Binance to Let Traders Keep Crypto Collateral Off Its Exchange
(Bloomberg) -- Binance, the operator of the world's biggest crypto exchange, will allow institutional investors to keep the collateral for leveraged positions off the platform, a move to ease concerns…
According to the company, such companies will be able to submit collateral to Binance Custody. This will allow them to store the assets in cold storage (or wallets that are not connected to the internet). Users retreated from Binance and other rivals after FTX was shut down. Users pulled billions of dollars from Binance's trading platform in just one day at the peak of the pullback, in December. Catherine Chen, Binance's head of VIP & Institutional, said that clients are more aware of managing risk. "We hear from our customers that they love trading on Binance. But, at the same they feel 'pressure' from their internal risks control. Housing pain to continue until economy slows down and prices fall
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