Binance, the world's biggest crypto exchange, is now under intense scrutiny after the FTX debacle. Here are 5 things you need to know.

One reason the spotlight is glaring on the company is the fact that customers drained billions of dollars from the platform last week.

After the collapse of FTX, spooked investors are on the lookout for signs of trouble. Some people are concerned that cracks may be appearing.

There are a lot of things to know about what's happening at Binance.

People are worried about Binance's holdings of customers' funds

If there was a rush of withdrawals, the firms were under pressure to show their customers' holdings were safe.

According to a report, Bankman-Fried quietly transferred at least $4 billion in user funds to sister firm Alameda Research after it suffered losses.

A proof of reserves report was needed to boost confidence in its own business. To assure customers their funds are still in their accounts, it enlisted the services of Mazars.

The platform's users shouldn't be satisfied with the Mazars report as it didn't take into account how good the financial controls were. The WSJ reported that even though it suggested that the situation was solid, it also showed that the assets were more than the liabilities.

According to a report last month, nearly half of the company's $75 billion reserves are in BUSD and BNB, the company's own stable coins.

The accounting firm suspended its proof-of-reserves work due to concerns about how the reports are understood by the public.

Customers pulled a net $3 billion in funds in the space of a day

There has been a lot of withdrawals in the last few days due to questions about its reserves. The arrest of FTX founder Bankman- Fried eroded trust in the digital currency.

Net outflows of $3 billion on Tuesday were the highest since June. While it boosted its holdings of the stable coin, the exchange had to temporarily freeze withdrawals ofUSD coin.

Over a month ago, the company held over $65 billion in digital assets in publicly disclosed wallet. Large withdrawals and price fluctuations have caused the total to increase.

There's a DOJ investigation into Binance focused on money laundering

The US Justice Department has been investigating the company's compliance with financial crime rules, according to reports.

The founder and other executives of the company may be charged with a crime. Money Laundering Conspiracy, unlicensed money transmission, and criminal sanctions violations are covered in these.

The report said that the company processed over $10 billion in illegal payments and that it tried to avoid regulators.

Binance CEO "CZ" isn't fazed and says it's business as usual

The man known as "CZ" has doubled down on trying to alleviate customers' concerns. He's been pushed back against the spread of fear and doubt.

People can withdraw all of their assets on a single platform. He told CNBC that they wouldn't have an issue at all. We hold user assets one-to-one.

The outflows from the exchange were shrugged off by Zhao. He welcomed the events as a stress test for the exchange's resilience.

But he warned Binance staff there's a "bumpy" road ahead 

Issues still remain even though Zhao played down concerns. The billionaire told staff that FTX's problems have put a lot of extra scrutiny and tough questions on the site, which needs to weather a confidence crisis.

"While we expect the next several months to be bumpy, we will get past this challenging period, and we'll be stronger for having been through it," he said in a memo he sent to employees.