How Binance’s Financial Actions Helped to Stabilize Crypto Market

• Binance CEO strategically withdrew USD from US banks following the collapse of Silvergate and Signature banks.
• This move seemingly prevented a potential collapse of the crypto market.
• Strategic asset shift mirrored reserves, safeguarding stability amid market turmoil.

In a recent tweet, prominent crypto researcher Aleksandar Djakovic raised intriguing insights about Binance’s financial maneuvers during a critical period, which is believed to have ‘saved’ the crypto industry.

Djakovic’s tweet suggests that Binance’s CEO Changpeng Zhao, strategically withdrew dollars from U.S. banks following the collapse of Silvergate and Signature banks. This move seemingly prevented a potential collapse of the crypto market while maintaining stability.

Djakovic pointed out that Binance was internally converting user-deposited USDC into BUSD earlier this year, yet it held onto the USDC in re…

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