Binance says cease and desist letter over bankruptcy rumors is fake

Binance has stated that a cease and desist letter circulating online, which demanded the removal of posts about its alleged bankruptcy, is a fake document, The Block reported. On Feb. 4, a post on X claimed the exchange was insolvent and would cause a greater shock than the collapse of FTX. The author of the post later shared an image of what they claimed was a cease and desist letter from Binance. The document threatened legal action if the post was not removed. Binance denied sending the letter, stating that the document was a fabrication and that it had not demanded the post's removal or threatened legal action.