Binance co-founder: "Claim of $20 billion outflow is false… net inflows occurred instead"

JH Kim

Summary

Binance co-founder He Yi dismissed the $20 billion fund outflow claim as baseless FUD.
He cited DeFiLlama data saying that more than $4 billion in net inflows actually occurred at Binance.
Binance reportedly issued an official apology after announcing potential legal action over the listing fee controversy.

On the 15th (local time), according to crypto-focused media The Block, Binance co-founder He Yi dismissed the recently raised 'about $20 billion fund outflow' allegation in the community as "baseless FUD (fear, uncertainty, and doubt)."

Some online communities alleged that about $20 billion left Binance after the largest forced liquidation ever that occurred on the 11th.

In response, He cited DeFiLlama data and countered that "in fact, there were net inflows of more than $4 billion."

Meanwhile, Binance initially warned of legal action over the claim by decentralized prediction market platform Limitless that "it was asked for listing fees," but after criticism that the response was excessive, it issued an official apology.