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On-chain data shows that more than $100 million in tokens exited exchanges this week, most of it in the past 24 hours, while stablecoin reserves dropped 9.5% over the course of the week.
Binance CEO Changpeng Zhao (CZ) said that if people "use cash that they don't need for a long time," they should invest in cryptocurrencies as the market sees high volatility under the influence of FTX.
βHolding your own cryptocurrency in your wallet is not without risk,β Binance CEO Changpeng Zhao said in the Twitter space today.
The move was βin full swingβ before the FTX debacle and heightened scrutiny of centralized exchanges.
"While we expect the next few months to be bumpy, we will navigate through this challenging period," CZ said while reassuring the group that it is enduring.
Learn how to short crypto on Binance with our complete guide for 2023. Get started today and take advantage of the latest crypto trends and market fluctuations.
Here you will find out how to transfer money from crypto.com to a bank account. Check a full guide to get your crypto from a crypto exchange to a debit card.
Unveiling aspects of crypto margin trading in the USA and globally π² Discussing crypto margin trading exchanges and crypto margin calls with a Btcman expert
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