BNB Token is tanking. Is something more going on?

I typically try not to feed into the FUD in the crypto community, but I find it very interesting what’s going on with Binance, the BNB token, the Mazars audits, and online sleuthing the blockchain.

Binance and CZ have been on the defensive due to the failing of the FTX exchange and their role in its demise. I don’t blame CZ’s tweet for taking down FTX, but it was the nail in the coffin for me to remove all my assets from the FTX platform. SBF literally lent out all the customer funds to Alameda is a giant clusterf*** of loans to executives and crappy bets. CZ just wanted his actual money from his investment in FTX from early on. No one can fault him for that. Just sucks that the bank run on FTX caused all the liquidity to dry up.

Point two is that MAZARS was performing a proof of reserves for several crypto exchanges and has now decided to stop all work on this. I’m wondering why they all of the sudden decided it’s not in their best interest? They must be well paid for this and maybe they’ve uncovered something that they can’t verify or they don’t want to risk their reputation for something. I’m not really sure.

The third point is the fact that the BNB token is crashing in value. I don’t know enough to really see where the money is here, but the outflows from Binance have been significant. They had to halt trading/redemptions this week because supposedly they needed to do a swap through a US bank that wasn’t open yet. The BNB token crashing in value is probably due to all the news and FUD, and redemptions.

The things going on since the FTX collapse have been insane and I can’t stop watching. I’m not ready to say get your assets off the Binance exchange, but it’s awfully suspicious.