Mmastodon BusinessCrypto first seen 7 d ago, last 6 d ago, peak #5
Binance covering $6 billion customer losses, not recovering funds
Original: Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). Some was frozen, but Binance
Crypto critic Molly White argues that headlines claiming Binance has recovered over $6 billion in customer funds are misleading. She says Binance is actually covering losses by reimbursing customers from its own funds, with some of the money frozen and unlikely to be recouped even partially. The post criticizes generalist reporters for producing inaccurate crypto coverage under deadline pressure.
Why now: Misleading media coverage of Binance's finances is drawing criticism in crypto commentary circles
Rank over time, top of the chart is #1. 6 snapshots from 7 d ago to 6 d ago.
Evidence
- Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds). Some was frozen, but Binance is not likely to recover even half. Bad headlines like this are a big part of why I started covering crypto. Generalist reporters on deadline far too often… · molly0xfff@hachyderm.io · 908
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