Official MASTR logo MASTR
Menu
Read the publication

Exchanges & custody

Binance: exchange accountability · 7 Jun 2026

“In search of knowledge” is a strange thing to post after 10/10, because the one thing Binance did not give the market was knowledge;

The original publications are in English. Navigation is available in seven languages.

01

Original on X ↗

Fuck you @Binance

“In search of knowledge” is a strange thing to post after 10/10, because the one thing Binance did not give the market was knowledge;

No full post mortem.
No raw trade data.
No complete order book reconstruction.
No tick level timeline.
No liquidation engine report.
No explanation of mark price behaviour.
No clear index methodology during the event.
No venue by venue comparison.
No matching engine logs.
No latency data.
No API degradation report.
No market maker activity breakdown.
No liquidation queue data.
No ADL transparency.
No insurance fund movement report.
No account class exposure.
No explanation why so many Binance USDT spot pairs printed insane lows compared to other major exchanges.

Binance has 430 USDT spot pairs. 410 of them also had prices available on OKX, Bybit, Bitget or Gate during the same period.

On 10/10, 103 Binance pairs hit lows more than 10% below the second lowest exchange.

Many were not small deviations. They were absurd structural breaks.

Retail got liquidated on prices the public still cannot properly audit, while the largest offshore exchange and primary altcoin USDT price discovery venue gave everyone slogans instead of forensic transparency.

If Binance is really in search of knowledge, start by releasing the data you refused to give after 10/10.

Mentioned accounts

Find where an X account appears in the selected publications. A mention is not an allegation or an endorsement.

@binance

Related research

Exchanges & custody

BitMart: the history behind the wind-down

A review of BitMart’s earlier disputes, security incidents and withdrawal concerns alongside its 2026 closure announcement.

Original articles11 min
MASTR

Support independent research

The investigations, original evidence and guides here are free to read. Voluntary donations help fund the research and keep MASTR’s tools available.

Open wallet