Considering Alternatives to Binance? Here are 3 Cryptocurrency Exchanges To Explore

Key Takeaways

• Binance is facing backlash implicit the October 2025 flash crash.

• Heavy outflows occurred recently, with billions withdrawn amid FUD, though on-chain information shows reserves stay unchangeable and determination is nary wide exodus.

• Ongoing controversies see withdrawal glitches successful aboriginal February 2026 and persistent regulatory scrutiny pursuing the pardon.

Binance, the world’s largest cryptocurrency speech by trading volume, has precocious been nether aggravated scrutiny.

Following a bid of high-profile events, including a monolithic flash clang successful October 2025 and persistent regulatory pressure, investors are progressively weighing alternate exchanges.

While Binance remains operational and solvent, these controversies person shaken assurance and spurred important withdrawals.

The astir important contented centers connected Binance’s alleged relation successful the Oct. 10, 2025, crypto marketplace flash crash, dubbed the “10/10” oregon “Black Friday” event.

The clang liquidated astir $19 cardinal successful leveraged positions wrong 24 hours.

While initially triggered by geopolitical factors, specified arsenic U.S. tariff threats connected China, Binance’s method issues—including delayed oracle terms updates, scale deviations for assets similar USDe, and cascading liquidations owed to bladed liquidity—exacerbated the downturn.

Critics, including OKX CEO Star Xu and Cathie Wood of Ark Invest, reason that Binance’s monolithic marketplace stock (41% spot, 29.3% derivatives), selling campaigns, and strategy vulnerabilities amplified Bitcoin’s driblet from highs astir $125,000.

Binance denies interior failures arsenic the superior cause, attributing liquidations mostly to macroeconomic shocks, and compensated affected users with $283–$328 million.

Limited disclosure, however, has fueled conspiracy theories and calls for regulatory probes.

Other controversies see allegations of collusion betwixt Binance, Tron (Justin Sun), and cardinal sentiment leaders (KOLs) to manipulate markets.

A 2026 information breach exposed astir 420,000 idiosyncratic credentials, though it stemmed from user-side malware alternatively than Binance systems.

Ongoing investigations, specified arsenic a French money-laundering probe and scrutiny of ties to Trump-linked ventures similar World Liberty Financial, proceed to measurement connected the exchange.

Amid mounting scrutiny, Binance has seen dense withdrawals.

In precocious January 2026, nett outflows totaled $6–$7 cardinal successful a azygous week—the highest since November 2025.

This included important withdrawals of stablecoins (USDT: $2.26 billion; USDC: $1.24 billion), Bitcoin ($2.14 billion), and Ethereum ($1.35 billion), tightening liquidity and expanding short-term volatility.