Yi He, who is a manager and one of the founders of the cryptocurrency exchange Binance, responded to the recent allegations regarding the solvency of the platform on the X platform. Binance, one of the important actors of the cryptocurrency industry, is known as a cryptocurrency trading platform that operates in different parts of the world and has a large user base.
Withdrawal Campaign Caused a Decline in Reserves
Yi He stated that the amount of assets transferred to Binance addresses increased after the withdrawal campaign initiated by some community members. According to on-chain data, Bitcoin mobility outside the platform has accelerated in recent weeks and large amounts of money have been withdrawn.
Data from blockchain analysis platform CryptoQuant shows that there was fluctuation in Binance’s reserves last week. While there were high inflows to the platform, especially between January 29 and 31, a significant outflow of approximately 5,800 BTC was recorded at the beginning of the week. This stood out as the largest negative net flow of the one-week period.
Some friends in the community started a shooting campaign. Even though the number of assets in Binance addresses increased after the campaign, I think regular withdrawals from all platforms are an effective stress test.
Yi He
While the mobility in reserves in the stock market continued, there was a re-entry of 2,700 BTC on February 4. However, the total value of reserves continued to decline due to market fluctuations. Bitcoin reserves, which were in the range of 55-56 billion dollars about a week ago, decreased by 16% to 46.3 billion dollars. During this period, there was also a 19 percent decrease in the price of Bitcoin.
Market Rumors and Binance’s Response
Manager Yi He stated that users should carefully check their recipient addresses during withdrawal and that those who do not trust Binance can choose a hardware wallet. It was stated that the aim was to prevent possible errors or fund losses.
I hope everyone will check the addresses carefully during the withdrawal process. It is not possible to return funds on-chain. If software-based wallets do not meet your needs, you can also consider hardware wallets.
Yi He
Some users on social media claimed that Binance was responsible for the $20 billion market liquidation and general decline last October. Allegedly, some technical glitches, account freezing and transfer delays experienced by Binance were effective in this decline.
Binance rejected these allegations and stated that the claim that a legal warning letter was sent was not true. Changpeng Zhao, the former CEO of the platform, described the accusations against him as unreal. So far, there is no official statement from any regulatory agency that Binance is at risk of bankruptcy.
Criticisms of Market Performance
Some analysts state that Binance’s high transaction volume may also be effective in the recent decline in Bitcoin price. Especially after the rapid price losses in October 2025, the technical capabilities and transparency of the exchange became a subject of discussion on social media.
Binance continues to publicly deny claims that it has a negative impact on the market.
