Binance shows no signs of financial stress despite online claims comparing the exchange to “FTX 2.0,” according to onchain data analysed during recent market volatility.
Blockchain analytics firm CryptoQuant said Binance’s bitcoin reserves remain broadly unchanged at about 659,000 BTC, showing no material erosion during the latest sell-off.
“Binance holds around 659,000 BTC, virtually unchanged from 657,000 BTC at end-2025,”
CryptoQuant said, adding there are “no signs of stress” in the exchange’s onchain data.
The comments come as a wave of near-identical posts on X claimed users were closing Binance accounts, with analysts noting patterns suggesting some of the accounts may be coordinated or inauthentic.
Binance co-founder Changpeng Zhao criticised the posts, while a Binance spokesperson warned that misinformation spread by bad actors using multiple social accounts poses a growing risk to industry trust.
Some criticism has also come from identifiable industry figures, including Star Xu, who has accused Binance of contributing to a major liquidation event in October 2025 through high-risk promotions and excessive leverage.
Binance has denied responsibility for the October crash, saying earlier statements addressed the claims and stressing its commitment to transparency and responsible market practices.
At the time of reporting, Bitcoin price was $72,862.49.