Binance Clients Withdrew $1.9 Billion in 24 Hours

It’s the largest daily outflow over a 24-hour period since June 13

Binance has registered $1.9 billion of withdrawals in the past 24 hours. This was reported by Reuters with reference to Nansen, which works with blockchain data. This happened on the background of a number of negative news in the cryptocurrency industry.

According to Nansen, this is the largest outflow of funds from the platform since June 13th. "Binance's withdrawals are increasing due to the growing uncertainty about its reserves report", said a Nansen spokesperson.

Later Nansen content lead Andrew Thurman tweeted that the platform still had a large influx of funds. With a total outflow of 7 billion, the exchange has an inflow of funds of 4 billion per day. But the gap increased up to 2.1 billion.

Binance CEO Changpeng Zhao tweeted that withdrawals appeared to be nothing but a routine situation.

“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”.

Perhaps this is due to the scrutiny of Binance due to the collapse of FTX. On Monday Reuters reported that the US Attorney's Office planned to file charges against Binance for money laundering. According to rumors, the service was used by criminals to transfer illegal funds. The services spokesman rejected Reuters information about a possible investigation and said that the company is actively cooperating with the authorities.

Previously Binance temporarily paused USDC withdrawals. A few hours later the platform resumed USDC withdrawals.

According to Bloomberg, after that Zhao sent a letter to his colleagues. He said that the industry for digital assets is going through “a historic moment” and warned them to expect tough months. He adds that the collapse of FTX brought “a lot of extra scrutiny and tough questions”