The Binance cryptocurrency is down 17% in a week Gulf newspaper

BNB, the digital currency, is down 17% for the week, including a drop of more than 6% in the last 24 hours, to trade at around $235.
BNB, which was first found in 2017 in China by CZ, CEO of the company; The fifth most valuable digital currency in the world, with more than $37 billion, behind Bitcoin, Ethereum, Tether, and USD Coin. It initially relied on the Ethereum network, but now it operates on the blockchain technology of its parent company.
More than a month after its bankruptcy, the specter of FTX still haunts investors regarding the cryptocurrency exchange. In an interview on CNBC, the CEO of Binance dismissed concerns that his company might be unable to handle orders worth $2.1 billion in conjunction with the bankruptcy of the FTX platform. “We are doing well financially,” he said.
Cryptocurrency investors are reportedly questioning CEOs’ comments about the financial health of their companies. Especially after the words of the founder and former CEO of FTX, Sam Bankman Fried, that “his company’s assets are good,” before the catastrophic collapse of the platform occurred, and he was later arrested on charges of fraud and money laundering.
The founder of Binance added that about $1.14 billion in net withdrawals took place last Tuesday, then tweeted: “These are not the highest withdrawals we have handled, not even the top five, and that the situation is stable.” Blockchain analytics firm Nansen said Tuesday withdrawal requests reached $3 billion on Binance.


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