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Anndy Lian
@anndylian
Thought Leader, Intergovernmental Blockchain Advisor, Investor & Best-Selling Author | 👉 New book Web4 & AI
Joined March 2011
86 Following    192K Followers
Do not worry. Binance can support the bank run for sure. 1/ 1:1 Asset Backing: Binance maintains a strict Proof of Reserves (PoR) system. 2/ Simple Math: While the recent exploit drained a massive amount (estimated up to $5.7 billion), blockchain data reveals that the hacker's actual take-home loot was heavily mitigated. With $2.8 billion instantly frozen by stablecoin issuers, the true "unbacked" gap left in Binance's Ethereum reserves dropped to roughly 6% for that specific asset. 3/ SAFU Fund: Binance actively maintains the Secure Asset Fund for Users (SAFU), an emergency insurance fund valued at $1.2 billion. 4/ Historical Precedent: During the collapse of FTX in December 2022, panic caused users to withdraw over $6 billion from Binance in just 72 hours. Binance processed every single transaction smoothly without a liquidity crunch, proving their backend operational capability during extreme market stress.
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