The discount in the bETH/ETH trading pair reached 5%. Some members of the crypto community believe that the depreciation of the tokenized version of Ethereum on the blockchain of the Binance crypto exchange can be used for profitable purchase of coins

As of the time of writing the news, the discount in the bETH/ETH trading pair is 5.08%. In mid-December, the indicator updated the local maximum recorded in June 2022. The cheapest bETH was traded in a pair with ETH at the end of November 2021 ($0.8880).

Chart of the bETH/ETH trading pair. Source: Binance
Members of the crypto community believe that bETH's weakness is related to the rumors around Binance. Recall that on December 12, 2022, information appeared on the network that American regulators were preparing to charge the founders of the crypto exchange with criminal offenses. Binance users reacted to the news with a massive withdrawal of funds.

The situation was aggravated by the appearance on the web of information about problems with the transfer of assets from the crypto exchange, the statement of the head of the company Changpeng Zhao that new tests await his business ahead and the auditor's refusal to report on Binance reserves.

The unsuccessful speech of the head of the trading platform on CNBC also added fuel to the fire. During the interview, Changpeng Zhao could not answer the question of the presenters about why one of the competitors of the crypto exchange – Coinbase – uses the services of a verified auditor from the "big four", and his company does not.

A fragment of the interview:

The panic, in many ways, is rooted in the collapse of the FTX crypto exchange in November 2022. Against the background of the incident, the participants of the crypto community began to closely study the "health" of other platforms.

Crypto exchanges, including Binance, tried to reassure users by providing evidence of the safety of reserves based on the Merkle tree. Audits, in turn, were required in order to certify the results of the reports.

Earlier, experts shared with the editors of BeInCrypto their opinion on whether Binance will be able to repeat the fate of FTX.