they were processed with none disorders.

In disagreement, within the future of the 72-hours leading up to FTX’s declaration of insolvency, the now-defunct crypto replace additionally saw $6 billion value of withdrawals after which it iced up the efficiency all collectively.

“Facts score proved that we are going to salvage the belief of more customers after this turmoil,” acknowledged the Binance team within the blog.

Binance additionally addressed experiences that its financials were a “murky field.” These statements were made earlier this week by Andrew Thurman, an analyst from blockchain analytics agency Nansen, who educated CoinDesk that Binance is a vastly advanced entity.

Thurman said that aside from the $55 billion value of buyer deposits on-chain that Binance disclosed, the remaining of Binance’s financial files is still very great unknown.

“Binance does no longer wish to repeat detailed financial self-discipline for 2 reasons: first, listed firms must repeat company financial facts to their investors, nonetheless Binance is a private company, no longer a listed company; second, Binance is financially healthy Self-sufficient, no external financing needs and external investors, and no procedure to switch public at this stage,” said the replace’s team in an announcement.

The blog additionally referenced a tweet from Binance CEO Changpeng Zhao from Dec. 6, who said that “FTX destroyed itself,” versus any style of orchestrated attack from a third celebration. Binance doesn’t score in thoughts other exchanges to be opponents, the team said, including that it hopes to gaze more blockchains, wallets and exchanges coexist within the ecosystem.