Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout

Started by Epoch-Times-Bot, Dec 14, 2022, 09:00 AM

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Epoch-Times-Bot

Dec 14, 2022, 09:00 AM
Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout

Billions of dollars have flowed out of Binance, one of the leading cryptocurrency exchanges in the world, as the industry struggles with the high-profile fallout of FTX.
Binance's 24-hour net outflow hit $3 billion, according to a Dec. 13 tweet by blockchain data firm Nansen. The exchange reported more than $62.5 billion in disclosed holdings. During the past seven days, Binance has seen $8.78 billion in outflows and $5.12 billion inflows, bringing the total net outflow during the period to $3.66 billion.
"We saw some withdrawals today (net $1.14b-ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us. I actually think it is a good idea to 'stress test withdrawals' on each CEX on a rotating basis," Binance CEO Changpeng Zhao said in a tweet on Dec. 13....

Source: Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout

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