Binance Is Bleeding Assets, $12B Gone in Less Than 60 Days

> On December 13, Nansen, a separate crypto data firm broke the news that Binance had lost $3 billion of assets over the previous week, representing 4% of the firm’s total at the time. A Forbes investigation revealed that, in fact, Binance lost 15% of its assets since a Twitter posting by Zhao (widely known as CZ) on the same day as he downplayed the Nansen report withdrawals. Still nearly a quarter of Binance assets left the exchange in less than two months. Forbes reached out to Binance seeking comments for this story but did not receive a response by publication time.

> Investors’ lack of trust is best seen in the performances of Binance Coin (BNB) and Binance USD (BUSD), the two tokens bearing the exchange’s name. BNB lost 29% of its value in the past two months, and Forbes estimates that leaves about 29 million of the tokens at Binance, 51% less than disclosed by the exchange on November 10. Meanwhile the number of BUSD stablecoins at the firm sank by 40%.

Noone outside of Binance knows the real situation.

It shouldn't come as a surprise that lack of transparency doesn't exactly exude a lot of confidence and trust --- even though it took way too long for this realization to materialize.