Binance Spokesperson: Binance's User Assets Are Underpinned by Reserves

Responding to questions about the recent outflows and worries over transparency, Binance spokesperson said: "People deposit and withdraw assets everyday for a variety of different reasons. User assets at Binance are all backed 1:1 and Binance’s capital structure is debt free."

According to CryptoQuant, Binance saw a record daily net outflow of $BTC and $ETH in terms of numbers of tokens on Tuesday. A net 40,353 $BTC and 278,017 $ETH tokens were withdrawn, the figures indicate.