Cryptocurrency exchange giant Binance has strongly refuted recent allegations suggesting it has issued legal threats or cease-and-desist orders against individuals and media outlets discussing the exchange’s solvency. The denial addresses a growing volume of speculative rumors circulating on social media regarding Binance’s financial health and stability.
Reports had emerged claiming that Binance lawyers were contacting critics, attempting to silence discussions about potential insolvency following periods of heightened market volatility and large withdrawal volumes. These rumors fueled fears that the exchange was attempting to suppress legitimate scrutiny of its operational finances.
However, in an official statement, a Binance spokesperson dismissed the claims of widespread legal intimidation. While the company affirmed its right to pursue action against deliberately malicious or defamatory content designed solely to incite panic, it maintained that it has not engaged in issuing legal threats merely over discussions of its solvency status.
Binance has consistently sought to counter ‘FUD’ (Fear, Uncertainty, Doubt) by pointing to its publicly available Proof-of-Reserves reports, which it claims demonstrate a stable financial backing of user assets. The exchange emphasized its commitment to transparency and its stable operational status, seeking to reassure the community that the allegations of insolvency threats were unfounded and aimed at spreading misinformation.
Source: Binance denies issuing legal threats over insolvency allegations
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