XMR LIQUIDITY PROBLEMS

Copied from r/monero

Is Binance Having Monero Liquidity Problems? I'm writing - not on behalf of - but as part of the Monero community, coming here to ask some questions and express some doubts regarding Binance; questions which will resonate with a significant portion of the Monero community, and anyone having problems receiving the Monero which Binance owes them.

Let's not beat around the bush. Binance, many of us believe you may be in a Monero liquidity crisis; and further, we suspect you may have been selling Monero that you don't actually have, which is not only a fractional reserve practice, but amounts to a naked short against the Monero price.

You have disabled Monero withdraws, citing "network congestion" and then "maintenance" which was supposed to end Sunday. It is now Thursday, and still no word. Even before the general crypto market crash, many exchanges were at best, sporadically available for Monero purchase/withdraw. We see today that Binance price has significantly diverged from Kraken, who has remained available for XMR withdraws, with just a few delays for less than a day.

We entertained the possibility this was an issue with the latest Monero minor release. But why not just say that? Why not inform the Monero community, and who can help? You could default back to the previous release with no dangers, while sorting the issues. We concluded it's not that.

So what is the problem? Please be descriptive and not arcane or terse. Would you be willing to offer some good faith evidence that you do in fact have the Monero that you claim? You could show your the public view key, and a snapshot of the Monero obligated to customers.

People deserve an honest response, your customers at a minimum, but in reality, the broader crypto ecosystem