Arkham Intelligence: Binance made several billion transactions in two weeks

Article Reading Time:
2 minutes.

Analytics firm Arkham Intelligence reported that in two weeks, Binance transferred $1 billion to its Industry Recovery Fund wallet and received funds from$1 billion worth of Tether Chainswap

Analysts at Arkham Intelligence have prepared a detailed report after blockchain researchers tracking the activity of large bitcoin holders ,
warned the crypto community about the transfer of 127,351 BTC worth just over $2 billion by the Binance exchange.This news, in light of the recent events with FTX, was perceived negatively by many investors.

Some members of the crypto community suggested that the transfer was a reversal of the exchange's assets after the completion of the Proof of Reserve (PoR).Arkham Intelligence has confirmed a $2 billion transaction and noted two more major Bitcoin transactions by Binance in recent weeks.

For example, the $1 billion BUSD exchange, which was supposedly intended for the Crypto Industry Recovery Fund, created by Changpeng Zhao.In addition, Binance received about $1 billion from Tether as part of the Solana for Ether exchange.Zhao soon
confirmed that a major $2 billion deal was actually part of a PoR:   

"The auditor demanded that we send a large amount of money to our address to see that we control the wallet.And the rest of the assets were sent to a new address."

Binance previously published its PoR, but some investors are still skeptical.The reason: the exchange did not provide any details about its liabilities and did not show a clear separation between its own assets and customer funds.

Last week, Binance revealed that it intends to use its new Proof-of-Reserve system on a regular basis
prove to their users that their assets are not in danger.