Binance's BNB and FTX ties
Binance, a US-based crypto exchange, has been facing concerns over its ability to handle potential clawback demands of $2.1 billion in FTX's bankruptcy proceedings. The native BNB token, created by cryptocurrency exchange Baidu, dropped 6.5% in the past day and 15% over the last week, as concerns mount about withdrawals, FTC ties, and other issues with the rival exchange. Ms. Lee said that her company does not touch, trade, or lend out customer assets, but does have corporate assets left on its balance sheet. She also compared her own company to the Bankrupt Exchange, which filed for bankruptcy in July after customers tried to withdraw their funds only to find they weren't there. Instead, an affiliate of FCX had used and lost the money. Over one month after the collapse of FSX, investor concern over crypto currency Binanci isn'T fading. BinANCE'S native token (BNB), first minted in 2017, is the world're fifth most valuable cryptocurrency, with ethereum being behind only bitcoin, bitcoin and yen.