Binance has a couple Steemit wallets. They have @deepcrypto8 mostly for deposits and @binance-hot mostly for withdrawals.
The exchanges have to run a STEEM node like a witness to control deposits and withdrawals. Once STEEM is transferred to Binance exchange, it is really not in the exchange user's wallet. The actual STEEM resides on the @deepcrypto8 wallet or the @binance-hot wallet. The exchange user has a virtual amount of STEEM and not actual STEEM.
About 16 days ago, the Binance STEEM node went down when STEEM blockchain froze and the Binance node has never gotten fixed. We don't know why. I've been asking the witnesses almost daily and they know absolutely nothing. When the node goes down, Binance no longer has control of the deposits and withdrawals because the node is handling those transactions.
Ultimately it is up to Binance to fix their node, but I believe that Steemit Inc should offer assistance to get the node functional. I've been trying to get Steemit Inc to do something, but they will not provide any information. While other currency developers are proactive at getting their coin on exchanges and keeping them there, I feel that Steemit Inc does absolutely nothing.
By the Way, Binance has been pretty solid until they went down a couple weeks ago. It was Poloniex that would go down regularly. The last time they went down, it took almost 6 months to get their node back in operation. HitBTC node went down about the same time as Poloniex and to this day has not been fixed.
Thanks for stopping by and setting the story straight. I love the detail that you provided. I now have a better understanding of the pricing nodes.
I agree with you that Steemit Inc should offer assistance to Binance or any exchange if they have not done so already. It looks bad and deters investors when there are issues with the liquidity of the coin.
Sounds like you pay close attention to the exchanges and STEEM. Are you an investor? Curious have you heard of or used 3commas.io? I have been thinking about tying out the tool to perform passive investments.
FYI - Binance has lifted the STEEM withdrawal suspension.