The Defiant

Can CZ's Binance weather the storm?

Trust Crisis?

By: Aleksandar Gilbert

This week, Binance, the world’s largest crypto exchange, seems to be facing a crisis of trust. Its native token BNB has seen a sharp decline in value following over $6bn in user withdrawals. Adding fuel to the fire, Kevin O’Leary claimed that Binance was to blame for the FTX collapse, to which CZ responded by calling O’Leary a liar. So let’s dive into the crisis and see how Binance is responding to it.