Binance Proposes Annual 'Withdrawal Day' to Enhance Industry Transparency

Binance Addresses Blockchain Data Anomalies

Binance recently issued a statement on the X platform addressing concerns about abnormal blockchain data. The exchange clarified that the data in question came from third-party platform Coinglass, and similar discrepancies were previously observed on DefiLlama. It is expected that the data will return to normal within 24 to 48 hours.

Proposal for Annual Withdrawal Day

Binance emphasized that periodic withdrawal tests are a proactive way to verify asset reserves and liquidity. The exchange further proposed that the industry consider an annual 'Withdrawal Day' to collectively validate asset transparency across platforms, thereby boosting market confidence.

• Users should double-check withdrawal addresses
• The industry needs more transparent verification mechanisms
• An annual withdrawal day could strengthen trust

Important Reminders for Users

While conducting withdrawal tests, Binance urged users to carefully verify withdrawal addresses before proceeding to prevent potential fund loss due to incorrect address entries.