An on-chain analysis by Boring Sleuth reveals tight wallet connections between Binance and Crypto.com, raising questions about whether one exchange funds the other. The speaker explores two possibilities: direct funding or routine operational account-holding, then endorses Binance based on five years of personal use.
It has just been found that Binance's wallets are heavily connected to Crypto.com's wallets, and we can see that right here through this graph. This was found by Boring Sleuth, so credit to him. But why is this actually happening? What's going on here with these wallets being so tied together? People are saying that one could be funding the other and that Crypto.com could just be an extension of Binance, while other people are saying that many exchanges have accounts at other exchanges to earn spreads or for less malicious reasons. Still, to me, this doesn't feel good when I see all these crypto exchanges' wallets connected. Now, I love Binance. I've been using Binance for 5 years straight as my number one main exchange, and personally, I don't think Binance is going to crumble to zero like FTX did. But I thought I'd share this just to show you how interesting this chart is.
