They say every dark cloud has a silver lining, and it turns out that is true; just ask Binance CEO Richard Teng. Monday, August 5, earned itself the name “Black Monday," one of the gloomiest days in the history of crypto after the market witnessed various troubles, from massive sell-offs to price crashes. 

More: Whales in Action: Optimistic Outlook for Bitcoin Despite Market Volatility

But despite the other players in the market running helter-skelter, one company has been left untouched, and not just untouched but also thriving exceedingly well. That company is Binance, the largest cryptocurrency exchange by daily trading volume.

Richard Teng, CEO of Binance, broke some good news amid it all. Binance recorded one of the highest net inflow days of the year. According to Richard Teng, citing the transparency metrics on centralized exchanges reported by DefiLlama, Binance recorded a net inflow of $1.2 billion in 24 hours.

It’s a lot to take in and hard to believe, especially given the timing and the whole Black Monday affair, but apparently, it’s all true. DefiLlama corroborated Teng’s report, showing that Binance alone holds over $100 billion in total assets. It may seem appropriate for a company of Binance’s level, but it’s a whole other thing when the next company after it, OKX, has just $17 billion, and the third, Bitfinex, has $16 billion. 

If nothing else, these figures show that Binance has a lot of investor confidence. Numbers like that are not just rare; they are nearly impossible on a day of market crisis like Black Monday.  No other company has recorded anything close to what Binance did. Black Monday seems to have come for everyone else apart from Binance.

August 5, or Black Monday, saw over $1 billion in crypto positions liquidated. Everything from Bitcoin to Ethereum took a huge hit, and the crash has even been likened to the events that followed the FTX sometime in November 2022.

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However, it is not just the Black Monday event that makes Binance’s success seem impossible. The company has also been reportedly at odds with Indian regulators and facing an $86 million claim. Issues like that tend to deter investors from pumping money into a company, but apparently, Investors are pretty happy and confident in Binance. 

Read Here: Crypto Market Crash with $1 Billion Liquidated. What Happened?

But again, it’s not just the Indian regulation issue. Binance also has a lawsuit with the US Securities and Exchange Commission (SEC), which now remains uncertain after the regulator updated the complaint. This has not seemed to have any impact on investors' confidence as well. 

Binance is doing something right to get these numbers on a literal finance Doomsday. We might never know what that is, but it is commendable, to say the least. It’s also really good PR for the company and may just attract more investors.

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