Binance, the world’s largest cryptocurrency exchange, is struggling to hold onto assets. Read more:
, claiming FTX’s “issues are beyond our control or ability to help,” implying that an initial look at company’s books showed a more severe situation than previously thought.This story could also be about the lack of conventions for categorizing assets held inside crypto wallets.
statement almost two months ago, listing select crypto holdings. At that time, the firm did include $17 billion denominated in BNB, which represented nearly a quarter of its assets. In terms of dollar equivalent, Glassnode places the value of BNB at zero, while Nansen and Arkham put that amount closer to $6 billion and Defillama and Messari see it near $10 billion. Messari, however, bundles the value of Binance holdings on three chains–BNB, ETH, and Tron–which suggests that the almost $10 billion in the BNB grouping comprises many other tokens, not just BNB.Forbes also found wild discrepancies in Binance’s bitcoin holdings, ranging from $4.8 billion to $9.6 billion .
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