← Go back Nov 11, 2023
Over the past 24 hours, crypto exchange Binance has recorded over $950 million in net outflows over the as the exchange was hit with criminal charges in the U.S. In the wake of the charges founder Changpeng ‘CZ’ Zhao agreed to step down as chief executive officer as part of a record settlement. Though the outflows appear insignificant compared to the total reserves of Binance, CoinDesk reports that there are constant hourly net outflows of bitcoin and stablecoins after the CZ’s resignation announcement. Binance will continue to operate as usual and will make a “complete exit” from the U.S market Meanwhile, data from a Dune Analytics dashboard shows over $2.37 billion in various tokens have left the exchange. Binance’s BNB tokens were the most deposited and withdrawn tokens, the data shows.
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