{"id":622838,"date":"2023-03-28T13:49:29","date_gmt":"2023-03-28T18:49:29","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/28\/binance-withdrawals-surge-during-cftc-indictment\/"},"modified":"2023-03-28T13:49:29","modified_gmt":"2023-03-28T18:49:29","slug":"binance-withdrawals-surge-during-cftc-indictment","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/28\/binance-withdrawals-surge-during-cftc-indictment\/","title":{"rendered":"Binance Withdrawals Surge During CFTC Indictment"},"content":{"rendered":"<section id=\"primary\" role=\"main\">\n<article id=\"post-243895\">\n<div>\n<div>\n<p><span>Hundreds of millions of dollars in crypto was withdrawn from Binance shortly after the exchange was slapped with civil charges by US regulators on Monday, on-chain data shows.\u00a0<\/span><\/p>\n<p><span>According to Nansen, the exchange has experienced $400 million in net outflows over the past 24 hours alone.<\/span><\/p>\n<ul>\n<li><span>By comparison, Binance has undergone over $2 billion in outflows over the last seven days, meaning Monday was above average.\u00a0<\/span><\/li>\n<li><span>Meanwhile, entities Nansen calls \u201csmart money\u201d traders withdrew at least $9 million from the firm within 24 hours.\u00a0<\/span><\/li>\n<li><span>Data from <\/span><a href=\"https:\/\/twitter.com\/apes_prologue\/status\/1640434649267576853\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener\"><span>Thanefield capital<\/span><\/a><span> indicated that there were large exchange stablecoin outflows totaling $1.5 billion in 12 hours just prior to the indictment.\u00a0<\/span><\/li>\n<li><span>$850 million worth came from Binance specifically, with an additional $240 million in outflows from the exchange an hour after the charges were laid.\u00a0<\/span><\/li>\n<li><span>Nansen\u2019s data shows that Binance holds\u00a0 $63.7 billion in crypto, based on wallets that the firm has publicly tagged as its own. Glassnode data shows this includes over $2 billion worth of USDT, $17 billion worth of Bitcoin, and $8.1 billion worth of Ether.\u00a0<\/span><\/li>\n<li><span>Binance and its CEO, Changpeng Zhao (CZ), were <a href=\"https:\/\/cryptopotato.com\/what-are-binance-and-cz-being-accused-of-a-closer-look-at-the-cftc-filing\/\" data-wpel-link=\"internal\">sued<\/a> by the CFTC for violating various consumer protection laws, including flouting KYC obligations and lacking proper registrations.\u00a0<\/span><\/li>\n<li><span>The country\u2019s other top exchanges are being targeted by the Securities and Exchange Commission (SEC), with Kraken having paid a $30 million fine for <\/span><a href=\"https:\/\/cryptopotato.com\/paternalistic-and-lazy-crypto-mom-sounds-off-against-genslers-attack-on-kraken\/\" data-wpel-link=\"internal\"><span>failing to register<\/span><\/a><span> its staking service, and Coinbase <\/span><a href=\"https:\/\/cryptopotato.com\/sec-issues-wells-notice-against-coinbase-for-listing-unregistered-securities\/\" data-wpel-link=\"internal\"><span>receiving<\/span><\/a><span> a Wells Notice from the agency last week.\u00a0<\/span><\/li>\n<li><span>Binance experienced billions of dollars in <\/span><a href=\"https:\/\/cryptopotato.com\/binance-processes-close-to-8-billion-in-daily-withdrawals-cz-says-it-wasnt-a-even-top-5\/\" data-wpel-link=\"internal\"><span>outflows<\/span><\/a><span> roughly one month after the collapse of rival exchange FTX. At the time, CZ the event \u2018business as usual.\u2019<\/span><\/li>\n<\/ul>\n<div><center><span>SPECIAL OFFER (Sponsored)<\/span><\/center><\/p>\n<p><b>Binance Free $100 (Exclusive): <a href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" rel=\"nofollow\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" rel=\"nofollow\" data-wpel-link=\"internal\">Use this link<\/a> to register &#038; enter POTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div><\/div>\n<hr><\/div>\n<\/section>\n<p><a href=\"https:\/\/cryptopotato.com\/binance-withdrawals-surge-during-cftc-indictment\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Lawanda Guillemette<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hundreds of millions of dollars in crypto was withdrawn from Binance shortly after the exchange was slapped with civil charges by US regulators on Monday, on-chain data shows.\u00a0 According to Nansen, the exchange has experienced $400 million in net outflows over the past 24 hours alone. By comparison, Binance has undergone over $2 billion in<\/p>\n","protected":false},"author":1,"featured_media":622839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22426,96415],"tags":[],"class_list":["post-622838","post","type-post","status-publish","format-standard","has-post-thumbnail","category-binance","category-withdrawals"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/622838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=622838"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/622838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/622839"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=622838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=622838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=622838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}