Binance co-founder dismisses $20B outflow rumor as baseless FUD

Binance co-founder He Yi has dismissed recent community allegations of a $20 billion outflow from the exchange as baseless FUD (fear, uncertainty, and doubt), The Block reported. The rumors surfaced after a record-breaking forced liquidation event on Oct. 11. However, He Yi countered the claims, citing data from DeFiLlama that showed the exchange had actually experienced a net inflow of over $4 billion during the period. Separately, Binance recently apologized for threatening legal action against the decentralized prediction market platform Limitless, a response that was criticized as excessive after the platform claimed Binance had demanded a listing fee.