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Binance Reportedly Experienced $2.1 Billion In Net Outflows

Cryptocurrency exchange Binance reportedly experienced $2.1 billion in net outflows in a challenging week marked by a software error, the end of its no-fee spot trading offer, and a lawsuit filed by the Commodity Futures Trading Commission (CFTC). The withdrawals accelerated following the CFTC announcement, but the acceleration was not as dramatic as in February when the New York Department of Financial Services banned the issuance of Binance-branded stablecoin BUSD. Despite the withdrawals, Binance still holds $63.2 billion in publicly disclosed wallets.


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