🏦 CZ: "I Don't Know of Any Bank That Could Handle That"
Binance founder CZ is highlighting the exchange's resilience, and the claims are getting attention.
🗣️ What CZ reportedly said
• Binance once processed about $14B in withdrawals in a single week without issues
• About $7B was withdrawn in one day, and he doubted any bank could handle that
• These figures come from CZ himself and haven't been independently confirmed
📜 Verified context
• In December 2022, after FTX collapsed, Binance faced heavy withdrawals, with analyst data showing roughly $3.7B in a week
• It kept processing withdrawals and CZ called it a stress test
🔐 Now, after the $6.3B hack
• Binance says it will cover all losses (SAFU and company funds)
• About $3B of stolen assets were frozen
• Deposits stayed normal while withdrawals were restored in phases after a security revamp
• A full technical report and new Proof of Reserves are coming
⚖️ Balanced view
✅ Strong liquidity and fast response build confidence
⚠️ A resilient response doesn't erase the security failure itself
⚠️ Judge Binance by its post-mortem and verified reserves, not statements alone
👀 Watch next:
1️⃣ Technical post-mortem
2️⃣ Proof of Reserves results
3️⃣ Recovery of frozen funds
💬 Does Binance's response make you trust it more or less? 👇
Not financial advice. DYOR.
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