Binance came out of nowhere with massive fake volume, as a China-based exchange pretending to be based in Hong Kong. They've proceeded to thrive by having a reputation for giving accounts to anyone, globally (which, TBH, is not a bad thing as they operate in countries where it's better than trying to save in the local currency). And their home country is "somewhere you are not".
There is no basis for believing that they have maintained all the funds: why would they?
There is basis for my postion and point of view. You can see their cold wallets and inspect the wallets for Binance moving funds. If what you stated were facts, we would most certainly agree. But the thing is, they are not true. See data below.
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#Binance published cold wallet addresses and balances for 6 of our 600 coins. More to come. 475K BTC4.8M ETH17.6B USDT21.7B BUSD601M USDC58M BNBThese were public before anyway, but organized together for your ease of viewing.https://t.co/Jm6dVoDqM5
There was a reason Bernie Madoff was one of the most respected men in finance. He always delivered high returns and always met withdrawal requests promptly. Until one day he didn't.
You used to be able to use binance without KYC in its early years but more recently (around 2019 onwards) it has started requiring KYC even to get on the platform. At the same time they've forced old users to either provide KYC or disable their accounts. This probably only applies to EU users though.
I'd be very interested in reading actual proof of them being shady. Please do share.