Binance is facing a fresh wave of online criticism, yet blockchain analysts say onchain data reveals no signs of operational strain or reserve pressure during recent market turbulence. Accord
Binance is facing a fresh wave of online criticism, yet blockchain analysts say onchain data reveals no signs of operational strain or reserve pressure during recent market turbulence.
According to CryptoQuant, Binance’s BTC reserves remain effectively stable despite volatility that briefly pushed Bitcoin below the $74,000 level earlier this week.
“Binance holds around 659,000 BTC, virtually unchanged from 657,000 BTC at end-2025,” CryptoQuant said in a statement shared with Cointelegraph on Wednesday, highlighting “no material reserve erosion during the current Bitcoin sell-off.”
Analysts argue that such stability contradicts growing online narratives suggesting Binance could face a crisis similar to the collapse of FTX.
Across Tuesday and Wednesday, multiple X accounts with near-identical names began posting the same message stating they had decided to close their Binance accounts, according to reports.
Profiles including Wei BNB, Hao BNB, and Wang BNB shared identical text, similar usernames, and matching avatar imagery at the moment their posts were published.
A review of the accounts’ activity patterns suggested coordinated behavior, with earlier posting histories indicating that some profiles had previously been used for unrelated content.
These patterns prompted observers to question whether the posts represented genuine user concern or an orchestrated attempt to amplify negative sentiment.
Binance co-founder Changpeng Zhao addressed the posts on X, describing them as examples of unhelpful behavior while reiterating that constructive feedback remains welcome on the platform.
Hardware wallet manufacturer Trezor also circulated the posts, using them as an opportunity to highlight the process of transferring funds from exchanges into self-custody storage.
“At a moment when our industry should be focused on growth and continuing to build trust, the rise of misinformation is a serious and escalating threat,” a Binance spokesperson said.
“The ease with which bad actors can create or purchase multiple social accounts to spread false narratives cannot be ignored.”
While some posts appeared coordinated, not all criticism originated from questionable accounts, as several respected voices in the crypto community have recently raised concerns about Binance’s past actions.
Star Xu, founder and CEO of OKX, claimed the exchange played a significant role in the mass liquidation event on Oct. 10, 2025, citing aggressive marketing and leverage practices.
Xu argued that high-risk promotional campaigns, particularly those tied to Binance’s USDe initiative, contributed to systemic vulnerabilities exposed during the crash.
Binance rejected suggestions that its platform triggered the October flash crash, referring critics to a detailed response published earlier this year addressing the accusations directly.
Xu clarified that his comments were not intended to assign blame, but to encourage greater transparency, responsible leverage practices, and stronger trust across the cryptocurrency ecosystem.
Despite online narratives drawing comparisons to FTX, analysts say the current onchain data does not support claims that Binance is facing liquidity pressure or reserve depletion.
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