Willy Woo Raises Concerns On “BNB-Backed” Binance SAFU Fund

Popular on-chain analyst Willy Woo raised concerns over Binance's Secure Asset Fund for Users (SAFU) Insurance Fund. He believes it's not safe to put “incidence-correlated BNB” in the SAFU fund.

Timeline of Bnb

Binance Coin price analysis shows a rare bearish return today, as price surged by more than 12 percent to move close to the $300 resistance point. BNB has cleared levels above $295 for the first time since the massive 34 percent decline that took place on November 8.

Quick Take The BNB Chain ecosystem has gained outsized attention in recent weeks after what started as a public dispute between the founders of Binance and FTX eventually spiraled into FTX's collapse just a few days later Growing concerns about stablecoin volatility in the wake of the FTX crisis have become visible on BNB Chain, which hosts a significant amount of stablecoin liquidity and trading activity for the broader DeFi ecosystem In spite of a general drawdown in TVL among L1s, the BNB Chain ecosystem has remained notably resilient during this recent period of heightened market volatility

BNB has managed to outperform some of the top cryptocurrencies in terms of its ability to hold value. The robust utility of the BSC contributed greatly to sustaining BNB's demand.

 BNB's price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $260.   BNB's price continues to look weak as bearish market sentiments increase, with things looking uncertain for most traders and investors.

Binance Coin price analysis suggests a downward movement to $260 The closest support level lies at $270 BNB faces resistance at the $275 mark The Binance Coin price analysis shows that the BNB price action has fallen to the $270.00 mark after the buyers failed to break above the $290.00 mark.

Binance's CEO shared a solution to help avoid exchanges using customer funds as presented by Vitalik Buterin BNB continues to prevail in static positions, according to its on-chain information The CEO of Binance, CZ, agreed with Vitalik Buterin that Centralized Exchanges (CEXes) needed to produce public evidence showing user safety.

The attackers who drained $600 million from the now-bankrupt exchange FTX, swapped nearly 30,000 tokens for (ETH) and (BUSD) on November 17. The post FTX attacker continues swapping tokens; exchanges $7.95M BNB for BUSD, ETH appeared first on CryptoSlate.

The Binance Coin (BNB) price is trading inside a short-term bullish pattern. While a breakout from it seems likely, the long-term trend indicates another nosedive will eventually occur.

FTX hacker swaps 29.7k BNB, after FTX, a cryptocurrency exchange faces a massive hit of a $600 million hack on Friday. Amid the ongoing liquidity crisis as per today's report, the FTX hacker becomes the 31st largest Eth holder.

The price of Binance coin (BNB) has fallen to $266.46 today, representing a 2.5% drop in 24 hours. However, its current level marks a slight rise of 1% for the last seven days, with the exchange utility token having been affected by the ongoing FTX collapse.